Category Archives: Apps

URO MANDATORY CLIENT UPDATE, POLYCHAINS WITH STAKED PROOF-OF-WORK & MORE

FULL ARTICLE: http://www.cryptoarticles.com/crypto-news/uro-mandatory-client-update-polychains-with-staked-proof-of-work-more


URO is a coin making the headlines once again. Even though we were unable to attend the URO Special Event in Hong Kong, we will write up an article about the event at some point next week. A mandatory URO client update has been released, you can now trade URO at AlCurEx and there is this little something called polychains…Here we go!

Mandatory URO Client Upgrade

A new URO client has been released earlier today, and this is a mandatory upgrade for all users and exchanges. A hard fork will occur at block 83,333 . which gives everyone roughly a week to upgrade their clients. The sooner the better though, so download the new URO client here.

This new URO client update focuses on cleaning up some of the old source code, reducing the size of binaries (for LInux, Mac and Windows) thanks to improved compression and compilation options; and enabling UPnP on all binaries. No major technical changes are made otherwise, but the update is mandatory for all users to avoid any issues in the future.

AlCurEx Listing

Earlier today, Finland-based AlCurEx added URO to their trading platform. For now, there is only the URO/BTC trading market, but seeing as how AlCurEx is a licensed fiat currency (USD) exchange, so we might see a URO/USD trading market in the future.

Polychains with Staked Proof-of-Work (SPoW)

In a recently surfacing whitepaper, the topic of polychains with Staked Proof-of-Work is being discussed. These terms were announced at the URO Special Event a few days ago, but now we have a more technically detailed explanation on what this is all about.

Polychains with SPoW are a new security model for cryptoconsensus suitable for real-world value transfers, money issuance and even commodity backed cryptosecurities. As there are still plenty of technical problems where PoW, PoS and carrier currency encoding systems (MasterCoin, CounterParty, Colored Coins,…) are concerned, a blend of each system’s characteristics effectively neutralizes some of the threats in the aforementioned schemes.

Polychains allow for the implementation of many independent Proof-of-Work coins on a single shared blockchain. By doing so, the security (whereas network hashrate is concerned) of all involved coins on this shared blockchain are increased to a new level. This new level is equal to the sum of all the previously individual network hashrates of each individual coin.

Not only would this increase the security for the higher hashrate coins, but it would be a significant security level increase for the lower hashrate coins. In the end, everyone wins, and all networks benefit from the additional security.

Staked Proof-of-Work combines the inherently distributed mining topology in Proof-of-Stake chains with the need to perform real tangible computation via Proof-of-Work to earn the block reward. This process prevents miners from participating simultaneously in multiple versions of the blockchain (aka the Nothing-at-Stake problem).

In short : network hashrates are increased, we would be getting rid of mining pools and also eliminate the need for central checkpointing. Polychains solve the main two problems with Proof-of-Work (51% attack threat and low hashrate destabilizing the network security) and the only problem with Proof-of-Stake (centralized checkpointing).

Polychains with Staked Proof-of-Work will create a secure paradigm for completely decentralized blockchain ledger networks free from 51% attacks and central points of authority.

More technical details are explained in the whitepaper , which you can find here.


 

CoinDesk: Uro unveils emerging market exchange system

Source: CoinDesk “All Things Alt” Roundup (1 Sep 2014)


urocoinThe urocoin project has recently unveiled or released a number of updates that continue to build on the existing infrastructure surrounding the altcoin.

On August 15th, the URO development team unveiled Nuro, a digital currency wallet designed with many elements common in online banking interfaces. The open-source initiative, detailed in a recent Bitcoin Talk forum post, is focused on delivering functionality for both smartphones and less technologically advanced mobile devices.

In a statement, the team behind the project said:

“Originally developed to address the needs of urea fertilizer wholesalers and farmers by providing a wallet that would minimize the technological resources needed to permit fast, secure transactions. The platform’s inclusion of bitcoin, urocoin and litecoin, with more coins to follow, gives Nuro a universal utility that enables traditional banking consumers across the globe to easily transition into trustless, decentralized banking.”

This wallet app release was followed by an announcement last week by the Uro Foundation, the umbrella group overseeing the various initiatives involving the digital currency, that a new exchange system would be developed in emerging markets.

According to the organization, the first exchange is expected to open in Cambodia, with more to follow throughout the region. The exchange system development is part of a broader process described to CoinDesk in an interview with developer Bohan Huang, who said that the goal was to create an environment in which both farmers and traders stand to benefit.

URO MOBILE WALLET DEMO VIDEO, PROOF-OF-DEVELOPER ANALYSIS & MORE

Source: http://www.cryptoarticles.com/crypto-news/uro-mobile-wallet-demo-video-proof-of-developer-analysis-more


 

A few bits off good news has been announced by Green Earth Systems earlier today, which will have an impact on Uro. Furthermore, a Proof-of-Developer analysis has been done, and a demo video of the Uro mobile wallet has been posted.

Let’s begin with the announcement made by Green Earth Systems earlier today. According to their Twitter account, the following happened :

“GES has finalized agreements to supply 2 IPL registered importers at the new IPL urea price in the August-September period of 2014.”

This is very good news for both GES and Uro, as this means Uro is getting more and more widespread in the Urea (importer) communities. You can find the official tweet here :https://twitter.com/GESystemsgroup/status/495153012176744448

In other Uro news, CryptoAsian did a Proof-of-Developer analysis for Uro. The meaning of such an analysis is the Uro developer gets a “trustworthyness” rating from an independent source. CryptoAsian gave Bohan Huang,who is the Uro developer, a 4 PODs rating. (the maximum is 5) This rating was achieved because Bohan Huang has revealed a lot of his personal information to CryptoAsian, and after some email contact between two parties. You can find the analysis here.

A few hours ago, the UroFoundation sent out a tweet, which includes a video showcasing the first Uro mobile wallet video demo. Remember that partnership between Uro and BlockCypher, which we mentioned in this article? One of the benefits of this partnership is the ability to create a mobile wallet for Uro, which will work on multiple platforms. A small behind the scenes part is also included in this demo video, which I have embedded below :

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