Unblocked Ledger Coin


The first linearly scalable, self-governing payment network

Unblocked Ledger Coin (ULC) is a payment network designed to remedy the problems of traditional blockchains — scalability, decentralization, security and long term sustainability. The technology being developed for ULC can accommodate billions of daily active users and can be applied to many future global-scale decentralized applications. The ULC payment network is the first application of this technology.

Technology

The ULC Project is building a peer-to-peer payment network that incorporates sharding and auto-scaling to provide high throughput, low latency, and immediate finality while maintaining the highest level of decentralization and security.


The supporting technology that allows for these features is our original Unblocked Consensus Algorithm, which is based on Proof-of-Quorum, in combination with our Unblocked Sharded Ledger system, which is a distributed ledger that addresses the problems of linear scaling and state sharding as the network grows.

Features

Unblocked logo
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Fast

Transactions are processed immediately and not grouped into blocks resulting in fully confirmed transaction times of just a few seconds.
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Scalable Processing

Transactions are routed to groups of nodes (shards) so that not all nodes have to process all transactions and the network can scale to millions of transactions per second.
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Scalable Storage

State data is distributed across multiple shards resulting in networks that can hold trillions of accounts without requiring each node to provide petabytes of storage.
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Truly Decentralized

Off the shelf computers can be used as full nodes to earn a steady regular income without joining mining pools and providing the highest level of decentralization.
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Secure

Proof-of-Quorum consensus provides the highest level of security and data consistency while maintaining energy efficiency.
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Sustainable

A community-activated soft fork system allows setting network parameters and provides a maintenance fund to ensure the network can support itself and remains flexible.

Token

During the development phase of the ULC network, we will be issuing an ERC-20 token (Unblocked Ledger Token) that will be given to developers who complete bounties for the project. To incentivize the development of the ULC network software, a max supply of 1,000,000,000 (one billion) Unblocked Ledger Tokens (ULT) will be created in an ERC-20 contract. The tokens will only be distributed as bounties to help create and launch the ULC peer-to-peer network software. Unissued tokens will be burned upon release of the main network.

Bounties

If you are a Node.js, Go, or Haskell developer and you are willing to contribute to our project for tokens, click here!

All other bounties are listed on the Issues page of the project's GitHub repo here:


To stay up-to-date about ULC bounties, airdrops and project news, subscribe to our newsletter!

Roadmap

  • Q4 2011

    ✓ Research Started

    Simulation and study of consensus algorithms started.

  • 2017

  • Q2 2017

    ✓ Consensus Algorithm Defined

    Specifications for Unblocked Consensus Algorithm completed.

  • Q3 2017

    ✓ Sharding Specs Defined

    Specifications for Unblocked Sharded Ledger completed.

  • Q4 2017

    ✓ Consensus Algorithm Testing

    Small-scale testing of the Unblocked Consensus Algorithm was carried out.

  • Q1 2018

  • Q1 2018

    ✓ Legal Counsel

    Legal opinion on the project funding model was obtained.

  • Q1 2018

    ✓ Launch Preparation

    The website and whitepaper were developed.

  • Q2 2018

  • Q2 2018

    ✓ Project Launch

    The Unblocked Ledger project was officially launched.

  • Q2 2018

    Team Expanded

    The core team will be expanded with more developers.

  • Q3 2018

  • Q3 2018

    Further Algorithm Testing

    Large-scale testing of the Unblocked Consensus algorithm will be carried out.

  • Q3 2018

    Node Software Development

    The ULC node software will be developed.

  • Q3 2018

    Mobile and Web Wallet Development

    The mobile and web wallet software will be developed.

  • Q4 2018

  • Q4 2018

    Defensive Provisional Patents

    We plan to file defensive provisional patents to protect the technology developed in this project.

  • Q4 2018

    Test Network Release

    The test network should be up for public testing during this time.

  • Q4 2018

    Mobile and Web Wallet Release

    The mobile and web wallets will be available for use with the test network.

  • Q4 2018

    Network Explorer

    The ULC network explorer will be released for testing.

  • Q1 2019

  • Q1 2019

    Main Network Release

    The main network should be up and ready for use.

  • Q1 2019

    ULC Airdrop

    Our first official ULC airdrop will take place.

  • Q2 2019

  • Q2 2019

    Atomic Swaps

    The ability to perform cross-chain atomic swaps with other coins that support this feature will be added.

  • Q3 2019

  • Q3 2019

    Off-chain Transactions

    Support for trustless, off-chain transactions, similar to the lightning network, will be added.

Team

Aamir Syed
Aamir Syed

Developer

Aaron Sullivan
Aaron Sullivan

Developer

Artyom Tchebotaryov
Artyom Tchebotaryov

Developer

Carlos Alberto de Araujo Barreto
Carlos Alberto de Araujo Barreto

Developer

Curt Phillips
Curt Phillips

Developer

Derrick Farris
Derrick Farris

Developer

Dmitry Yakov
Dmitry Yakov

Developer

Erik Xavier
Erik Xavier

Developer

Gani Padela
Gani Padela

Developer

Maher Ben Taleb Ali
Maher Ben Taleb Ali

Developer

Mauro Hernandez
Mauro Hernandez

Developer

Omar Syed
Omar Syed

Developer

Ryan Hee
Ryan Hee

Developer

Ryuhei Matsuda
Ryuhei Matsuda

Developer

Salman Ahmad
Salman Ahmad

Developer

Thant Sin Toe
Thant Sin Toe

Developer

Viktor Zhirkov
Viktor Zhirkov

Developer

Michael Mayes
Michael Mayes

Evangelist

Marc Mattox
Marc Mattox

Community Relations

James Ross
James Ross

Community Relations

Grant Gulovsen
Grant Gulovsen

Legal Advisor

Joe Schloesser
Joe Schloesser

Advisor

Ghousuddin Syed
Ghousuddin Syed

Advisor

You?
You?

Developer

FAQ

What is the purpose of the ULC Project?

The ULC Project aims to build and showcase a linearly scalable, self-governing, truly decentralized payment network with its own coin called ULC. The software built to showcase this payment network provides a platform that can be reused to build other networks for enterprise or public use.

Does this project have a token?

Yes, we are distributing an ERC-20 token on the Ethereum network called Unblocked Ledger Token (ULT). The token can later be transferred to the network developed by this project.

What is the difference between ULT and ULC?

ULT are ERC-20 tokens on the Ethereum blockchain, while ULC are coins on the peer-to-peer network created by this project. Once the software for this project is complete and the main net launched, ULT can be transferred to the network and become ULC.

Why is there no ICO?

Instead of selling our tokens for other tokens (like Bitcoin or Ethereum) and using that to pay the developers, we are directly giving our tokens as gratuity to developers for helping to create the ULC software. We are also giving our tokens for completing bounties or providing other services to the project. The tokens will gain value based on the efforts of those who contributed to the project and the contributors will be the first to realize the gains of their efforts. This better aligns the incentives to ensure the project is successfully completed.

How can I obtain tokens?

There are several ways. If you are a developer you should fill out the Join form and request to join the development team and earn tokens that way. We also post bounties from time to time and you can earn tokens by completing them. We will have a faucet in the future, so signup to be notified about it. You can contact the developers and buy tokens directly from them. You can also check your favorite exchange to see if they have chosen to list our token.

Is this project similar to EOS?

In some ways it is similar to EOS since we are both building platform software and are distributing a token that can later be transferred to the network developed by the project. However, our network is technically very different in many ways. One key difference is our goal of maximum decentralization with many nodes able to join the network and low resource requirements for the nodes.

Is the ULC Project open source?

Not during development. Once the project is completed, the source code will be made available under a Creative Commons BY-NC-SA license with a restriction on commercial use. After 10 years, it will be available under a Creative Commons BY license with no restrictions. Anyone interested in reviewing the code during development, may do so with a NDA which expires after the code is released.

Where can I get answers to more questions?

You can check the Advanced FAQ on our Project Wiki. If you still have questions, email [email protected]

Join Us

Unlike most crypto projects, the development of ULC will be incentivized by the project distributing its own token for bounties instead of an ICO. That is, we will be rewarding contributors with ULT tokens. Bounties for specific tasks will be coming soon.

If you are excited about the project and interested in becoming a developer, don't hesitate to apply!