Heterogeneous cloud computing infrastructure market. Unchainet ICO rating – not rated.
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Ended ICO : 27/08/18 – 27/11/18
About Unchainet ICO (token sale)
UNCHAINET connects underutilized server resources with clients who need them. Our blockchain protocols govern the network, align provider incentives with computing resource quality giving choices and transparency to the cloud client market. Our security and substantially lower costs make our platform ideal for dApp development.
We believe we present a solution, which could help individuals, hosting providers and companies owning unutilized datacenters to get worldwide reach within minutes by connecting to the Unchainet network, renting their available server resources to a broad audience, and earning money while supporting the open internet. We call this beneficial mining. We expect that the consumed energy might bring value (benefit) to clients and might not be wasted in large amounts merely to keep the network running.
Cloud clients could at the same time be able to access substantial computational power for research, AI training, or for web and API hosting at better prices. These would be based on current market pricing and very low Unchainet network maintenance fees.
Unchainet aims to be more than “just another” cloud provider. We expect to build the Unchainet network with blockchain technologies at its heart, allowing resource trading in its UNET cryptocurrency, which is intended to run on a fast custom-made blockchain with a Proof of Beneficial Work algorithm. Introducing a cryptocurrency as a mean of exchange is intended to enable true cross-border and real-time sharing of computing power without restrictions. Quality and trustworthiness of nodes (i.e., providers) is expected to be consistently and transparently monitored by QoS Chain technology, allowing free transactions on a massive scale while keeping true decentralization, all backed by a resource trading crypto-economy.
In later phases of the project, this is intended to allow UNET tokens to be used outside of the Unchainet platform, powering microtransactions in other apps. The modular Unchainet blockchain architecture and our “blockchain as a service” offering is expected to enable developers to create custom blockchain apps with significantly more use cases than current smart contract platforms.
UNET Tokens (UNETs)
UNET tokens are ERC20 standard tokens, which we intend to create in order to facilitate compute resource trading on the Unchainet platform. After launching our proprietary blockchain main network, ERC20 tokens will be migrated in a 1:1 ratio to the Unchainet blockchain platform.
Unchainet intends to organize an offering of future tokens under a Simple Agreement for Future Tokens (“SAFT” or “Agreement”). The offering will be of SAFTs for the future issuance and delivery of 67%, or 134,000,000 of the total 200,000,000 UNET tokens for an aggregate of US$18,000,000. No further tokens will be generated beyond 200,000,000 UNET’s.
The base price for the ICO is expected to be $1 USD = 4.35 UNET, 1 UNET = $0.23 USD.