UMKA: (DECENTRALAZIED LABOR MARKET)

in #money6 years ago (edited)

29572670_1419959411483829_5373674760278003531_n.png

What is UMKA?

UMKA is a decentralized labor market. It is a proficient scheme application and a group-building manifesto based on the blockchain innovation.
UMKA is a pleasant space for cooperation amongst employers and contractual workers that offers a wide cluster of helpful devices incorporated into its system.

Screenshot_10.png

How does UMKA work?

The decentralized application UMKA depends on a quick Turing-finish blockchain with cheap and adaptable efficient contracts (AgileSC) alongside the Byzantine-fault-tolerant (BFT) Delegated Proof of Stake accord calculation, based on EOS.IO.
Screenshot_5.png

In order to make more comprehensive monetary relations between clients, UMKA presents assets for cryptocurrencies and fiat monetary forms. An asset is basically a token (or a symbol) for a currency in the UMKA blockchain upheld by the cryptocurrency balance on a client's account in his/her UMKA wallet and the fiat adjusts on the account of the UMKA body. Resources permit limiting transaction costs for clients since the stream of funds inside the platform won't be impacted by other blockchains' or banks' payments. Assets are utilized for quick work of keen contracts and financial security insurance for clients.

Screenshot_10.png

The stream of assets is led by means of keen contracts which at the beginning stage will work with assets of Bitcoin and Ethereum. Later on, 7 new cryptocurrencies and fiat resources will be presented.
The following currencies operations will be possible in UMKA’s system:
Screenshot_6.png

UMKA Blockchain:

Consensus Algorithm:

Proof of Work (PoW) is a standout amongst the most prevalent consensus algorithm utilized as a part of blockchain solutions. One of the fundamental issues of PoW is its execution: computing requires powerful equipment, the system does not scale well, and exchange affirmation takes quite a while. Proof of Stake (PoS) is a commendable other option to PoW, since it has better execution. However, in the event that enough finances are possessed by a predetermined number of individuals, we confront the danger of centralization. Delegated Proof of Stake (DPoS) depends on PoS and presents components of participatory democracy. DPoS lets network members choose trusted block creators called "Witnesses" who claim elite hardware. In DPoS, it is possible to make obstructs with an interim of 0.5 seconds and process more transactions in a unit of time. DPoS is likewise generally fork-proof.
The BFT-DPoS algorithm includes the Byzantine fault tolerance (BFT) workman which distinguishes malevolent block makers and furthermore diminish the interim for irreversible affirmation of transactions in a block to ≈1 second. This consensus algorithm is utilized as a part of UMKA's blockchain.

Screenshot_10.png

Software Implementation:

The decentralized application chips away at the previously mentioned blockchain which gives it a chance to run easily utilizing the framework's assets and, if necessary, utilize more assets. The keen contracts are written in the C++ programming language, which is an universal, helpful instrument for the task.

Token Sale:

The UMK token is an ERC20 token issued on the Ethereum blockchain. UMK is a security token and an investition token. It gives its proprietor the right to seek after their venture interests.
Screenshot_8.png

Sale:

Screenshot_1.png

Token Distribution:

Tokens will be distributed as follows:
Screenshot_3.png

Screenshot_10.png

Bonuses for Investors:

Bonuses are additional tokens given to the investor besides the purchased tokens as long as the investor has purchased a certain minimal amount.
Screenshot_9.png

Investment Distribution:

Screenshot_2.png
During the token sale it is planned to gather funds in the following range:
Soft cap: $1,000,000
Hard cap: $10,000,000
Funds gathered in the process of the ICO will be allocated as follows:
Screenshot_4.png

Conclusion:

The UMKA service is a decentralized user-managed framework. It depends on Delegated Proof of Stake, a consensus algorithm of the blockchain.
The "UMKA Foundation" guarantees the system's activity and improvement. Agile Smart Contract containing members' information, transactions and terms thereof are recorded in the blockchain. It implies that all transaction information is open to all administration members equally, however, the corrections can be presented by an transacting Employer and a Freelancer as it were.

Screenshot_10.png

Screenshot_11.png

For more Information please visit the official links below:

WEBSITE|WHITEPAPER|TELEGRAM|FACEBOOK|TWITTER|BITCOINTALK

Author: Ahtsham
Bitcointalk username: Ahtsham90
Bitcointalk profile link
Ether Address: 0x66EF10B68C2e765E9CbF5994D2d8CAd7F9b0E748

Sort:  

Congratulations @ahtsham90! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of posts published
Award for the number of upvotes received

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Do not miss the last post from @steemitboard!


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!