Utopia Launches Fully Anonymous Stablecoin soft-pegged to the US Dollar backed by DAI

Utopia Launches Fully Anonymous Stablecoin soft-pegged to the US Dollar backed by DAI


Utopia, a decentralized ecosystem founded in 2013 and released in 2019 providing access to secure and surveillance resistant communication and finances, launched Utopia USD stablecoin named UUSD.

The UUSD stablecoin built on Utopia serverless peer to peer blockhain that currently powers all-in-one kit for secure instant messaging, encrypted e-mail and voice communication, private web browsing available for Windows, MacOS and Linux.

Utopia USD like a native Utopia’s currency Crypton features anonymous transactions by default and does not reveal any identifying information to its blockchain, rendering its history completely untraceable. Every transaction is completely private and leaves absolutely no metadata visible for public. No other cryptocurrency currently provides future-proof non-traceable transactions. Other competitors relies on obfuscation rather than anonymization and vulnerable to the tracing tools like CipherTrace.

Utopia USD designed to maintain 1:1 parity with the US Dollar. Utopia USD is an anonymous, secure, instant and liquid payment method. It’s value is backed by DAI cryptocurrency collateral that can publicly be seen on the cold wallet and equals to total supply of the UUSD. The initial supply is 1,000,000 USD backed by 1,000,000 DAI located on the 0x2Cf6717fA2C1fea68F4bdedC26B578898651C270 Ethereum wallet.

The price of DAI is soft-pegged to the U.S. dollar and is collateralized by a mix of other cryptocurrencies that are deposited into smart-contract vaults every time new DAI is minted.

The liquidity of the Utopia USD is supported by market making algorithms on several exchanges including Crypton Exchange. Conversion is possible at the near-zero exchange rate. Crypton Exchange is built-in crypto exchange with instant deposits and withdrawals. The exchange is also available using the internal secure network by domain CRP and known for no operation limits.

Utopia’s the most advanced blockchain provides additional features unique for cryptocurrency market:

  • Anonymous transactions by default
  • Instant transactions (less than 3 seconds to confirm)
  • Approximately 30 times cheaper transactions than Ethereum
  • Lack of the possibility of network congestion by design
  • No KYC and no transaction limits inside the ecosystem
  • Crypto cards allow to make payments and receive funds without the use of Wallet
  • Voucher code generation and redemption allowing offline and paper money transfers
  • Desktop GUI and console software, built-in API and tools for merchants

In addition to crypto payments other Utopia ecosystem components include a decentralized form of DNS (domain registry), multi-player games, Tor alternative secure network and Idyll browser created to surf deep sites hosted inside the Utopia ecosystem.

Utopia blockchain is based on Proof-of-Stake and Proof-of-Resources algorithms. Full nodes are located around the globe and participate in packet routing and validation receiving a reward every 15 minutes (block generation time) by providing internet connectivity, RAM and CPU resources. Each ecosystem user’s privacy is protected by utilizing a dynamic multi-link routing engine with MITM (man-in-the-middle) attack protection. Curve25519, XSalsa20 and Poly1305 algorithms are being used to encrypt, sign and authenticate packets, objects and connections between peers.

Utopia desktop application is available for Windows, MacOS and Linux and translated into 29 languages. Utopia takes the security of its ecosystem very seriously and offers bug bounty program since its launch in 2019.

The ecosystem has been developed by a group of networking technology enthusiasts over the last 8 years. To eliminate any impact on the project, developers of Utopia will forever remain anonymous.

The launch of the Utopia USD will be supported by massive airdrop and several marketing campaigns in August, 2021.


Source link

Leave a Reply