Universa is a new generation blockchain protocol that uses new technology that aims to improve speed and usability by delivering significant changes for mass adoption. The platform is designed for building business applications that can handle corporate management and state administration.
Universa focuses on tokenization and contractual agreements. Tokenization is converting any physical and non-physical asset into blockchain tokens.
Universa is powered by Universa Network, which is a group of Universa core nodes composing the Universa blockchain and Universa Secure Signed Document Service, also called Notary Cloud. The blockchain here focuses on only ensuring the validity of the state of transactions, and Notary Cloud works like a verifiable warehouse for signatures of the original contracts. The network is made around smart contracts and the changes or the transactions taking place on the network. Each time a new transaction is carried out, the current status of the contract and source of the transaction is circulated to all nodes.
All participating nodes in the Universa network are authorized and licensed by Universa and are run and managed by only Universa partners since the platform does not rely on untrusted participants. Universa Blockchain claims to be fast and can process tens of thousands of transactions per second.
UTN is the native utility token, and UTN tokens power the entire Universa ecosystem. UTNP, on the other hand, is a token on the Ethereum network created parallel to UTN. In UTNP, P stands for the placeholder. UTNP was created for more efficient interaction between Universa and existing crypto platforms.The token holders can either claim their placeholder tokens immediately via an Ethereum wallet or exchange them for UTN. The conversion between the two tokens takes place at a 1:1 rate, but users have to pay the network fees to get these tokens converted.
