According to the data of CoinMarketCap, there exist over 1,500 different kinds of digital assets,with the total value once over $800 billion. The number keeps increasing with hundreds of Bockchain projects going online each year. Faced with such a consistently growing digital assets market, the investment and management of digital assets has to rise to the occasion.
One of the largest challenges is that there’s a contradiction between the rapidly developing digital assets market and the laggard financial infrastructure service. We all know that the basic service of traditional financial industry is account and assets management service provided by banks. However, in the newly-developed digital currency industry, digital assets wallet is acting as the basic account, payment and settlement.
Compared with traditional commercial banks, digital assets wallet realizes Deconcentration and trustless. However, there are still many problems in the aspect of account safety, convenience, accessibility and transferring speed. According to the related statistics, in the few past years, owing to the loss and reveal of private secret keys, the losses of customer accounts stolen have become a ridiculous figure.
What’s more, crowd funding, the most popular one in digital currency market, is faced with troublesome problems of investment process, and token distribution scheme which is hard to track. It results in the consequence that crowd funding lacks enough openness and transparency and is unable to guarantee the benefits of investors.
What BitUN is trying to resolve is to combine the deconcentration character of digital assets wallet with safety and accessibility of traditional commercial banks. BitUN, which plays a role of both private savings bank and investment bank and provides the most important and basic services for both financial markets, comes into being.
BitUN, A Cross－Chain Assets Private Bank Based on Lightning Network 2.0
Since Bitcoin, Ethereum and the other Blockchain networks apply different network protocols, it’s hard to establish a channel for the lightning network between Blockchain networks of different structures. BitUN, based on CAS Blockchain network, creatively defines the meaning of the universal protocol–Lightning Network 2.0 that links Blockchain networks of different structures. This is a digital currency settling and liquidation network that resolves the hard problem to perform assets management and circulation on many Blockchain networks safely and conveniently.
When BitUN is establishing the lightning network channel, it locks the assets of the customers at the original chain through Smart Contract so as to trigger BitUN to execute the Smart Contract that extracts the value. The value extracting Smart Contract will trigger the double-entry of BitUN system. The bookkeeping is able to record the assets of the customers accurately in the original chain. The whole process is performed through Lightning Network 2.0, which guarantees the safety of the original chain assets, but also greatly enhances the transfer speed. The service charge fee is almost zero. At the same time, users can also return the original chain assets safely through BitUN authorization. All the information can be inquired through the Blockchain browser of BitUN to guarantee the traceability of the assets.
BitUN is also dedicated to build Lightning Network 2.0 into an open protocol of the industry, establishing a world largest cross-chain digital currency transfer and liquidation ecosystem in which all of the assets on the chain can be transferred faster and safer. Up to now, BitUN has reached a cooperative intention with many Blockchain networks and many digital assets exchanges globally.
By the application of Lightning Network 2.0 and the settlement of the ecosystem, BitUN can not only realize the assets management and circulation of Blockchain networks of different structures, but also realize decentralized OTC trade, connecting with global exchanges seamlessly and other important extended functions, providing a revolutionary distributed digital finance service for people all over the world.
BitUN, an ICO Store Based on Smart Contract
At present, the crowd funding projects on the market are in chaos. The investing process becomes stuck. Generally, investors have to transfer the assets to the address whether it’s credible or not. The project issuer still performs a manual accounting for the assets and token of investors. Moreover, investors are also impossible to track the distribution and defrosting plans of the token. They have no choice but trust the project issuer. It’s hard to imagine that this is an industry that is developing ahead of the game.
BitUN integrates the investment, distribution and defrosting plan of the token with Blockchain through reshaping the crowd funding with Smart Contract and Blockchain technology. The distribution of token and the defrosting plan of token are set up before distributing the token that is locked up on the Blockchain through a smart contract.
BitUN also optimizes the whole process in which users will have a safer and faster crowd funding experience. Furthermore, all of the token distribution and defrosting plan can be checked through the Blockchain browser of BitUN. The tokens will be transferred to the targeting account only after meeting the enough defrosting requirements.The entire process is openness, transparent and decentralized.
In March 2018, BUC, the token of BitUN, as the first Blockchain ICO project of BitUN, will be issued up to 2 billion, 40% of which will be offered for sale for the public.
BitUN Official Telegram group: https://t.me/BitUNEN
BitUN Offical Website: https://www.bitun.io/