TECHNOLOGY UBCOIN MARKETPLACE PRODUCT TECHNOLOGY
The Ubcoin Platform applies blockchain technology to create, manage, and operate tokenized cryptocurrency. The platform operates on Ethereum-based smart-contracts. Platform structure. Architecture scheme. Basic system modules:
1) Authorization service Ubcoin-ID;
2) Billing system (wallet management, deposit/withdrawal, internal transactions);
3) Anti-fraud system (AI, internal regulations, ML);
4) Ad platform (placement and management, premium functionality, catalogue and search);
5) Auction platform (auction placement and management);
6) Transaction management system (holding of funds, transaction confirmation, transaction history);
7) Moderator and system administrator office;
8) Customer support and arbitration system.
A brief information about the modules would be given below ;
(A) Authorization and security
User authorization requires an email address and a password
a. Upon authorization the user enters an email address and a password.
b. If 2FA service is enabled, the user is to enter an additional password received via Google Authenticator or the Telegram bot.
c. 2FA via Telegram
The user is to add UBCoinBot to his/her Telegram account
2. Each time the user enters the application, he presses the button to get the password. After that, the Telegram bot generates a new password.
3. To enhance security in case that user data are suspected to be compromised, the bot may request the user to send the current location. The received location will be compared by backend software to the location of the user that is trying to access the application.
2. Security of payment transactions and other Ubcoins operations.
a. In order to make a payment, it is necessary to enable 2FA service. In case of money deposit/withdrawal the system will request 2FA user password.
b. Security keys to the wallets inside the system are stored on a separate server which is different from the one that stores the backend.
(B) Billing system (wallet management, deposit/withdrawal, internal transactions)
All Ubcoin wallet operations are performed in the application;
2. Upon registration in the system, the user receives access to an Ethereum wallet, that belongs to the system and is linked to the user. In order to top-up a Ubcoin wallet the user is to enter the wallet number that he received upon registration;
3. In order to withdraw funds, the Ubcoin user is to specify the Ethereum wallet to which the money will be transferred. The transaction is protected by the payment password.
(C) Ad placement. Ad search. Ad management. Categorization. Verification, fraud protection.
1. Ad placement:
a. Only users that went through the primary identification can place an ad;
b. The user presses the “create new ad” button;
c. Chooses the category;
d. Adds a description;
e. Attaches images;
f. Adds the price;
g. Specifies the meeting location;
h. At this stage, the user is offered various additional paid services: premium ad, top position placement for several days etc.;
i. After that, the ad is pre-moderated (including images validation, text content check, anti-fraud filters etc.);
j. If the ad moderation is successful, it is published in the system, and the author receives a push/email notification of the publication;
k. If the ad moderation fails, the author is notified via email of the refusal and the reasons for it.
2. Ad search:
a. The system offers the user the following ad search options:
i. Category search;
ii. Price filter;
iii. Publication date filter;
iv. Seller ratings filter;
b. During the search the user can perform the following actions with the ads he likes:
i. Add the listing to favourites;
ii. Use ad tracking service (price change and other dynamic parameters);
iii. Contact the seller via a personal message linked to the merchandise;
iv. To report the ad to the administration, specifying the reason: spam, abusive content etc.
3. Ad management:
a. The user can perform the following actions with his ads:
i. See the whole ad list in the selected section in the application;
ii. Change the price, description, images. Any changes to the add lead to premoderation before publishing the ad again;
iii. Promote the ad in the search;
iv. Enable/disable additional services;
v. Stop the ad from appearing in the search.
4. Verification, fraud protection:
a. Verification includes two aspects: content check and anti-fraud.
b. Content check:
i. In order to detect inadmissible images and text, the application uses machine learning technologies and AI. The system has a built-in set of regulations describing inadmissible content criteria. Based on these regulations, the system checks the content with the help of neural networks featuring innovative technologies, such as Machine Learning и AI (TensorFlow, deeplearning4j etc). The technological solutions are provided by the market leader TensorFlow.
c. Anti-fraud
i. Anti-fraud uses technologies similar to those in clause
4.b.i, but follows different rules.
ii. Examples of criteria used in anti-fraud mechanisms:
The number of ads from a single account in one category;
2. The total number of ads in the system;
3. Suspicious activity of a newly created account on the first day ;
4. Ads published by different accounts from the same IP address;
5. Ads published by different accounts from the same mobile device.
UBCOIN MARKETPLACE PRODUCT
Product Value Foundation
Their product is founded on the following cornerstones:
Cryptocurrency mass adoption. They promote mass adoption of digital assets that are both a means of settlement and an investment vehicle, thereby enlarging benefits for all parties to everyday buy-and-sell interactions.
Peer-to-peer interaction. Cut out as many intermediaries from the value chain, as possible. The platform facilitates smart contract execution between independent parties. The Ubcoin Marketplace does not own any goods for sale, it is not biased in its search results, and protects fairness of smart contracts.
Legal marketplace. They pay special attention to ensuring the legitimacy of goods and services sold on the Ubcoin marketplace. They are developing an advanced AI technology to help pre-screen seller postings for any potential infringements of reason, morality, safety and due care. Seller profile transparency and verification will be strongly encouraged and promoted.
Decentralization of transactions and settlements. Blockchain allows for decentralized initiation, settlement and fulfillment of transactions. Payments are immediate upon performance under carefully crafted smart contracts.
Impeccable interface. Their interface design brings a harmonious and seamless experience of buying and selling goods globally. They will strive to open our API to the community in order to develop the best adaptation of the platforms for specific local needs of the global community.
Open community. Some transactions may, in the future, require additional KYC/AML procedures for execution of smart contracts for certain types of deals involving third-party providers (i.e. delivery companies, couriers, notaries). Ubcoin platform envisions seamless engagement of these parties.
DO PARTICIPATE IN THIS GREAT PROJECT ON BE PART OF A GREAT HISTORY.
THANKS FOR READING.
To know more about this project;
visit the website: https://ubcoin.io/
join telegram group: https://t.me/ubcoinmarket
whitepaper link: https://doc.ubcoin.io/english_1.6.pdf
my bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=1070043
ANN/BOUNTY THREAD : https://bitcointalk.org/index.php?topic=3094107.0
facebook link: https://facebook.com/Ubcoin-838741126308809/
twitter link: https://twitter.com/ubcoin
https://bitcointalk.org/index.php?action=profile;u=205338
