“Buy when there is blood in the streets”, a saying by Baron Rothschild from the 18th century. For the past few months, we have seen nothing but blood in the streets for the crypto altcoin economy. We assume a bottom, only for a new bottom to arrive. So the question begs, are we there yet?
During this market, we have witnessed projects vanish from the space and developers evaporate into thin air. On the flip-side, some projects keep pushing through, silently making massive technological advancements in the crypto space. We have our eyes on a few projects that are making fantastic progress when it comes to tech and adoption, one of which I personally believe to be the next big thing everybody will be talking about in 2020.
uPlexa is a private, decentralized p2p electronic payment system powered by the mass computing power of the Internet of Things (IoT). uPlexa has recently added an abundance of new features to their technology such as UNApps (privacy based decentralized apps powered off of PlexaNet), Utility Nodes (masternodes that act as exit nodes for PlexaNet), an upcoming dVPN (decentralized VPN), and increasing overall cryptography in the crypto sphere by working on a Quantum-Resistant algorithm for the future.
uPlexa has been on our radar for quite some time now, and every time we have mentioned uPlexa, we have been right about its upwards movements. uPlexa recently had to delay their “Steadfast Storm” release to January 1st, which was originally scheduled for November 1st. The reasoning provided by the lead developer was pretty sensible, a major upgrade that required more developments and testing. On the other hand, the article also mentioned that the scheduled hardfork for the halvening and TX fee reduction will still occur on November 1st, 2019.
The uPlexa project is a team of five individuals working with a strong, yet, small community to establish one of the most decentralized peer-2-peer payment networks available with a multitude of privacy applications and it’s own self-sufficient economy. The project has been in the makings since February, 2018, and quietly launched their mainnet in October of 2018. The team has been quick to launch several technologies, such as their android miner, android wallet, web wallet, programming libraries for NodeJS, PHP, and Python, and even plugins for WooCommerce, Magento, Prestashop, OpenCart, and WHMCS.
According to the recent update to the projects timeline, uPlexa will be working on a post-quantum algorithm next year to catch the bird early on. “Afterall, we are in crypto’s as a community. Crypto meaning a currency built off of strong cryptography” says Kyle Pierce, founder of the uPlexa project. He could not be more right on this subject. The very definition of a cryptocurrency: “A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.” If cryptocurrencies do not continue to update and adapt to new technology, they will be left in the dust. Stronger cryptography is absolutely a must.
Steadfast Storm is to enable “Utility Nodes”, uPlexas version of a “Masternode”. The utility nodes will help power the anonymity network and UNApps (privacy based decentralized applications) such as the dVPN set to be released in Q2 of 2020. The anonymity network, known as “PlexaNet” will also help provide near-instant transactions and add an additional layer of privacy to users looking to surf the web. Utility nodes will receive 20% of all block rewards, providing a massive incentive to utility node operators with such high dividends. PlexaNet, unlike TOR & I2P will incentivize users to create and operate Utility Nodes (exit nodes) via the means of dividends instead of simply volunteering their time and resources for free. This may end up locking a major amount of the supply while the demand starts to increase greatly for those who decide to operate a utility node.
Notably, Utility Nodes bring both demand and lessen supply, and the decentralized VPN is also supposed to be launched next year. The dVPN looks to have a tiered model ranging from free up to priority (for streaming). The prices are supposed to be in-accordance to the TX fee structure, meaning 1GB of data for priority dVPN access could cost as cheap as $0.01-0.03 USD. The downfall, is users will have to learn how to use uPlexa coins in order to pay for the paid tiers of the dVPN… which may not necessarily be a downfall for early investors in the uPlexa project. In reality, the uPlexa dVPN could very well be the most secure, developer transparent and cost effective VPN solution. Users may flock to the uPlexa dVPN to replace their existing VPN providers, massively inflating the price of $UPX.
Binance Bribery Issue
On other news, uPlexa has also recently faced a major debacle with a project attempting to steal it’s ticker symbol ($UPX). The debacle started when Binance DEX approved the listing of a “sh*tcoin” project known as “UDAP” on their exchange, using uPlexa’s ticker symbol. This news has attracted an abundance of attention, specifically after the notorious stories coming to light on potential Binance corruption and misconduct. A fair warning to traders: watch out for listings and ticker symbols on Binance DEX as they may not be the project you think it is.
In further exchange related news, the UPX listing proposal seems to have been approved on the Github repository for BISQ. BISQ is a true decentralized exchange that offers private & secure cryptocurrency trading without the requirements of KYC. It is presumable that uPlexa will be added to BISQ on the next release later this month.
Analyzing the historical prices of uPlexa over the past year, there have been two bullish tendencies. uPlexa is hovering around 3 satoshis on the exchanges (0.00000003 BTC/UPX), with an all time high of 21 satoshis (7x higher). uPlexa’s market cap on both “pumps” hit just over $1.5M. Now that uPlexa has moved into the realm of transparency and longevity by revealing some of their team members such as the co-founder and eCommerce developer, and uPlexa’s upcoming one year birthday (having done much in the past year), we can expect a proper value discovery soon. Economically speaking, factoring in things like the halvening, utility nodes, and the dVPN, uPlexa is set to make some big moves.
Just how long until uPlexa takes over Electroneum’s current $40M market cap? uPlexa has more technology to boot but was also born in a bear market. If UPX only ever gets to 50% of ETNs market cap ($20M) that wouldbe a 50x if you were to buy at the current price of 3 Satoshis. In crypto markets, that could happen in the blink of an eye when a gem like uPlexa is properly discovered.
Food for thought:
If uPlexa was to reach Grin’s market cap of $30M, that would be 75x in gains. $1,000 invested would become $75,000. If you compare the two projects, it’s easy to see which one has more tech with a solid future.
If uPlexa was to get to 10% of the Monero current market cap of $971M, that would result in a $97.1M Market cap, which is 242x in gains. That means $1,000 invested at the current price of 3 satoshis would become a whopping $242,750…
Discord Chat: https://discord.gg/a7mAQwJ
Telegram Chat: https://t.me/uplexaOfficial
What are your thoughts?
Leave your opinion on the current alt market and the uPlexa projects progress on smashing new records for technological advancements.