UPlexa Knowledgebase:What is uPlexa
Today's ever-expanding world has everything moving faster and faster. Technology being the most obvious example of this; all around the world, tech business is booming and growing at such a fast rate that few governments and legislators can keep up.
As the technology frontier keeps moving forward, we are discovering never-seen-before problems. Chief among these are the issues of privacy and anonymity, which are most obvious in relation to the internet.
For years past, most internet users were oblivious to these issues. Only recently, thanks to the efforts of privacy-rights organizations and others, has the layperson become aware of how both governments and private companies are violating basic rights. These violations are running amok, without any regulation, because it is often the entities responsible for this regulation who are guilty.
Your smartphone is monitoring your every movement. Artificial intelligence is listening in to and transcribing all your conversations. Everything you buy and sell online is stored in some hidden database in some server room alongside the information of many others.
Privacy and anonymity while using internet-connected devices has become something of a myth for most everyday users. Some say it is too late to recover our rights now. However, with the advent of cryptocurrencies and blockchain technology, we have an opportunity to take back what is ours. If those in power are serving their own pockets and not the people, then it is up to the people to bring change.
Bitcoin instills hope in those seeking to take back their privacy, anonymity, and even more importantly, their financial freedom. Unfortunately, Bitcoin, as the very first cryptocurrency, has its downfalls. Even though it offers some anonymity in the form of an anonymous Bitcoin wallet address, it does not hide your identity if you use that wallet address to receive to send Bitcoins to some regulated entity such as an exchange. The moment they link your address to you, they can see your entire Bitcoin transaction history, and anybody may see how much bitcoin you own.
Despite these drawbacks, people have been using Bitcoin to purchase everything from pizza and drugs to real estate. Eventually, a new, much more private, cryptocurrency appeared on the scene. This next step toward an anonymous blockchain, which hides all transactions while still allowing miners to process transactions, is called Monero. Monero's technology ensures that all your transactions are untraceable and private. Thus, it is extremely difficult to link any Monero address to a specific person. Nevertheless, even Monero has its drawbacks: it is unsuitable for the Internet of Things and is vulnerable to ASIC miners, among other things such as not being reactive with vulnerability disclosures.
This is where uPlexa comes in. uPlexa uses a modified version of Monero's blockchain consensus system to create a peer-to-peer electronic payment system focused on harnessing the power of the Internet of Things (IoT) and anonymity. These range from enabling complete anonymity for e-commerce stores and consumers to providing IoT devices with rewards for acting as the backbone of the network.
uPlexa supports both anonymous transactions and anonymous storeowners, because we disapprove of the storage and sale of personal information for marketing and all other purposes. Alongside powerful API integrations, uPlexa supports multiple programming languages such as NodeJS, PHP, and Python. Even if you do not have a developer to integrate the API, you can install any of our plugins provided you use a supported platform such as WordPress, Magento, Prestashop, Opencart, or WHMCS. The network is also working on its very own merchant payment processor, known as PlexaPay, allowing you to accept private uPlexa payments on your websites, apps, or games within minutes by simply embedding a script. With PlexaPay, you can also send invoices or money via email to anybody in the world.
Thus, we are providing a very powerful alternative to traditional payment processors such as Stripe and PayPal. These traditional services have high fees, slow transactions, and they may hold your funds for months at a time with absolutely no support. This stunts the merchant's growth, since they are not able to reinvest that held-up money into advertising or some other area of their business. A lack of capital and low cash flow is one of the most common reasons businesses fail. In uPlexa's ecosystem, transactions will be near instant and only you have control over your funds, which puts the control back into your hands.
How are we able to support such amazing features? uPlexa is the power of the IoT harnessed into a single decentralized network. Each node on our network is incentivized to provide a portion of their CPU power. Our core objective is to generate a profitable amount of uPlexa for nodes to help pay for the electricity costs involved in running the IoT device.
Just like in other areas of uPlexa, the IoT mining network puts the power into the hands of the people. You can choose how much of your CPU is utilized. uPlexa will eventually have mining software for nearly every IoT device out there, and even if software is not available for your device, you can mine on the web without having to download any extra resources.
uPlexa is not a company, but a community. The complete decentralization of uPlexa is our ultimate goal, while the core intentions of uPlexa is to allow for anonymity, privacy, and overall individual freedom. Unfortunately, there are large corporations, malicious actors, and agencies looking to disrupt and disable anonymous based payment services like ours, and that is why we need you, the community of consumers, merchants, IoT device users, and contributors to help us to accomplish this magnificent vision. Enough of the rambling, check it out for yourself: https://uplexa.com
