The Ubbey Network & A Decentralised Future
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Since its introduction 10 years ago, cloud storage has evolved from a buzzword to a way of life for many of us, providing us with an access to store and access our data remotely over the internet and in many cases, automatically by syncing with our favourite devices.
In fact, the cloud storage market is projected to experience an annual compound growth rate of nearly 30% to reach US$92.488 billion by 2022 from just US$25.171 billion today!
The World Is Generating Tremendous Amounts Of Data
While most retail customers buy storage to store personal files, from work documents to their favourite movies and pictures, the world is moving towards a data-heavy new reality.
With advances in technology such as artificial intelligence and the integration of the Internet of Things into our daily lives (IoT), the demands for storage are being challenged constantly.
By 2020, there will be over 20 billion connected devices, all of which will generate tremendous amounts of data that will demand proper storage, management and retrieval of their information. Take for instance a coffee machine that informs you on your mobile phone through an app that your favourite blend has run out while automatically re-ordering for you online — this interaction alone requires the right management and storage of user data to remember your preference for just coffee.
With the world becoming more data-centric, users have two main options in cloud storage — a personal cloud or a public cloud using centralised servers.
The Challenge With Centralised Storage
While storage providers such as Dropbox are easily within reach, they come with them the risk of data breaches and downtime from the fact that they operate as centralised data centres.
From the risk of your private files going public to downtime & outages that could hit the servers at any time, your data isn’t exactly secure and a data breach could mean anything from a mild irritant to a huge business issue if you are running an online business connected to the cloud.
There has to be a better way!
The Ubbey Network — Powered By Blockchain Technology
The Ubbey Network is a decentralised network developed by Ulabs. Using the ownership protocol to allow the ownership exchange of digital and physical assets from one IP address to others on the Ubbey Network just like transferring bitcoin from person to the next.
The data is sharded, encrypted and distributed across a network of nodes in the Ubbey Network making the data virtually breach-proof while allowing for an uninterrupted upload and download experience. Best of all, if you accidentally lost your data, you can always retrieve it back from the network in total privacy — only you have the keys to your data.
Introducing The Ubbey Box — Your Gateway To The Ubbey Network
Designed by Universal Labs, the Ubbey Box functions as a personal cloud storage for individuals and enterprises. With the first version providing 1 TB or 2 TB worth of storage, the Ubbey Box allows users to store their data and back up their files at their own private space and access it from anywhere and at any time.
As we progress more towards a data-centric and data-integrated world with the IoT, the Ubbey Box will be able to connect and communicate with your various smart devices in the future, using your personal information and preferences to customise your life and make smarter decisions for you (and of course, all this data is private and belongs only to you).
The Ubbey Box Functions As A Full Node In The Ubbey Network
That means you are part of the network where sharing of digital data can occur. That means with the Ubbey Box, you can choose to share or rent out your spare storage space to the network and become a ‘miner’ earning for yourself our very own cryptocurrency ‘You Coin’ — all this being done through our Proof of Storage consensus algorithm.
The Personal Cloud Drives The Adoption Of The Ownership Protocol
At the core of the Ubbey Personal Cloud is the desire to spread the adoption of our Ownership Protocol (OWP) to our users and the rest of the world.
Our OWP is a decentralised public ownership registry that has the ability to record the ownership of both digital assets such as tokens and physical assets that include land and property. OWP solves the replicability and double-spending problems of digital asset ownership, bringing the authentic and un-tampered ownership record to life.
The utility of the OWP allows developers to create novel Dapps and users of the Personal Cloud to easily access and pay for Dapps.
Use You Coins To Buy Additional Storage or To Use DApps
Because the Ubbey Network is made up of a network of nodes, all connected to Ubbey Boxes that consolidates the free storage space of their users, you could easily access more data storage & use the digital assets of other users by paying YouCoins.
Concurrently, the ownership protocol that powers the network allows decentralised applications to be built on top of the network and You Coin is the cryptocurrency that is used to pay for the usage of such apps.
In the future, holders of You Coins will also be able to trade them for alternative cryptocurrencies such as ETH and bitcoin.
Powered by blockchain technology with the ability to store both on a personal basis and participate in the Ubbey Network to rent excess storage space or buy additional storage, the Ubbey Box is the first step in revolutionising the future of cloud storage making it cheaper, safer and more efficient.
The Ubbey Box starts at US$199.00 is available for pre-orders at:
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Official Website: http://ulabs.tech
Telegram Group: https://t.me/universallabs
Originally posted on Medium at https://medium.com/universal-labs/the-ubbey-network-a-decentralised-future-2738f8114993