The text below is an advertorial article that was not written by Cryptonews.com journalists.
Utopia, a decentralized, peer-to-peer ecosystem, the development of which was begun covertly in 2013 and released officially in November of 2019, providing access to secure and surveillance resistant communication and finance, this month launches Utopia USD stablecoin; UUSD.
The UUSD stablecoin is built upon Utopia’s serverless, peer-to-peer block?hain, that currently powers an all-in-one kit for secure instant messaging, encrypted email, voice communication and private web browsing.
Utopia USD, like the native Utopia currency Crypton, features anonymous transactions by default and does not reveal any identifying information to its blockchain, rendering its history completely untraceable. Every transaction is completely private and leaves absolutely no metadata visible. No other cryptocurrency currently provides this level of future-proof untraceable transactions. Competing private cryptocurrencies rely on obfuscation techniques rather than genuine anonymization and are vulnerable to tracking tools offered by the likes of CipherTrace.
Utopia USD is designed to maintain 1:1 parity with the US Dollar. UUSD is an anonymous, secure, instant and liquid payment method. Its value is backed by DAI cryptocurrency collateral that is publicly verifiable by the cold wallet address and equals the total supply of UUSD. The initial supply is 1,000,000 USD backed by 1,000,000 DAI located in the following Ethereum wallet: 0x2Cf6717fA2C1fea68F4bdedC26B578898651C270
The price of DAI is soft-pegged to the U.S. dollar and is collateralized by a mix of other cryptocurrencies that are deposited into smart-contract vaults every time new DAI is minted.
The liquidity of the Utopia USD is supported by market making algorithms on several exchanges including Crypton Exchange. Conversion is possible at a near-zero fee exchange rate. Crypton Exchange is a natively integrated anonymous crypto exchange with instant deposits and automated withdrawals. The exchange is available in censorship resistant form inside the Utopia ecosystem by domain CRP.
Utopia offers among the most advanced blockchain in the space and provides a combination of features unique for the cryptocurrency market:
Anonymous transactions by defaultInstant transactions (less than 3 seconds to confirm)Transactions approximately 30 times cheaper than EthereumAbsence of network congestion by design through P2P infrastructureNo KYC or transaction limits inside the ecosystemCrypto cards enable payments and invoicing dissociated from public keysVoucher code generation and redemption enable offline and paper money transfersDesktop GUI and console software, built-in API and tools for merchants
In addition to crypto payments, other Utopia ecosystem components include a decentralized form of DNS (domain registry), multiplayer games, Tor alternative secure network and Idyll browser created to surf deep sites hosted inside the Utopia ecosystem.
Utopia’s blockchain is based on Proof-of-Stake and Proof-of-Resources algorithms. Full nodes are located around the globe and participate in packet routing and validation receiving a reward every 15 minutes (block generation time) by providing internet connectivity, RAM and CPU resources. Each ecosystem user’s privacy is protected by utilizing a dynamic multi-link routing engine with MITM (man-in-the-middle) attack protection. Curve25519, XSalsa20 and Poly1305 algorithms are used to encrypt, sign and authenticate packets, objects and connections between peers.
Utopia’s desktop application is available for Windows, MacOS and Linux in 29 languages. Utopia takes the security of its ecosystem very seriously and has offered a bug bounty program since its launch in 2019. The ecosystem has been developed by a group of networking technology enthusiasts over the last 8 years. To eliminate any impact on the project, developers of Utopia will forever remain anonymous.
The launch of the Utopia USD will be supported by a massive airdrop campaign and several marketing initiatives in August of 2021.