Archethic update: UCO Live price, price chart, news and markets

Archethic (UCO): An Introduction

Archethic is a layer-one blockchain that aims to secure accounts by linking them to a cryptographically secured version of an individual's fingerprint. The goal of Archethic is to provide access to various technologies with the touch of a finger while also safeguarding one's identity. Archethic differentiates itself from other layer-one blockchains by offering faster validation times, higher scalability, and embedding biometry for enhanced tamper-proof security. The team behind Archethic boasts four years of research and twelve international patents, demonstrating their expertise. Their mission is to empower individuals with control over technology and their identity.

Archethic envisions multiple use cases, including decentralized identities, secure health records, programmable fintech, smart cities, and end-to-end e-commerce. The project has an ambitious roadmap that includes implementing its blockchain in supply chain management in 2022, assisting mobility and public transportation services in 2023, providing proof of identity for the Summer Olympics in Paris in 2024, and enabling biometric payments and securing medical records beyond 2025.

The Founders of Archethic (UCO)

Archethic was founded by a team of French financial professionals and computer science experts. The CEO, Sebastien Dupont, brings over ten years of experience as the Head of Mobile Banking in Africa and Deputy Director of Group Identity at French mobile operator Orange. The COO, Nilesh Patankar, previously held positions as the Director of Payments Technology at Barclays and VP of Product Development and Innovation at Mastercard. The team also includes researchers from École Polytechnique in Paris and professionals with work experience at renowned companies such as Mozilla, Google, and PwC. Archethic has established partnerships with HEC Challenge+ and several French accelerators, including the École Polytechnique X-UP accelerator.

Unique Features of Archethic (UCO)

Archethic has developed a proprietary and patented consensus mechanism called ARCH, which enables its blockchain to be utilized for various use cases. One of its unique features is tamper-proof biometric authentication, allowing the blockchain to be used for decentralized identity verification. This technology can provide access to major public events or communication without revealing personal identity details. Archethic generates cryptographic keys from biometric data within an individual's finger, ensuring the encryption of their digital identity. By offering this innovative solution, Archethic aims to achieve widespread adoption of its blockchain.

Additionally, Archethic claims the ability to integrate different services such as payments, inventory management, data storage and security, and more directly within its ecosystem. This eliminates the siloed structure of current services, where separate companies provide distinct services in traditional server-client relationships. By natively integrating oracles within its platform, Archethic can be utilized in fintech and health sectors to enable biometric payments and secure medical records.

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Archethic (UCO) Coin Circulation

The total supply of UCO is 10 billion. The token distribution is as follows:

• 38.2% Funding Sale
• 23.6% Deliverables
• 14.6% Network Pool
• 9% Enhancement
• 5.6% Team
• 3.4% Exchange
• 3.4% Marketing
• 2.2 % Team

The price at the Initial Exchange Offering was 0.007€, resulting in a market capitalization of 25.1M€ for Archethic. Tokens that were not part of the initial token sale are subject to a vesting period of two to five years. The network reserve will be used to incentivize miners, while the 9% allocated to network improvements can only be utilized once Archethic's valuation has grown 100X, i.e., after reaching 0.7€.

Security of the Archethic Network

Archethic utilizes its proprietary ARCH consensus mechanism, which shares similarities with the directed acyclic graph consensus mechanism due to its treatment of transactions as atomic units. Mining involves cryptographic verification to validate and secure the origin of a transaction using biometric devices, smartphones, hardware or software keys. As a result, only 295 miners are required to validate transactions. While anyone can own a storage node, the network selects miners in a fair and geographically distributed manner. Early investors receive preferential treatment to be chosen as miners.

Since transactions are individually chained, each transaction chain is stored in a reproducible and ordered manner across multiple nodes. Consequently, each node independently knows all the nodes hosting a given transaction, enabling efficient network querying. This geo-secure system is also capable of self-repair.

Where to Buy Archethic (UCO)?

UCO is available on UniswapV2, Bitglobal, and Probit Global.

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