Universal Credit SystemThe Universal Credit System is a pioneering universal cryptocurrency system in which a time-based stablecoin called Universal Credit Coin (UCC) is issued. The innovative proof-of-trust concept introduces a novel file-based payment protocol that empowers users to manage themselves and their funds offline. Instead of a centralized monolithic blockchain, each user manages their own data structure in the form of a tangle (directed acyclic graph, DAG). Almost everything about this cryptocurrency was developed from scratch and sets new standards.
The whole currency is based on an independent digital cryptocurrency standard. Instead of mining new blocks in some form and receiving a reward for doing so, as was previously the case, all participants are simply credited with a fixed number of Universal Credit Coins each day. Compared to the gold standard, where a currency is backed by gold, Universal Credit Coins are backed by time. Universal Credit Coins are not granted by a central authority; instead, users manage themselves and their balances themselves based on the proof-of-trust (pot) algorithm. Through this complete decentralization of money creation, the cryptocurrency solves the otherwise prevalent problem of ensuring sufficient money supply for participants and can thus be a true replacement for existing money. However, this is just one of the many benefits that this new cryptocurrency brings with it.
Of course the Universal Credit System also supports native fungible/non-fungible tokens and smart contracts. The wallet was developed as a Bourne Shell script for Unix-like operating systems (UNIX/Linux/MacOS) and the source code is publicly managed on GitHub. In addition to a rudimentary graphical user interface that is currently available in 13 languages, the wallet also offers a command line mode with a very extensive command set, e.g., for automated payment solutions. The ecosystem also includes the option of providing access to the wallet's functions via a website (web wallet) and the ability to operate a dedicated synchronization server to accelerate information exchange among users. The documentation, the white paper, and other important information can be found in the download area of the website.
GitHub:
https://github.com/universal-credit-system/Website:
https://www.universal-credit-system.org/de/Forum:
https://forum.universal-credit-system.org/Discord:
https://discord.com/invite/7JYhMGuMsNInstagram:
https://www.instagram.com/universalcreditsystemMastodon:
https://www.mastodon.social/@universalcreditsystemTelegram: t.me/UniversalCreditSystem
