Welcome to the UENC technology wiki, a document designed to help each community user learn more and better use UENC.
What is UENC?
UENC is a high-efficiency and energy-saving TPS decentralized public chain system with unlimited expansion, which realized a low-power CPU working mode through the DPOW consensus algorithm. Each node has a complete node function in the network, and the complexity of the algorithm is reduced under the premise of ensuring safety, which realized the fast and highly concurrent payment transactions on the chain.
At present, any available computer can participate in the infrastructure construction of the network. The multi-language smart contract WASM supported by UENC can make it easier for developers to enter the development of DAPP. What is more, UENC will integrate cross-chain technology to let high-energy-consumption encrypted assets circulate quickly on the chain at a lower cost through the UENC network. Meanwhile, it is also easier for enterprises or individuals to use encrypted tokens to complete the development of DAO under smart contracts.
What is staking?
In the primary network of UENC, the stake is behavior that enters the UENC network through locking a certain quantity of UENC. UENC adopts the DPOW consensus mechanism to select verification nodes. The network uses a certain amount of the stake as one of the trusted proof of nodes.
Packing fee&Gas fee
The packing fee is the number of UENC public network nodes obtained through setting transaction processing. UENC network is divided into public nodes and verification nodes. The public network node is responsible for the bridge verification node to ensure the timeliness of data transmission. The public network can help more users timely deal with the on-chain transactions. Meanwhile, participate in the transaction body of each verification. In addition, need to set up the packing fee and signature fee, verification nodes service the specific users, can set packing and signature gas fees regarding the self-situation.
Proof of Work. The Directional proof of work (DPOW). The DPOW algorithm of the UENC uses the node signature mechanism. The initiating node performs a signature on the transaction body and transmits it to the next node through the network. Then, the next node verifies the node that signed the last time in turn and waits for the number of signatures to reach the set consensus number, after that, the fragmentation completes consensus and reaches consensus on the entire network.
If a malicious user tries to spend their bitcoins to two different recipients at the same time, this is double spending. Bitcoin mining and the block chain are there to create a consensus on the network about which of the two transactions will confirm and be considered valid.
A private key is a secret piece of data that proves your right to spend bitcoins from a specific wallet through a cryptographic signature. Your private key(s) are stored in your computer if you use a software wallet; they are stored on some remote servers if you use a web wallet. Private keys must never be revealed as they allow you to spend bitcoins for their respective Bitcoin wallet.