Utility Network Price (UNC)

Utility Network (UNC) Price Now

Utility Network price today is $0.0146 with a 24-hour trading volume of $51,372. UNC price is down -0.34% in the last 24 hours. .

What Is Utility Network(UNC)?

Utility network is a new distributed blockchain network technology based on Tensor Processing Unit (TPU) chip computational power that combines peer-to-peer payments and verifiable decentralized computation for parallel computation, revolutionizing the blockchain network ecosystem and computing market. Utility uses a consensus mechanism based on verifiable computational power with command signatures to enable secure, transparent and efficient transaction processing. At the same time, Utility provides more powerful hardware and software support for distributed computation by introducing execution virtual machines, Kubernetes, WASM and PyTorch integration, and cross-domain data scheduling. The Utility network builds consensus based on chip verifiable computation, combining proof of computational power with blockchain cryptography to further improve security and transparency of the system.

The Economic Model of Utility Network(UNC)

The economic model of utility network: it mainly concerns about the token cycle and computing ecology, including mining mechanism, token reduction, Gas and Burn Fee, machine time rental order and inference deployment order. Through this economic model, the Utility network achieves fair incentive allocation and rational resource utilization. In terms of future-oriented possibilities, Utility network supports more security engines by developing UP (Utility Proposal) to verify heterogeneous chips, storage chips and instruction support, computational storage, instruction sets and network devices to build an incentive network that takes full advantage of both storage and computation; and to realize privatized computation services so as to provide users with more diverse computing services. All the technologies, functions and expectation surrounding Utility network are concisely summarized in the following conclusion figure.

How Does Utility Network Work?

Utility Network is a decentralized computing service platform built on blockchain technology, which aims to solve the limitations of existing centralized computing resources and provide users with more efficient, secure and scalable computing services. The main technical features of the Utility network as described in details above include:

• Efficient consensus mechanism: Proof Of Computation Integrity (POCI) breaks the limits of previous model of computational power consumption, and achieves fast consensus and block generation through chip ownership and VRF for random number generation interval and verification, combined with multi-signature verification and roundbased pre-burst block election. Meanwhile, RPOI (Rent Proof Of Instructions) also ensures the effective rental and efficient use of computational power to promote the generation of distributed computational networks. On-chain block bursting state: the double verification of block bursters is accomplished by onchain computation through Computing Availability over Time(CAT) and POCI, avoiding malicious access and fairness and competition in electing block bursters, ensuring effective computational resource allocation while reducing the impact of the Byzantine General problem.
• Merkle State Machine off-chain data verification: Merkle Tree is a data storage structure used in the Utility network to relieve the pressure on the onchain data, transferring off-chain data to the Utility network through Rollup and activating the Merkle State Machine (MSM) to store the hash values of these data or the root node of the Merkle Tree in an orderly manner on the blockchain while enabling fast verification. This technology reduces the storage pressure on the blockchain network while ensuring the security and integrity of off-chain data.
• Virtualization and isolated execution environment: based on Arm framework driver and video memory virtualization support, the TPU chip is equipped with flexible sharing of computing tasks, improving the overall computing efficiency. The execution environment is combined with container technology to enable a highly isolated execution environment to ensure the security of computing services.
• Multiple execution VM support: including Solidity VM, Kubernetes integration, WASM integration, and PyTorch outreach computing support, building a feature-rich and compatible computing platform.
• Utility AI computational network: the Utility AI platform layer is mainly composed of four sub-platforms: a one-stop platform for debugging and training deployment of four AI centers, a unified scheduling and management platform for AI network tasks, a unified storage and management platform for AI network data, and an AI network data market. The goal is to build an innovative AI computing infrastructure with easy access to computing resources, efficient and unified scheduling of tasks, convenient and inexpensive invocation by users, and a sustainable development operation model and mechanism.  

Utility Network (UNC) Community

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