On October 18, 2024, the UPCX team announced that its mainnet has officially gone live. This milestone marks significant progress in the UPCX ecosystem, signaling a crucial step toward providing more efficient, secure, and convenient payment and financial services to global users and businesses.
Following the launch of the mainnet, UPCX’s governance token UPC has shown strong performance, with its price currently rising to $2 and a 24-hour increase of 6%. According to the latest rankings on CoinMarketCap, UPC is positioned 375th with a 24-hour trading volume of $2.21 million and a real-time market cap of $97.02 million. These figures fully reflect the market’s high recognition and confidence in the UPCX project.
As of now, the total amount staked on the official UPCX staking platform (upcx-staking.io) has exceeded 210,000 UPC. This not only demonstrates the healthy development of the UPCX ecosystem but also reflects the community members’ support and trust in the long-term development of the project. The successful operation of the staking mechanism will further enhance network security and stability, providing users with reliable income mechanisms.
The official launch of the UPCX mainnet signifies that UPCX is gradually realizing the vision and technical goals outlined in its whitepaper. Here are the main impacts and functions brought about by the mainnet launch:
1.High-Performance Blockchain Payment System: UPCX mainnet adopts a hybrid DPoS and BFT consensus algorithm, ensuring high transaction throughput and fast transaction confirmation times. Its processing capacity can handle thousands of transactions per second, comparable to traditional financial institutions’ payment systems.
2.Diversified Asset Support: The mainnet supports the issuance and management of various assets, including stablecoins (MPA) and user-issued assets (UIA). Users can create and manage digital assets according to their business needs, greatly expanding the application scenarios of financial services.
3.Convenient User Experience: UPCX’s super app integrates multiple functions such as payments, asset management, and messaging. Users can perform various financial activities in daily life within a single application, enhancing the overall convenience and practicality of the user experience.
4.Cross-Chain Interoperability: Through the implementation of cross-chain bridge technology, UPCX achieves interoperability with other blockchains. Users can easily transfer assets between different blockchains, utilizing the strengths of each blockchain, which enhances the flexibility and scalability of the entire ecosystem.
5.Security and Future Quantum-Resistant: UPCX mainnet employs quantum-resistant cryptographic algorithms to ensure network security in the age of quantum computing and protect users’ assets from emerging threats.
Koki Sato, the Chief Marketing Officer of UPCX, stated: “We are an original Layer 1 chain, strong enough to meet the needs of the real world and traditional financial institutions. The successful launch of the UPCX mainnet is an important step toward our move into the global financial ecosystem. In the future, we will continue to commit to technological innovation and ecosystem development, introducing more practical financial tools and services, promoting financial democratization, and enabling more people to safely and conveniently participate in global economic activities.”