UpSocial: December 2021 Round-Up

UpSocial: December 2021 Round-Up

Due to the festive season, December 2021 was comparatively slower than November, but we didn’t slow down.

Our team had the same motivation and energy to carry out things and accomplish the mission of UpSocial Network.

Monthly Update from UpSocial Network

We are excited and happy to enter 2022. We prepared our monthly round-up with great news so that you remain updated with the team as well as UpSocial Network updates.

Founder Hanif Shaikh Featured on NewsX Channel as a crypto expert

The first week of December started with a grand note. Founder Hanif Shaikh was invited on the NewsX channel for the 2nd time on 1st December 2021.

Hanif shared his views regarding the consequences of passing the crypto bill in India in terms of the Indian market. While everyone is still unclear about the bill, you will find the interview and his opinions here:

Founders Attended The Event Hosted by Latokens Exchange

While the founders continued their work in Dubai, they attended more crypto-related events. One of the significant events was hosted by Latokens Exchange on 5th December.

As usual, it turned out to be a highly fruitful event because of the connections and expansion of the network. Here are the glimpses with crypto influencers Sergey Kosenko, Aziz Falakzada, and many others.

On 12th December, both the founders met Tilen Skrubej from Solidum Capital.

To sum up, all these meetings with crypto influencers as well as industry experts give a fresh outlook towards our ideas and mission. Similar-minded people with more experience are pure guides and mentors.

CTO Met No Other Than The Real Wolf of Wallstreet

Ashish Verma, CTO of UpSocial Network, met Jordan Belfort. Jordan Ross Belfort is a famous American entrepreneur, speaker, author, and former stockbroker.

Ashish Verma with Jordan Ross Belfort in December 2021

Ideas from him further broadened the vision of Ashish. It was indeed a moment to cherish for life.

After all, you don’t meet your inspirations and celebrities every day.

2021 was an excellent year for us, and it was only possible because of your support. We assure you that we will keep working as per the roadmap in 2022.

Happy New Year to everyone.

More updates are coming up in 2022!

Consider joining our Telegram group if you want to stay updated with some exciting updates and upcoming features. You can even connect founders and team directly 😉 Join Telegram group

UpSocial: November 2021 Round-Up

UpSocial: November 2021 Round-Up

November 2021 was one of the busiest and fastest-growing months for UpSocial Network.

Several media coverages, Dubai tour of founders, and much more!

Monthly Update from UpSocial Network

We are happy to pass another month and enter December! We prepared our monthly round-up with great news so that you remain updated with the team as well as UpSocial Network updates.

Founder Hanif Shaikh Got Featured on NDTV News

The first week of November started with a big note for us.

On 5th November, NDTV News featured Hanif Shaikh as an expert in the crypto industry.

Crypto Charcha is a Hindi show on NDTV News where journalists discuss various aspects of crypto with industry experts. Millions of Indian houses follow NDTV on television.

You can watch Hanif Shaikh talking about cryptocurrencies and meme coins here:

TestNet Went Live

It’s magical when ideas turn into reality.

While there is a lot in the roadmap, we climbed one step forward.

On 16th November 2021, we made our TestNet live for beta users. Now users can test the platform and earn tokens for testing the platform.

If you are interested in joining our beta program, you can join here.

Founder Hanif Shaikh Got Featured on Sputnik International News

Sputnik International is a global news website with 42 million monthly visitors.

Hanif Shaikh, founder and CEO of UpSocial Network, discussed the upcoming scenario of crypto in India with the panel of Sputnik news on 18th November 2021.

If you missed it, read the Sputnik article.

Website Maintenance and Redesign

It is said that a website is never completed. It’s a never-ending process to make it better every day.
The same is applied to UpSocial Network as well.

UpSocial Network’s official website got some new sections like timeline, team, and much more. The design and structure have improved as well.

Check out the website.

CEO & CTO in Dubai

Meeting new people and finding new opportunities to run a healthy business are crucial parts of entrepreneurship.

For the same spark of making UpSocial a better foundation, CEO Hanif Shaikh and CTO Ashish Verma flew to Dubai for business tasks and crypto conferences.

As expected, it turned out to be a highly productive business tour.

UpSocial founders met the founders of BitPlay, Victor Biola Ogunshina and Charles Adenuoye, during the Cryptogon event. They even met Franco Fiore, co-founder of Ecox Dubai! Ayesha Sodha was a great personality to discuss growth in the crypto market.

UpSocial founders intend to spend some more time in Dubai to understand the business, market, and several essential strategies from like-minded people industry people.

Founder Hanif Shaikh Got Featured on NewsX Channel

On 24th November, Hanif Shaikh gave some insights on India’s upcoming crypto bill.

NewsX is another Indian news channel that gains eyeballs from millions of Indians. The publication considered taking interviews of crypto experts, and UpSocial founder was one of them.

If you missed it, you can watch the episode here:

That was all about November updates from the UpSocial team.

Curious to know about the next steps? Here is our roadmap to explore our further plans.

More updates are coming up!

If you want to stay updated with some exciting updates and upcoming features, why not consider joining our Telegram group? You will directly connect with the team. 😉

Why UpTokens In Presence of Other Cryptocurrencies?

Why UpTokens In Presence of Other Cryptocurrencies?

There are several cryptocurrencies in the market. Dozens of new tokens get flooded on crypto exchanges daily. We have UpTokens (USN).

According to Investopedia, there are more than 4000 cryptocurrencies listed on tier-1 exchanges. We are not even talking about the unlisted tokens that lead nowhere.

Making a token is easy. Even if someone has basic technological knowledge, that person can make one.

Now the real questions – why do we need so many tokens, and how to decide your investments?

What was the need for so many cryptocurrencies when we had Bitcoin?

The underlying blockchain technology allowed developers to create their applications. That made them create different cryptocurrencies with their functionalities.

We indeed have thousands of cryptocurrencies, but all of them are different.

Some of them are trying to solve real problems, while most tokens are created for fun.

Every primary cryptocurrency has a purpose and a community supporting it. No token can ever succeed without the acceptance of its community.

Bitcoin (BTC) was developed to decentralize the payment systems. We can’t ignore the fact that it got the first-mover advantage.

Similarly, Ethereum (ETH) was created to build and publish distributed applications (dapps) to solve the problems like downtimes, frauds, and attacks.

Some platforms create their cryptocurrencies to use on their platforms. Users need to buy those coins and use them on their platforms. Like the virtual coins used in video games, users can exchange these cryptocurrencies for value.

Binance Coin (BNB) is an excellent example of a utility token for discounted trading fees on the Binance cryptocurrency exchange.

Let me talk about us. UpTokens (USN) is helpful for circulation in the UpSocial Network. Circulation of UpTokens ensures that the value of tokens will keep increasing with time and usage by the community members.

But how do we take our call about crypto investments?

It’s tough. Let’s be realistic that the power of creating tokens has been decentralized, and every individual can do that.

That implies that there are strong possibilities that some tokens might be fake or even scammy.

How would you identify genuine tokens with some real potential?

Check out the purpose and vision behind creating a token.

If a token has a well-built website that explains its purpose, it is a great start. Further, you can check if there is any whitepaper. Whitepapers are strong indicators of the seriousness of the founders.

At UpSocial, we are heavily working on turning an idea into reality. It mentions how we are trying to make a decentralized social network.

All the details are mentioned in our whitepaper.

In a nutshell, it’s essential to know the use case of a crypto token. Shitcoins created for fun don’t have any!

Bonus Tip: Join the Telegram groups or communities of the tokens to check the activities of the company, project, founders, and the team.

Have you joined our Telegram Group yet? Get your doubts resolved on Telegram.

What is Smart Contract Payments & Why Do We Use It?

What is Smart Contract Payments & Why Do We Use It?

There are several ways for decentralized platforms to build trust and carry out transactions seamlessly without anyone’s interference. We use smart contract payments.

Suppose we ask you to complete some tasks in exchange for some UpTokens. Why would you trust us?

Probably because you have already seen such airdrops and participated in them as well, or probably you trust the team and vision of UpSocial.

But what if someone promises you something and then never fulfills the conditions? After all, there is no regulating body to keep a watch.

Smart Contract Payments is the solution for such cases. Since it is based on blockchain technology, it cannot be tweaked or manipulated. The whole blockchain network regulates the transactions.

Why Do We Need Smart Contracts For Payments?

Traditionally, we had government organizations or legal entities to regulate the contracts and deals between two parties.

However, there are high chances of malpractices and manipulation when the processes get centralized.

Since the whole concept of blockchain technology revolves around decentralization and the absence of a single centralized authority, trust issues can be a significant concern.

If not these traditional authorities, then who? That’s where we started using blockchain-based smart contracts.

Smart contracts allow the eradication of a third person to verify agreements. Technology emerges in place of that third person. Blockchain is a robust technology that hackers cannot manipulate.

The best implementation of smart contracts that you experience is when you participate in the airdrops of tokens.

The founder or company backing a token asks you to complete a few tasks in exchange for some tokens.

What are the chances that you will never receive tokens from such claims? There are such possibilities, but intelligent contracts ensure that these fraudulent practices are avoided.

It’s coded so that once you complete your tasks like filling forms, tweeting on Twitter, and sharing on your social handles, some tokens will be automatically allotted to you.

It is not a manual process, but smart contract payments are used for such airdrop campaigns. It not only makes it easy to carry out the process smoother but also helps to build trust.

How are Smart Contracts Executed?

Let’s not get into the technical aspects and straight understand the working in 5 simple steps:

#1: A smart contract is programmed based on terms and conditions that need to be obeyed by both parties

#2: The money or tokens of paying party are held until a specific condition is triggered

#3: The smart contract is submitted to the nodes on the network for evaluation

#4: All nodes on the network must agree and come to the same result

#5: Once the complete process is done, the smart contract is self-executed to credit the amount

In 2018, IBM Researchers published a detailed Research Paper about the safety of smart contracts in technical aspects. If you want to understand the whole process, the paper explains it well.

Advantages of Smart Contracts

  • No third party authority is present, but the whole community reviews audits and validate the transactions
  • Execution is done within minutes
  • Security is high with the help of cryptography
  • There is 100% transparency between all the participants
  • It is cheap to execute, and everything is automated without any human intervention

We are using Binance Smart Chain for UpSocial Network. It will ensure a seamless integration for file storage using IPFS and payments.

Considering the security and compatible implementation, even UpSocial is using smart contracts to process payments.

Upsocial will create a transparent database of right and right owners while automating royalty payments in the form of rewards paid through smart contracts.

Users will receive UpTokens for various activities like referring friends to sign up on the platform or creating great content.

UpSocial will execute a smart contract to ensure that you get paid instantly for every contribution you make.

The reward protocol will hold the highest vesting reserve of 35% or 35 billion USN.

We are reserving these tokens to reward creators and users who add value to the Upsocial platform.

To know more about the distribution of USN coins, the progress of the team, and upcoming features, make sure that you join us.

Be a part of the UpSocial community in its early stages and work closely to develop the platform.

Why UpSocial Uses IPFS For File Storage?

Why UpSocial Uses IPFS For File Storage?

UpSocial is a truly decentralized social network. So, it means that can’t use traditional centralized servers that tech giants use. We use IPFS instead. Why?

How will you scroll through the memes if Facebook decides to shut down its servers? How would you watch cat videos for hours if the Government blocked YouTube servers?

These tech giants have multiple servers and backup of those servers. But in the end, it’s still under the control of these organizations.

It’s feasible for tech giants to buy servers, but how will small businesses manage that? If your business is hosted on an AWS server and it crashes for some reason. Guess what? You can’t do anything.

Here’s where IPFS comes into the picture. The technology is not futuristic, but it is being used presently.

What is (Interplanetary File System) IPFS?

Interplanetary File System is a decentralized version of storing files. The same file is stored in multiple users’ computers present in a P2P (peer-to-peer) network.

Even if the file is deleted from one computer or some computer shuts down, the file will remain available in the network. Some other computer must be having a copy.

That’s the simplest explanation.

Even UpSocial Network uses the same technology!

Any image, video, or file is recognized by its URL or IP address on the traditional web. That’s because it has a fixed location.

Suppose you posted an image on Facebook. It has a unique URL so that you can share it anywhere.

However, if you delete that image later, nobody would access that image even if some other Facebook user has a downloaded copy of your image.

IPFS doesn’t work like this. It recognizes the file according to the content and not by its URL or location. In short, it made the file recognition system from location-based addressing to content-based addressing.

Every file is associated with a hash. Since the files are associated with the hash, it becomes impossible to tamper with the original file. Hash adds a layer of security.

How Do Interplanetary File System Store Files?

A file is stored in an IPFS object. The IPFS object consists of 2 parts – links and data. Data is for storing your file, and a link is to connect other IPFS objects.

Every IPFS object can store data up to 256 KB. But what if your data is more than that?

It will simply split the data into multiple objects and link with each other.

How Do IPFS Store Files?
Image Source:

Since the file remains original with unique hash associates with it, IPFS allows versioning to make changes if you want to update a file on the network, versioning it the process.

IPFS provides low latency that is decentralized and secure. It lets us come up with several compelling use cases. IPFS can use it to deliver content to websites, globally store files with automatic versioning & backups, facilitate secure file sharing and encrypted communication.

So many advantages are the whole reason why we are using IPFS technology at UpSocial Network.

To know more about the development and team’s ongoing work, we recommend joining our Telegram group. You are free to ask questions and resolve your doubts there.