uPlexa is a project that harnesses the computing power of the IoT device market and offers decentralized power and anonymous p2p payment system that supports the payment of IoT services and devices.
Market Demand:
The Internet of Things (IoT) market is expected to grow by double digits over the next few years. There were are over 9 Billion IoT devices in the world in 2018 and that number is expected to increase by 20+ Billion in 2020. The goal for the project is to be able to provide a source of income that will help to off-set the electricity cost of the IoT devices. If the company is successfully achieve this and with a market of over 31 billion IoT devices, uPlexa has potential for spectacular growth.
This is possible because of uPlexa’s ability to use Internet of Things devices to mine blocks. This, in turn, powers the network as well as processes transactions. To achieve this goal, uPlexa relies on a modified CryptoNote algorithm that allows for profit with IoT mining. At the same time, it prevents centralized mining by preventing ASIC technology.
By mining using IoT devices, those devices could use a small percentage of the resources you do not currently use. That way, they could make enough money to pay for part of the electricity they use on a regular basis.
In addition to the goal of delivering fungible IoT mining, uPlexa aims to develop multiple platforms. Based on uPlexa, these platforms will complement its objectives, which are fungiblity, untraceable transactions, and privacy. The first platform focuses on the e-commerce industry, which is valued at over $22 trillion. uPlexa will build and integrate an e-commerce platform that is anonymous and based on uPlexa.
Another goal is to establish partnerships with various IT service providers as a way to ensure anonymous service payments on uPlexa. With anonymous service payments, service providers cannot sell specific client data to the government or other companies. This should improve security by reducing the potential impact of hackers or even government spy programs.
Overall, the (international) market demand and potential usage for this coin can easily exceed the number of people on the planet.
The Team
QuantumL3aper (Kyle Pierce) is Co-Founder & Lead Developer. Also he is the the largest singular investor in uPlexa but he doesn't own uPlexa as an entity. Another Co-Founder is meandertal charged for public relations. blk ( Blake Andersen ) is Lead Developer of eCommerce. CryptoMiningKBis Lead Support Specialist. Devs community are all people who contribute code to projects without the expectations of immediate payment from the “core team”, essentially, like-minded individuals.
uPlexa is funded by a 7% premine “in order to continuously fund its large amount of infrastructure, bounties, airdrop, and team efforts.” UPX has very stable Reddit, Twitter and Facebook community about 5000 members. They have two social media managers and a social community manager and posting across all of their networks at least once per day.
Price Analysis for uPlexa (UPX)
It has Rank #986 according to market cap which is $514,540 . Numbers for circulating supply are 2,335,711,320 / 10,500,000,000
All-time high was $0.00103438 ($1.6M MC ) on Jun 22, 2019 and All-time low is $0.00004616 . Currently the price is down 78% from the all-time high but is in clear uptrend based on 30-day chart.
uPlexa coins can be purchased directly from STEX or Graviex with Bitcoin. However, if you do not already have Bitcoin, and would rather use your local fiat currency to make your purchase, your best option would be through STEX.
Upcoming Events
Q3 – 2020 eCommerce Platform Launches in BetadVPN Apps Launch for iOS & AndroidLaunch of PlexaPay
Q4 – 2020 uBlitz Goes Live (Near-instant private transactions)Possible PoW upgrade/shiftPlexaNet API Release
Q1 – 2021 Implementation of Post-Quantum Algorithm
Should I buy uPlexa (UPX)?
uPlexa allows for p2p payments based on the Internet of Things. It also uses a unique blockchain and technology that can make mining using the Internet of Things profitable.
With the PlexaNetOrg VPN users are able to bypass such restrictions and it offers some of the least expensive VPN services in the world.
In the future, uPlexa will continue to expand, creating various platforms for utility, starting with e-commerce. The team is also working towards allowing anonymous service payments to prevent the use or sale of private data.
Investing is a personal choice and investors should consult with experts when making financial decisions. It's important to note cryptocurrencies are highly volatile, unregulated and have the potential to go to zero. If this doesn't discourage you and would like to know if uPlexa made it to our shortlist, check out our weekly Altcoin Reports.
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