A Unique Model for Modular Blockchain Design
UniBit is built using the multichain protocol, and deployed as a unique model for modular blockchain design, utilizing other features that are similar to technologies such as ILP (Inter Ledger Protocol) and COMIT's cross-chain routing protocol. UniBit Labs developed the protocol for UniBit utilizing libp2p from Proton Labs, and integrated a customizable adoption of the IPFS MainNet nodes combined with the UniBit Blockchain Seed Nodes.
The UniBit Project seeks to solve various problems within the crypto space by creating ambiguous and scalable solutions. Users will be able to perform atomic transactions across multiple chains instantly with any protocol the UniBit network supports. Developers or organizations can deploy private or public blockchains on UniBit, allowing for dynamic permissions with assets, transactions, streams and blocks; and a plethora of other features, such as metadata encoding, mining privileges, and admin-consensus restraint parameters. These blockchains can be as open or as closed as needed. Only a few simple steps to create a blockchain, which can connect to an existing chain; and an unlimited amount of blockchains can be created per server for cross-chain applications. Millions of assets can be issued per blockchain that can perform safely both multi-asset and multi-party transactions.