What is Uchit?
Uchit is a peer-to-peer (P2P) distributed collaboration and communication platform designed at its core to enhance the way people communicate with each other/ to their audience and collaborate with team members.
Uchit completely removes the middleman and allows users to directly exchange information via the blockchain network. Uchit utilizes the Ethereum ecosystem as its primary platform for transaction-processing.
By encrypting communications on the blockchain and allowing nodes to communicate directly, Uchit can function as a fully-decentralized exchange for transfer of data and value transactions – allowing users to communicate and collaborate at will. Distributed networks are able to collaborate in a trustless manner without a single point of failure.
This paper seeks to provide an overview of the Uchit protocol and explain its underlying technology and functionality in detail. We will break down the application’s key components, compare it to existing non-blockchain P2P communication applications & collaboration applications, and explain how Uchit’s unique approach to decentralized, contract-driven incentivization seeks to transform the blockchain communication & collaboration space.