V God spent 65 ETH to buy UBI, is it a "sheep about to be bald" or a "human flesh oracle"?

Author | Qin Xiaofeng

Editor | Hao Fangzhou

Produced | Odaily

Author | Qin XiaofengEditor | Hao FangzhouOn-chain data shows that on October 19, the founder of Ethereum

Vitalik Buterin wallet (click to jump)

image description

(V God wallet transaction UBI)

What exactly is UBI that V God is optimistic about, and is there still a chance to get on the car?

secondary titleApplication Scenarios of POH Consensus Mechanism

The full name of UBI is Universal basic income (Universal Basic Income), which is the token of the Proof of Humanity (Proof of Humanity) project.Proof of Humanity (POH for short) is a human social identity verification system on Ethereum. PoH combines web of trust, reverse Turing test to create a sybil-proof roster of real humans.

(Odaily Note: Sybil attack, that is, attackers create a large number of pseudonymous identities and use these identities to gain a disproportionately large influence to destroy the reputation system of the service.)

An important application scenario of POH is to resolve disputes and make rulings.Especially in some prediction markets, the final result must sometimes be uploaded from off-chain to on-chain for adjudication, and the final result is not clear.For example, "Will Biden win the 2020 U.S. election?" with a deadline of December 20. But on Dec. 20, while Biden was ahead, opponents argued that Trump hadn't lost, as Trump claimed at the time that he would take steps to challenge the result. At this time, it is necessary to introduce POH to judge whether Biden has won or not. At this time, the registrants in the POH list can form an adjudication team to make a decision by voting, and send the final result to the smart contract of the prediction market to execute the relevant compensation.

Therefore,

For example, users need real identity information during the registration stage, including photos, videos, and Ethereum addresses, and they need to accept multiple verifications at the same time. As long as one of them fails, they cannot register.

In addition, users need to pledge a certain amount of funds (ETH) during the registration stage, which will be refunded after successful registration, mainly to prevent the creation of false accounts; however, once the account is identified as a spam account, the user's deposit will be confiscated. In addition, during the registration stage, users also need a verified old user to guarantee.

Even if it is registered, it is only valid for one year. During this period, you have to accept other people's doubts. Once you are found to have faked your identity, you will be kicked out directly.

secondary title

What benefits will it bring to users by joining UBI with such strict conditions?

Strict registration procedures are in place to prevent the creation of false identities. Of course, once you become an official user through registration, you can enjoy certain benefits - get POH's native token UBI.https://app.proofofhumanity.id/。

Official users can automatically get 1 UBI per hour, 720 UBI per month, and 8760 UBI per year. According to the current price of Uniswap, 1 UBI = 0.16 USD, a total of 1,400 USD a year.

“Our goal is that UBI becomes synonymous with the global consensus that a person’s time can be measured in UBI. Due to the decentralization of Ethereum, the fiat price of UBI will be the same for everyone regardless of the country they were born in .”

Interested friends, you can try to register POH, and take a look at UBI's wool:

In addition to registering to obtain UBI tokens, the official website has also opened two UBI mining pools, namely: UBI/ETH and UBI/DAI. Users can pledge LP to obtain UBI. According to calculations, the current annualized income of the two pools is about 70%, and the mining time of the two pools will continue until March next year.

According to the official announcement, the total number of UBI creations is 10 million, 40% of which are used for the liquidity mining plan; 20% are distributed to early contributors of Democracy Earth’s HOUR token (renamed UBI); the other 40% are distributed to UBI community treasury, used as a treasury reserve for the implementation of future UBI DAO proposals.

In addition, according to the plan, if the PoH registry gradually reaches 10,000 people in its first year of existence, the total UBI supply will rise to a maximum of 27 million. Official website data shows that there are currently 9,174 registered users.