Ultiledger is the next generation of global self-financial blockchain protocol, which is aimed to build a blockchain public chain ecological platform for the core application scenarios in China’s economic development which are the high financing costs of small and medium-sized industrial enterprises, the low level of digitalization of business processes, and the lack of value-added means of various assets.
Long before the birth of banks, insurance companies and other various types of financial institutions, people have started exchanging, trading and financing activities throughout the human history. Financial institutions come at a later phase in the hope of enhancing trust and collaboration between natural entities, however, these institutions have proven to be extremely expensive to maintain, while the extend of trust offered by them have been diminishing for quite a long time and faith in these institutions is dwindling like candles in the wind. The creation of blockchain technologies, especially popularized by Bitcoin, offers a compelling alternative to centralized financial entities as blockchain ledgers are book-kept in a distributed manner and offer tamper-proof solutions. This is a great advancement in both technology and humanity since it brings trust through technology. Ultiledger is a blockchain protocol and ecosystem that aims for providing stateof-the-art functionalities as well as quality services for peer financing markets. Ultiledger brings improvement to existing blockchain technologies in three major layers: the consensus layer, the storage layer and the smart contract layer. Specifically, introduces a new consensus algorithm which promises high TPS, a hierarchical subchain architecture to further increase scalability, a decentralized storage system for cost-effective data access, as well as a modern smart contract platform for flexible application development. Combined together, these improvements help Ultiledger blockchain achieving high security, high scalability and TPS, and high application flexibility.