uPlexa aims to incentivize the mass computing power from Internet of Things devices to allow for anonymous blockchain payments. The platform relies on the IoT to deliver anonymity as well as e-commerce functionality via p2p IoT-based payments.
The interesting thing to note about uPlexa is that it will not have an ICO and is not a company. Instead, it is a grassroots community that has an idea that will disrupt current technologies and processes. It is funded by a 7% premine “in order to continuously fund its large amount of infrastructure, bounties, airdrop, and team efforts.”
The idea for uPlexa came when a developer and a miner were talking following a Bitcoin meetup. They talked about the fact that no one had developed a method of mining with IoT devices like smart TVs. From there, they spent several months on research and development, networking, brainstorming, and more. Eventually, uPlexa was able to run a beta-mining period, which was followed by publishing its open source code. The beta-mining period gave the chance…