Blockchain

Blockchain refers to a digital ledger of encrypted transaction information shared among members of a public or private network. Copies of the transaction ledger are "distributed" to network members and new transactions are authenticated through consensus of the members whenever they occur. It is characterized by being based on a peer-to-peer (P2P) network system, not relying on centralized systems, and eliminating the need for transaction intermediaries to increase transaction efficiency, transparency, and security at lower costs.

Blockchain-based transaction information is impossible to arbitrarily change, increasing transaction reliability and making information tracking easier. Based on distributed ledger technology, the same transaction ledger is open to all network participants and new information is updated in real-time simultaneously. Therefore, to arbitrarily change a single transaction information, one would have to hack numerous computers simultaneously, which is practically impossible.

Advanced Project applies Non-Blockchain technology through en-Cash in its PG system for the expansion of financial payment services, which is designed to be integrated with AUC through the blockchain platform.

In addition to the payment system, the Advanced Project also applies blockchain technology to various information, such as pension payment data, local government traffic enforcement system data, person-to-person remittances and identity authentication, and O2O services, for transparent and efficient management.

Initially, AUC coin was built according to Ethereum Request for Comment 20 and AUC coin, the fundamental currency of the AUC ecosystem, was also issued on the ERC-20 basis.

Subsequently, prior to launching its own application services, Advanced Project will develop its original mainnet system and transfer all previous block data and accounts to the newly built mainnet and operate its application services in full synchronization with its own chain.