OpenUDC is a set of free softwares designed to create a free money system based on a decentralized human P2P network.
The OpenUDC softwares are designed to manage a free money system as described by the TRM (Théorie Relative de la Monnaie), that means a money system where no human has privileges in front of money creation either in time or in space.
These money systems solutions are Universal Dividend based money systems. Every member in the community create (equal to receive) the same Universal Dividend per period of time.
OpenUDC development chosen rule is described in the FAQ.
OpenUDC allow each community who want to use its own free money to describe its own Universal Dividend set of rules.
The OpenUDC human P2P network is based on OpenPGP. There is an OpenPGP Web of Trust which identify the members of one OpenUDC community sharing the same free money.
A new member entering the money system has to be signed by a determined (parameter of the money system) number of existing members.
A member yet existing in the money system has to renew periodically signing in a period of time (other parameter of the money system), as a renewable proof of life.
So there is no center, no centralized organism in an OpenUDC money system.
Exchanges are made directly from person to person in "digital coins". The sender announce to the system the amount and the receiver, he signs it, and then send it to one node. The node makes a propagation of the information, and when the whole system fully validate the transaction, the receiver has the information.
A node is an instance of OpenUDC software, connected to other nodes. All those P2P connected nodes know the OpenUDC Web of Trust, and share the same database in a synchronized way. So the database itself is a P2P shared database containing the whole Monetary Mass.
Each member of an OpenUDC money system can have its own node and own copy of the updated OpenUDC Web of Trust and OpenUDC Monetary Mass.
Each digital coin is identified in an unique way. It contains the information of it's date of creation, creation owner (the member who was the base of that unit creation), and of course the up-to-date owner of that coin. These digital coins are technically available in different sizes as powers of 2 : 2^0, or 2^1, or 2^2, 2^3 etc... This choice is due to optimization of memory space, and also due to growing quantitative monetary mass.
The OpenUDC digital coins are all in the P2P shared database, and so there is no possibility for those coins to be lost.
To obtain an account, it is enough to create it, and then to be signed by a determined number of existing members. Account will be activated only when the system rules will be fully OK. Practically you create an OpenUDC WoT private key, and an OpenUDC WoT public key, associated with a specific OpenUDC information named UDID2 information.
With those keys you can access to transactions of your own account, send to or receive from others. You sign and encrypt a "digital order" to send, and then the node recognise you, and make the job. When it's fully OK, the receiver has the complete information and some digital coins have change of owner. Work of the nodes When a node receive an encrypted "digital order" it recognised the sender, and he is able to decrypt it and work on it. The node makes verifications that the sender is the owner of each digital coins of the digital order.
When a node collect a transaction, it informs immediately two other nodes. Then these others nodes inform two other nodes and so on. It's an exponential speed. Each node know before the nodes it has to inform. When a new node connect or disconnect to the system, new communication rules are automatically calculated.