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What Is Ubiq ?
Ubiq is an open source blockchain based distributed/decentralized computing platform which permits the creation and implementation of decentralized apps and smart contracts. Built to an improved Ethereum codebase by providing a stable blockchain to host an Ethereum Virtual Machine, and also creating contracts and the ubiq token by integrating a decentralized Turing-Complete virtual machine. Ubiq is the business ready, stable build of the Ethereum blockchain technology, Ethereum is cutting edge technological advancement of the blockchain technology, that is continuously evolving and developing, so it is always in an alpha stage, but for an enterprise-ready business, investing in a technology that is still in alpha stage is way too risky, because it contains bugs and weaknesses that takes a lot of funds to fix and upgrade. This is why ubiq is unique, it takes only tried and tested features from the Ethereum blockchain technology and implement them on the ubiq blockchain.
Lots of cryptocurrencies began with an Initial Coin Offering(ICO), where the general public exchanged Bitcoin or fiat currency for already premised coins, and the money generated from that crowdfunding is used to build and expand the cryptocurrency, the downside to this is the developers might take the money and jet off without working on the development of that crypto again making investors lose their money. But that isn’t the case of Ubiq, there was no ICO or pre-mining, any ubiq coins the development team possess is obtained through buying in exchanges or mining, they have dedicated their time free of charge to ensure the development of the cryptocurrency. The token of the ubiq blockchain is the UBQ, used to pay for the transactions conducted on the ubiq blockchain, they can be gotten in major cryptocurrency exchanges.
The ubiq team is made up of Julian Yap who is the head-developer, Luke Williams, Kris Hansen, Alex Sterk, and Aldo Borrero.
The Ubiq blockchain acts as a universally distributed supercomputer and distributed ledger, which allows developers to create decentralized applications and automated solutions to lots of tasks that are today handled by third-party companies. Also in addition to the value that ubiq brings to these market-ready top scale firms, the ubiq team also brings an experience that is unrivaled in the world of blockchain technology or cryptocurrency. The ubiq blockchain also acts as a medium for others to create tokens and decentralized applications, acting just like the Ethereum blockchain.
Ubiq mining uses the proof of work mining system to generate blocks, with a targeted block time of 88 seconds, the algorithm used for its proof of work is the same that is implanted in Ethereum and Ethereum classic mining, the dagger Hashimoto.
Ubiq having featured working features of the Ethereum blockchain and been able to integrate into an enterprise ready solution for big corporation to work on will see its value rise, the success of the crypto also increases the success of the developers because they invested into the coin just like normal investors and they will use their massive wealth of experience to make sure this techno logy is a success, next year will see the use of ubiq rise since banks, corporations and venture capitals showed an interest in the platforms at the last conventions that were held in Vancouver and also in Lagos, Nigeria. As an investor, you have to look at the pros and cons listed and determine if it will be a good venture to invest in.