UMI cryptocurrency overview

UMI blockchain is based on Proof-of-Authority technology, the concept of which was proposed by Ethereum co-founder Gavin Wood.
UMI blockchain allows to create a large number of specialized functional smart contracts, including those suitable for integration into Internet trading services or for the launch of decentralized autonomous organizations (DAO). UMI — a universal currency instrument through which users can make second, safe, and free money transfers, and multiply the amount of cryptocurrency by means of profitable stacking. In addition, UMI — is a real blockchain platform that can execute smart contracts of any complexity. Let’s take a closer look at UMI capabilities.UMI’s blockchain ecosystem: second transfers, smart contracts and profitable stackingThe number of cryptocurrencies and digital tokens issued exceeds seven thousand. The formation of blocks, and most importantly — they are sent to the blockchain by trusted nodes — master nodes. Rewards for stacking are accrued in mode 24. Transfers The UMI network has a bandwidth of about four thousand five hundred transactions per second. The difference of PoA from the favorite algorithms of Proof-of-Work (Bitcoin uses it) or Proof-of-Stake (Ethereum plans to switch to PoS) is that in the PoA-network there is no competitive race among miners or foragers for the right to be the first to make a block and get a reward. In the UMI network, the master nodes — Authorized large nodes that meet stringent speed requirements. Coins in UMI system are not frozen after joining the pool, unlike other systems, working with stacking. Development. This far surpasses similar characteristics of most other blockchains, including such favorite ones as Bitcoin or Ethereum. The user at any time can withdraw them and sell them. Smart contracts. This allows for a significant increase in network throughput. To do this, you need to make an individual wallet in the UMI blockchain, transfer a certain amount of UMI coins to your address. These include various decentralized money services (DeFi). stacking. Currently, UMI coins can be mined in two stacking structures (pools) — ROY Club and ISP Club. They remain in the user’s wallet, and no one has access to them except the owner. After refilling the wallet address, you can put your coins for stacking in two pools. In the ocean of cryptocurrency projects, it is difficult for investors to recognize promising services at the early stage of development, but it is precisely the investment at this stage to get the highest return. UMI — One of the young projects мейд at the intersection of decentralized money and digital assets, which attracts attention not only by its unique features, but also by its stated development plans.

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