UMI is a universal open source money instrument that works as an instant payment system and a platform for launching smart contracts of any complexity, including DeFi protocols. UMI uses a unique and user-friendly smart contract stacking technology that helps to effectively engage new participants in the ecosystem.
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UMI is based on its own blockage, devoid of the shortcomings of other cryptovoltaic systems. The system operates on a Proof-of-Authority (PoA) consensus, which enables the network to make the fastest transactions. Transactions pass through master codes, which have high demands on speed Ethereum Code and throughput. This network architecture protects the network from the types of attacks to which Bitcoin, Ethereum and other cryptovoltaic blockbusters are exposed, including the so-called 51% attack.
„Based on the UMI ecosystem, it is possible to create many different projects – financial, trade and logistics. At the same time, the UMI blockchain, unlike other popular platforms, can easily withstand such a load,“ says Dmitry Kryshtal, UMI project ambassador. – UMI can be easily integrated into online shops, sales chain tracking and production accounting programmes, gaming websites and gaming attribute labels, crowdfunding and charity platforms, and many other services“.
The UMI network is easily scalable and, thanks to its high-tech architecture, already has up to 4,500 operations per second. In the future, an update is planned for the blockchain, which will result in conductivity exceeding 10,000 tx/s. Transfers are made instantaneously, with no fees or hidden charges.
Stacking without blocking
Thanks to stacking on a smart contract, it is easy to create new UMI coins – it is enough to have basic knowledge of a PC or smartphone. Users do not need any computing power, there is no need to run nodes or other complex programs. The technology involves automated payment of coin storage fees in your wallet on a 24/7 basis. The coins are not frozen – they can continue to be used even if they are involved in the stacking. The amount of payments for participation in stacking structures (pools) varies from 5% to 40% per month from the user’s wallet balance. The higher the total number of coins in a pool, the higher the reward.
„The UMI allows coin holders to retain full control over them. Even during the stacking process, the coins are sent to the personal address of the holder inside the structure. Neither the creator of the structure nor the other participants have access to them,“ emphasises Dmitry Kryshtal, the UMI project ambassador.
Maintaining liquidity
Unlike many other cryptographic projects, the UMI team sends the proceeds from the sale of coins to the exchange cup to buy UMI on the main trading platform SIGEN.pro. This provides the coin with high liquidity and exchange rate support. The glass of liquidity for the purchase of UMI has now exceeded $800,000. This means that UMI holders can be sure that they will sell coins at the current exchange rate without delay if necessary. It is planned to raise the glass of liquidity to $1 million already in October.
In the four months since the launch of the main network, 54,000 unique UMI addresses have been registered at the block-office, and the number of active participants in the stacking has exceeded 40,000. Users of the UMI ecosystem conduct $300,000 transactions daily, and the total volume of trades in the crypt currency exceeds $100,000 a day.