After 6 months of public testing, the Ubiq network is ready for launch! We are excited to open up participation for all members in the blockchain development, mining and financial space.
January 28th 2017 will mark the inception of the new blockchain and transfer of value from the existing Jumbucks blockchain to the Ethereum based Ubiq blockchain. The new chain will bring about many new capabilities through smart contracts, giving us a far greater opportunity for lasting applications while still having the existing value and stability from an established 3 year old market.
The Ubiq development team is committed to providing the most stable, flexible and bug-free platform available for the development of enterprise level applications. This is accomplished through extensive observation, testing and improvements to the various blockchain technologies currently available.
Ubiq is proud to be the first Ethereum fork which brings about consensus level changes in the form of brand new code.
We have ported Digibyte's Digishield v3 difficulty adjustment algorithm to an Ethereum code base, the same difficulty algorithm recently chosen by the Zcash development team.
The new codebase allows for difficulty retargeting every 88 second block using the Digishield algorithm. This reacts to changes in hashrate each block to increase difficulty and increase attack costs for miners.
The addition of Exponentially Subjective Scoring is now an optional flag for services like exchanges and pools to calculate during any adverse network conditions including forks. This protection exponentially reduces the window a double spend can take place while also providing seamless consensus of nodes on the “longest” chain.
With our designed Monetary Policy, block rewards will start out at 8 and decrease by 1 yearly until it reaches a minimum of 1 UBQ per block.
In Ubiq we wanted to program in the option of staying with Proof of Work indefinitely should it prove to be viable long term. There are many aspects we will consider in terms of viability such as overall health of the Proof of Work network, and coin distribution, but ultimately we foresee a future where Ubiq may run as a Proof of Work network forever. With Ubiq we plan on running a Proof of Work network for a minimum of 1 year before considering and evaluating any switch to a Proof of Stake scheme.
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Algorithm: Dagger Hashimoto Block Reward: 8 decreasing by 1 yearly until 1 UBQ per block Block Target: 88 seconds HTTP RPC server port: 8588 Websocket RPC server port: 8589 Network listening port: 30388 Network ID: 88 Chain ID: 8 (EIP 155 Replay Attack Protection compliant) Reduced rewards for included Uncle blocks Forked from the latest Geth 1.5 containing all the latest
================================================================ ------------------------ $Ubiq development team : ------------------------
Julian Yap - @jyap
Well experienced in building blockchain technology and Systems Engineering working with notable projects like Bittrex (over 100 coin code reviews), Blocktech and Decred. Julian has provided several key principles of design, networking and economics to the project.
Luke Williams - @iquidus
Joining the space in early 2012, Luke became well known within the blockchain community for building and providing resources and services. The creator of Iquidus Explorer, a blockchain search tool deployed for many ledgers in the industry. He is also the Technical Director for his company KryptoTech located in Spain.
Kris Hansen - @CoreRenewal
Along with bringing many relationships in the existing fintech space, Kris is a capable developer for a wide range of systems and languages. He is helping with several technologies and use cases for the project along with contributing to the blockchain codebase.
Alex Sterk - @block_talk
Appearing with blocktalk in early 2015, Alex has met and interviewed a host of notable people and projects in the cryptocurrency industry. Examining them across many attributes but providing meaningful education for many across the space, Alex brings his networking and management skills as our community manager.