Announcement: Implementation of Proof of Work (“POW”), Proof of Stake (“POS”) and Smart Contract on the UnitedBitcoin mainnet

After extensive testing, UnitedBitcoin (“UB”) is pleased to announce that it is upgrading its protocol through a Proof of Work (“POW”) and Proof of Stake (“POS”) hybrid consensus mechanism, in addition to smart contract support. This protocol upgrade will be implemented via a planned hardfork on the UB mainnet at block height 551111. Hardforks are

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Tutorial: UB Smart Contracts and Hybrid Consensus

Smart contracts and hybrid consensus are two exciting features that we have launched on the UB test net. Before launching it on the main net, we are conducting tests with the development team and we invite you to test it for yourselves. In this tutorial, we will break down the process of deploying a smart

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Consensus Mechanisms on the Blockchain

The decentralization aspect of the blockchain alleviates the need of any singular controlling authority and places the power in hands of all the members present in the blockchain network. The blockchain is a database that keeps the track of all the transactions taking place between the members of the network. In traditional transaction systems, one

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How smart contracts on UnitedBitcoin are different from Ethereum

In 2015 Ethereum was the first block chain to support (near Turing complete) smart contracts. In layman’s terms, a smart contracts is basically a small computer program that evaluates a set of logical rules (being the terms of the contract) and, based on that, can initiate transactions on a blockchain when predefined events happen. For

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UnitedBitcoin at Coindesk’s Consensus 2018

Coindesk’s Consensus conference in Manhattan, New York this year was packed full of thought-leaders, influencers, coders, entrepreneurs, and other impactful individuals in the blockchain industry. It didn’t disappoint as a voice of authority on the state of blockchain as it stands now and in the future. With over 8500 attendees from 70+ countries, it was

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The Rising Demand for Stable Coins

As the cryptocurrency market thrives in the digital age, there are four characteristics that are pivotal for a digital currency to thrive. Decentralization: The concept of cryptocurrency on the blockchain is to remove any third-party control and return the power back to the primary members in the network. Privacy: As the term cryptocurrency suggests, the

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The Benefits of Blockchain

A blockchain is a digital ledger that records transactions that is shaking up the process of making financial transactions. As the name suggests, a blockchain is a database system which consists of long chains of storage blocks. This new decentralized system is shaking up the culture of making financial transactions. Here is short and simple

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Smart Contracts and UnitedBitcoin’s Turing Complete TestNet Launch

What are smart contracts? Nick Szabo, a cryptographer and a legal scholar, invented the concept of smart contracts in 1994. Szabo aimed to harness the power of a decentralized and distributed system into self-implementing contracts where the terms and conditions are embedded in a computer code that will be executed on the blockchain network. Similar

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How to claim your UBTC by signing a message – Hshare wallet users only

1. Sign in with your account and password on www.ub.com. 2. Select “Claim UBTC as other cryptocurrency holder”. 3. Select HSR, enter wallet address, click “Claim UBTC”.     4. Select “Sign a message”. 5. Now you will see this page which requires you to enter your signature. Copy the address and message displayed on this

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How to claim your UBTC by validating an address – Hshare wallet users only

Disclaimer: Due to the complexity of wallet management, this tutorial is only for Official Hshare Wallet. We do not take any responsibility for third party wallets. 1. Sign in with your account and password on www.ub.com. 2. Select “Claim UBTC as other cryptocurrency holder”. 3. Select HSR, enter wallet address, click “Claim UBTC”. 4. Select “Make

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