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About UMI Top

  • Birthday June 1

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  1. Add UMI to CoinMarketCap watchlist Dear friends, let’s help the UMI cryptocurrency win more popularity and authority among the crypto community around the globe. Just add UMI to the CoinMarketCap watchlist. It's really easy and fast to do: 1. Sign up for CoinMarketCap or log in to your account if you already have one — https://coinmarketcap.com/. 2. Open the UMI page — https://coinmarketcap.com/currencies/umi/. 3. Click on the star symbol (to the right of the coin name). Done! Even though over 5,000 people already keep tracking UMI, our community is much larger. So let's increase this number severalfold. This will help the coin win popularity and show the crypto world how awesome, loyal, and big UMI's audience is. We are counting on you Sincerely yours, UMI team P. S. We have also prepared a step-by-step guide with screenshots on how to add UMI to the watchlist – https://blog.umi.top/?p=2558
  2. UMI's video report from Supreme Blockchain 2021 Dear friends, in our today's report we would like to recollect the awesome Supreme Blockchain conference in Dubai where the UMI team acted as the title sponsor. Reputable representatives of the industry, celebrities and sheikhs discussed prospects of the crypto market, including DeFi, asset tokenization, NFT and other topical questions. And, naturally, UMI's prospects in these and other sectors! We have prepared a brief, but very beautiful and informative video about the conference. Make sure you watch it. Video: https://youtu.be/qMzjlGH37VU. This conference is just the beginning of our journey into the decentralized finance sector. We will not only develop DeFi products, but will also take an active part in such conferences on a regular basis, bringing UMI into the global spotlight. Follow the news. Yours always,UMI team!
  3. UMI's main goal is further expansion on the DeFi market Last week we successfully launched a new node that made UMI the fastest payment system in the world. We're the only ones who are able to prove our main network can reach a throughput of as much as 65,535 tx/sec. But, most importantly, the new node has opened us the door to the Decentralized Finance (DeFi) market. And we won’t be just a tokenized coin — we will be a fully featured blockchain platform that can be used to design DeFi products. It’s exactly what we’re going to work on in the near future. Why DeFi? Because it’s a promising and fast-growing crypto market sector that could potentially change the entire financial system. Overall, the DeFi protocols now account for (https://defillama.com/home) as much as $180 bln, and the number is constantly growing. However, crypto users still face the problems experienced by other platforms, such as Ethereum, Binance Smart Chain, Solana, Polkadot and Cardano. UMI easily solves them via its high-tech nature, zero fees and instant transactions. We will do all we can to make UMI the leader on the DeFi market. Follow the news. Yours always, UMI Team!
  4. Announcement of UMI listing on the Bibox exchange! Dear friends, we have another piece of awesome news for you. A popular trading platform Bibox has announced the upcoming listing of UMI! Bibox is a large international crypto platform which trades more than 250 cryptocurrencies and offers various trading tools. The daily trading volume on Bibox is about $500-900 million! UMI continues to enter new large markets and gain popularity around the world. Bibox announcement about the upcoming UMI listing — https://bit.ly/3hJIGxT Bibox on CoinMarketCap — https://coinmarketcap.com/exchanges/bibox/. Link to Bibox — https://www.bibox.com/ As soon as UMI trading starts on Bibox, we will definitely let you know. We continue to grow together. Yours, UMI Team!
  5. UMI processes 65,535 transactions per second in the eco-friendliest way! If you follow the news of the cryptocurrency industry, you must have heard of the recent discussions of mining harmful effects. They started when Tesla stopped accepting bitcoins citing environmental impact. Then other participants of the crypto industry also started analyzing the Bitcoin network power consumption, carbon footprint, and other eco-related issues. Media SIGEN.pro, our partners’ portal, made a thorough review of this situation. Long ago we also wrote about mining harmful effects in our blog. As you probably know, the Bitcoin network is based on the Proof-of-Work algorithm, which is also the basis of the Ethereum network. Huge energy costs and low capacity make this algorithm economically impractical and inefficient. Today bitcoin uses as much electricity as a medium-sized country, or only twice less than the ENTIRE global banking system. UMI is an efficient, fast and eco-friendly blockchain By launching UMI, we initially attempted to provide the world with an efficient and fast blockchain that would have no negative environmental effects. While forging the future and creating new technologies, we shouldn’t sacrifice the world around us. A protective attitude towards limited, and especially non-renewable resources or in other words wise and sustainable consumption are not mere words for us. Therefore, we use Proof-of-Authority. This consensus algorithm achieves high capacity with no harm to the environment. While initially we processed 4,369 transactions per second, now the main UMI network managed to achieve the capacity of up to 65,535 tx/sec. Since miners or forgers don’t have to compete for a block reward in our blockchain, the network requires less computing power. At the same time, we came up with a non-standard way of protecting the network against DDoS attacks (spam transactions) – during each operation, the user’s device solves the easiest mathematical problem. In the case of a DDoS attack, these tasks get much more complicated, thus making the attack not dangerous for the network. However, our developer team hasn’t stopped only at using the most efficient consensus algorithm. We’ve done a lot of work on optimizing the program code and achieved excellent results. Since the network launch, we’ve halved CPU usage, which has significantly reduced electricity consumption and decreased the number of servers maintaining the public infrastructure. 65,535 transactions per second without harm to the environment But high power consumption is just one of the many problems that cryptocurrencies cause. Another serious problem is the shortage of computing devices. Today, due to the hype in the cryptocurrency market, ordinary users can’t buy video cards at affordable prices. Resellers buy video cards directly from manufacturers and then double the price. We have seen a massive shortage of SSD and HDD drives so far. It was caused by the popularity of Chia and other similar cryptocurrencies whose mining is based on SSD and HDD drives. We believe that the sustainable use of resources is in every way profitable strategy, so we don’t want to have any negative impact on the IT sector. New UMI blocks are created via master nodes which are distributed over the world. Users don’t need ASIC, video cards and other devices to take full advantage of the cryptocurrency. Instant and free transfers, as well as staking with a 40% monthly reward are available to anyone with a smartphone or computer. So there is no need for specialized computer devices. However, even with this, we don’t rest. As we’ve mentioned above, we were able to increase the network capacity to 65,535 transactions per second causing no harm to the environment. In fact, this task is not easy to do, since it usually requires increasing the disk subsystem capacity, while with such a load the volume of the blockchain grows at the rate of up to 1 TB per day. We can’t do this partially because ordinary users won’t be able to install the node on their device. Therefore, with each new update, we try to decrease both the system requirements and the space and load on the storage device. You need the simplest and most accessible disk to run a fully functional validator node. At the same time, it doesn’t use much network capacity or other resources like disk memory or electricity. We developed and improved UMI in a way that avoids a possible shortage of computer components. We should note that while developing and maintaining the UMI network we also faced problems and errors. For example, at the very beginning, we chose the JSON-RPC protocol, which is quite easy to use, but consumes a lot of resources. However, soon we started working on the integration of a new binary protocol which: - Utilizes communication channel capacity with maximum efficiency. - Wisely consumes computing power. Even with a slow and unstable Internet connection, the new protocol allows you to efficiently send transactions and sync the blockchain. We treat the user experience of our network participants as a high priority, so transitions to new protocols will go unnoticed. For example, together with the release of a new node, we released a special proxy server that can convert requests from the old version to the new one and back. Our user can significantly save resources without changing anything. With UMI, we try to provide the market with a tool that consumes little resources and is convenient for a regular user. Once again, we want to focus on our incredible success: we have achieved the capacity of up to 65,535 transactions per second. In other words, UMI is now much faster than not only traditional cryptocurrencies like Bitcoin or Ethereum, but it is also more efficient than Visa or Mastercard. With this, it is also - Environmentally friendly; - Extremely convenient and easy-to-use. UMI is a universal monetary instrument of the future – the future which is already here! Best regards, UMI Team!
  6. A new validator node with desktop wallet functionality released Dear friends, we have released a new validator node which now can perform desktop wallet functions. It allows you to do the following: Manage your coins without the need to visit the official website: send, receive and stake UMI. In other words, you can use all your wallet features even if the UMI website is unavailable for some reason. Support the network: verify transactions authenticity in the UMI network and monitor compliance with the blockchain rules. The new validator node automatically downloads the blockchain and supports the network. This is the next step in the development of the UMI ecosystem which has now become even more accessible, convenient and decentralized. The new validator node is available via the links: - Windows (x64) — https://pkg.umi.top/desktop/win/umid-desktop.exe - macOS (Intel и M1) — https://pkg.umi.top/desktop/mac/UMI-Desktop.dmg - Linux Ubuntu or RedHat — https://pkg.umi.top - Docker — https://hub.docker.com/u/umitop We continue to grow together. Yours, UMI Team!
  7. A new node launched: UMI capacity is 65,536 tx/second! Dear friends, when we started working on UMI – universal money instrument – our initial goal was to create a network that would be able to process a lot of transactions. We realized the significance of this. Otherwise, the blockchain of our cryptocurrency neither would be different from Bitcoin or Ethereum nor would compete with other existing payment systems like Visa or Mastercard. Even being hundreds of times faster than Bitcoin or Ethereum, at the launch, in practical terms, UMI was inferior to the leading payment systems. This didn’t stop us from developing the cryptocurrency, and you from using it. But to achieve global recognition and maximum comfort, we had to do more. Today we have not only reached the giants of the market but also outperformed them by as much as 2.5 times (the peak of VISA’s capability is no more than 24,000 transactions per second). Today we’re going to reveal a secret. Since the launch, the UMI blockchain has been able to process up to 65,536 transactions per second. But due to the lack of necessity and in order to protect the network against overload, we’ve been artificially restricting UMI’s capacity. Even though the number of transactions on the network is continuously growing, we still don’t need such a high capacity (the network successfully copes with the load). However, in about a year of optimization in order to raise the network to a new level of development and demonstrate its power, we developed a new node and thus switched the master nodes into their maximum performance mode, generated and sent several hundred thousand transactions to the network. Several consecutive full blocks can demonstrate the UMI network power and verify its claimed performance. Thus, right now, the UMI network is processing up to 65,536 tx/second — more than VISA and Mastercard (not in the test network, but the main one). And all of this does no harm to the environment. With such a high capacity, UMI ensures immediate transactions. We will tell how we managed to achieve these results without causing any harm to the environment in our next article. Keep the finger on the pulse. To successfully demonstrate UMI’s capacity, we sent 2 transactions of 0.02 UMI to all existing addresses with a non-zero balance (2 symbolizes the second version of the node). In total, there were 371,329 addresses and 742,658 transactions. We generated 5 blocks filled each with 65,536 transactions. It took the UMI network only 10 seconds to process all the transactions. In other words, each block was processed in 1 second. Links to blocks: – https://blockchain.umi.top/ru/block/4727343 – https://blockchain.umi.top/ru/block/4727344 – https://blockchain.umi.top/ru/block/4727345 – https://blockchain.umi.top/ru/block/4727346 – https://blockchain.umi.top/ru/block/4727347 – https://blockchain.umi.top/ru/block/4727348 – https://blockchain.umi.top/ru/block/4727349 – https://blockchain.umi.top/ru/block/4727350 – https://blockchain.umi.top/ru/block/4727351 – https://blockchain.umi.top/ru/block/4727352 Thus, UMI has become the fastest cryptocurrency network in the world, which has proved in practice that its main network, not the test one, can achieve incredibly high capacity. It are faster than Solana, Cardano, Free TON and all the others. The new node also paves the way for high-quality, convenient, and fast implementation of new UMI-based products, such as the DeFi ecosystem products (tokens, stablecoins, decentralized exchanges, etc.), new smart contracts, a coin burning mechanism, games using UMI, and a lot more. As soon as the new node was successfully integrated, we started developing new products. We will tell you more about them in our weekly reports. Another important point: a move to a new node made the UMI blockchain 6 times more lightweight. This will allow the network not only to actively grow and scale but also protect the master nodes and validator nodes from overload. The code of the new node has been successfully uploaded to Gitlab: https://gitlab.com/umitop/umid. Other useful technical links: – API documentation: https://api.umi.top/ – Main network: https://mainnet.umi.top/ – Test network: https://testnet.umi.top/ – Technical / Structural wallet: https://techwallet.umi.top/ Thank you to everyone in our community for helping UMI grow. Thanks to you and for your good, we are moving forward. Sincerely yours, UMI team
  8. In the future, UMI will create a completely new crowdfunding model based on a smart contract on the crypto market. 1. Imagine, if the project raising funds doesn’t fulfil one of its obligations, cryptocurrency is automatically returned to investors. 2. Here’s another example: to collect 1,000,000 UMI, you actually need to raise 700,000 UMI, and the rest will accumulate thanks to staking. Awesome, don’t you agree? We are planning to design a smart contract that will allow us to use all these tools in the field of crowdfunding and many others.
  9. The UMI blockchain platform can be used to create and execute smart contracts of any complexity. For example, thanks to its high tech characteristics, many different tokens, including stablecoins, can be created within the UMI network. In the future, UMI will not just be a coin for fast and free transactions as well as innovative staking based on a smart contract. UMI will become a fully-featured platform for many crypto projects.
  10. UMI offers a number of unique solutions: Instant and absolutely free transactions. Almost no other cryptocurrency can offer this, not to mention traditional payment systems. Innovative staking based on a smart contract. Many cryptocurrencies use staking, but few of them can offer such convenient and attractive conditions for generating new coins. Maximum security and exclusive ownership of your coins. Even the coins stored at your address within the staking structure are exclusively owned by the user. Neither the UMI Team nor representatives of the staking structure have access to user coins. Complete decentralization. No one can simply turn off the UMI network because it has no single point of failure and the nodes are distributed among users around the world. UMI is a new generation cryptocurrency that uses the best solutions. This is why it is in demand!
  11. Dear friends, the top data aggregator CoinMarketCap continues to update information about UMI. It has added data on trading pairs with WUMI (UMI's tokenized version) on the DeFi market — PancakeSwap and JustSwap decentralized exchanges. It has also added links to the following items: - WUMI pages in blockchain browsers of Ethereum (Etherscan), Binance Smart Chain (Bscscan), Tron (Tronscan) and Polygon (Polygonscan) networks. - Our social media accounts. - UMI blockchain browser. - UMI's Whitepaper and open source code. There's more. In the near future, we expect to see data on trading pairs on Uniswap and QuickSwap. We also working on updating the remaining information. UMI on CoinMarketCap — https://coinmarketcap.com/currencies/umi/. We're growing together. Yours, UMI Team!
  12. UMI sponsors a sports event! Dear friends, a large-scale sports event FITFIGHT has recently been held in Moscow. The competitions were held according to Muay Thai and K-1 rules at the Fitland Fitness Club. Fighters from various clubs competed for the champion title. The UMI Team sponsored FITFIGHT! We always support sports events and athletes in their desire to be the best in their field. Congratulations to the winners. You deserve it! https://youtu.be/_FYRNSDDU6w
  13. Bitcoin blockchain is completely transparent. Bitcoin has the so-called pseudo-anonymity when all transactions on the network are visible to everyone, but they are not related to users' personal data in any way. We followed the same path and provided the community with the opportunity to not just make instant and free transfers, but to do it absolutely transparently without providing personal data. Transparency allows everyone to monitor UMI network operations in real time. Users can see the number of addresses, transactions, coins, blocks and other information. You can even follow the «whales» (owners of large amounts of UMI). To do this, we developed and released a convenient and intuitive blockchain browser — https://blockchain.umi.top/. You can use it to track all the above data.
  14. Attention, subscribe to our new account on Instagram! Dear friends, we’re moving to a new account on Instagram to publish the highest-quality, most useful and insightful content in various formats. Not to miss out on the most relevant information and awesome visuals, subscribe now! Link to our new Instagram account — https://www.instagram.com/umi.eng/ P.S. We will no longer support our old Instagram account, so make sure you subscribe to the new one.
  15. UMI’s video report on its 1st year of operation: achievements and plans It’s been three years of hard development effort and one year of rewarding work after the launch of the network. We’ve managed to create a coin meeting modern crypto industry standards and allowing us to reach true freedom. As a result, hundreds of thousands of people from all over the world have been actively using UMI, and it’s just the beginning. Dear friends, over the first 12 months since the launch, we’ve completed a herculean task of developing and promoting UMI and we’re now ready to present the 1st year video report covering a period from June 1, 2020 to June 1, 2021. We’ve prepared an awesome video for you featuring our achievements over this period, as well as our plans for the future. Video URL (it’s a must see): https://youtu.be/UbOLulkhZL0 Attention: the video features UMI achievements over the first 12 months, so all numbers were effective as of June 1, 2021. Our plans remain effective until today.

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