Question 1

What's the Current Price of Ubiq (UBQ)?

Accepted Answer

As of this writing, the current price of Ubiq (UBQ) is BNB 0.00000637. In the last 24 hours, the price of Ubiq has increased by +0.00%.

Question 2

So, What is Ubiq Exactly?

Accepted Answer

Ubiq is a dedicated public blockchain built upon an advanced Ethereum codebase. It serves as a decentralized platform that enables developers to create and implement smart contracts and decentralized applications (dApps). The Ubiq blockchain acts like a huge, globally distributed supercomputer and ledger. The beauty of this is that it empowers developers to create decentralized and automated solutions for tasks that normally require third-party intermediaries.

Question 3

Who Created Ubiq?

Accepted Answer

While there is no single person or entity credited with the creation of Ubiq, it is maintained by a team of dedicated developers and contributors. The Ubiq team has enhanced the stability of the Ethereum codebase while building a community-supported platform that is increasingly transparent, democratic, and dedicated to long-term stability and longevity.

Question 4

How Does Ubiq Work?

Accepted Answer

Ubiq works on the principle of blockchain technology, similar to Ethereum. It serves as a worldwide supercomputer that can execute smart contracts and decentralised applications with Ubiq tokens (UBQ) being used for transaction fees on the network. Ubiq draws from the innovations made from the Ethereum project, and unlike Ethereum, Ubiq only supports full smart contracts, removing the 'account' abstraction. This allows for greater simplicity, clarity and backwards compatibility.

Question 5

What Makes Ubiq Unique?

Accepted Answer

Ubiq claims to bring a new level of stability to the decentralized software market by implementing tested technologies with known limitations and defined long term plans. It is supported by a democratic governance system that allows the community to vote on decisions regarding the network's future. The commitment to long-term stability, transparency, and community involvement sets Ubiq apart in the world of blockchain innovation.

Question 6

What's the Technology Beyond Ubiq's Blockchain?

Accepted Answer

The Ubiq network utilizes Proof-of-Work (PoW) consensus mechanism – the same consensus method utilized by Bitcoin. Unlike Bitcoin, however, Ubiq uses a different hashing algorithm, known as Ubqhash. Ubqhash was especially designed for Ubiq and is ASIC resistant, meaning it discourages the use of powerful and specialized mining hardware, promoting more decentralized and egalitarian mining.

Question 7

How Much Ubiq (UBQ) is Currently in Circulation?

Accepted Answer

As of now, there are 48.0M Ubiq (UBQ) tokens in circulation. The maximum or total supply of Ubiq is not defined, as Ubiq's supply policy is defined by monetary policy that decreases block rewards every year, but does not have a hard cap.

Question 8

How is Ubiq's Network Secured?

Accepted Answer

The Ubiq network is secured through Proof-of-Work (PoW), a consensus mechanism inherited from the Ethereum blockchain. Network participants called miners compete to solve complex mathematical problems, with the winner getting to add a new block to the blockchain and receiving a certain number of Ubiq coins as a reward.

Question 9

Where to Buy and Store Ubiq (UBQ)?

Accepted Answer

You can buy Ubiq on any of the following exchanges: Bittrex, Dove Wallet. After purchase, it's recommended that you store your UBQ tokens in a secure wallet, rather than on an exchange to minimize the risk of losing your tokens.

Question 10

How to Keep Your Ubiq Safe?

Accepted Answer

To ensure the safety of your Ubiq tokens, it's advisable to utilize a secure wallet to store your UBQ. Remember to keep your private keys safe and secure, as anyone with access to these keys will have control over your funds. It's also important to regularly update your wallet software to the latest version, as updates often include security enhancements. Remember, your personal security practices play a crucial role in protecting your Ubiq investments.

Convert UBQ to BNB

Try our Crypto Pro app