Network Architecture
From the technical point of view of blockchain, UB CHAIN is a completely independent intelligent network, which is different from Layer 2 solutions similar to Solana and Polygon currently on the market. UB CHAIN can meet the needs of different blockchain applications for the main network, and on this basis, ensure the node verification speed and performance of the main network.
In the early days of the birth of blockchain technology, in order to achieve decentralized applications, technicians must start building a new network, and the cost of time and energy cannot be exchanged for the corresponding results. Ethereum’s smart contracts provide new ideas for technology, greatly reducing the difficulty of building decentralized applications. Although the current problems of Ethereum are well known, its widespread use cannot be underestimated. Considering the trend of modular multi-chain applications, UB CHAIN chooses to be compatible with the existing Ethereum mainnet. Through the Etherum virtual machine, most applications and ecosystems on the Ethereum network can be implemented in UB CHAIN without complicated technical adjustments. Running concurrently on the network, it combines the best features of an independent blockchain (sovereignty, scalability, and flexibility) and Ethereum (security, interoperability, and development experience).
UB CHAIN(UBC)
A high-performance engine network based on DPOS+POS consensus, which is used to coordinate nodes, support layer-2 network creation, and synchronize layer-2 network data. Second-level transaction confirmation speed, high throughput ensure basic network performance, and node verification can ensure network security while ensuring incentives for participating nodes.
Users can easily create and share assets peer-to-peer, including UB CHAIN’s mainnet token $UBC. UB CHAIN allows anyone to create and mint other smart digital assets such as stablecoins, utility tokens, NFTs, wrapper tokens, equity tokens, etc. The creation and minting of these tokens also require a fee of $UBC, which is subsequently burned.
🔹 UBC-20 token
🔹Other mainnet tokens (BTC, ETH, XRP…)
🔹Consensus protocol and proof of stake
🔹 Community governance, voting, asset issuance
🔹Cross-chain transfer
UB SMART CHAIN (USC)
A smart contract chain that includes the Ethereum virtual machine and is 100% compatible with Ethereum’s existing tools. Everything that can be done on Ethereum can be done on UB SMART CHAIN with the added advantage of high Tps, second transaction completion speed and low transaction fees. Users can easily port existing DApps to provide various blockchain services using UB SMART CHAIN.
🔹 EVM compatible
🔹 Consensus protocol and proof of stake
🔹 Cross-chain deployment
Mainnet Token
Issued
$UBC is the mainnet token of UB CHAIN. It is used to secure the network through staking, to transact between different tokens, to pay transaction fees, and to provide the basic unit of account between UB CHAIN and multiple subnets created in UB SMART CHAIN.
The total issuance of $UBC is 1 billion, and the number of parent coins is 50 million, accounting for 5% of the total circulation. The remaining 950 million is divided into 5 stages according to ecological development and will be produced through pledge over 50 years.
🔹 The first stage (10 years), 10% of the total, 95 million pieces;
🔹 The second stage (10 years), 15% of the total, 142.5 million pieces;
🔹 The third stage (10 years), 20% of the total, 190 million pieces;
🔹 The fourth stage (10 years), 25% of the total, 237.5 million pieces;
🔹 The fifth stage (10 years), 30% of the total, 285 million pieces;
Note: The specific phase time of $UBC is subject to the project announcement time.
Pledge rules
UB CHAIN uses the consensus mechanism of Proof of Stake (POS+DPOS). In this way, the system economically incentivizes the nodes participating in the network to take benign actions and avoid malicious behavior that could disrupt the operation of the network. Nodes wishing to enter the network can freely enter the network by staking a certain amount of tokens that cannot be moved for a period determined by the token holder, with a minimum pledge period of 540 days. The network has validators and delegators. Validators are responsible for securing the network, creating new blocks, and processing transactions. Unlike other systems that also propose a POS mechanism, $UBC does not introduce any penalty mechanism. Therefore, when the staking period expires, the total amount of $UBC staked will be returned in full linearly, along with the reward for providing staking. Staking rewards are directly related to the amount of staking offered.
When users participate in the node verification of the main network by staking $UBC, they can get rewards for providing protection for the main network. Users can only receive verification rewards if they meet the $UBC pledge mechanism and pledge correctly. After the pledge is over, the user needs to re-stake to continue to become the main network verification node and obtain rewards.
Contact us
Website: http://www.ubchain.site/
Twitter: https://twitter.com/UBChain2021
Telegram: https://t.me/ubchaincommuinty
