UBIQUITIUM – a secure decentralized blockchain that is everywhere for everyone.
The Ubiquitium Blockchain uses a system referred to as Proof-of-Work to create a distributed consensus. Litecoin was the first blockchain to use Scrypt as an alternative to SHA-256. We are continuing the work of Litecoin to promote fair mining, which in turn secures the network. When a block is solved, the miner receives a block reward to their wallet address. We believe this is the best process of adding blocks to the blockchain and a fair means of distribution.
A coin for everyone.
Why folk Litecoin 0.18.1 instead of another Litecoin version or a different coin? The current version of Litecoin 0.18.1 includes many advancements incorporated into the Ubiquitium Blockchain, such as BIP consensus: BIP16, BIP34, BIP65, and BIP66 in tandem to protect against 51% attacks. The BIP16 acts as a signature to stop fake transactions from appearing on the block explorer while permitting fixed-length transactions of twenty bytes, reducing code length. With these new protections in place, it is now possible to send multi-signature transactions or several transactions originating from one initial transaction and wallet. BIP34 allows for the voting of new changes in the code without having to hard fork. Instead, the user can download a new version based on specified timeframe parameters. It’s a better means of updating the blockchain without implementing endless hard forks, swapping files, and old chains. BIP65 will make it easier to enable the lightning network. BIP66 consensus activation allows for block verification over time, without relying on OpenSSL, making the chain more independent and secure. SegWit implementation also provides for low transaction fees without reducing protection.
We have tried to improve the blockchain’s functionality, reducing the estimated block time to 20 seconds while maintaining a multi-year halving cycle. Initially, each block contains 100 coins and will half every two years. We also added a difficulty correction every ten blocks or 200 seconds to promote uniform block distribution. There is no pre-mine; it’s 100% Proof-of-Work with a daily mining rate of four thousand blocks, 120 thousand blocks per month, and 1.5 million blocks per year.