Ubiq Coin (UBQ) Price, News, & Wallet
Ubiq (UBQ) is based on the Ethereum blockchain, with a small difference. Ubiq focuses on enterprise applications and, therefore, uses only the most secure and stable component of the Ethereum blockchain in order to make UBQ more appealing to its niche audience.
Ethereum Enterprise already exists, and that’s what leads many investors to initially shrugging their shoulders at the thought of a “spin-off” to it. However, Ubiq was not designed to compete with Ethereum or even Ethereum Enterprise. Instead, Ubiq has looked to take its path, and it has its list of pros and cons. It is built on an improved Ethereum codebase and is a decentralized and automated solution to thousands of tasks. Ubiq acts as a large globally distributed ledger and supercomputer that uses blockchain technology to initiate transactions.
This decentralized platform has sharpened itself a strong competitive edge as the team behind it has continuously worked to develop the blockchain and market it to a global audience. One of the primary reasons why an enterprise might choose Ubiq over some other platform is that it has a solid and stale history.
Ubiq was built from the ground up to focus on the needs of enterprises and their many applications of this blockchain network, and that in and of itself does help to set it apart from Ethereum Enterprise. Although Ethereum Enterprise is, naturally, focused on enterprise use, Ethereum in and of itself has a broader focus. Ubiq is 100% dialed into the enterprise use case.
Already, Ubiq has been received plenty of attention. The team has been certain to get involved in many different crypto conferences to help bring Ubiq to the forefront, and multiple publications have also covered it.
The founders of Ubiq decided to launch things without an ICO (Initial Coin Offering). Because of that, it is still a rather small project, but it doesn’t mean Ubiq isn’t making excellent headway. Historical data has shown notable growth.
The UBQ token replaced the old deprecated JBS (Jumbucks) token, and users have been able to trade it on multiple exchanges following the genesis block.
The team has based everything on the Ethereum blockchain. It's a hard fork that is entirely separate from the Ethereum world as users know it. The blockchain was modified slightly to make it as stable, secure, and enterprise-focused as possible. The team also implemented the Ethereum Virtual Machine into Ubiq, which is used for dApps and smart contracts.
The main point of the motivation behind Ubiq was that the team recognized that Ethereum was still very much evolving. Ubiq felt that the fork was completely necessary to make for the most predictable and stable platform possible since Ethereum remains under active development, like most blockchain networks today.
While that heavy development means good news for Ethereum users overall, Ubiq looked ahead and decided to be proactive. By doing a hard fork, they can avoid core changes in the development of the Ethereum network that may render current code, contracts, or dApps unusable at some point in the future.
This systematic approach puts a priority on the platform's stability, which is a huge part of what makes Ubiq so appealing. Since constantly upgrading and changing platforms is a vast and costly ordeal for enterprises, Ubiq decided to put this at the forefront.
Negating the "technological risk" that comes with developing on such a platform, Ubiq can entice companies to build their smart contracts on the Ubiq network with the certainty that these contracts are going to keep functioning as normal even as new (carefully planned) upgrades happen to Ubiq's infrastructure.
Unlike some other crypto projects, Ubiq cryptocurrency is entirely not-for-profit. The platform is open source, as is customary, and led by five developers who have vast experience with the blockchain. Just like any investor who’s joining the platform, developers are required to purchase UBQ in the same way that users do. Since there was no ICO, the team doesn’t have an official development budget. However, the team has found a way to fund the platform’s growth by starting Ubiq Technologies Inc. The company is designed to be a funding vehicle that will help enable the team to continue to work on the Ubiq platform.
By partnering and consulting with enterprises, Ubiq Technologies, Inc. is helping companies get started with their blockchain implementation. This was a long-planned step in the growth of Ubiq since there was no ICO, which the team avoided in hopes of inspiring a true, community-driven platform.
By not having an ICO, Ubiq also avoided the many regulatory issues that arise when raising money with a token sale. Ubiq remains small, and even the UBQ token can prove a bit hard to get your hands on if you are looking to trade it.
To get things going, the Ubiq team decided to create the UBQ token from the purchase of JBS. JBS was an existing token, under the name of Jumbucks, that has been deprecated.
As such, Ubiq chose to take on the transaction history and account balances of JBS to launch the Ubiq platform. They transitioned the JBS tokens from its independent proof-of-stake blockchain and moved it over to the Ethereum Virtual machine based on Ubiq’s blockchain.
No one can currently buy UBQ tokens without first owning Bitcoin. That’s because, to purchase UBQ coins, you’ll need to find an exchange that holds it. As of right now, UBQ isn’t available on too many exchanges, and that’s why there is currently not a fiat gateway to purchase it.
Bitcoin will get you the most out of the deal if you decide to trade for UBQ. Almost all of the UBQ orders that are placed are handled through Bittrex, so that’s an excellent place to go if you want to invest in Ubiq and Bitcoin is the only trading pair available.
If you have another type of coin and you’d like to trade for UBQ, it can be done through Cryptopia, which offers multiple trading pairs, including BTC, LTC, and DOGE. With that said, the volume for the latter two is negligible at best so you probably won’t get a fair price using either one of these options.
Regardless of your decision, you have multiple options available when it comes to selecting a Ubiq wallet. Ubiq has a customized version of the popular Ethereum wallets.
However, you can also choose to put your UBQ into Fusion, which is a desktop-based wallet that was forked from Ethereum's Mist wallet. Ledger Nano S and Ledger Blue devices are other options that are practical for a user seeking a reliable hardware option to store their UBQ. Also be sure to double check that your wallet address matches the address of the exchange you are using.
Ubiq price stayed relatively stagnant at the time of its inception, but slowly began to rise in market cap through 2016, and then drastically in the summer of 2017. Price of Ubiq reached an all-time high in January 2018 at $7.16. Using a standard currency converter, the UBQ to USD exchange rate was 0.525269 as of October 2018. There is a circulating supply (no listed max supply) of 402,609,099 Ubiq coins.
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