The UMI network is competently optimized: it uses the best and fastest solutions in the field of the crypto industry, while all inefficient methods are excluded by default. Optimization in combination with Proof-of-Authority technology, which is based on the master nodes, allows for almost instant payments.
⭐ During the network testing phase, an extremely high throughput was achieved:
✅ up to 4369 transactions per second.
✅ up to 262,140 transactions per minute.
✅ up to 15 728 400 per hour.
✅ up to 377 481 600 per day.
In comparison: 500 million transactions were carried out in the Bitcoin network over 12 years. The UMI network can process them in less than a week.
Topic: [UMI] UMI — Universal Money Instrument - page 11. (Read 3271 times)
UMI — Unique Digital Bank of the New Generation
As UMI grows, evil-wishers may compare this cryptocurrency to a financial pyramid because coin value in user wallets grows at the rate of up to 40% a month. Anticipating potential accusations, the UMI Team has decided to provide effective arguments for all “whistleblowers”.
Coin value doesn't grow on all wallets or by itself. It only grows for users who belong to structures contributing significantly into ecosystem development. Among other things, they also bring in new loyal users interested in promoting the coin.
ROY Club's powerful structures will benefit the project greatly and will be justly honored with reward for their contribution into network development. Inefficient structures, on the other hand, receive low or zero growth (if a structure owns less than 50,000 coins). It means that no one can prey on UMI.
Coin value starts to grow only after a user activates the Staking Smart Contract. They should also use their personal addresses within successful structures rather than usual addresses. Therefore, adding coins to a staking structure is more like a bank deposit. Coin value doesn't grow on the user's current account — it grows on their structure's deposit account.
Moreover, UMI is designed as an alternative to the existing financial system, with traditional banks on top of the system. In real fact, cryptocurrency is completely different. UMI can be defined as a “unique digital bank of the new generation”.
UMI's advantages over bank deposits and financial pyramids are clearly visible:
Unlike traditional banks, UMI's digital bank cannot collapse. A usual bank as well as a financial pyramid will shut down if withdrawal exceeds deposit. If at least 20% of bank's customers decide to withdraw funds from their deposit accounts, the bank will not be able to pay them because it won't' have enough cash. UMI, on the other hand, does not generate coins out of thin air or through a stream of fresh funds. New coins are generated using the unique staking technology based on the Smart Contract. Nothing will happen to the UMI network even if 100% of users wish to withdraw their coins from deposit accounts at the same time. The network will continue to operate smoothly, nothing will collapse.
When you make a deposit in a bank or a financial pyramid, funds are locked and sent to the managers. In UMI, coins are always stored on the users' wallets. The Smart Contract allows people to make “deposits” without granting access to their funds to anyone, not even organizers of the structure. Unlike unfair banks or financial pyramids, organizers of the structure cannot technically flee with users' funds as they have no access to them.
Banks issue printed money to citizens as loans charging extortionate interest. UMI gives the “printing press” directly to the people allowing them to generate new digital money themselves — and does so free of charge.
Unlike bank deposits, UMI can afford to pay its users a much higher interest. It's partially because we don't have to invest into an expensive banking infrastructure or huge management wages. Instead, to cover expenses of the UMI Team, the Smart Contract additionally generates 2% of all coins engaged in staking on a monthly basis. These funds are used to promote the cryptocurrency and pay grants to activists.
UMI earning rates are as high as those in financial pyramids. The idea behind the project is completely different, though. UMI's Smart Contract GUARANTEES that you will receive your coins and all earnings in 100% of the cases. It's embedded in the code of this technology. New UMI coins are just generated like Bitcoin and Ethereum tokens. There will be enough for all. While a financial pyramid will surely collapse as all it does is paying to those coming first using funds contributed by those coming next until withdrawal exceeds deposit and the “treasury” becomes empty.
Finally, unlike banks or financial pyramids the UMI network is decentralized and features a completely open source code. It does not belong to a bunch of people — it belongs to all users thus ensuring their funds are completely safe. The open source code guarantees there's no hidden agenda and rules out any potential fraud.
UMI is a new product with no equivalents. It's a “unique digital bank of the new generation” that surpasses traditional banks in all parameters. It's a cryptocurrency that can change the world. Not tomorrow — today. Right here, right now!
As UMI grows, evil-wishers may compare this cryptocurrency to a financial pyramid because coin value in user wallets grows at the rate of up to 40% a month. Anticipating potential accusations, the UMI Team has decided to provide effective arguments for all “whistleblowers”.
Coin value doesn't grow on all wallets or by itself. It only grows for users who belong to structures contributing significantly into ecosystem development. Among other things, they also bring in new loyal users interested in promoting the coin.
ROY Club's powerful structures will benefit the project greatly and will be justly honored with reward for their contribution into network development. Inefficient structures, on the other hand, receive low or zero growth (if a structure owns less than 50,000 coins). It means that no one can prey on UMI.
Coin value starts to grow only after a user activates the Staking Smart Contract. They should also use their personal addresses within successful structures rather than usual addresses. Therefore, adding coins to a staking structure is more like a bank deposit. Coin value doesn't grow on the user's current account — it grows on their structure's deposit account.
Moreover, UMI is designed as an alternative to the existing financial system, with traditional banks on top of the system. In real fact, cryptocurrency is completely different. UMI can be defined as a “unique digital bank of the new generation”.
UMI's advantages over bank deposits and financial pyramids are clearly visible:
Unlike traditional banks, UMI's digital bank cannot collapse. A usual bank as well as a financial pyramid will shut down if withdrawal exceeds deposit. If at least 20% of bank's customers decide to withdraw funds from their deposit accounts, the bank will not be able to pay them because it won't' have enough cash. UMI, on the other hand, does not generate coins out of thin air or through a stream of fresh funds. New coins are generated using the unique staking technology based on the Smart Contract. Nothing will happen to the UMI network even if 100% of users wish to withdraw their coins from deposit accounts at the same time. The network will continue to operate smoothly, nothing will collapse.
When you make a deposit in a bank or a financial pyramid, funds are locked and sent to the managers. In UMI, coins are always stored on the users' wallets. The Smart Contract allows people to make “deposits” without granting access to their funds to anyone, not even organizers of the structure. Unlike unfair banks or financial pyramids, organizers of the structure cannot technically flee with users' funds as they have no access to them.
Banks issue printed money to citizens as loans charging extortionate interest. UMI gives the “printing press” directly to the people allowing them to generate new digital money themselves — and does so free of charge.
Unlike bank deposits, UMI can afford to pay its users a much higher interest. It's partially because we don't have to invest into an expensive banking infrastructure or huge management wages. Instead, to cover expenses of the UMI Team, the Smart Contract additionally generates 2% of all coins engaged in staking on a monthly basis. These funds are used to promote the cryptocurrency and pay grants to activists.
UMI earning rates are as high as those in financial pyramids. The idea behind the project is completely different, though. UMI's Smart Contract GUARANTEES that you will receive your coins and all earnings in 100% of the cases. It's embedded in the code of this technology. New UMI coins are just generated like Bitcoin and Ethereum tokens. There will be enough for all. While a financial pyramid will surely collapse as all it does is paying to those coming first using funds contributed by those coming next until withdrawal exceeds deposit and the “treasury” becomes empty.
Finally, unlike banks or financial pyramids the UMI network is decentralized and features a completely open source code. It does not belong to a bunch of people — it belongs to all users thus ensuring their funds are completely safe. The open source code guarantees there's no hidden agenda and rules out any potential fraud.
UMI is a new product with no equivalents. It's a “unique digital bank of the new generation” that surpasses traditional banks in all parameters. It's a cryptocurrency that can change the world. Not tomorrow — today. Right here, right now!
The more coins, the greater the reward.
To activate UMI staking, you need to connect to the structure and send to your in-house address a certain number of coins that will be involved in staking.
✅ The more coins involved in staking, the greater the reward is received by the structure as a whole, and, accordingly, each participant individually.
✅ Remuneration for staking is calculated every second 24/7, regardless of where you are or what you do.
❗️The size of the remuneration directly depends on the size of the structure
1. Structure from 50,000 UMI. Growth from 5% to 9% per month.
2. Structure from 100,000 UMI. Growth from 10% to 14% per month.
3. Structure from 500,000 UMI. Growth from 15% to 19% per month.
4. Structure from 1,000,000 UMI. Growth from 20% to 24% per month.
5. Structure from 5,000,000 UMI. Growth from 25% to 29% per month.
6. Structure from 10,000,000 UMI. Growth from 30% to 34% per month.
7. Structure from 50,000,000 UMI. Growth from 31% to 35% per month.
8. Structure from 100 million UMI. Growth from 32% to 36% per month.
9. Structure from 500 million UMI. Growth from 34% to 38% per month.
10. Structure from 1,000,000,000 UMI. Growth from 36% to 40% per month.
⭐ If you have UMI coins, you WILL CONSTANTLY increase their number — up to 40% per month. This is the main principle of staking.
A simple example: you participate in a structure with a total balance of just over 1 million coins. This means that over the month the number of PERSONALLY YOUR coins will increase from 20% to 24%. For example, you had 10,000 UMI — it will become from 12,000 to 12,400 UMI, depending on the structure settings.
To activate UMI staking, you need to connect to the structure and send to your in-house address a certain number of coins that will be involved in staking.
✅ The more coins involved in staking, the greater the reward is received by the structure as a whole, and, accordingly, each participant individually.
✅ Remuneration for staking is calculated every second 24/7, regardless of where you are or what you do.
❗️The size of the remuneration directly depends on the size of the structure
1. Structure from 50,000 UMI. Growth from 5% to 9% per month.
2. Structure from 100,000 UMI. Growth from 10% to 14% per month.
3. Structure from 500,000 UMI. Growth from 15% to 19% per month.
4. Structure from 1,000,000 UMI. Growth from 20% to 24% per month.
5. Structure from 5,000,000 UMI. Growth from 25% to 29% per month.
6. Structure from 10,000,000 UMI. Growth from 30% to 34% per month.
7. Structure from 50,000,000 UMI. Growth from 31% to 35% per month.
8. Structure from 100 million UMI. Growth from 32% to 36% per month.
9. Structure from 500 million UMI. Growth from 34% to 38% per month.
10. Structure from 1,000,000,000 UMI. Growth from 36% to 40% per month.
⭐ If you have UMI coins, you WILL CONSTANTLY increase their number — up to 40% per month. This is the main principle of staking.
A simple example: you participate in a structure with a total balance of just over 1 million coins. This means that over the month the number of PERSONALLY YOUR coins will increase from 20% to 24%. For example, you had 10,000 UMI — it will become from 12,000 to 12,400 UMI, depending on the structure settings.
Answers to your questions
Hello everyone, the UMI team is in touch! Since the launch, we have been collecting various questions on chat rooms, forums and social networks. In addition to those questions that are already answered in our extensive FAQ, we noticed a number of other interesting topics of discussion. Especially for you, we have prepared an article with answers to non-standard questions regarding the UMI network. Go!
1. What is the final coin issue? 100, 200 billion?
UMI emissions are not limited. By participating in staking, you will always create new coins at a rate of up to 40% per month. According to our mission, everyone should be able to create “new digital money” at any time - not only today, but tomorrow.
2. Is it possible to somehow shorten the address, make it more beautiful, memorable, such as login or e-mail?
It is possible, but in that case the addresses would be less secure. In this regard, cryptocurrency addresses in the UMI network are generated according to crypto standards in order to protect against quantum computers. In order to ensure maximum security, they can only be long and generated only randomly, so at this stage no “shortening” or “simplification” of addresses is provided by the UMI network.
However, we are confident that in the future there will be services that will allow UMI users to safely simplify addresses to more convenient formats. Addresses may look like:
1) Shortened addresses, for example, umi-andrew;
2) "Nicky" as in Telegram, for example, @andrew;
3) And even as an e-mail, for example, [email protected].
All of them will be equivalent to the standard format UMI addresses. For example, umi-andrew, @andrew and [email protected] will mean the same as umi1yp0aljz7q9mp97tj5fuz5pdpz83avqydefac42n3pm0ya3j2w70sjzu8wc.
Thus, with the advent of new technologies, you can use a more convenient address format for operations with UMI.
3. How is the stability of the coin rate ensured at such an extremely high yield? Will there be inflation, depreciation? Indeed, perhaps in the future there will be more people who want to sell a coin than there are people who want to buy a coin.
If you are worried that an endless emission will “kill” a coin or are afraid of something like that, we hasten to reassure you - we took this moment into account. A well-thought-out reward system should not allow UMI to become a victim of hyperinflation, since emissions are available only to structures (pools) that make a huge contribution to the development of the ecosystem and attract a new loyal audience interested in coin development.
As for the "excess profit." Do not forget that 40% per month is a value that will be available only to the most successful structures after many years of development. To create coins with such a percentage, it is necessary to have more than 50 (!) Times more coins in the structure than were created by the network at launch. At the start, the first structures will offer a lower percentage of staking, which, however, will be a fair reward for their contribution to the development of the network.
Thus, UMI emission is constant, but not abnormal for the cryptocurrency market. UMI does not have any “killer excess return”. Moreover, the market has a huge number of successful cryptocurrencies with constant emission. The most striking example is the Ethereum network.
And most importantly, UMI is an evolving project with the ability to quickly and conveniently scale the ecosystem. If UMI encounters any problems, adjustments will be made as the network develops. Everything will be considered according to the situation based on the current state of the project. Decisions to modernize the network were made (and are made) by all leading crypto projects, including Bitcoin and Ethereum. At the moment, the smart contract offers adequate and relevant opportunities for UMI staking and does not cause any problems.
4. How can it be easy to implement UMI in a store so that people feel comfortable understanding? Is it possible to use the system of cashbacks, points? Will there be any application?
The UMI ecosystem allows you to integrate cryptocurrency into any development, including in online stores with cashback systems, points, and everything else.
Especially for this, we have created convenient API and SDK tools that we are constantly improving. However, in the future we plan to develop HD wallets and a universal smart contract for various platforms like eBay, Avito and so on.
HD wallets will allow you to conveniently create addresses without a private key, and a smart contract will act as a guarantor of the transaction, including blocking UMI coins until the transaction is completed. With these features, UMI will be easy to add to both online stores and various services.
A smart contract will make the trading and cryptocurrency integration process even more convenient and safer. But most importantly, he will offer innovative solutions and will allow to realize new opportunities in the field of trade or the provision of services that are currently simply unavailable.
Also in the near future there will be mobile applications that will greatly simplify the process of using coins.
5. Is there a direct integration of UMI into ROY Market? So that the seller receives coins at his address after the sale of the goods. And so that everything is convenient and safe?
Yes, thanks to the aforementioned HD wallets and a universal smart contract, cryptocurrency will be fully integrated, including in the ROY Market. The system of transactions using UMI will be adjusted as conveniently and safely as possible.
6. Is it possible to bind the wallet to e-mail with a 2-FA (two-factor authentication) connection, transactional passwords, binding to a phone number, etc.?
The UMI network is decentralized and works on the basis of blockchain technology, in which it is impossible to implement the solutions described by you technically. For maximum security, the UMI network does not collect any personal data, does not store passwords, and does not create any connections with user devices.
Nevertheless, in theory, such services can be implemented by individual services outside the blockchain network. And we are confident that such wallets will appear as the UMI infrastructure develops.
Also at this stage you can already use the SIGE[Suspicious link removed]o platform, which will automatically create for you a full-fledged UMI wallet with 2-factor protection of your coins by e-mail or GA (Google Authenticator).
In addition, a mobile application for UMI is already being developed, which will allow you to log in to your wallet and confirm transactions using Face-ID, Touch ID or PIN, as well as provide opportunities for safe storage of mnemonic phrases.
7. Are coins entered in the staking frozen or not?
Coins in staking do not freeze at all. Everything works exactly as described in Whitepaper - “entered” into the staking coins can be “withdrawn” at any time, even immediately after input.
8. In the white paper is written “Forging”, although on the Internet it seems like everywhere is written “Forging”?
Not everywhere. In various Russian-language sources, this term is written, and, accordingly, pronounced differently. Similarly, with other cryptocurrency names. For example, the creator of the Bitcoin network on Wikipedia is referred to as “Satoshi Nakamoto,” although the crypto community around the world calls this genius “Satoshi Nakamoto.” It is the second option that is mentioned in our Whitepaper.
As for the spelling of the term “Forging”, here we decided to use the sound variant of the original word “Forging”, since its transcription contains the sound “d” - [fɔːrdʒɪŋ]. Accordingly, in Russian the word is pronounced "Forging."
9. Is it possible to install a node on the phone to also be involved in maintaining the network?
At the moment, you can only install a node on a desktop computer or laptop, but in the future we will also release versions of nodes for smartphones and tablets.
10. Is it possible to install a node to maintain a network on a computer that does not work around the clock?
You can install it, but if you turn off the computer, the network will not be supported until you turn it on. As a convenient option, you can rent capacities on special services such as Amazon AWS. In this case, you will not need to keep the computer turned on.
Be that as it may, your coins in staking grow 24/7, regardless of whether you have a node installed to maintain the network or not. So this point should not cause inconvenience.
11. What is the motivation of node nodes to support the network if there are no commissions and they do not earn on this?
The master nodes are held by the UMI team, our partners and organizers of large staking structures who are interested in making the network work successfully and steadily generate new coins.
Validator nodes and lightweight nodes are held by those who need quick access to the API and who want to protect themselves as much as possible from scammers who fake API requests. That is, the creators of cryptocurrency exchanges, applications and various products based on the UMI ecosystem must technically launch their nodes in order to ensure the proper functioning of their services.
And finally, the motivation is not only self-interest. In the UMI network, our mission plays a much more significant role. Each node maintains a network that has the chance to provide a happy future for all of humanity. Everyone contributes to the development of an alternative financial system, which, by the way, makes it possible to “earn” excellently by staking on a smart contract.
Thus, all persons supporting the network still receive their dividends, which ultimately makes the network more secure and fast. So we are sure that all holders of nodes are maximally motivated to maintain the network without additional financial rewards.
12. Will the coin be exchanged to other exchanges? Indeed, listing on third-party exchanges will make it possible to manipulate a coin and trade, dropping the rate (as it happens with PRIZM).
As the UMI coin develops, it will be added to other reliable exchanges, not only to the SIGE[Suspicious link removed]o platform. However, looking at it is from a completely different angle, because this is an inevitable stage in the development of all successful cryptocurrencies, which carries many advantages, not disadvantages.
Listing on new exchanges means a new audience, new purchases, increased trading volume and, accordingly, higher stability of the coin. Traders, like other users, have the opportunity to join structures and start staking. And the one who bought the coin will never be interested in "dropping the course."
Moreover, there are two more important points:
1) Listing on new exchanges will not be in the very near future, but only after the coin reaches the widest possible audience and finally "gets stronger" - to a level that eliminates any manipulation and allows you to maintain an exceptionally healthy market.
2) We will focus only on large trading floors with an excellent reputation, real users and non-wound volumes.
13. Will there be any certificate, document, patent for UMI, certificate of registration?
In the near future, we plan to get a legal document on the legalization of UMI cryptocurrency in the European Union, confirming that UMI is a decentralized payment token (payment system) with a completely open source code, and not a security, security-token, utility-token or something another. This will open up new possibilities for the use and integration of UMI cryptocurrency. Further, we plan to address the issue of legalization of cryptocurrency in other jurisdictions.
Also, when the cryptocurrency passes a “strength test” - after the coin reaches the milestone of 1 million users, the UMI team or one of the partners will register technology patents and receive the appropriate certificates.
14. Can I add my own words in the mnemonic phrase for greater reliability?
In the official wallet and UMI nodes, no. For maximum security, the UMI network adheres to the secure Bip39 standard, which is also implemented in Bitcoin and other well-proven cryptocurrencies.
The Bip39 standard is a convenient way to create catchy text without a human factor. For example, one of the most popular passwords for social networks is a password of the form “Qwerty123” and “Password123”. It is very easy for hackers to crack them. In theory, users can, for their convenience, also unknowingly create unsafe mnemonic phrases - with simple words connected with each other, popular phrases and so on. The Bip39 format protects users from vulnerabilities of this kind, and the words are selected in such a way that they can be easily remembered by the first three letters.
So, your mnemonic phrase is not just a collection of words, but an encrypted secret key. The UMI team considers user safety its top priority, therefore, in order to ensure maximum security in official wallets, a mnemonic phrase is generated completely randomly according to the Bip39 standard.
However, the UMI network does not impose any restrictions on the creators of wallets and other applications. Therefore, over time, unofficial wallets will surely appear, where you can "collect" a mnemonic phrase from the desired words. Bip39 in the official wallet is nothing more than a recommendation from the UMI team.
That's all. We hope to answer all your questions. Also, for your convenience, we will create a new section in our FAQ, where we will place all the answers given above.
Regards, UMI Team!
Unique Proof-of-Authority Model
The unique Proof-of-Authority Bitcoin model and the vast majority of other cryptocurrencies work using Proof-of-Work (PoW) technology, as well as Proof-of-Stake (PoS) and its derivatives (e.g. DPoS). This fact significantly limits their bandwidth and implies the presence of commission costs.
UMI goes a completely different way. The heart of the network is the innovative Proof-of-Authority (PoA) technology. It is she who provides such a fast and safe operation of the network without commission costs.
The unique Proof-of-Authority (PoA) model in the UMI network allows you to bypass the main problems inherent in PoW and PoS algorithms.
- Master nodes are responsible for creating new blocks. They are “Master” because they are subject to special ultra-high requirements for speed and network bandwidth.
- Network nodes are validated by validator nodes, which check the blocks for correctness and exclude the possibility of falsification. Any participant can run a validator node, thereby further enhancing network security and reliability.
- Also, any member of the network has the ability to launch an easy node that allows you to view and send transactions without downloading the blockchain and maintaining the network.
The presence of a master node can significantly increase network bandwidth, and, accordingly, the speed of transfers.
No one has the opportunity to connect to the master nodes and somehow affect their work, respectively, an attempt to create a block by another node is automatically rejected. This provides maximum security by protecting UMI from any kind of attack.
❗️The Proof-of-Authority concept completely eliminates the possibility of fraud. This ensures that user tools are always safe.
The unique Proof-of-Authority Bitcoin model and the vast majority of other cryptocurrencies work using Proof-of-Work (PoW) technology, as well as Proof-of-Stake (PoS) and its derivatives (e.g. DPoS). This fact significantly limits their bandwidth and implies the presence of commission costs.
UMI goes a completely different way. The heart of the network is the innovative Proof-of-Authority (PoA) technology. It is she who provides such a fast and safe operation of the network without commission costs.
The unique Proof-of-Authority (PoA) model in the UMI network allows you to bypass the main problems inherent in PoW and PoS algorithms.
- Master nodes are responsible for creating new blocks. They are “Master” because they are subject to special ultra-high requirements for speed and network bandwidth.
- Network nodes are validated by validator nodes, which check the blocks for correctness and exclude the possibility of falsification. Any participant can run a validator node, thereby further enhancing network security and reliability.
- Also, any member of the network has the ability to launch an easy node that allows you to view and send transactions without downloading the blockchain and maintaining the network.
The presence of a master node can significantly increase network bandwidth, and, accordingly, the speed of transfers.
No one has the opportunity to connect to the master nodes and somehow affect their work, respectively, an attempt to create a block by another node is automatically rejected. This provides maximum security by protecting UMI from any kind of attack.
❗️The Proof-of-Authority concept completely eliminates the possibility of fraud. This ensures that user tools are always safe.
An important goal of UMI is to provide every person on the planet with the opportunity to participate in the “creation of new money” (in this case, digital). Or, as this process is also called, in emission. At the moment, new money is being printed by central banks: in the USA — by the Federal Reserve System (FRS), in Europe — by the European Central Bank (ECB), in China — by the People’s Bank of China, in Russia — by the Bank of Russia.
Freshly printed bills flow into the economy. But how exactly they do this does not quite fit into the concept of justice in relation to ordinary citizens. Tell me, did you have a situation at least once when the central bank printed new money and issued it to you? Bet that no. And surely the same story is with your friends and colleagues.
This is because, as a rule, freshly printed funds are poured into the economy according to the following or similar scheme:
1️⃣ The central bank creates money.
2️⃣ Pours them into commercial banks (for example, buys bonds of private banks as in the process of quantitative easing (QE)).
3️⃣ Commercial banks distribute this money in the form of LOANS on “favorable” conditions.
The result of the current issue: in the short term, people have more money to buy goods. In the long run, “more money” means more debt, because credit is not a gift. You need to pay for it. And pay with interest.
❗️ The current financial system hardly provides for situations where money directly from the central bank falls into the wallets of ordinary mortals. However, the task of UMI is to correct this by fundamentally transforming the process of issuing assets in favor of society.
✅ With UMI, everything is indecently simple: people themselves “create new digital money”. For this, neither energy consumption nor powerful equipment is needed. Nothing. All that is needed is to start staking.
New digital money bypasses banks and other intermediaries, falling directly into the wallet of the people themselves, who are issuers. Billions of people around the planet, united by one idea, create new means themselves and use them themselves, without asking anyone for permission. And all this is completely free.
Banks confuse humanity and turn off the light.
UMI — turn it on again❗️
Freshly printed bills flow into the economy. But how exactly they do this does not quite fit into the concept of justice in relation to ordinary citizens. Tell me, did you have a situation at least once when the central bank printed new money and issued it to you? Bet that no. And surely the same story is with your friends and colleagues.
This is because, as a rule, freshly printed funds are poured into the economy according to the following or similar scheme:
1️⃣ The central bank creates money.
2️⃣ Pours them into commercial banks (for example, buys bonds of private banks as in the process of quantitative easing (QE)).
3️⃣ Commercial banks distribute this money in the form of LOANS on “favorable” conditions.
The result of the current issue: in the short term, people have more money to buy goods. In the long run, “more money” means more debt, because credit is not a gift. You need to pay for it. And pay with interest.
❗️ The current financial system hardly provides for situations where money directly from the central bank falls into the wallets of ordinary mortals. However, the task of UMI is to correct this by fundamentally transforming the process of issuing assets in favor of society.
✅ With UMI, everything is indecently simple: people themselves “create new digital money”. For this, neither energy consumption nor powerful equipment is needed. Nothing. All that is needed is to start staking.
New digital money bypasses banks and other intermediaries, falling directly into the wallet of the people themselves, who are issuers. Billions of people around the planet, united by one idea, create new means themselves and use them themselves, without asking anyone for permission. And all this is completely free.
Banks confuse humanity and turn off the light.
UMI — turn it on again❗️
The UMI cryptocurrency is designed to finally solve three main problems that seriously limit the financial freedom of people around the world. From now on:
1️⃣ You (and only you!) Manage your funds. With UMI, you owe nothing to anyone. No bank is entitled to tell YOU what to do with YOUR means. Nobody freezes your account, you do not need to report to anyone and explain anything. You yourself control your funds and dispose of them as you see fit. Any transaction in the UMI network is carried out directly between people — WITHOUT INTERMEDIARIES. Generally. With UMI, you are your own bank.
2️⃣ No need to pay anyone and spend time waiting. All transfers are instant and are not subject to commission. It doesn’t matter to whom, when and where you send the coins. Even if it is a person on a completely different end of the planet, funds will come to him immediately, and you will not pay a penny for the transfer. And no queues, no “trips” to the banks.
3️⃣ Feel safe. No transaction can be compromised, no one can be changed or canceled. A decentralized blockchain network is not prone to hacking hackers. And your personal data is precisely PERSONAL data that no one knows except YOU. They will never leave the UMI network on the Internet, if only because they are not in it. To use UMI, you do not need a full name, registration, or phone number. Nothing but a computer / smartphone and Internet access.
⚡️In comparison with banks, UMI is an impeccable payment instrument, ideal for both large payments and micro-transactions.
1️⃣ You (and only you!) Manage your funds. With UMI, you owe nothing to anyone. No bank is entitled to tell YOU what to do with YOUR means. Nobody freezes your account, you do not need to report to anyone and explain anything. You yourself control your funds and dispose of them as you see fit. Any transaction in the UMI network is carried out directly between people — WITHOUT INTERMEDIARIES. Generally. With UMI, you are your own bank.
2️⃣ No need to pay anyone and spend time waiting. All transfers are instant and are not subject to commission. It doesn’t matter to whom, when and where you send the coins. Even if it is a person on a completely different end of the planet, funds will come to him immediately, and you will not pay a penny for the transfer. And no queues, no “trips” to the banks.
3️⃣ Feel safe. No transaction can be compromised, no one can be changed or canceled. A decentralized blockchain network is not prone to hacking hackers. And your personal data is precisely PERSONAL data that no one knows except YOU. They will never leave the UMI network on the Internet, if only because they are not in it. To use UMI, you do not need a full name, registration, or phone number. Nothing but a computer / smartphone and Internet access.
⚡️In comparison with banks, UMI is an impeccable payment instrument, ideal for both large payments and micro-transactions.
Why is there no introduction: how to get coins?
The UMI team has recently partnered with SIGE[Suspicious link removed]o, a trading platform that combines an exchange, a P2P platform for secure cryptocurrency exchange for fiat money, and an automated exchanger. In the near future it will be possible to buy and sell UMI coins at SIGE[Suspicious link removed]o. We'll notify you later, so stay tuned!
The First Structure for UMI Staking Successfully Integrated!
Increase the number of UMI in your wallet by up to 40% per month
Important news! The first structure for UMI staking within our smart contract — the ROY Club — has been successfully integrated!
The ROY Club is the most successful community allowing its members to generate profit from cryptocurrencies. It comprises over 150,000 users from Europe, Asia, Africa, and South America. Over a year and a half, the ROY Club has united more than 5,000 powerful leaders who are spreading the idea of a fair financial system around the globe. The Club has reached a consistent flow of over 10,000 new members on a monthly basis.
The staking technology ensures the increase of UMI coins by 40% per month and allows receiving 9-level bonuses as a reward for building a partnership team. For more details, see the ROY Club website ROY.club.
Specifically for the ROY Club, the UMI team airdropping UMI coins.
The ROY Club team will distribute these coins among the top leaders and the most active and loyal participants in a fair way.
Having received the coins through the airdrop, the users will register on the official website of the ROY Club ROY.club using their wallets created on UMI.top or SIGE[Suspicious link removed]o. They can also start building their own team and take part in UMI staking.
It should also be noted that as our partner the ROY Club helped our team to test the UMI network. In our turn, we helped them to integrate the coin. We are really proud of this cooperation!
Best regards, UMI Team!
Increase the number of UMI in your wallet by up to 40% per month
Important news! The first structure for UMI staking within our smart contract — the ROY Club — has been successfully integrated!
The ROY Club is the most successful community allowing its members to generate profit from cryptocurrencies. It comprises over 150,000 users from Europe, Asia, Africa, and South America. Over a year and a half, the ROY Club has united more than 5,000 powerful leaders who are spreading the idea of a fair financial system around the globe. The Club has reached a consistent flow of over 10,000 new members on a monthly basis.
The staking technology ensures the increase of UMI coins by 40% per month and allows receiving 9-level bonuses as a reward for building a partnership team. For more details, see the ROY Club website ROY.club.
Specifically for the ROY Club, the UMI team airdropping UMI coins.
The ROY Club team will distribute these coins among the top leaders and the most active and loyal participants in a fair way.
Having received the coins through the airdrop, the users will register on the official website of the ROY Club ROY.club using their wallets created on UMI.top or SIGE[Suspicious link removed]o. They can also start building their own team and take part in UMI staking.
It should also be noted that as our partner the ROY Club helped our team to test the UMI network. In our turn, we helped them to integrate the coin. We are really proud of this cooperation!
Best regards, UMI Team!
Why is there no introduction: how to get coins?
Price 1 UMI ?
We continue to delight you with great news! Within 2 weeks, UMI will be integrated into the ROY Club, which will be the first structure for staking.
⭐️ ROY Club is the most successful cryptocurrency earning community with over 150,000 users from Europe, Asia, Africa and South America. Over the course of a year and a half, ROY Club has gathered around 5,000 strong leaders promoting the ideology of a fair financial system around the world, and has provided a steady flow of more than 10,000 new members per month.
In honor of this remarkable event, we are launching a contest with a total prize pool of 1000 UMI. Everyone can participate!
How to get 50 UMI coins?
Record a video about UMI and upload it to YouTube. In the video, share your opinion about cryptocurrency, tell us what prospects you see, what you hope for, and so on. Improvise! A great example is the video of Vladimir Moshkin, the head of the ROY Club.
https://youtu.be/iBLR7ZX0HRU
Subscribe to our social networks (minimum 3).
https://www.facebook.com/umi.top.eng/
https://www.instagram.com/umi.top.eng/
https://twitter.com/umi_top_eng
Send us a link to the video through this form: https://forms.gle/NTug7TxsGGK9q3ur6
❗️ Video duration — at least 60 seconds. Quality — not lower than 480p.
Who will receive the prizes:
50 UMI coins will be received by the authors of the video, which will collect at least 200 views and 10 likes. The prizes will be awarded to the first 20 people who sent a video with the conditions met. If 20 winners are not reached, the remaining prize pool will be evenly distributed among the remaining winners.
The competition will last for 1 week. Be sure to participate and get cool prizes! Waiting for your videos!
Regards, UMI Team!
⭐️ ROY Club is the most successful cryptocurrency earning community with over 150,000 users from Europe, Asia, Africa and South America. Over the course of a year and a half, ROY Club has gathered around 5,000 strong leaders promoting the ideology of a fair financial system around the world, and has provided a steady flow of more than 10,000 new members per month.
In honor of this remarkable event, we are launching a contest with a total prize pool of 1000 UMI. Everyone can participate!
How to get 50 UMI coins?
Record a video about UMI and upload it to YouTube. In the video, share your opinion about cryptocurrency, tell us what prospects you see, what you hope for, and so on. Improvise! A great example is the video of Vladimir Moshkin, the head of the ROY Club.
https://youtu.be/iBLR7ZX0HRU
Subscribe to our social networks (minimum 3).
https://www.facebook.com/umi.top.eng/
https://www.instagram.com/umi.top.eng/
https://twitter.com/umi_top_eng
Send us a link to the video through this form: https://forms.gle/NTug7TxsGGK9q3ur6
❗️ Video duration — at least 60 seconds. Quality — not lower than 480p.
Who will receive the prizes:
50 UMI coins will be received by the authors of the video, which will collect at least 200 views and 10 likes. The prizes will be awarded to the first 20 people who sent a video with the conditions met. If 20 winners are not reached, the remaining prize pool will be evenly distributed among the remaining winners.
The competition will last for 1 week. Be sure to participate and get cool prizes! Waiting for your videos!
Regards, UMI Team!
UMI is a universal monetary instrument It's innovative decentralized cryptocurrency allowing you to make virtually instant, free, and completely secure transfers.
Developed from scratch, this full-scale blockchain platform can create and execute smart contracts and operates using master nodes and the unique Proof-of-Authority model.
UMI is the only cryptocurrency employing the staking technology based on a smart contract enabling network users to unite to build structures and increase their amount of coins by up to 40 % a month by simply storing them in their wallets.
Virtually instant transactions. No fees.
- UMI is 300 times faster than Bitcoin. It can process about 4,369 transactions per second and strives to outclass VISA and MasterCard.
- The UMI network can process 500 million transactions that have been carried out in the Bitcoin network for 12 years in less than a week.
- Block generation time is up to 15 seconds.
- Each transfer is totally free-of-charge. It doesn't matter where and how much money you send. Users don't need to pay fees.
It's more secure and reliable than other cryptocurrencies.
- Blockchain technology and complete decentralization ensure protection against hacking, leaks, unauthorized changes, and third-party intervention. UMI has no “center” that could be negatively influenced. Any participant of a network can launch a validator node.
- The innovative Proof-of-Authority technology enables protection from 51 % Attacks, Nothing-at-Stake, and other blockchain vulnerabilities.
- UMI ensures the unique model of DDoS protection (spam transactions). UMI requires a spammer device to complete a mathematical operation whose difficulty level increases until the attack loses all its efficiency.
- UMI prevents money loss due to computer software or hardware failures. The network does not use the wallet.dat file and there is absolutely no need to store anything in electronic form.
Smart contracts, convenience, and transparency
- UMI is not just digital money. It's a full-scale blockchain platform that can be used to create and execute smart contracts with any level of complexity.
- The network can be easily modified and scaled with cutting edge technology solutions. It's easily integrated with the existing payment systems, cryptocurrency exchange platforms, and exchanges.
- Using UMI is as easy as sending a sticker on Telegram.
- The source code of the UMI network, as well as its blockchain, is fully open to the public.
Staking based on smart contract increases the number of UMI in your wallet by up to 40% per month
- UMI is the only cryptocurrency which implements the staking concept on the basis of a smart contract.
- Unite in structures and increase the number of your coins by up to 40% per month by simply storing them in your wallets. No extra power usage and no software It's new-generation mining.
- To start staking, join any structure or create your own one. After you join a structure, your coins remain in your wallet. Only you can control your coins. Structure organizers can set individual parameters and receive an additional reward — 1 % to 5 % per month from total staking of their structure + bonuses. By creating your own projects on the UMI basis you can earn even more.
The reward amount depends directly on the structure size ((total number of UMI coins)
The more coins are used for staking, the higher reward is received by each participant.
Structure size (min) –– 50,000 UMI. Monthly increase –– 5% to 9%.
Structure size (min) –– 100,000 UMI. Monthly increase –– 10% to 14%.
Structure size (min) –– 500,000 UMI. Monthly increase –– 15% to 19%.
Structure size (min) –– 1,000,000 UMI. Monthly increase –– 20% to 24%.
Structure size (min) –– 5,000,000 UMI. Monthly increase –– 25% to 29%.
Structure size (min) –– 10,000,000 UMI. Monthly increase –– 30% to 34%.
Structure size (min) –– 50,000,000 UMI. Monthly increase –– 31% to 35%.
Structure size (min) –– 100,000,000 UMI. Monthly increase –– 32% to 36%.
Structure size (min) –– 500,000,000 UMI. Monthly increase –– 34% to 38%.
Structure size (min) –– 1,000,000 UMI. Monthly increase –– 36% to 40%.
Staking rewards are accrued every second, 24/7 regardless of where you are and what you are doing.
Grants for active participants
- A smart contract based on staking generates additional coins for grants to active participants. Grants are assigned to persons who create products on the UMI basis and enhance the network development in any way.
- Grants are only paid to most promising and/or powerful teams (or individuals) who provide the most attractive solutions.
- In addition to grants, a fund for best UMI based products will be created. Coins from this fund will be allocated for the development of the most powerful projects.
Join in and change the world with UMI!
UMI's goal is to provide every person on the planet with an opportunity to participate in the “creation of new digital money” and make instant, secure, and free transactions UMI is a true alternative to the existing financial system that can build the world's strongest community comprising billions of users from all around the globe!
Information regarding UMI coin sales will be published over the next 2 weeks. Negotiations with the trading platform are already underway.
Over the next 2 weeks, the first structure for UMI staking will be created. The integration process is already underway.
UMI — Universal Money Instrument. The future is already here!
Website: https://umi.top/
Whitepaper: https://umi.top/about
Code on Github: https://github.com/umi-top
Web wallet: https://wallet.umi.top/
Blockchain / statistics: https://blockchain.umi.top/
API: https://umi.wiki/
Yellowpaper: https://umi.top/yellowpaper
Onepager: https://umi.top/onepager
Presentation: https://umi.top/presentation
Brand book: https://umi.top/brandbook
Help:
FAQ: https://umi.top/faq
Guide: https://umi.top/guide
Feedback:
General issues: [email protected]
Business proposals: [email protected]
Developer team: [email protected]
We are in social media:
Facebook: https://www.facebook.com/umi.top.eng
Instagram: https://www.instagram.com/umi.top.eng/
YouTube: https://www.youtube.com/channel/UC8Beb0iYiIkb6YNx_gyQZpw
Twitter: https://twitter.com/umi_top_eng
Medium: https://medium.com/@umi_top
Reddit: https://www.reddit.com/user/UMITop
Telegram: https://t.me/umi_news_eng
Developed from scratch, this full-scale blockchain platform can create and execute smart contracts and operates using master nodes and the unique Proof-of-Authority model.
UMI is the only cryptocurrency employing the staking technology based on a smart contract enabling network users to unite to build structures and increase their amount of coins by up to 40 % a month by simply storing them in their wallets.
Virtually instant transactions. No fees.
- UMI is 300 times faster than Bitcoin. It can process about 4,369 transactions per second and strives to outclass VISA and MasterCard.
- The UMI network can process 500 million transactions that have been carried out in the Bitcoin network for 12 years in less than a week.
- Block generation time is up to 15 seconds.
- Each transfer is totally free-of-charge. It doesn't matter where and how much money you send. Users don't need to pay fees.
It's more secure and reliable than other cryptocurrencies.
- Blockchain technology and complete decentralization ensure protection against hacking, leaks, unauthorized changes, and third-party intervention. UMI has no “center” that could be negatively influenced. Any participant of a network can launch a validator node.
- The innovative Proof-of-Authority technology enables protection from 51 % Attacks, Nothing-at-Stake, and other blockchain vulnerabilities.
- UMI ensures the unique model of DDoS protection (spam transactions). UMI requires a spammer device to complete a mathematical operation whose difficulty level increases until the attack loses all its efficiency.
- UMI prevents money loss due to computer software or hardware failures. The network does not use the wallet.dat file and there is absolutely no need to store anything in electronic form.
Smart contracts, convenience, and transparency
- UMI is not just digital money. It's a full-scale blockchain platform that can be used to create and execute smart contracts with any level of complexity.
- The network can be easily modified and scaled with cutting edge technology solutions. It's easily integrated with the existing payment systems, cryptocurrency exchange platforms, and exchanges.
- Using UMI is as easy as sending a sticker on Telegram.
- The source code of the UMI network, as well as its blockchain, is fully open to the public.
Staking based on smart contract increases the number of UMI in your wallet by up to 40% per month
- UMI is the only cryptocurrency which implements the staking concept on the basis of a smart contract.
- Unite in structures and increase the number of your coins by up to 40% per month by simply storing them in your wallets. No extra power usage and no software It's new-generation mining.
- To start staking, join any structure or create your own one. After you join a structure, your coins remain in your wallet. Only you can control your coins. Structure organizers can set individual parameters and receive an additional reward — 1 % to 5 % per month from total staking of their structure + bonuses. By creating your own projects on the UMI basis you can earn even more.
The reward amount depends directly on the structure size ((total number of UMI coins)
The more coins are used for staking, the higher reward is received by each participant.
Structure size (min) –– 50,000 UMI. Monthly increase –– 5% to 9%.
Structure size (min) –– 100,000 UMI. Monthly increase –– 10% to 14%.
Structure size (min) –– 500,000 UMI. Monthly increase –– 15% to 19%.
Structure size (min) –– 1,000,000 UMI. Monthly increase –– 20% to 24%.
Structure size (min) –– 5,000,000 UMI. Monthly increase –– 25% to 29%.
Structure size (min) –– 10,000,000 UMI. Monthly increase –– 30% to 34%.
Structure size (min) –– 50,000,000 UMI. Monthly increase –– 31% to 35%.
Structure size (min) –– 100,000,000 UMI. Monthly increase –– 32% to 36%.
Structure size (min) –– 500,000,000 UMI. Monthly increase –– 34% to 38%.
Structure size (min) –– 1,000,000 UMI. Monthly increase –– 36% to 40%.
Staking rewards are accrued every second, 24/7 regardless of where you are and what you are doing.
Grants for active participants
- A smart contract based on staking generates additional coins for grants to active participants. Grants are assigned to persons who create products on the UMI basis and enhance the network development in any way.
- Grants are only paid to most promising and/or powerful teams (or individuals) who provide the most attractive solutions.
- In addition to grants, a fund for best UMI based products will be created. Coins from this fund will be allocated for the development of the most powerful projects.
Join in and change the world with UMI!
UMI's goal is to provide every person on the planet with an opportunity to participate in the “creation of new digital money” and make instant, secure, and free transactions UMI is a true alternative to the existing financial system that can build the world's strongest community comprising billions of users from all around the globe!
Information regarding UMI coin sales will be published over the next 2 weeks. Negotiations with the trading platform are already underway.
Over the next 2 weeks, the first structure for UMI staking will be created. The integration process is already underway.
UMI — Universal Money Instrument. The future is already here!
Website: https://umi.top/
Whitepaper: https://umi.top/about
Code on Github: https://github.com/umi-top
Web wallet: https://wallet.umi.top/
Blockchain / statistics: https://blockchain.umi.top/
API: https://umi.wiki/
Yellowpaper: https://umi.top/yellowpaper
Onepager: https://umi.top/onepager
Presentation: https://umi.top/presentation
Brand book: https://umi.top/brandbook
Help:
FAQ: https://umi.top/faq
Guide: https://umi.top/guide
Feedback:
General issues: [email protected]
Business proposals: [email protected]
Developer team: [email protected]
We are in social media:
Facebook: https://www.facebook.com/umi.top.eng
Instagram: https://www.instagram.com/umi.top.eng/
YouTube: https://www.youtube.com/channel/UC8Beb0iYiIkb6YNx_gyQZpw
Twitter: https://twitter.com/umi_top_eng
Medium: https://medium.com/@umi_top
Reddit: https://www.reddit.com/user/UMITop
Telegram: https://t.me/umi_news_eng
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