Ubiq Smart: Automated Smart Contracts For Blockchain Apps?

Ubiq is an open-source, decentralized system or platform where users create and implement blockchain applications. It is based on the Ethereum codebase, allowing the implementation of smart contracts. The platform is similar to a large ledger distributed globally and like a supercomputer. This allows users to create automated and decentralized solutions that carry out thousands of tasks. You can receive, send and store your tokens in one place.

How Does Ubiq Work?

The team behind this platform has extensive knowledge of blockchain technology and cryptocurrencies. They also have adequate knowledge on world financial systems. They have gone ahead and created the Fusion Wallet that brings together all of your assets, accounts and other applications into one simple and easy to use interface. This wallet will have all the necessary tools that you will need to build your contracts and tokens. You have to download and install this wallet to use the Ubiq platform, though you can also access the same through a command line interface on Linux, Windows and Mac OS X.

The Fusion Wallet

The wallet contains a full desktop app and a browser based, client-side wallet for UBQ and Ubiq based tokens, hardware for securing your funds even when you are offline and a server/console (Gubiq). This apps work together in one simple interface.

Features That Make This Platform Unique

Ubiq features unique apps that make it easy to use while also providing adequate security. Here are some of these innovations:

Flux Difficulty Adjustment

This is one unique security feature that sets aside the Ubiq platform from the rest of the Ethereum based systems. Most of the other systems are frequently attacked as they lack the level of difficulty in their algorithm like the one present in the Ubiq system. Ubiq prevents such attacks with its flux difficult algorithm that makes it difficult for hackers as they have to target every block.

Ledger Hardware Wallet

This wallet is composed of the Ledger Nano S and Ledger Blue that you can receive, store and send network tokens. This ledger makes it easy to operate within one system.

Exponentially Subjective Scoring

This is an optional security feature that protects your tokens during adverse network conditions like forks. According to Ubiq developers, the feature significantly decreases the period through which a double spend can take place reducing the chances of making exponential losses.

The Ubiq Coin

Check out the Ubiq Coin that the developers call UBQ. This coin is already hitting the online currency by storm. It currently has a market capitalization of about $75, 900,000. This is equivalent to approximately 27,000 bitcoins.

The Brains Behind Ubiq

Ubiq platform was developed by four able individuals who have had substantial experience with cryptocurrencies. The four: Julian Yap, Luke Williams, Kris Hansen and Alex Sterk have all worked with various blockchains and developed blockchain backed systems. They have also created systems that help integrate with financial platforms.

Yap has worked on Bittrex exchange, Decred and Blocktech projects, Williams developed the Iquidus Explorer, Hansen is a blockchain developer while Sterk is an expert in blockchain technologies.