What is Ubiq?
Ubiq is a fork of Ethereum with an upgraded code, and they claim that other forks of Etherem have not had "..an adequate difficulty algorithm which was able to dynamically adjust to hash rate."
This upgrade code allows Ubiq to be better prepared for attacks, for example with things like "The Dao" hack.
Which obviously was a nightmare for Ethereum, which ended up causing Ethereum to hard fork, leaving the original Ethereum code as Ethereum Classic!
Now Ubiq offers the same features as Ethereum, which they mention here.
Ubiq is a decentralized platform which allows the creation and implementation of smart contracts and decentralized applications. Built upon an improved Ethereum codebase, the Ubiq blockchain acts as a large globally distributed ledger and supercomputer, allowing developers to create decentralized and automated solutions to thousands of tasks which today are carried out by third party intermediaries.
https://ubiqsmart.com/
So basically they will be able to offer smart contracts and automated solutions for things like:
- Buying real estate
- Renting items or equipment (even smart cars)
- Medical history
- Voting and Government
- And anything that requires basically an "agreement" today!
Conclusion
So even though it sounds like Ubiq has built a great technology and platform, they do still have to compete with mega-giant Ethereum.
But I do think that people will always look for better and cheaper ways to transact.. so there is no way to know what the future holds!
Thanks for checking out my post, and if you want to learn more check out Ubiq's website.
Image Source: twitter.com/ubiqsmart
Website: https://ubiqsmart.com/
Disclaimer: All of my posts are for entertainment purposes only, and are only my opinions. This is not investment advice. Please do your own research before investing in anything.
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