UMI (Decentralized Monetary Instrument): Instant Transfers and Smart Contracts
UMI – is a universal monetary instrument with an open-source code that works as an instant payment system and a platform for launching smart contracts of any complexity, including DeFi protocols. The project has a unique and user-friendly smart contract staking technology that helps to effectively integrate new participants in the ecosystem.
UMI- Fast and Free Transfers
UMI is based on its own blockchain, which is lacking the disadvantages of other cryptocurrency systems. The ecosystem operates on a Proof-of-Authority (PoA) consensus, which allows the network to execute transactions as quickly as possible. All transfers are validated by dedicated master nodes, which operate at the highest levels of speed and bandwidth. This type of architecture protects it from attacks that can affect blockchains of Bitcoin, Ethereum, and other cryptocurrencies, including the so-called 51% attack.
“On the basis of the UMI ecosystem, you can create many different projects – financial, trading, logistic-type. At the same time, the UMI blockchain, unlike other popular platforms, can easily keep up with such a load,” – says Dmitry Kryshtal, the project ambassador.
“UMI can be easily integrated into online stores, sales chain tracking and accounting programs, gambling sites and gaming merchandise markets, crowdfunding and charity platforms, and many other services.”
The UMI network is easily scalable and already executes up to 4500 operations per second, thanks to its high-tech architecture. In the future, after the planned blockchain update the capacity of the network will exceed 10,000 tx /. Transfers are instant, with no commissions or hidden fees.
Staking Without Limits
Generation of new UMI coins is easy and simple, thanks to staking on a smart contract, – all you need is a basic knowledge of PC or smartphone. Users don’t need any computing power, no need to run nodes or other complex programs. The technology implies automated reward payments for keeping coins in the wallet 24/7. Meanwhile, coins are not blocked – they can be used, even if they are engaged in staking. The rewards for participation in staking pools range from 5% to 40% of the user’s wallet balance per month. The higher the total number of coins in the pool, the higher is the reward.
“UMI allows coin holders to maintain complete control over assets. Even during the staking, coins are sent to the holder’s personal address within the structure. Neither the creator of the structure nor its other members have access to them, ”emphasizes Dmitry Kryshtal, the project ambassador.
Unlike many other crypto projects, the UMI team uses the income from selling the coins to purchase more UMI on the main trading platform SIGEN.pro. This provides high liquidity and supports the exchange rate of the coin. By now the order book for UMI purchases has already exceeded $ 800,000. This means that UMI holders can be sure that, if necessary, they will sell coins at the current rate without delay. In October, the liquidity pool is planned to be increased to $ 1 million.
During the four months after the launch of the main network, 54,000 unique UMI addresses were registered in the blockchain, with the number of active staking participants exceeding 40,000. Every day, users of the ecosystem conduct transactions worth $ 300,000, and the total volume of cryptocurrency trades is more than $ 100,000 per day.
You can find all the latest information about the UMI project in their blog: https://blog.umi.top/ru/