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UMI Top

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At the moment, the UMI code is written in 8 languages at once: GoLang, PHP, JavaScript / TypeScript, Python, Java, Swift, Object-C, C / C ++. For development, IDEs from JetBrains are used, which have built-in tools for checking code quality.

The UMI source code is available at the links:

- https://gitlab.com/umitop
- https://bitbucket.org/umitop
 
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UMI Top

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It often happens that some errors, for example, bugs in a mobile application, are directly related to dependence on someone else’s code. But bugs are the lesser evil that can happen.

For clarity, we will give a vivid example of the world-famous Copay crypto wallet, developed by BitPay. Due to the use of third-party libraries, one day a hole appeared in the wallet, allowing you to effortlessly steal bitcoins from users.

In UMI, there are practically no such dependencies, which means that problems in the code of other projects will forever remain problems of other projects. They will not penetrate our «abode» with you.

The issue of security has always been, is and will be a top priority for us, so we do not regret at all that we spent a lot of time and effort on creating an absolutely independent code. It was worth it.
 

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From an objective point of view, the UMI code is perfect. In this regard, we did our best, not allowing ourselves to relax and cheat in a single trifle.

- The UMI code is like a book, qualitatively divided into chapters, free of grammatical errors and syntactic oversights. It was read ten times and rechecked a hundred times, where every line is written with love.

- Well, as for the subjective point of view, it’s up to you to judge. The UMI network is completely transparent, the source code is open, so anyone can evaluate the quality from their subjective side.

- We’d love to hear your feedback and take note of your helpful advice. And for those who would like to see simple and straightforward metrics, we have added links to automated code review tools right in our repositories.

The UMI source code is available at the links:

📌 https://gitlab.com/umitop
📌 https://bitbucket.org/umitop
 

UMI Top

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New blocks in UMI are created very quickly, there are no commissions, the network scaling is almost unlimited.

Already in the test version, UMI operates at a speed of 65,535 transactions per second, and potentially it can increase to a million transactions (there are no technical restrictions for this).

Soon 65,535 transactions per second will be no longer in the test version, but in the main network!
 

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UMI cryptocurrency is 8 months old!

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Friends, today the UMI cryptocurrency is exactly 8 months old. Contrary to all skeptics and pessimists, our innovative coin shows simply colossal results. Let’s summarize the latest summary for today.

- More than 97,000 UMI-addresses and more than 76,000 addresses in staking structures are already registered in the UMI network. That is, over 17,000 addresses have been added over the month for each of these two positions. The total number of addresses at the moment is over 173,000.

- In total, almost 3,000,000 transactions and over 1,270,000 blocks were created on the network. The network is developing at a rapid pace, despite its youth.

- The liquidity of UMI continues to grow, and therefore – the cryptocurrency is becoming more solid. Now the order book for buying UMI on SIGEN.pro is over $ 12,500,000, which is 1.5 times (!) More than the amount that was fixed a month ago. And this is not even paying attention to the recent decline in the bitcoin rate. At the same time, the total amount of offers to buy a coin on the p2p platform is about $ 1,200,000. Accordingly, the total liquidity of UMI has already exceeded $ 13,700,000! Recall that you can independently track the liquidity of the coin at the link https://umi.top/liquidity

- The total trading volume for 24 hours on the exchange and p2p platform SIGEN.pro, as in the previous month, continues to confidently hold in the region of $ 400,000- $ 500,000. The demand for the coin remains stably high even after the final distribution of the initial issue. You can track the trading volume yourself by following the link https://umi.top/volumes

- The total number of existing UMI coins is over 51,000,000, of which more than 46,500,000 are staked. Thus, over 91% of all coins are staked, while only less than 9% are in free circulation.

- And finally, note that after the distribution of the initial emission, the UMI rate, as expected, began to grow and rose above $ 1. Today the coin is trading in the region of $ 1.10- $ 1.20, and a liquidity wall of more than 360 BTC successfully protects the rate from falling below $ 0.95.

UMI cryptocurrency continues to develop steadily, delighting with amazing results. Our coin continues to gain well-deserved popularity around the world due to its unsurpassed capabilities and the huge benefits it brings to people.

Once again, we congratulate all users on these wonderful achievements and thank you for your active participation in the development of UMI. It is you who are the pillar that powerfully supports our cryptocurrency and leads it step by step to tremendous success!

Yours sincerely, UMI team!
 

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For its time, bitcoin and other first generation cryptocurrencies were a real breakthrough. They showed that people can build an alternative financial system that is more advanced than traditional banking. And in this they do not need the help and permission of governments.

Over time, it became clear that PoW blockchains are too imperfect. They do not scale well, are slow and expensive, and cannot be programmed with smart contracts.

Today Bitcoin is one of the slowest cryptocurrencies in the world — it takes about 10 minutes to confirm a transaction. And the commissions can be higher than the transaction itself. Coins with these characteristics are not suitable for simultaneous use by millions of people. Therefore, bitcoin and early cryptocurrencies failed to become the new «money».

But UMI can really do it!
 

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UMI is high scalability of the first level blockchain

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Neither Bitcoin nor Ethereum managed to solve the problem of blockchain scaling. One of the options for solving it was the creation of a second blockchain layer, on top of the first level. This is a rather complex system that offloads the entire blockchain and allows you to process more transactions without changing the code of the main network. In fact: this is a new fast system working inside an old and slow one.

In the Bitcoin network, this solution was the implementation of the Lightning Network - a second layer that allows transactions in special payment channels outside the main network. The technology allows you to increase the speed of Bitcoin up to 7000 transactions and save on fees. However, it is very imperfect, difficult to use and often leads to loss of coins. Coins can only be sent online. Both the sender and the receiver must be online at all times. If the second one is unavailable, the coins will be returned or lost. Therefore, the Lightning Network is not yet suitable for mass use.

There are several second-level solutions in Ethereum: Connext, Counterfactua, Fuel Labs, OMG Network, Optimistic Rollup, Raiden, Synthetix, Plasma, TrueBit. The last two are the most elaborated. They allow not only conducting transactions, but also launching smart contracts bypassing the main layer. Alas, these solutions are also difficult to use and not suitable for mass use.

Second layer solutions promised a revolution, but failed to fix the shortcomings of the first blockchains.

UMI went the other way and managed to create a scalable blockchain of the first level, which is faster and more convenient than the second level in Bitcoin and Ethereum!
 

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Cryptomats are a useful and convenient tool. It is not suitable for everyone and is not needed in all cases. Users who are not very concerned about their own privacy and who have access to banking services can do without them.

But for those who value privacy, as well as owners of cryptocurrencies from developing countries and simply newcomers to the market, cryptomats can help out a lot. In any case, the more such devices work, the wider the adoption of cryptocurrencies will be.

We remind you that in the future there will be cryptomats supporting UMI!
 

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The authorities of many countries often say that cryptocurrencies should be banned, as they are supposedly an ideal tool for criminals. In fact: criminals are hundreds of times more likely to use cash and bank transfers, but no one thinks about banning them too?

Cryptocurrencies are not as convenient for criminals as they seem. This is an unnecessary intermediary link. They still have to cash out, and to do it anonymously is more and more difficult — it is much easier to receive cash by courier or accept a bank transfer through «their channels».

In fact, it is more difficult to track cash transactions than with open cryptocurrency, since information about transactions in the blockchain is available to everyone!
 

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Who are Institutional Investors?

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Institutional investors are companies that trade and invest in securities. These are large financial and brokerage firms, banks, pension and investment funds, asset managers, insurance companies.

Institutional players are one of the most important participants in the traditional stock market. They account for up to half of the volume of all trade. They usually own the largest shareholdings and have significant market influence.

In the first years of the existence of the crypto market, institutionalists were afraid to enter it. And this can be explained - digital assets were then too young and incomprehensible tool. It seemed to many that all these coins would soon disappear somewhere or the regulators would simply ban them.

Unlike ordinary people, institutions cannot just take and buy bitcoin. Their activities are strictly controlled by the state. They have to keep records, invest only in legal assets, and for trading they need their own infrastructure. But gradually all this appeared on the crypto market, and now institutional investors are beginning to actively invest in the cryptocurrency market, ensuring its development and growth.
 
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