A Platform for Deploying Smart Contracts
UBIQ is a decentralised platform which allows for the development and deployment of smart contracts and decentralised applications (Dapps). The UBIQ blockchain - which is a globally distributed ledger - is built upon an improved Ethereum codebase, allowing developers to automate thousands of tasks that are currently carried out by third party intermediaries. An example of a task is the listing of a house/apartment for rent or sale. Traditionally, the seller and the buyer would have to arrange a meeting where the contract is signed and the keys are handed over. The seller would have to trust that the buyer will adhere to the payment plan listed in the contract and if not, litigation would have to take place which could entail extortionate fees and the waste of valuable time. Secondly, the contract could be lost or covertly modified by either the buyer or the seller with bad intentions. In this case, It would be the buyer's word against the sellers. Alternatively, the seller could choose to hire a letting agent to deal with the handover of the keys and the signing of the contract. However, this incurs extra costs as the letting agent would have to be paid for their services. Smart contracts allow the automation of this complicated process. The seller would simply encode the agreements listed in the physical contract onto the UBIQ blockchain creating a smart contract. The seller would also deposit the digital access key to the apartment/house into the smart contract, the condition for release being the payment of 100,000 UBIQ tokens from the buyer. The exchange would occur instantly with the transaction and new ownership of the house recorded on the blockchain. There is no possibility of the contract being lost or modified as there are thousands of copies throughout the blockchain recorded on public ledgers. These ledgers are immutable and verified by general consensus. This is the power of smart contracts.
Enterprise Ready
UBIQ is a stable, enterprise-ready build of the Ethereum blockchain. Ethereum is still in its alpha-stages, as a result, the Ethereum blockchain is unstable and consists of many bugs and glitches. This is not an attractive proposition to businesses which require a fully working and stable model that can be immediately and reliably implemented with all of the bells and whistles. The solution is UBIQ, which offers a fully operational platform for the deployment of smart contracts and Dapps. This is the value proposition of UBIQ.
UBIQ attended 3 AI Fintech conferences in Nigeria, Toronto and Vancouver. Through these conferences, major players in the Fintech world are now aware of the value proposed by UBIQ. As the UBIQ team develop and attend more conferences, interest will continue to grow and more major companies will begin to realise the true potential of UBIQ; it is only a matter of time. The Ethereum team were present at none of these conferences, this reflects the fact that the Ethereum blockchain is still in its early alpha phase and that there is no stable and reliable working product to demonstrate.
UBIQ's Fusion Wallet
UBIQ have developed a desktop wallet called the fusion wallet. This wallet allows all of your UBIQ assets to be managed from one place. You can send and receive UBIQ tokens from the wallet, deploy smart contracts and create your own tokens. I must say that the fusion wallet is the best crypto wallet I have had the pleasure of using!
A Great Investment Opportunity
UBIQ currently holds the 43rd position on coinmarketcap.com with a total market cap of $85,000,000. In my humble opinion, UBIQ is grossly undervalued and it has the potential to reach the top 10 in terms of market cap within a few years. The current circulating supply of UBIQ is 37,000,000 coins compared to Ethereum's 92,000,000 coins. UBIQ is a coin with high utility and scarce supply, this can make it very valuable in the future when companies begin to adopt and realise the potential of UBIQ. Buying UBIQ now at $2.30 can be compared to buying Ethereum at the $6 mark (assuming that UBIQ's potential is recognised by the masses). I personally have a stake in UBIQ and I am excited to see how UBIQ develops!
Thank you for reading and please leave your comments below.
Thank you for this post. It helped me gain more understanding of the blockchain technology and what adds value to it. It went up since the original post, and I will invest in it as soon as I update my comment.
I just checked out their Github org and noticed that pretty much every Ubiq repo is a fork of Ethereum, some with not too many extra commits. Do you happen to know what makes Ubiq "stable" and "enterprise-ready"? Also, what bugs and glitches does it fix that Ethereum can't fix? I'm not trying to be critical, but just trying to do my due diligence before investing.
Nice post, thanks for sharing! What is your opinion about Stratis, Antshares, Lisk, Ardor, Ark?
I think Stratis has a lot of potential due to its adoption of the widely used C Sharp as its native programming language. Furthermore, Stratis is offering Blockchain as a Service (BaaS) which is a great feature as businesses can essentially expand their blockchain technology needs on demand via cloud computing. This eliminates the need to invest large amounts of capital in hardware and custom blockchain development. I personally hold a stake in Stratis and see a bright feature ahead! I dont hold a stake in any of the other coins you mentioned, but I'll put them on my research list. Ark smartbride technology sounds interesting!
I guess the first who can ty his ecosystem to a user friendly, supersimple and real problem solving app, will turn out to be the winner in the long run.
I agree and UBIQ is the closest to achieving this. You can deploy hundreds of custom smart contracts from their user-friendly Fusion wallet. They also have many pre-made contract templates for those who aren't savvy programmers.
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I agree and believe ubiq is a great oportunitty to invest, now it is 1 dollar, so i believe it is time to buy
You can use UBIQ with the add-on https://pyrus.ubiqsmart.com also with your browser.
Interesting blog. I was about to start a similair discussion. The quality coins are here to stay and it's like buying in at the S&P 500 50 years ago. Cryptos will fall and rise at a more rapit phase any investment market has ever seen. Just hold (literaly) and enjoy the ride. I was researching a way to do better investment analysis on the current cryptos. I was wondering if anyone of you uses: https://www.coincheckup.com For a complete crypto analysis on every single tradable crypto out there.
It's a nice fork of Ethereum. In terms of issuing tokens, it works well. Our placement token is issued on Ubiq, check this out: https://bettingwin.online