United Bitcoin May Be the Most Controversial Fork to Date
On December 12, the famous developer Jeff Garzik launched a fork based on Bitcoin Core (BTC) called United Bitcoin (UBTC) after the failure of Segwit2x. At the height of block 498,777 the snapshot took place, and the UBTC network started just like the rest of the existing forks, but claiming the chips is much more complicated than one thinks.
UBTC created by Jeff Garzik, his blockchain partner, Bloq, president Matthew Roszak, and Songxiu Hua of Bitbank Group, which plans to create a currency system. credit related to various fiduciary currencies A native intelligent contract feature The entire network is modeled after the bitcoin core blockchain before December 12, and all active portfolio holders can receive the UBTC at a rate of 1: 1 Inactive portfolios will be donated to the UB Foundation to support blockchain's innovative development.
In recent weeks, the UBTC team has made videos detailing the goals of its project to be a serious cryptocurrency competitor. A special documentary shows Garzik describing why he thinks the UBTC can be a digital asset that engages and unites to the whole ecosystem of cryptocurrency. "If I could start with a clean slate what technologies would I include?" Garzik asks an audience during the video. Matthew Roszak says that United Bitcoin will encompass three very important aspects of technology, community and tokenomics by building on intersectoral innovation.
Only one in two minor controls 70% of the hash of the network
UBTC has its own complete wallet client for Linux, Windows and Macintosh operating systems and the source code is available for review. According to the distribution repository, there will also be a light client version soon. There are three other portfolios that support the UBTC protocol. In terms of trade, most of them are based in Asia, and a vast majority of them are unknown and trade very little trading volume outside the Okex exchange. At the moment, according to Coinmarketcap's statistics, a UBTC is worth 82 USD.
Verification of Required Identity and Claiming Inactive Addresses: The United Bitcoin is the Most Controversial Fork So Far
The most controversial part of the project is the automatic removal feature which basically means that a bitcoin holder has to give up some form of identification to get UBTC. To start using UBTC, a user must provide a valid email address and a mobile phone number. After this process, the filer must have a valid bitcoin address to receive the 1: 1 distribution. Another controversial issue with the UBTC is the Foundation's claim of "unused addresses", which means that after For a while, inactive addresses will be used for future development. By the time the team added a "grace period" that extended the deadline so that bitcoin holders could claim their UBTC.
Due to the requirements of type "KYC" and the fact that the development team will claim the inactive addresses of Satoshi Nakamoto and many whales the UBTC is l & rsquo; One of the most vexed bitcoin forks. date. These two tendentious questions and the fact that the network has very few infrastructures can have a hard time winning the crypto-community that he hopes to progress.
What do you think of the UBTC project? Do you want to claim these release tokens knowing that you need to link your identity to the platform? What do you think of the development team that claims inactive addresses? Tell us what you think of this project in the comments below.
Images via Pixabay, United Bitcoin archives and website.
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