The UltraCoin was developed in 2014, by a team of experts focused on creating the digital currency that had the same acceptability as the cash currency. Thus, there is the strong focus on creating a supportive and large community. The promoters wanted the currency that offered more equitable access to resources, unlike current currencies that did not help achieve these goals. The currency employs proof of work as well as proof of stake mining.
The UltraCoin seeks to offer alternative currency to the currently popular ones, which are based on government regulations and banking systems. Businesses can receive payments using the UltraCoin tokens (UTC). Buyers can purchase services and goods from the businesses, using the UTC. The currency has the low transaction fee, and also, offers high transaction speed, when compared with other digital currencies. Users can browse through business listings, to find the right service or product. The marketplace offers a payment gateway that businesses can put on their website for accepting payments in UTC.
Users can purchase the tokens from exchanges. These include Cryptopia and other exchanges. Investors can buy the coins to earn the profit when the coin value improves and they sell the coin. In the meantime, they can store the coins in their wallet, link their wallet to the platform, and earn interest on the coins. Users may also use their CPU to mine the currency. UltraCoin offers many mining pools users can join. There are 100 million coins in total, of which 2% were offered at the pre-mining stage and are to be used for rewards.
The goal of UltraCoin is to offer an alternative to traditional currencies, which promoters feel do not offer fair resource distribution. The UltraCoin builds on the strengths of the blockchain. Superior transaction speed and lower transaction charges are some of the main highlights of using the currency. The currency can be mined as well as staked. Block time is just 60 seconds and each block earns users rewards. To keep coin supply stable, mining difficulty levels are adjusted every 10 blocks. Users looking for stable digital currency, which can be staked and mined, would want to consider the UltraCoin as one of the top choices. The wallet operates on major operating systems including Linux, Windows, and Mac. Features in the development stage currently include the paper wallet and block explorer. The UltraCoin is expected to make it easier to operate businesses in the future, enabling them to accept the digital currency as payments easily.
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