No backing is when a currency has no real physical value, not tied to gold, silver, assets, business or business profits. This means that this currency has the potential to go to 0. The price is basically set by how people feel about this currency, not by a % of the returns or holdings in a vault.
Backing will be the future of Crypto.
Joke name is our fun way of summarizing a coin or token.
Screenshot from Reddit
Ubiq has a strong network and very few issues. The team promises consistency and stability and with that they have followed through.
Ubiq has made its space in the crypto scene known with new tokens being signed to the network we could see Ubiq grow as stability in the crypto world is something that is very hard to come by.
Ubiq have increased the block times from 60 seconds to 88 seconds. This solves the problem of Ubiq is an Ethereum clone built of the 1.5.8 Ethereum code that are created under such circumstances.
The Flux Difficulty Algorithm is much better at maintaining the 88 second block time than it’s original Ethereum code base.
This is not really a problem that Ubiq solve as their are a number of coins that don’t care about the Virtual Memory of a Graphics card. However it can work to the benefit of Ubiq as Ethereums DAG file continues to increase in size, older graphics cards will drop off. Miners who own redundant Ethereum mining graphic cards will most likely turn to Ubiq an alternative.
The orphan blocks are a byproduct of Ethereum’s network and are generated when a miner has solved its own work before receiving other solved work from other miners. Ethereum have created uncle blocks, This is a work around that allow such blocks to still be included in the chain. Ubiq work around this need for uncle blocks by increasing the block time to 88 seconds.
Ubiq at its core is just an Ethereum clone, It is geared towards miners slightly more than Ethereum but it doesn’t offer more to the end user than Ethereum does.
