UMI

UMI is a decentralized payment blockchain network that utilizes an open source code to facilitate nearly instantaneous and cost-free transactions globally. The UMI cryptocurrency serves as the accounting unit within this network. UMI is a fully developed blockchain platform that supports the creation and execution of smart contracts. It operates on a unique Proof-of-Authority (PoA) consensus algorithm, where master nodes and validator nodes are responsible for network performance. UMI is a distinctive cryptocurrency issued via staking based on a smart contract, allowing network participants to potentially receive additional coins at a rate of up to 40% per month by simply holding them in their wallets.

The UMI blockchain is public, ensuring all transactions are transparent and cannot be forged or cancelled. Unlike many other cryptocurrencies that use Proof-of-Work (PoW) or Proof-of-Stake (PoS) consensus algorithms, UMI employs the Proof-of-Authority (PoA) technology. This technology enables almost instant transactions and safe network operation without commission costs. Master nodes generate new blocks and validator nodes support the network by checking the blocks for correctness and ruling out forgery. Any UMI user can launch a validator node, contributing to the network's decentralization, security, and reliability. The use of master nodes aims to increase the UMI network's bandwidth and transaction speed.

UMI aims to provide a platform for almost instant transactions without commissions, with a network bandwidth of up to 65,536 transactions per second. This aims to handle a higher volume of transactions per second compared to Bitcoin and traditional payment systems like VISA or Mastercard. UMI is a decentralized blockchain network that aims to protect against hacks, leaks, unauthorized changes, and other vulnerabilities. It also supports the creation and execution of smart contracts of any complexity. The unique Proof-of-Authority model with smart contract staking not only aims to enhance the security of the UMI network, but also may provide additional benefits for users.

UMI was created by an anonymous and completely independent development team. Similar to Bitcoin, the creators of UMI remain anonymous to ensure maximum decentralization of the network. There is no single entity that could potentially influence or harm the UMI network. The UMI network uses an improved version of the PoA technology, which relies on its advantages while also eliminating its drawbacks. Mining and forging have been replaced by a staking technology based on a smart contract, used to potentially reward users.