Smart contracts and hybrid consensus are two exciting features that we have launched on the UB test net. Before launching it on the main net, we are conducting tests with the development team and we invite you to test it for yourselves.
In this tutorial, we will break down the process of deploying a smart contract on the UBTC test net.
UB smart contracts supports popular programming languages C#, Java, LUA, and Kotlin; unlike other smart contract features on the market, you will not need to learn a new programming language to use UB smart contracts. …
The decentralization aspect of the blockchain alleviates the need of any singular controlling authority and places the power in hands of all the members present in the blockchain network. The blockchain is a database that keeps the track of all the transactions taking place between the members of the network.
In traditional transaction systems, one single authority handles all transactions, including verifying the transactions and storing them in a database. This traditional model introduces a dependency on a central system as well as a security risk: in order to disrupt the complete system, including the database with account balances, bad…
In 2015 Ethereum was the first block chain to support (near Turing complete) smart contracts. In layman’s terms, a smart contracts is basically a small computer program that evaluates a set of logical rules (being the terms of the contract) and, based on that, can initiate transactions on a blockchain when predefined events happen. For example, they can be used to keep track of the flow of goods through a supply chain or cut out the middle men for taking / providing mortgages. Also, a common application that many new blockchain projects use, is the sale of tokens or coins…
As the cryptocurrency market thrives in the digital age, there are four characteristics that are pivotal for a digital currency to thrive.
- Decentralization: The concept of cryptocurrency on the blockchain is to remove any third-party control and return the power back to the primary members in the network.
- Privacy: As the term cryptocurrency suggests, the pseudonymity of the blockchain network is a huge draw for users and minimizes the risk of hacking or other invasions of privacy.
- Scalability: A cryptocurrency should not be restricted to providing just one service; it should be accessible and usable to a wide audience.
- Stability…
A blockchain is a digital ledger that records transactions that is shaking up the process of making financial transactions. As the name suggests, a blockchain is a database system which consists of long chains of storage blocks. This new decentralized system is shaking up the culture of making financial transactions. Here is short and simple summary of some benefits of blockchain.
A blockchain is pseudonymous.
The complete pseudonymity maintained throughout the blockchain network is one of the most prominent benefits of making transactions using the blockchain. Nodes on the blockchain record every transaction coming and going from every address. However…
What are smart contracts?
Nick Szabo, a cryptographer and a legal scholar, invented the concept of smart contracts in 1994. Szabo aimed to harness the power of a decentralized and distributed system into self-implementing contracts where the terms and conditions are embedded in a computer code that will be executed on the blockchain network.
Similar to traditional contracts, smart contracts are self-implementing contracts between a buyer and a supplier. These contracts avoid the requirement of a third party and let the buyer directly deal with the supplier saving time and money both. …
1. Sign in with your account and password on www.ub.com.
2. Select “Claim UBTC as other cryptocurrency holder”.
Disclaimer: Due to the complexity of wallet management, this tutorial is only for Official Hshare Wallet. We do not take any responsibility for third party wallets.
1. Sign in with your account and password on www.ub.com.
2. Select “Claim UBTC as other cryptocurrency holder”.
Currently, electronic funds transfer giant, Visa averages 2000 transactions per second (tps) and a peak of around 4000tps per day. Bitcoin, on the other hand, can handle around 7tps. This relatively tiny transaction speed is obviously an issue if you wish your currency to grow it’s user base. This is Bitcoin’s issue of scalability.
I’m sure many of you reading this will have experienced long wait times for Bitcoin transactions to process. A quick Google search will throw up anecdotal evidence of people waiting 2 or 3, and even up to 6 days for transactions complete.
A low amount of…
