Ubiq describes itself as an EVM compatible Proof of Work blockchain that supports tokens, DApps, and smart contracts. According to the team, it was launched as a permissionless, non-ICO/premine network maintained voluntarily by its global community of developers and community.
Apart from being backwards compatible with the EVM ecosystem, Ubiq also features a distinct and predictable monetary policy, on-chain governance via the Escher system, and its proprietary PoW hashing algorithm called “Ubqhash” (along with its ‘Flux difficulty algorithm’).
UBQ is intended to be the value token of the network and acts as gas to facilitate token transfers and contract execution. Ubiq strives to maintain steady and cautious blockchain development focused toward Enterprise applications.
How do I buy cryptocurrency?
While some cryptocurrencies, including bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoin or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as bitcoin or ethereum.
Coinbase is one popular cryptocurrency trading exchange where you can create both a wallet and buy and sell bitcoin and other cryptocurrencies.