it's never too late to join the team.

come say hi http://slack.ubiqsmart.com

That is correct. Get your miners ready!

After 6 months of public testing, the Ubiq network is ready for launch! We are excited to open up participation for all members in the blockchain development, mining and financial space.

January 28th 2017 will mark the inception of the new blockchain and transfer of value from the existing Jumbucks blockchain to the Ethereum based Ubiq blockchain. The new chain will bring about many new capabilities through smart contracts, giving us a far greater opportunity for lasting applications while still having the existing value and stability from an established 3 year old market.

The Ubiq development team is committed to providing the most stable, flexible and bug-free platform available for the development of enterprise level applications. This is accomplished through extensive observation, testing and improvements to the various blockchain technologies currently available.


Markets closed

On January 28th, 2017 at 12:01am PST the Jumbucks [JBS] market will be closed on exchanges.

Snapshot and Genesis Block creation

A snapshot of the Jumbucks blockchain will be taken with the balances recorded for every JBS address.  The Genesis Block will be created from claimed addresses.

Wallets will be created and the code will be published to Github.

Network Launch

On January 28th, 2017 at 12pm PST the Ubiq [UBQ] network will be launched.

Post Launch

The Ubiq market will be open on exchanges the following week.

Any unclaimed Ubiq will be placed into multi-sig address.  If you have already submitted via the claim form, please ensure you have all of the info required (keys and password) to import and unlock after swap. If need be, you can resubmit with the same JBS address, the latest verified submission will be used.


The old Jumbucks network will be considered developer deprecated and unsupported.


Ubiq is proud to be the first Ethereum fork which brings about consensus level changes in the form of brand new code.

The Flux Difficulty Algorithm is one of the innovations of the Ubiq network.  Prior to Ubiq there have been other Ethereum forks which were attacked as they did not have an adequate difficulty algorithm which was able to dynamically adjust to hash rate.

Below we can see the difficulty curve in the Ubiq network over the first 10,000 blocks with 3 distinct sections.


The first section represents the originally ported Digibyte Digishield algorithm which did not fare well at all on a large hashing network.  The second section represents the Digibyte Digishield algorithm with modified parameters which was an improvement but still not good enough.  The third section from block 8,000 onwards shows the Flux Difficulty Algorithm™ where we went back to the drawing board and designed a new solution.

The new codebase allows for difficulty retargeting every block using the Flux Difficulty Algorithm to achieve an 88 second block time average over time. The algorithm reacts to changes in hashrate each block by analyzing the timestamps of the previous 2 hours worth or blocks.

The addition of Exponentially Subjective Scoring is now an optional flag for services like exchanges and pools to calculate during any adverse network conditions including forks. This protection exponentially reduces the window a double spend can take place while also providing seamless consensus of nodes on the “longest” chain.

With our designed Monetary Policy, block rewards will start out at 8 and decrease by 1 yearly until it reaches a minimum of 1 UBQ per block.

In Ubiq we wanted to program in the option of staying with Proof of Work indefinitely should it prove to be viable long term.  There are many aspects we will consider in terms of viability such as overall health of the Proof of Work network, and coin distribution, but ultimately we foresee a future where Ubiq may run as a Proof of Work network forever.  With Ubiq we plan on running a Proof of Work network for a minimum of 1 year before considering and evaluating any switch to a Proof of Stake scheme.

This monetary policy and mining block rewards scheme is illustrated in the table below.


Further details and changes:

• Algorithm: Dagger Hashimoto
• Block Reward: 8 decreasing by 1 yearly until 1 UBQ per block
• Block Target: 88 seconds
• HTTP RPC server port: 8588
• Websocket RPC server port: 8589
• Network listening port: 30388
• Network ID: 88
• Chain ID: 8 (EIP 155 Replay Attack Protection compliant)
• Reduced rewards for included Uncle blocks
• Forked from the latest Geth 1.5 containing all the latest EIPs
• Removed code references to the DAO fork

Ubqminer: https://github.com/ubiq/ubqminer/releases

PhoenixMiner 4.0b+: https://bitcointalk.org/index.php?topic=2647654.msg48314178#msg48314178

TT-Miner: https://bitcointalk.org/index.php?topic=5025783.0

Nanominer: https://github.com/nanopool/nanominer/releases/tag/v1.0.0

The longer block times of Ubiq means the DAG size growth will be much slower, allowing graphics cards with 2GB RAM to mine for over 6 years.  In Ethereum 2GB graphics cards were obsolete a bit over a year later after launch as seen in the chart below.



Ubiq Pool.io - http://ubiqpool.io

CoinPool.eu - http://ubq.poolcoin.biz

Suprnova - https://ubiq.suprnova.cc

Mole-Pool - http://mole-pool.net

CoinMiners - https://ubiq.coin-miners.info

AikaPool - https://aikapool.com/ubiq/

Ubiq Pool Sexy - http://ubq.pool.sexy - BCT thread: https://bitcointalk.org/index.php?topic=1736308.0

PoolTo.Be - https://ubq.poolto.be

Minerpool.cc - http://ubq.minerpool.cc

Ubiq.cc - http://www.ubiq.cc/minerpool

Clona Network - http://clona.ru:3015

Minertopia.org - http://ubq.minertopia.org

Ubiq Pool.com - http://ubiqpool.com - BCT thread: https://bitcointalk.org/index.php?topic=1851011.0

Coinminer.space - http://ubiq.coinminer.space

HakoPool - https://ubiq.hakopool.com

EpicPool.Club - http://ubiq.epicpool.club

ŻET Technologies - https://ubq.zet-tech.eu

HODLPool - http://ubiq.hodlpool.com

Kwik Pool - https://ubq.kwikpool.party - BCT thread: https://bitcointalk.org/index.php?topic=2037265.0

MinerPool.net - http://ubiq.minerpool.net - BCT thread: https://bitcointalk.org/index.php?topic=2045574.0

Epool.io - https://ubq.epool.io

LowFeeMining.com - http://ubiq.lowfeemining.com


Fusion GUI wallet - https://github.com/ubiq/fusion/releases

Gubiq binaries available - https://github.com/ubiq/go-ubiq/releases/

Pyrus - https://pyrus.ubiqsmart.com - Open-Source & Client-Side Ubiq Wallet


Bittrex - https://bittrex.com/Market/Index?MarketName=BTC-UBQ

Litebit - https://www.litebit.eu/en/buy/ubiq

UPBit - https://upbit.com/exchange?code=CRIX.UPBIT.BTC-UBQ


Ubiqscan - https://ubiqscan.io

Ubiq.cc - http://www.ubiq.cc

Ubiq Explorer - https://ubiqexplorer.com/


Julian Yap - @jyap

Well experienced in building blockchain technology and Systems Engineering working with notable projects like Bittrex (over 100 coin code reviews), Blocktech and Decred. Julian has provided several key principles of design, networking and economics to the project.
 
Luke Williams - @iquidus

Joining the space in early 2012, Luke became well known within the blockchain community for building and providing resources and services. The creator of Iquidus Explorer, a blockchain search tool deployed for many ledgers in the industry. He is also the Technical Director for his company KryptoTech located in Spain.

Kris Hansen - @CoreRenewal

Along with bringing many relationships in the existing fintech space, Kris is a capable developer for a wide range of systems and languages. He is helping with several technologies and use cases for the project along with contributing to the blockchain codebase.

Alex Sterk - @block_talk

Appearing with blocktalk in early 2015, Alex has met and interviewed a host of notable people and projects in the  cryptocurrency industry. Examining them across many attributes but providing meaningful education for many across the space, Alex brings his networking and management skills as our community manager.


A road map of Ubiq’s full range of plans for 2017 will be coming soon!

Early focus will be on network stability, releasing the Fusion Wallet, and KryptoTech deploying their first token.

---

Ubiq is a blockchain platform which allows the creation and implementation of smart contracts and decentralized applications. Built upon a modified Ethereum codebase, Ubiq adds consensus level changes in the form of new code.  Ubiq acts as a large globally distributed ledger and supercomputer, which allows developers to create decentralized and automated solutions to thousands of tasks which today are carried out by third party intermediaries. The Ubiq development team is committed to providing the most stable, flexible and bug-free platform available for the development of enterprise applications.

Ubiq carries forward 3 years of value, growth and development from the JBS network. It is Fair Launch cryptocurrency with zero premine or ICO, and is traded on Bittrex.
 
Find out more information at Ubiqsmart.com.  Sign up to Ubiq Slack to be a part of a growing community of over 1,000 crypto enthusiasts and Ubiq fans!
 
Follow @UbiqSmart on Twitter for all the latest news and announcements!

---

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January 28th.. New ANN thread is coming Soon™.

Monetary Policy in Ubiq post:

https://bitcointalk.org/index.php?topic=1631210.msg17590755#msg17590755

Monetary Policy in Ubiq

One of the main defining aspects of Bitcoin is its monetary policy (also described as inflation control) and how it has programmed in block halvings roughly every 4 years.  This serves to incentivize early participation in the network and attempts to simulate scarcity and a diminishing supply.  Thus far this has worked out well for Bitcoin but there are concerns that this may not work out in future with incentivized rewards per block approaching 0.

Ethereum on the other hand was designed with different aspects in mind.  Their initial distribution was largely a premine as well as coins distributed through an ICO process.  60 million ETH went to the ICO buyers and 12 million were premined for the developers[1].  As such, the monetary policy during the Proof of Work period wasn't defined and we have the situation where a static 5 ETH is mined every 14 second block[2] (not including rewards for Uncles).  The promise here is that Ethereum would be moving to a Proof of Stake model where the coin inflation and incentive model for the network would change.

If we run some rough calculations, Block 0 generated on July 30th, 2015.  Current coin supply stands at 88,138,955.03 ETHER so roughly 16,138,955.0 ETHER has been mined via Proof of Work in the past 1.48 years.

Below is a table which outlines this relative inflation rate should Proof of Work continue forever (disregarding the switch to Proof of Stake and Difficulty Bomb which will slow block times).


Here we can see the criticisms of Ethereum where it is said to not implement a monetary policy as yearly coin supply inflation remains the same and is high.  The lack of monetary policy then also extends to Ethereum forks such as Ethereum Classic or Expanse which as of writing this have not implemented any monetary policy in code.

In Ubiq we wanted to program in the option of staying with Proof of Work indefinitely should it prove to be viable long term.  There are many aspects we will consider in terms of viability such as overall health of the Proof of Work network, coin distribution but ultimately we foresee a future where we may run as a Proof of Work network forever.  With Ubiq we plan on running a Proof of Work network for a minimum of 1 year before considering and evaluating any switching to a Proof of Stake scheme.

With our designed monetary policy, block rewards will start out at 8 and decrease by 1 yearly until it reaches a minimum of 1 UBQ per block.

This monetary policy is illustrated in the table below.


Here we can see that in year 8 onwards, approximately 358,364 UBQ are mined per year but this gives a slow tapering effect on the yearly inflation rate from 0.73% per year.  In essence, this is similar to the long term inflation scheme of Monero[3] which provides a constant "tail emission" of 0.6 XMR per 2-minutes block (0.87% yearly inflation around May 2022) as opposed to the infinite block halvings of Bitcoin.

Finally, it should be noted that we have successfully tested out the code related to this monetary policy in our Testnet[4].  We look forward to bringing you the first Ethereum fork with an implemented monetary policy in less than 1 weeks time!


References:

1. https://www.reddit.com/r/ethereum/comments/3i845f/what_is_the_formula_of_the_total_supply_of_ether/
2. https://etherscan.io/chart/blocktime
3. https://en.wikipedia.org/wiki/Monero_(cryptocurrency)#Features
4. https://bitcointalk.org/index.php?topic=1631210.msg17124126#msg17124126

This isn't an ICO. It's the date for the swap from the current Jumbucks network to the new Ubiq network. The Ubiq network will also be launched on that date.

More details here:

https://bitcointalk.org/index.php?topic=1631210.0

A new ANN thread will be posted shortly as well.

Thanks.

Who's excited? Preparing a press release and a new ANN...

Who's excited? Preparing a press release and a new ANN...

Maybe you live on another planet. There's hardly any independent ETH forks.

This has been under heavy testing since August.

Ubiq has one of the most active communities in crypto.

Main network launch and swap

Looking to set a date next month bruv.


Other updates

EIP155 (replay protection)

Yes!

Since Ubiq will run of of the forked Geth 1.5.x it features Ethereum hard fork No. 4 containing EIP155 (replay protection)! There will be no replay attacks!

Ubiq will launch with a unique ChainID of 8 to conform with EIP155 (replay protection).

Slack

The Slack sign up was taken down around Thanksgiving. Here is the New Slack sign up link. Over 700 registered! http://slack.ubiqsmart.com

Now with recaptcha and that "community guidelines" checkbox.

Main network launch and swap

Looking to set a date next month bruv.


Other updates

EIP155 (replay protection)

Yes!

Since Ubiq will run of of the forked Geth 1.5.x it features Ethereum hard fork No. 4 containing EIP155 (replay protection)! There will be no replay attacks!

Ubiq will launch with a unique ChainID of 8 to conform with EIP155 (replay protection).

Slack

The Slack sign up was taken down around Thanksgiving. Here is the New Slack sign up link. Over 700 registered! http://slack.ubiqsmart.com

Now with recaptcha and that "community guidelines" checkbox.

Final Testnet was launched the other night.

It is ready for testing: https://github.com/ubiq/go-ubiq/releases/tag/v1.5.4-BETA

Successfully transitioning from block 1000 to block 1001 with a different reward.

Final Testnet was launched the other night.

It is ready for testing: https://github.com/ubiq/go-ubiq/releases/tag/v1.5.4-BETA

Successfully transitioning from block 1000 to block 1001 with a different reward.

Planning to release a new Testnet around < 24 hrs from now. There will be new binaries.

This is also planned to be the final Testnet release so consider it a final Beta release as well

Main changes are:

• Based on the latest geth 1.5.x
• Some minor code clean up and changes.
• Now known as gubiq (instead of gjbsee). Repo link: https://github.com/ubiq/go-ubiq/
• Live testing of monetary policy block rewards (this is opposed to Ethereum and other forks which have a fixed block reward). For now this steps down from 8 to 5 in increments of 1000 blocks. This will be modified in the main network. so in Testnet:
  
  • blocks 1-1000 = 8 UBQ
  • blocks 1001-2000 = 7 UBQ
  • blocks 2001-3000 = 6 UBQ
  • blocks 3001 onwards = 5 UBQ
• I ran some tests last night and things look good.

Some log lines:


Started porting some changes to a mining pool as well:

https://github.com/ubiq/open-ethereum-pool/commit/d38fd5adbb927551e4a1065105d7d5844d56f9fb

Planning to release a new Testnet around < 24 hrs from now. There will be new binaries.

This is also planned to be the final Testnet release so consider it a final Beta release as well

Main changes are:

• Based on the latest geth 1.5.x
• Some minor code clean up and changes.
• Now known as gubiq (instead of gjbsee). Repo link: https://github.com/ubiq/go-ubiq/
• Live testing of monetary policy block rewards (this is opposed to Ethereum and other forks which have a fixed block reward). For now this steps down from 8 to 5 in increments of 1000 blocks. This will be modified in the main network. so in Testnet:
  
  • blocks 1-1000 = 8 UBQ
  • blocks 1001-2000 = 7 UBQ
  • blocks 2001-3000 = 6 UBQ
  • blocks 3001 onwards = 5 UBQ
• I ran some tests last night and things look good.

Some log lines:


Started porting some changes to a mining pool as well:

https://github.com/ubiq/open-ethereum-pool/commit/d38fd5adbb927551e4a1065105d7d5844d56f9fb

Mentioned a few days ago in Slack:

quick update on development.
 - Geth 1.5 is out with some new features. I'll look to port Ubiq to use this codebase.
 - Going to take a look at implementing some monetary policy for mining.
 - ETH hard fork is in 4.7 days. Going to observe that goes OK with no issues.
 - Schedule launch and other items.

Mentioned a few days ago in Slack:

quick update on development.
 - Geth 1.5 is out with some new features. I'll look to port Ubiq to use this codebase.
 - Going to take a look at implementing some monetary policy for mining.
 - ETH hard fork is in 4.7 days. Going to observe that goes OK with no issues.
 - Schedule launch and other items.