[UMI] UMI — Universal Money Instrument

[UMI Top Eng]

MLM network marketing in staking is an effective approach to UMI development

- MLM marketing strategy assumes a bonus program within the community. This approach to development shows an extremely effective result, since it motivates users to attract newcomers, receiving additional rewards for this.

-  Vivid examples of the effectiveness of MLM strategies are the Binance and Gemini crypto exchanges. These two giants of the crypto industry use a referral program to attract newcomers and get rewarded for it. The result is clear - these are some of the most successful crypto trading platforms on the planet.

- We have approached this issue as non-standard as possible. Instead of somehow integrating the bonus program into the UMI network, we have developed a smart contract that allows users to unite into communities themselves and create staking structures in which various MLM strategies can be applied for every taste and color.

- At the moment, the structure of one of our partners - ROY Club - implies a 9-level bonus program, due to which not only the ROY Club itself is successfully promoted, but the entire UMI network. In the future, alternative structures will appear, which, thanks to the flexibility of a smart contract, will be able to create a different bonus system and thereby attract a new audience. All this will have a positive effect on the development and popularization of our cryptocurrency.

As we wrote in our Whitepaper: “MLM is one of the most effective ways to promote crypto technologies, since it allows you to recruit an audience that will use the cryptocurrency, and not just play on its course”

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[UMI Top Eng]

- From an ideological point of view, the UMI team cooperates only with those partners who set themselves the goal of improving the world, protecting nature and caring for the environment.

- It was this aspect that became one of the key ones when deciding on partnership with ROY Club. We are confident that our cooperation will be productive and will help make this world a better place.

- Join and invite all your friends — create new UMI coins with eco-friendly staking and save the planet with us!

[UMI Top Eng]

UMI Now Has Its Own Blog!
 
Dear friends! We're keen to share yet another good news with you. This time it's related to the social aspect of growth of our cryptocurrency! 
 
Since UMI is an independent decentralized coin, we decided it should also be independent in terms of communication between the UMI Team and the network users — that is you. This is why we launched our own blog — it's more convenient than Medium where we used to publish our articles.
 
What are the benefits?
 
- Our own blog will help us grow faster online as, among other things, it'll be indexed by search engines, such as Yandex, Google and others. It means more and more people around the world will know about us.
 
- Our blog has a nice interface and rich functionality: it's easy to read, like and share articles with no registration — we're always deeply interested in convenience of our users.
 
- With our own blog we'll be truly independent and confident we'll always be able to express our views without restriction. This is of utmost importance to us.
 
We're interested in high-quality content, we always try to keep you happy with our useful and interesting materials and make a point of this. Our own blog is a new chapter in UMI's story!
 
Follow the link to access our blog: https://blog.umi.top
 
We've already started to post all our longreads that used to be on our Medium page, and we'll publish new ones, too. Visit our blog, read articles, like and share them with your friends. Welcome!
 
Congratulations on the good news! Yours truly, the UMI Team!

[UMI Top Eng]

Imagine for a moment that our UMI cryptocurrency is a living person, a girl. Let’s see what kind of character it would be according to the horoscope, and if these predictions coincide with reality.

Horoscope: Yumi is a Japanese female name that carries a special energy charge. Literally translated, it means «Useful beauty» and is written with this symbol — 弓.

Reality: About the energy charge — right here right to the very point. Our UMI is simply an inexhaustible charge of energy aimed at creation. It contains endless potential that can change the future of the whole world for the better.

[UMI Top Eng]

Successful translation to Indonesian language!

Friends, we are glad to announce that we have translated the entire UMI infrastructure into Indonesian language.

Now available in Indonesian

- The whole UMI website, including the wallet and blockchain;

- Whitepaper and all other documentation;

- Our social media;

- UMI mobile app. 

Moreover, our partners — ROY Club and the trading platform SIGEN. pro, have also fully translated their resources to Indonesian. Their websites have already been translated, but on top of that they have also localized all the infrastructure. From now on, Indonesian also available in:

- SIGEN. pro mobile app;

- ROY Assistant;

- ROY School for Beginners.

Full Indonesian translation is a new stage in the development of UMI, ROY Club and SIGE[Suspicious link removed]o. Together with our partners we have already started to directly enter the Indonesian market, which will be the beginning of the swift expansion of UMI around the world!

From now on, all members of our community from Indonesia will be able to enjoy all the features of UMI, ROY Club and SIGE[Suspicious link removed]o as comfortably as possible. Meanwhile, the leaders of the ROY Club and other UMI members will be able to easily attract new partners from Indonesia: building up the power of their communities, getting awesome bonuses and actively spreading the idea of our cryptocurrency to the public. Don’t hesitate and get started right now. We count on you and believe in you!

With respect, the UMI team!

P.S. Also note that the UMI translation on Indonesian language was included in our official goals https://blog.umi.top/en/umi-official-plans-for-the-future/ and we have successfully implemented it. The same will happen with all our other goals!

[UMI Top Eng]

Let’s pretend that UMI is a person. What astrologers say about the character traits of girls named Yumi?

In general, the picture is as follows:

-  Yumi is very welcoming and calm when communicating with others. She is energetic and friendly, always ready to help those in need. Yumi strives to constantly reach new frontiers, but success for her does not become a reason for pride — it is very important for her to stay in good relations with everyone and give joy.

- In turn, those around him appreciate Yumi for an objective view of things, kindness, caring, striving to resolve matters peacefully, finding compromises. She loves constancy, easily yields, in very rare cases shows aggression and harshness, even if she is frankly forced to do so.

[UMI Top Eng]

UMI Desktop Wallet (Node) to Be Released in Early 2021!

Dear friends! Some time ago we announced we had started to develop an easy-to-use UMI Desktop Wallet that would also operate as a fully featured validator node, i. e. would download the blockchain and support the network. However, due to a shift in priorities for our road map, the date of desktop node release was postponed to early 2021.

1. We’re now making a major effort to steeply increase our network capacity. Our goal is 10,000 transactions per second. To achieve this, we’re now optimizing master node operation and prepping our servers.

2. We’re also giving full throttle to the preparations for implementing a “reserve” PoS algorithm. It’s really putting us behind in terms of development and testing. Even more so since desktop nodes are supposed to support PoS. 

Thus, we’ve postponed the date of Desktop Wallet release since we’re focusing on other important issues at the moment. We need to resolve these issues before we release the Wallet.

We also want to give you some specifics regarding node operation since we regularly receive questions about this:

- The key point is that you don’t have to wait for the Desktop Wallet release to join fully featured staking. The smart contract allows you to generate new UMI coins without launching a fully featured node. All you need to do is join one of our staking structures — ROY Club or ISP Club.

- Our nodes generates near-zero load so you don’t need powerful equipment to launch it — it’ll operate on any modern PC and/or even smartphone. Yeah, that’s right, you heard us right — we’re planning to release a fully featured validator node for mobile devices which no other cryptocurrency has.

- For those of you who are interested in details of the load issue, we’re happy to go deeper into technicalities: in the validator mode, the node itself generates near-zero load while server power is mostly spent on PostgreSQL database. The reason for this is that our very first node release was designed to meet crypto exchange requirements which is exactly why we had chosen PostgreSQL as the main engine as it’s one of the best and most popular databases. We’re working to optimize this, squeezing max capacity out of both the node and PostgreSQL, but PostgreSQL settings are not optimal by default. Database settings are the responsibility of database admins while we cannot influence them in any way. Thus, capacity mostly depends on your DBA and their ability to optimize server operation to meet PostgreSQL load requirements. The desktop node will use the NoSQL database which is similar to databases used by Bitcoin and Ethereum, but also better and faster. We will provide you with the details of system requirements after optimization is completed.

Finally, some good news: we’re also actively updating the developer.umi.top portal. Our technical writers are preparing a series of detailed articles on network operation, consensus algorithms and how the backbone network is organized. You’ll soon see a lot of interesting stuff there.

Sincerely yours, UMI Team!

[UMI Top Eng]

Why is UMI a coin?

1. UMI has a unique source code and its own blockchain, like any other full-fledged cryptocurrency. It is a blockchain platform developed from scratch that can create and execute smart contracts, based on master nodes and a unique Proof-of-Authority model.

2. UMI works in a decentralized manner, does not "parasitize" on anyone, does not depend on anyone, does not obey other people's rules, and all transactions take place within its own network. Moreover, UMI itself is capable of issuing tokens.

3. UMI is a multifunctional cryptocurrency, full-fledged "digital money" that can be "mined" by staking up to 40% per month. And without powerful equipment and without harm to the environment.

4. UMI can be used not only as payment for goods and services, but also in various spheres of human activity. And this is not only theory, but also practice. We remind you that the structure of the ISP Club develops and issues plastic cards, thanks to which it will be possible to pay UMI from almost anywhere in the world in all stores where there is a bank terminal. Moreover, the cards will allow you to convert UMI into fiat money and withdraw it from ordinary ATMs at any time.

We are starting a new digital era with you, and anyone can jump on our train right now. Join us. UMI is a confident step into the future. Let's make it together!

[UMI Top Eng]

Currently, less than 0,001% of the total network potential is used. The UMI network is capable of withstanding hundreds of thousands of times higher load than today, it has a huge power reserve.

Moreover, the ability to scale gives UMI the ability to always keep up with the times. The UMI code ensures the safe implementation of any updates — the network can be easily modified and scaled with new high-tech solutions.

This means that no congestion in the form of a queue of transactions will ever become a problem for us. All payments will be processed quickly and commission-free. Always.

[UMI Top Eng]

UMI is a progressive cryptocurrency that can change the world!

- People used to draw cloudless perspectives to pagers, faxes and landlines, but where are they now? They were supplanted by smartphones and the massive Internet, in which no one believed at first. New technologies suddenly appear in our world and change it beyond recognition. They replace the old - what everyone is used to - with a new and more convenient one. What is best.

- Even 10 years ago, people believed in the development of banking technologies, but unexpectedly for everyone, Bitcoin appeared, which turned the perception of humanity about financial payments. It turned out that every person on the planet can make payments without intermediaries and create new digital money on their own. Yes, Bitcoin is not perfect, but it is used by millions of people around the world. And this figure is growing rapidly every day.

- And now it's the turn of UMI - a new generation progressive cryptocurrency. She is able to lead the world to a completely different financial relationship - decentralized, which means honest and fair. And we, having joined UMI, are already building just such a relationship. The future depends on us!

[UMI Top Eng]

Our task is to act exclusively in the legal field. It is important that both people and authorities understand that UMI is not some kind of black market product, but a completely legal instrument.

Therefore, we are working to obtain a legal document on the legalization of UMI cryptocurrency in the European Union, confirming that UMI is a fully open source decentralized payment system, and not a security, security token, utility token or something else… This will open up new possibilities for UMI use and integrations. Next, we plan to deal with the issue of cryptocurrency legalization in other jurisdictions.

[UMI Top Eng]

There are two most popular directions in the crypto industry now:

Staking that works in cryptocurrencies on PoS. It is also called forging or PoS mining. In fact, this is an analogue of mining that does not require powerful equipment. Traditional mining, by the way, is gradually fading into the background.

Decentralized «chips» — various smart contracts, where people cannot influence the source code, change conditions, chances, and so on.

Therefore, our team decided to create such a unique system as staking on a smart contract. This allowed us to combine two popular directions, and also made it possible to use faster and more secure PoA instead of the PoS model. At UMI, staking works exclusively on a smart contract. We remind you that you can familiarize yourself with the conditions and principles of its operation in our Whitepaper.

[UMI Top Eng]

We are planning, together with partners from the ISP Club, to issue crypto-cards, which are already being actively developed. These will be classic VISA debit cards that you can hold UMI on. Thanks to the cards, UMI can be used to pay at the nearest store or cash out cryptocurrency at a nearby ATM.

The functionality will work with conventional bank terminals and ATMs — where VISA is accepted, UMI will be accepted there. The card can be connected to Apple Pay and other similar services. You can buy a TV, a table or a loaf of bread for UMI. Anything.

In general, using UMI tomorrow will be no less easy, convenient and familiar than using a bank today. But even this is not the most interesting thing. The main beauty of UMI cards is that the coins in the account are staked. Thanks to this, the balance on your VISA card will constantly grow — up to 40% per month. No bank has ever provided such an opportunity, and it is very, very, very unlikely that it ever will.

[UMI Top Eng]

UMI staking is an analogue of an unconditional basic income for everyone!

- Let's allow ourselves a lyrical digression. You know, recently the Finnish authorities conducted a very interesting experiment - they introduced an unconditional basic income for 2000 unemployed and paid them 560 euros just like that. For the fact that they are citizens of this country.

- The idea is that it doesn't matter whether a person works or not - he gets money, which is enough for him to “eat” and to cover other basic needs. If a person gets a job, he already receives additional income, which he can spend on travel, large purchases, and so on. Anything you like.

- Although the experiment did not improve the situation with unemployment in the country, its result was assessed as positive. To quote: “Income recipients were more satisfied with their lives and experienced less mental stress than a control group that did not receive unconditional money. They also had a more positive perception of their economic well-being."

- This is something we are striving for with staking. So that people are constantly generating new UMI coins for themselves, which can be used at their own discretion.

- We believe that this is a model of a healthy society where you can live happily and not be afraid that tomorrow you will be left with nothing. The Finnish authorities have already completed the experiment. But we are rediscovering it, and not only for Finland, but for the whole world. Thanks to staking, anyone can start receiving a kind of analogue of an unconditional basic income, only not in the national currency, but in the UMI cryptocurrency. But she's also worth something.

[UMI Top Eng]

Technical tasks of UMI for the near future

We present our short roadmap (roadmap) for the nearest technical tasks:

- Desktop wallet with a full-fledged node;

- Detailed technical documentation and guides in the “How To” style with instructions for installing, running, configuring, updating wallets and nodes in text and video formats;

- Development and implementation of PoS consensus;

- HD-wallet integration;

- Creation of libraries to support all popular languages ​​and platforms for easy integration with businesses;

- Integration of hardware wallets (Trezor, Ledger and so on);

- Integration of accounting systems;

- Special version of the node for Windows with MS-SQL support and 1C integration;

- Development of plastic cards and terminals with NFC support;

- Creation of libraries for mobile devices with support for payment via NFC through the terminal;

- Side-chain service: comments on transactions;

- Side-chain service: sending UMI by email address, Telegram login, nickname, and so on;

- Side-chain service: internal messenger with support for pictures and various features. Analogue of Telegram, Viber and so on;

- Development and maintenance of a developer blog with technical articles for developers;

- Creation of convenient technical support services in Telegram, Slack, Stack Overflow;

- Implementation of tools for convenient collection and processing of feedback (feedback) from users.

- Development of new smart contracts.

 Naturally, this is not a definitive list. Considering all of the above, we still have many tasks that need to be implemented from a technical point of view. These are only primary goals, which, however, can be changed and adjusted depending on the circumstances.

[UMI Top Eng]

The initial UMI issue is fully distributed!

Dear users! A historical and very important event happened today

We have fully distributed the entire initial ussue of 18,000,000 UMI:

- We have 0 coins left on our genesis address:
https://blockchain.umi.top/address/umi1funq869de06x8tdfth0hs5z8v37ral3yyalmuvj7j0z94rtxcaxq289cf9.

- There are no more sales offers created by us on behalf of SIGEN. pro and Crypto-by-Card.

Thus, ALL the coins created at the start are successfully distributed to more than 81,000 (according to the number of addresses https://blockchain.umi.top/addresses ) users all over the world.

From this moment on, the UMI team stops holding the price from rising and puts the coin completely in the hands of the users. It's up to you to decide, how many coins will be sold and when. And you decide how much UMI is going to be worth tomorrow

At the same time, we leave all BTC in the Depth of Market at SIGEN. pro. They are set to buy UMI at $0.95

We’re proud of the community and infrastructure we’ve built. And we’re certain that this is just a tiny fraction of the achievements that we can accomplish. There’s great success ahead of us all over the planet. All of this is just the beginning of a glorious journey!

Your UMI team!

[UMI Top Eng]

DeFi is a promising cryptocurrency sector that can bring huge benefits to the world. But while this market is too imperfect, and looking at it from the point of view of benefits is still very risky.

Today it is much safer to multiply cryptocurrency using UMI staking

Our cryptocurrency offers extremely generous conditions for this. Already, staking brings up to 30% per month, and in the future — up to 40%. A reliable and time-tested smart contract for staking in the UMI network protects users from fraudsters, and the unique network architecture and economic model of the project save them from inflation.

In addition, UMI is devoid of the main disadvantages of Ethereum and other first generation cryptocurrencies. UMI has high bandwidth, no fees and no scaling issues. The future belongs to UMI!

[UMI Top Eng]

For many DeFi players, immediate profit is more important than security. For UMI, safety comes first.

We are already providing complete transparency — the source code of the network is available in the public domain.

For all operations within DeFi, including for withdrawing coins, you need to pay very large commissions, which continue to grow. They can be charged not only by the network, but also by the smart contracts themselves. Sometimes commissions «eat up» up to half of the amount.

DeFi is now only for the rich, and UMI has no commissions at all. Except for those charged by the staking structures themselves. But in fairness — these commissions fight off in a couple of weeks and go towards the payment of MLM bonuses that contribute to the development of structures.

[UMI Top Eng]

At the moment, the UMI code is written in 8 languages at once: GoLang, PHP, JavaScript / TypeScript, Python, Java, Swift, Object-C, C / C ++. For development, IDEs from JetBrains are used, which have built-in tools for checking code quality.

The UMI source code is available at the links:

- https://gitlab.com/umitop
- https://bitbucket.org/umitop

[UMI Top Eng]

It often happens that some errors, for example, bugs in a mobile application, are directly related to dependence on someone else’s code. But bugs are the lesser evil that can happen.

For clarity, we will give a vivid example of the world-famous Copay crypto wallet, developed by BitPay. Due to the use of third-party libraries, one day a hole appeared in the wallet, allowing you to effortlessly steal bitcoins from users.

In UMI, there are practically no such dependencies, which means that problems in the code of other projects will forever remain problems of other projects. They will not penetrate our «abode» with you.

The issue of security has always been, is and will be a top priority for us, so we do not regret at all that we spent a lot of time and effort on creating an absolutely independent code. It was worth it.