Review on Union Fair Coin by gregori cordova
an absolutely democratic option when it comes to mining cryptocurrencies
The increase in the use of cryptocurrencies worldwide has led to more and more users who want to join and start mining them, but the process is now much more complicated due to the great monopoly that miners have when mining cryptocurrencies. In this context, Union fair coin was born, a decentralized cross-chain blockchain, which offers an ideal solution, since it uses a unique consensus mechanism, called UPos (Proof of Stake union) in which the rewards are distributed fairly. Because it is a cross-chain blockchain, it has interoperability with other blockchains, facilitating the way in which transactions are carried out, and avoiding that users have to spend larger amounts in fees at the time of operation and allowing unconventional tokens can be used more easily. The mining process with the Upos consensus algorithm, facilitates mining by preventing users from having to buy expensive equipment and giving them the opportunity to mine the UFC cryptocurrency directly from their cell phones, by downloading the wallet and stake, obtaining more profits , the greater the amount invested. The process is usually much faster than in other blockchains where the blocks are mined in a very long period of time, since with the UFC chain, the blocks are produced every 8 seconds.
There are many advantages when carrying out transactions with ufc chain, such as the possibility of having fees when carrying out very competitive transactions without the need to send our coins to one chain and then to another, since there is a lot of flexibility between blockchains and that also allows mining in a more democratic and participatory way.
Pros
- The larger the deposits, the greater the voting power that miners will have in decision-making
- The blocks are generated every 8 seconds in this network, which provides great scalability when making transactions
- Smart contracts can be created under the Ufc chain network, without the need for coding or prior computer knowledge
- Because it is a cross-chain network, you don't need to waste as much time when trading our little-known tokens.
- It uses a custom Turing virtual machine that allows programming in java, C, typescript facilitating the creation of smart contracts
Cons
- Although social networks say that the mobile wallet was going to be launched at the end of 2020, it is not yet available for download.
