UniCoin (UNIC) is a collectible cryptocurrency that was launched at the end of 2013. The UniCoin token was tested with time, and it still preserves its value without effort on the part of its users. It is one of the oldest tokens in the cryptocurrency world. There is no information available about the team standing behind the project which is a rather common case with early crypto projects.
The goal of UniCoin
Using UniCoin, all members of the community can join the game following the same rule. This is the main task of the coin that still preserves its value despite its rich background.
Based on the Sha-256 algorithm that features 4-minute block times, UniCoin is faster than Bitcoin. The difficulty of mining is calculated every four blocks.
Unique features of the UNIC token
The essence of the UNIC token is interesting from two perspectives. First of all, it belongs to the ‘fair launch’ cryptocurrencies. Such cryptocurrencies are mined, earned, owned, and governed by the members of the community as they do not depend on any central entity in these aspects. The same concept is promoted by decentralized platforms that have become widely acknowledged only a few years after the launch of UNIC.
There are several standards cryptocurrency exchanges should meet, which are necessary for fair launch such as public pre-announcement of the launch without early access to sales for some privileged groups of users. Also, miners of fair launch cryptocurrencies should have sufficient time to configure their equipment as pre-mining is excluded. There are no hidden blocks, while the first 360 blocks are usually mined at a lower block reward.
Secondly, being a collectible cryptocurrency means that UNIC rebels against the top-down model. The code presupposes that the token is individually controllable. This is another concept that is incredibly popular at the time of writing since the popularity of NFTs has considerably increased in the course of 2021. There is no need for a third party to govern transactions when users send collectible tokens to other users. Only holders are in charge of controlling their assets. This is the feature that makes the concept alluring.
It was planned to issue only 16 million UniCoins. The common mining reward was 1 UniCoin per block at the beginning. When the block number is divisible by 16, the miner gets a special reward equal to 8 UNIC. However, after halving that took place in June 2015, it decreased down to 4 UNIC divisible by 16 or 1 Unic for ordinary blocks as before. The following halvings resulted in a further decrease in the reward.
The number of cryptocurrency exchanges where UNIC is traded is rather limited. For instance, it’s possible to buy UniCoin on BTC-Market.org and on FoBCoin cryptocurrency exchange.Read More