What is UltraCoin (UTC) Crypto Beginner’s Guide
In order to produce a crypto coin that would possess all the features of a real currency, in February 2014, the Ultracoin was launched. There are lots of problems which the world economy currently faces including a fiat backed system of government which is unstainable, instability, war, and so on. Following the growth of decentralized currencies, there has been a lot of positive changes taking place. Ultracoin is one of the many solutions which are steadily coming up. The goal of the coin is to meet all the specifications included in the fundamental principles of any currency.
These include acceptability, divisibility, stability, and a unit of account. Although all of these will be met, acceptability seems to be the priority of the community and the development team of Ultracoin. The most significant difference between the Ultracoin and regular coins is the fact that it aims at achieving its goals without forcing users to make use of the currency. it also eliminates the use of “legal tender” laws which usually have government backing. The coin will be a free currency which is generally acceptable which is voluntary in its use. With Ultracoin, users get what a currency similar to what is available with the use of fiat currency without all the restrictions of the regular currencies.
Running as a Proof of Stake and Proof of Work currency, the Ultracoin is considered a hybrid coin which provides rewards for both investors and miners. Rewards available on the platform include interests on any amount an investor has in savings as long as their wallet is connected while Ultracoins are issued to miners for mining any block.
The Ultracoin Mission
Creating a currency which is durable and will retain its value for a long time is one of the most significant motivations behind the development of Ultracoin. The coin will also be able to resist manipulation to promote political agendas, without banks to control the currency, with an infinite number of coins. The coin will also not force people to make use of it while control will be spread over a larger number of individuals. The currency will also be acceptable and recognized all over the world regardless of borders, nationalities, or political affiliations.
Ultracoin Payment Processors
For lots of businesses which offer an e-commerce platform, an excellent payment gateway which they use is Coinpayments. Cryptopia already has Ultracoin as a part of its listing and Coinpayments will soon feature the coin. Any business that hopes to make use of Ultracoin on its e-commerce platform will find the services of Coinpayments to be quite beneficial.
How To Mine Ultracoin (UTC)
Downloading a compatible wallet is one the most important steps in mining any cryptocurrency. The same applies to the mining of Ultracoin. Once the download is complete, you generate an address from the wallet. Any coin you gain through mining will be sent to the address.
YBMiner remains one of the most widely used miner for anyone into GPU mining of Ultracoin.