What is Unify (UNIFY) – Crypto Beginner’s Guide
Unify is an independent ecosystem for crowdfunding that utilizes cryptocurrency to secure funds for users who are seeking financial support for projects and ideas. Users who are interested in providing those funds will be able to do so with the platform’s cryptocurrency, Unify Coin, also known as UNIFY. When a project is successfully funded, users who participated in that funding will receive a certain amount of UNIFY tokens in reward; they’ll receive 25% of the USD amount they funded, back in the form of cryptocurrency.
Through Proof of Stake and Proof of Work systems, the coin is being held by stakeholders, and is being mined by users. This keeps the blockchain that the platform is based on alive, and truly makes Unify a decentralized ecosystem that depends on the activity of its users in order to function.
Unify aims to represent the next generation of crowdfunding. The platform operates on complete transparency, and with clear funding and the inclusion of their cryptocurrency on major exchanges, Unify intends to achieve a strong and stable currency that provides funds for its users.
The Unify Marketplace
Unify’s platform will support a marketplace where users can buy and sell crowdfunded projects, as well as other products. By setting up the marketplace, Unify creates an immediate home for users to pitch projects, and receive funding for those projects. Users can also browse through products that are offered.
The Unify Marketplace doesn’t only utilize the Unify token for payments; users will also have the option to pay in USD, Bitcoin, Ethereum, Litecoin, and other cryptocurrencies. As a place to promote services and business, the Marketplace is meant to be a support system for everyone.
The Unify Token
Unify’s platform has an internal form of cryptocurrency called the Unify Token (UNIFY). Created in June 2017, UNIFY is the main currency that is used for financing projects on the Unify crowdfunding platform. The tokens are also used as a payment method for the Unify Market. UNIFY is an ERC20, Ethereum-based token.
UNIFY is also a Proof of Stake (PoS)-based coin. For the PoS system, one node is chosen to process the transaction of the coin, and other nodes verify the block. The more coins that are staked, the more likely the holder will be chosen to create the next block. Currently, the reward for each block is one Unify token.
UNIFY is also listed on several exchanges, and can be held in dedicated wallets that are available for download on Unify’s website. Since users who are beginners to the cryptocurrency world are easily confused and wallets can be hard to use, Unify has overhauled its wallets to make them as easy and friendly to use as possible.
With the Marketplace and its own form of cryptocurrency, Unify is a new source for people who are looking to fund their projects. As crowdfunding becomes more and more popular, users can begin to turn to the digital world to find the financial support they need. Unify aims to be a user-friendly and decentralized platform that provides this opportunity to anyone who seeks it.