What is United Crypto Community (UCOM) Crypto Beginner’s Guide
The United Crypto Community is a currency that has made use of its community in modifying its mission to create a better cryptocurrency with Masternodes.
The United Crypto Community claims itself to be the International Asian Currency. As an international currency, it is important to the team to encourage a community-minded cryptocurrency and, thus, will listen to its community’s requests and opinions. The goal of UCOM is to create a global democracy upon the blockchain. A person from any country can become a United Crypto Community delegate, and thus will be able to lead their nation’s community. Since the platform functions on a DAO, it is self-sufficient and cannot only pay delegates for their contributions to the community but also supply them with a budget to implement projects and ideas that they feel with benefit their entire community.
A Board of Directors will be headed by those who hold 20 or more Masternodes. This Board of Directors govern the system and receive priority privileges to project ideas and important information about the platform and community.
The goal of the United Crypto Community is to remain completely democratic and transparent. This will be in part thanks to the use of Masternodes.
The decentralization model works because it is supported by multitudes of individuals, known as nodes, to add resources to the blockchain to validate transactions. Users are capable of sharing their nodes to connect with others; however, users are not obligated to do this and can instead choose to not publish their node.
Masternodes have been created to help nodes where others are lacking, essentially saving them by offering large amounts of accessibility in exchange for better rewards. Within UCOM, Masternodes will offer the same support while running under the same protocol as nodes. They will validate transactions and store chains of blocks and offer additional services that will help prevent overload on the UCOM network.
Any node will have the opportunity to become a Masternode. Exactly 1000UCOM must be transferred to the node, and when the transaction is published to the blockchain the network can determine if this node can become a Masternode. The Masternode can then announce its existence to the peer-to-peer network and establish itself within the community.
The community’s cryptocurrency, UCOM, is a Proof-of-Work coin. A little over 18 million coins will be created, with over a million pre-mined.
UCOM will utilize the protocols InstantSend and PrivateSend. InstantSend locates and utilizes the ten nearest nodes to validate a payment, allowing for 5 second transactions. PrivateSend is possible by initially mixing transaction requests before sending the payments back to the owner, creating amounts that cannot be traced and, thus, a completely private transaction.
There are thousands of cryptocurrencies, and they all try to stand out in various ways. UCOM’s dedication to community and democracy certainly makes it distinct compared to generic coins and will perhaps be alluring to those who want to be part of a bigger community.