Consensus Algorithm, Nodes and Blocks

The UMI blockchain uses a Proof-of-Authority algorithm based on master nodes and node validators (node verifiers). A node, or node, in the UMI network is a device with special software. Nodes verify transactions (validator nodes), create blocks and send them to the network (master nodes).

The UMI blockchain has three basic node implementations: master node, verifier node, and light node.

• The master node implements full functionality. The blockchain is stored in binary form in files on disks.

• The verifier noda does not have the ability to create and publish new blocks. The blockchain is stored in binary files on disk, and the current state is stored in an embedded database.

• The lightweight node does not save the blockchain to disk, proxies requests to full network nodes and validates the responses.

Transaction accounting in the UMI blockchain network is accomplished through a chain of contiguous blocks of information. This is the foundation of blockchain technology and a secure way to store data, which is a digital registry of all transactions conducted on the UMI network. The register is protected from unauthorized access and cannot be changed.

The blockchain is constantly growing in size as nodes add new blocks of transactions to the blockchain. Blocks are stored in the blockchain in a linear sequential-chronological order.

Information about all transactions in the network is stored in the blockchain, taking into account the order in which they were conducted. The blockchain also stores all information about addresses and balances, starting from the primary block - the genesis block - to the most recently added to the network.

Technically, the block holds 65,535 transactions with a total weight of about 9MB. A block is capable of being generated on average once per second.

Each block contains a set of mandatory parameters:

• Block timestamp.

• The hash of the previous block.

• The number of transactions in the block.

• Information on all transactions within the block, including transaction ID numbers.

• Digital signature and public key of the node (block generator).

When generating a new block, the node puts a cryptographic signature with a public key. Each block is digitally signed using the cryptographically secure SHA256 hashing algorithm.