Main technical features

• The initial issue is about 1,000,000 UMI coins, all distributed via Airdrop to the community.

• All subsequent coins are created exclusively through staking within a smart contract.

• The UMI team did not conduct an ICO, raise investment or organize a pre-sale of coins prior to the launch of the network. The cryptocurrency was launched with funds from the UMI team.

• Each block in the UMI blockchain holds up to 65,535 transactions. New blocks are generated approximately once per second, giving the network a throughput of up to 3,932,100 transactions per minute.

• Trading addresses on the network start with the prefix “umitrade” and contain 62 characters (Bech32 format). Example address: umitrade....iut7s Staking addresses on the network begin with the prefix “umistake” and contain 62 characters (Bech32 format). Example address: umistake.....8hjgt.

• The wallet address is generated using a mnemonic seed phrase (256-bit), which is a random series of words. For example: school marriage run dependence demise join pink loop when rather admit pledge like display divorce name door horror motor until manual just novel soccer

• Secure mnemonic seed-phrases are used for wallet login instead of traditional usernames and passwords.

• Transaction hash/ID (TxID) consists of 64 characters and contains digits from 0 to 9 and Latin letters from “a” to “f”. An example of the format for writing a transaction hash is: 6c30a24bcbbb33d540739dade880e98f9d18b12dc6f411fefd715f748600b77b

• Each UMI coin is divided into hundredths like fiat currencies, not 100s like bitcoins. Thus, the minimum value is 0.01 UMI.

• UMI is not a stablecoin. The coin's exchange rate is not pegged to USD or any other currency.

• UMI is a completely independent coin with its own blockchain. Not a token, but a coin.

• The network's blockchain is open and available for public viewing through specialized blockchain explorers. This provides the network with maximum transparency.

• All transactions are pseudo-anonymous. They are not anonymous because the addresses and amounts are visible to everyone for transparency purposes. However, they do not contain any personal data: name, age, location, occupation. Thus, transfers are confidential (if no one advertises that you own a particular address).

• The UMI blockchain platform is very versatile. For example, it can be used to create any products within the ecosystem.

• The source code of the network and smart contracts are posted on the most popular repository in the cryptocommunity, GitLab: https://gitlab.com/umitop/umid.