UMI is a universal monetary instrument It's innovative decentralized cryptocurrency allowing you to make virtually instant, free, and completely secure transfers.
 
Developed from scratch, this full-scale blockchain platform can create and execute smart contracts and operates using master nodes and the unique Proof-of-Authority model.
 
UMI is the only cryptocurrency employing the staking technology based on a smart contract enabling network users to unite to build structures and increase their amount of coins by up to 40 % a month by simply storing them in their wallets.
 
Virtually instant transactions. No fees.
 
-        UMI is 300 times faster than Bitcoin. It can process about 4,369 transactions per second and strives to outclass VISA and MasterCard.
 
-        The UMI network can process 500 million transactions that have been carried out in the Bitcoin network for 12 years in less than a week.
 
-        Block generation time is up to 15 seconds.
 
-        Each transfer is totally free-of-charge. It doesn't matter where and how much money you send. Users don't need to pay fees.
 
It's more secure and reliable than other cryptocurrencies.
 
-        Blockchain technology and complete decentralization ensure protection against hacking, leaks, unauthorized changes, and third-party intervention. UMI has no “center” that could be negatively influenced. Any participant of a network can launch a validator node.
 
-        The innovative Proof-of-Authority technology enables protection from 51 % Attacks, Nothing-at-Stake, and other blockchain vulnerabilities.
 
-        UMI ensures the unique model of DDoS protection (spam transactions). UMI requires a spammer device to complete a  mathematical operation whose difficulty level increases until the attack loses all its efficiency.
 
-        UMI  prevents money loss due to computer software or hardware failures. The network does not use the wallet.dat file and there is absolutely no need to store anything in electronic form.
 
Smart contracts, convenience, and transparency
 
 
-        UMI is not just digital money. It's a full-scale blockchain platform that can be used to create and execute smart contracts with any level of complexity.
 
-        The network can be easily modified and scaled with cutting edge technology solutions. It's easily integrated with the existing payment systems, cryptocurrency exchange platforms, and exchanges.
 
-        Using UMI is as easy as sending a sticker on Telegram.
 
-        The source code of the UMI network, as well as its blockchain, is fully open to the public.
 
Staking based on smart contract increases the number of UMI in your wallet by up to 40% per month
 
-        UMI is the only cryptocurrency which implements the staking concept on the basis of a smart contract.
 
-        Unite in structures and increase the number of your coins by up to 40% per month by simply storing them in your wallets. No extra power usage and no software  It's new-generation mining.
 
-        To start staking, join any structure or create your own one. After you join a structure, your coins remain in your wallet. Only you can control your coins. Structure organizers can set individual parameters and receive an additional reward — 1 % to 5 % per month from total staking of their structure + bonuses. By creating your own projects on the UMI basis you can earn even more.
 
The reward amount depends directly on the structure size ((total number of UMI coins)
 
The more coins are used for staking, the higher reward is received by each participant.
 
Structure size (min)  –– 50,000 UMI. Monthly increase –– 5% to 9%.
Structure size (min)  –– 100,000 UMI. Monthly increase –– 10% to 14%.
Structure size (min)  –– 500,000 UMI. Monthly increase –– 15% to 19%.
Structure size (min)  –– 1,000,000 UMI. Monthly increase –– 20% to 24%.
Structure size (min)  –– 5,000,000 UMI. Monthly increase –– 25% to 29%.
Structure size (min)  –– 10,000,000 UMI. Monthly increase –– 30% to 34%.
Structure size (min)  –– 50,000,000 UMI. Monthly increase –– 31% to 35%.
Structure size (min)  –– 100,000,000 UMI. Monthly increase –– 32% to 36%.
Structure size (min)  –– 500,000,000 UMI. Monthly increase –– 34% to 38%.
Structure size (min)  –– 1,000,000 UMI. Monthly increase –– 36% to 40%.
 
Staking rewards are accrued every second, 24/7 regardless of where you are and what you are doing.
 
Grants for active participants
 
-        A smart contract based on staking generates additional coins for grants to active participants. Grants are assigned to persons who create products on the UMI basis and enhance the network development in any way.
 
-        Grants are only paid to most promising and/or powerful teams (or individuals) who provide the most attractive solutions.
 
-        In addition to grants, a fund for best UMI based products will be created.  Coins from this fund will be allocated for the development of the most powerful projects.
 
Join in and change the world with UMI!
 
UMI's goal is to provide every person on the planet with an opportunity to participate in the “creation of new digital money” and make instant, secure, and free transactions UMI is a true alternative to the existing financial system that can build the world's strongest community comprising billions of users from all around the globe!
 
Information regarding  UMI coin sales will be published over the next 2 weeks. Negotiations with the trading platform are already underway.
 
Over the next 2 weeks, the first structure for UMI staking will be created. The integration process is already underway.

UMI — Universal Money Instrument. The future is already here!
 
Website: https://umi.top/
Whitepaper: https://umi.top/about
Code on Github: https://github.com/umi-top
 
Web wallet: https://wallet.umi.top/
Blockchain / statistics: https://blockchain.umi.top/
API: https://umi.wiki/
 
Yellowpaper: https://umi.top/yellowpaper
Onepager: https://umi.top/onepager
Presentation: https://umi.top/presentation
Brand book: https://umi.top/brandbook
 
Help:
 
FAQ:  https://umi.top/faq
Guide: https://umi.top/guide
 
Feedback:
 
General issues: info@umi.top
Business proposals: up@umi.top
Developer team: dev@umi.top
 
We are in social media:
Facebook: https://www.facebook.com/umi.top.eng
Instagram: https://www.instagram.com/umi.top.eng/
YouTube: https://www.youtube.com/channel/UC8Beb0iYiIkb6YNx_gyQZpw
Twitter: https://twitter.com/umi_top_eng
Medium: https://medium.com/@umi_top
Reddit: https://www.reddit.com/user/UMITop
Telegram: https://t.me/umi_news_eng

Price 1 UMI ?

Why is there no introduction: how to get coins?

The UMI team has recently partnered with SIGE[Suspicious link removed]o, a trading platform that combines an exchange, a P2P platform for secure cryptocurrency exchange for fiat money, and an automated exchanger. In the near future it will be possible to buy and sell UMI coins at SIGE[Suspicious link removed]o. We'll notify you later, so stay tuned!

An important goal of UMI is to provide every person on the planet with the opportunity to participate in the “creation of new money” (in this case, digital). Or, as this process is also called, in emission. At the moment, new money is being printed by central banks: in the USA — by the Federal Reserve System (FRS), in Europe — by the European Central Bank (ECB), in China — by the People’s Bank of China, in Russia — by the Bank of Russia.

Freshly printed bills flow into the economy. But how exactly they do this does not quite fit into the concept of justice in relation to ordinary citizens. Tell me, did you have a situation at least once when the central bank printed new money and issued it to you? Bet that no. And surely the same story is with your friends and colleagues.

This is because, as a rule, freshly printed funds are poured into the economy according to the following or similar scheme:

1️⃣ The central bank creates money.

2️⃣ Pours them into commercial banks (for example, buys bonds of private banks as in the process of quantitative easing (QE)).

3️⃣ Commercial banks distribute this money in the form of LOANS on “favorable” conditions.

The result of the current issue: in the short term, people have more money to buy goods. In the long run, “more money” means more debt, because credit is not a gift. You need to pay for it. And pay with interest.

❗️ The current financial system hardly provides for situations where money directly from the central bank falls into the wallets of ordinary mortals. However, the task of UMI is to correct this by fundamentally transforming the process of issuing assets in favor of society.

✅ With UMI, everything is indecently simple: people themselves “create new digital money”. For this, neither energy consumption nor powerful equipment is needed. Nothing. All that is needed is to start staking.

New digital money bypasses banks and other intermediaries, falling directly into the wallet of the people themselves, who are issuers. Billions of people around the planet, united by one idea, create new means themselves and use them themselves, without asking anyone for permission. And all this is completely free.

Banks confuse humanity and turn off the light.

UMI — turn it on again❗️

Hello everyone, the UMI team is in touch! Since the launch, we have been collecting various questions on chat rooms, forums and social networks. In addition to those questions that are already answered in our extensive FAQ, we noticed a number of other interesting topics of discussion. Especially for you, we have prepared an article with answers to non-standard questions regarding the UMI network. Go!

1. What is the final coin issue? 100, 200 billion?

UMI emissions are not limited. By participating in staking, you will always create new coins at a rate of up to 40% per month. According to our mission, everyone should be able to create “new digital money” at any time - not only today, but tomorrow.

2. Is it possible to somehow shorten the address, make it more beautiful, memorable, such as login or e-mail?

It is possible, but in that case the addresses would be less secure. In this regard, cryptocurrency addresses in the UMI network are generated according to crypto standards in order to protect against quantum computers. In order to ensure maximum security, they can only be long and generated only randomly, so at this stage no “shortening” or “simplification” of addresses is provided by the UMI network.

However, we are confident that in the future there will be services that will allow UMI users to safely simplify addresses to more convenient formats. Addresses may look like:

1) Shortened addresses, for example, umi-andrew;
2) "Nicky" as in Telegram, for example, @andrew;
3) And even as an e-mail, for example, andrew@umi-master.ru.

All of them will be equivalent to the standard format UMI addresses. For example, umi-andrew, @andrew and andrew@umi-master.ru will mean the same as umi1yp0aljz7q9mp97tj5fuz5pdpz83avqydefac42n3pm0ya3j2w70sjzu8wc.

Thus, with the advent of new technologies, you can use a more convenient address format for operations with UMI.


3. How is the stability of the coin rate ensured at such an extremely high yield? Will there be inflation, depreciation? Indeed, perhaps in the future there will be more people who want to sell a coin than there are people who want to buy a coin.

If you are worried that an endless emission will “kill” a coin or are afraid of something like that, we hasten to reassure you - we took this moment into account. A well-thought-out reward system should not allow UMI to become a victim of hyperinflation, since emissions are available only to structures (pools) that make a huge contribution to the development of the ecosystem and attract a new loyal audience interested in coin development.

As for the "excess profit." Do not forget that 40% per month is a value that will be available only to the most successful structures after many years of development. To create coins with such a percentage, it is necessary to have more than 50 (!) Times more coins in the structure than were created by the network at launch. At the start, the first structures will offer a lower percentage of staking, which, however, will be a fair reward for their contribution to the development of the network.

Thus, UMI emission is constant, but not abnormal for the cryptocurrency market. UMI does not have any “killer excess return”. Moreover, the market has a huge number of successful cryptocurrencies with constant emission. The most striking example is the Ethereum network.

And most importantly, UMI is an evolving project with the ability to quickly and conveniently scale the ecosystem. If UMI encounters any problems, adjustments will be made as the network develops. Everything will be considered according to the situation based on the current state of the project. Decisions to modernize the network were made (and are made) by all leading crypto projects, including Bitcoin and Ethereum. At the moment, the smart contract offers adequate and relevant opportunities for UMI staking and does not cause any problems.

4. How can it be easy to implement UMI in a store so that people feel comfortable understanding? Is it possible to use the system of cashbacks, points? Will there be any application?

The UMI ecosystem allows you to integrate cryptocurrency into any development, including in online stores with cashback systems, points, and everything else.

Especially for this, we have created convenient API and SDK tools that we are constantly improving. However, in the future we plan to develop HD wallets and a universal smart contract for various platforms like eBay, Avito and so on.

HD wallets will allow you to conveniently create addresses without a private key, and a smart contract will act as a guarantor of the transaction, including blocking UMI coins until the transaction is completed. With these features, UMI will be easy to add to both online stores and various services.

A smart contract will make the trading and cryptocurrency integration process even more convenient and safer. But most importantly, he will offer innovative solutions and will allow to realize new opportunities in the field of trade or the provision of services that are currently simply unavailable.

Also in the near future there will be mobile applications that will greatly simplify the process of using coins.

5. Is there a direct integration of UMI into ROY Market? So that the seller receives coins at his address after the sale of the goods. And so that everything is convenient and safe?

Yes, thanks to the aforementioned HD wallets and a universal smart contract, cryptocurrency will be fully integrated, including in the ROY Market. The system of transactions using UMI will be adjusted as conveniently and safely as possible.

6. Is it possible to bind the wallet to e-mail with a 2-FA (two-factor authentication) connection, transactional passwords, binding to a phone number, etc.?

The UMI network is decentralized and works on the basis of blockchain technology, in which it is impossible to implement the solutions described by you technically. For maximum security, the UMI network does not collect any personal data, does not store passwords, and does not create any connections with user devices.

Nevertheless, in theory, such services can be implemented by individual services outside the blockchain network. And we are confident that such wallets will appear as the UMI infrastructure develops.

Also at this stage you can already use the SIGE[Suspicious link removed]o platform, which will automatically create for you a full-fledged UMI wallet with 2-factor protection of your coins by e-mail or GA (Google Authenticator).

In addition, a mobile application for UMI is already being developed, which will allow you to log in to your wallet and confirm transactions using Face-ID, Touch ID or PIN, as well as provide opportunities for safe storage of mnemonic phrases.

7. Are coins entered in the staking frozen or not?

Coins in staking do not freeze at all. Everything works exactly as described in Whitepaper - “entered” into the staking coins can be “withdrawn” at any time, even immediately after input.

8. In the white paper is written “Forging”, although on the Internet it seems like everywhere is written “Forging”?


Not everywhere. In various Russian-language sources, this term is written, and, accordingly, pronounced differently. Similarly, with other cryptocurrency names. For example, the creator of the Bitcoin network on Wikipedia is referred to as “Satoshi Nakamoto,” although the crypto community around the world calls this genius “Satoshi Nakamoto.” It is the second option that is mentioned in our Whitepaper.

As for the spelling of the term “Forging”, here we decided to use the sound variant of the original word “Forging”, since its transcription contains the sound “d” - [fɔːrdʒɪŋ]. Accordingly, in Russian the word is pronounced "Forging."

9. Is it possible to install a node on the phone to also be involved in maintaining the network?

At the moment, you can only install a node on a desktop computer or laptop, but in the future we will also release versions of nodes for smartphones and tablets.

10. Is it possible to install a node to maintain a network on a computer that does not work around the clock?

You can install it, but if you turn off the computer, the network will not be supported until you turn it on. As a convenient option, you can rent capacities on special services such as Amazon AWS. In this case, you will not need to keep the computer turned on.

Be that as it may, your coins in staking grow 24/7, regardless of whether you have a node installed to maintain the network or not. So this point should not cause inconvenience.

11. What is the motivation of node nodes to support the network if there are no commissions and they do not earn on this?

The master nodes are held by the UMI team, our partners and organizers of large staking structures who are interested in making the network work successfully and steadily generate new coins.

Validator nodes and lightweight nodes are held by those who need quick access to the API and who want to protect themselves as much as possible from scammers who fake API requests. That is, the creators of cryptocurrency exchanges, applications and various products based on the UMI ecosystem must technically launch their nodes in order to ensure the proper functioning of their services.

And finally, the motivation is not only self-interest. In the UMI network, our mission plays a much more significant role. Each node maintains a network that has the chance to provide a happy future for all of humanity. Everyone contributes to the development of an alternative financial system, which, by the way, makes it possible to “earn” excellently by staking on a smart contract.



Thus, all persons supporting the network still receive their dividends, which ultimately makes the network more secure and fast. So we are sure that all holders of nodes are maximally motivated to maintain the network without additional financial rewards.

12. Will the coin be exchanged to other exchanges? Indeed, listing on third-party exchanges will make it possible to manipulate a coin and trade, dropping the rate (as it happens with PRIZM).

As the UMI coin develops, it will be added to other reliable exchanges, not only to the SIGE[Suspicious link removed]o platform. However, looking at it is from a completely different angle, because this is an inevitable stage in the development of all successful cryptocurrencies, which carries many advantages, not disadvantages.

Listing on new exchanges means a new audience, new purchases, increased trading volume and, accordingly, higher stability of the coin. Traders, like other users, have the opportunity to join structures and start staking. And the one who bought the coin will never be interested in "dropping the course."

Moreover, there are two more important points:

1) Listing on new exchanges will not be in the very near future, but only after the coin reaches the widest possible audience and finally "gets stronger" - to a level that eliminates any manipulation and allows you to maintain an exceptionally healthy market.

2) We will focus only on large trading floors with an excellent reputation, real users and non-wound volumes.


13. Will there be any certificate, document, patent for UMI, certificate of registration?

In the near future, we plan to get a legal document on the legalization of UMI cryptocurrency in the European Union, confirming that UMI is a decentralized payment token (payment system) with a completely open source code, and not a security, security-token, utility-token or something another. This will open up new possibilities for the use and integration of UMI cryptocurrency. Further, we plan to address the issue of legalization of cryptocurrency in other jurisdictions.

Also, when the cryptocurrency passes a “strength test” - after the coin reaches the milestone of 1 million users, the UMI team or one of the partners will register technology patents and receive the appropriate certificates.

14. Can I add my own words in the mnemonic phrase for greater reliability?

In the official wallet and UMI nodes, no. For maximum security, the UMI network adheres to the secure Bip39 standard, which is also implemented in Bitcoin and other well-proven cryptocurrencies.

The Bip39 standard is a convenient way to create catchy text without a human factor. For example, one of the most popular passwords for social networks is a password of the form “Qwerty123” and “Password123”. It is very easy for hackers to crack them. In theory, users can, for their convenience, also unknowingly create unsafe mnemonic phrases - with simple words connected with each other, popular phrases and so on. The Bip39 format protects users from vulnerabilities of this kind, and the words are selected in such a way that they can be easily remembered by the first three letters.

So, your mnemonic phrase is not just a collection of words, but an encrypted secret key. The UMI team considers user safety its top priority, therefore, in order to ensure maximum security in official wallets, a mnemonic phrase is generated completely randomly according to the Bip39 standard.

However, the UMI network does not impose any restrictions on the creators of wallets and other applications. Therefore, over time, unofficial wallets will surely appear, where you can "collect" a mnemonic phrase from the desired words. Bip39 in the official wallet is nothing more than a recommendation from the UMI team.

That's all. We hope to answer all your questions. Also, for your convenience, we will create a new section in our FAQ, where we will place all the answers given above.

Regards, UMI Team!

UMI — Unique Digital Bank of the New Generation

As UMI grows, evil-wishers may compare this cryptocurrency to a financial pyramid because coin value in user wallets grows at the rate of up to 40% a month. Anticipating potential accusations, the UMI Team has decided to provide effective arguments for all “whistleblowers”.

Coin value doesn't grow on all wallets or by itself. It only grows for users who belong to structures contributing significantly into ecosystem development. Among other things, they also bring in new loyal users interested in promoting the coin.

ROY Club's powerful structures will benefit the project greatly and will be justly honored with reward for their contribution into network development. Inefficient structures, on the other hand, receive low or zero growth (if a structure owns less than 50,000 coins). It means that no one can prey on UMI.

Coin value starts to grow only after a user activates the Staking Smart Contract. They should also use their personal addresses within successful structures rather than usual addresses. Therefore, adding coins to a staking structure is more like a bank deposit. Coin value doesn't grow on the user's current account — it grows on their structure's deposit account.

Moreover, UMI is designed as an alternative to the existing financial system, with traditional banks on top of the system. In real fact, cryptocurrency is completely different. UMI can be defined as a “unique digital bank of the new generation”.

UMI's advantages over bank deposits and financial pyramids are clearly visible:

Unlike traditional banks, UMI's digital bank cannot collapse. A usual bank as well as a financial pyramid will shut down if withdrawal exceeds deposit. If at least 20% of bank's customers decide to withdraw funds from their deposit accounts, the bank will not be able to pay them because it won't' have enough cash. UMI, on the other hand, does not generate coins out of thin air or through a stream of fresh funds. New coins are generated using the unique staking technology based on the Smart Contract. Nothing will happen to the UMI network even if 100% of users wish to withdraw their coins from deposit accounts at the same time. The network will continue to operate smoothly, nothing will collapse.

When you make a deposit in a bank or a financial pyramid, funds are locked and sent to the managers. In UMI, coins are always stored on the users' wallets. The Smart Contract allows people to make “deposits” without granting access to their funds to anyone, not even organizers of the structure. Unlike unfair banks or financial pyramids, organizers of the structure cannot technically flee with users' funds as they have no access to them.

Banks issue printed money to citizens as loans charging extortionate interest. UMI gives the “printing press” directly to the people allowing them to generate new digital money themselves — and does so free of charge.

Unlike bank deposits, UMI can afford to pay its users a much higher interest. It's partially because we don't have to invest into an expensive banking infrastructure or huge management wages. Instead, to cover expenses of the UMI Team, the Smart Contract additionally generates 2% of all coins engaged in staking on a monthly basis. These funds are used to promote the cryptocurrency and pay grants to activists.

UMI earning rates are as high as those in financial pyramids. The idea behind the project is completely different, though. UMI's Smart Contract GUARANTEES that you will receive your coins and all earnings in 100% of the cases. It's embedded in the code of this technology. New UMI coins are just generated like Bitcoin and Ethereum tokens. There will be enough for all. While a financial pyramid will surely collapse as all it does is paying to those coming first using funds contributed by those coming next until withdrawal exceeds deposit and the “treasury” becomes empty.

Finally, unlike banks or financial pyramids the UMI network is decentralized and features a completely open source code. It does not belong to a bunch of people — it belongs to all users thus ensuring their funds are completely safe. The open source code guarantees there's no hidden agenda and rules out any potential fraud.

UMI is a new product with no equivalents. It's a “unique digital bank of the new generation” that surpasses traditional banks in all parameters. It's a cryptocurrency that can change the world. Not tomorrow — today. Right here, right now!

UMI Marketing: Top Cryptocurrency Marketing Strategies

When UMI was launched, people acquired a universal money instrument that allows for instant and secure transactions charged with no fees and independent generation of new digital money — with neither energy expenses nor powerful equipment. It has the potential to fundamentally change the financial system by making it more profitable and convenient for the entire human family.

The more people will learn about this cryptocurrency, the faster this idea will spread around the world. In other words, like any new product, UMI needs mass and maximum effective advertising.

UMI allows using the most efficient strategies, established by the crypto industry. This post is about marketing strategies we prefer and why.

Nonstandard approach to advertising

Over the years of its existence crypto industry has proved to be a unique field whose promotion requires unconventional methods — you can’t present cryptocurrency as primitively as, for example, you present a bottle of soda or a chocolate bar. It’s a lot more complicated than that. Users need deep insight into the idea. For this reason, numerous educational resources, the ability to test the product, and support from those who know how it works are of great significance.

This is why the UMI Team, like many other top representatives of the crypto industry, use strategies and options which are different from traditional media coverage and internet advertising. They are based on four pillars:

1. Interact directly with opinion leaders — the so-called influence agents/influencers/bloggers.

2. Apply referral marketing principles and award users with various bonuses.

3. Hold all kinds of contests and events with cool prizes and gifts.

4. Work closely with the community and actively contribute the development of the product.

CoinDesk, an authoritative crypto news platform, mentioned the above-mentioned strategies as the ones gaining more popularity with major crypto companies, while conventional advertising tactics see a gradual slide.

Experts attribute this trend to the similarity between crypto marketing model and the beauty industry like those of Faberlic, Oriflame and Avon. These world-known companies are based on well-developed referral programs which worked for decades for them. Moreover, the beauty industry is based on the same four pillars that we mentioned above. In other words, both crypto and beauty communities apply the same techniques. Thus, beauty blogger Michelle Phan, who has over 1 mln YouTube subscribers, promotes cosmetics and bitcoin in a similar way. She’s confident that most crypto companies are following the same marketing strategies as the beauty industry does — even if they don’t know about it.

Let’s review the strategies the UMI Team wants to use to promote the coin.

Direct-to-Customer model — work directly with the community

Top cryptocurrencies are currently shifting to DTC (Direct-to-Customer) sales model, which refers to close cooperation with the community and direct sales. With this model, a company produces a product or service in its own facility, as well as distributes it among customers with its own channels. For example, these channels may be social media and an e-commerce platform (marketplace), like Amazon or eBay.

The UMI team also bases its promotion strategy on this model. To spread information about UMI, we use social media, forums, blogs, and influencer partnership, while remaining as open as possible to the community. We also consider using social media and popular marketplaces to sell our trademark products. For instance, we can sell NFC wallets and various branded products there.

This strategy is believed to be one of the most effective ones, able to reach different social groups, even from emerging countries. CoinDesk mentions Livia as a country where social media and chat rooms are the most widely used ways to promote crypto-related goods and services.

Partnership with influencers

A person, who doesn’t know much about UMI, should first understand what it is about and why they need it, and only then they will start using it. Such conventional methods as newspaper advertising or social media ads, don’t work here. As we said before, the most essential thing is to explain the idea behind UMI to audience; demonstrate the role and potential of cryptocurrencies in the twenty-first-century world. Close, efficient and individual work with each user, including guidance on all issues at every stage, will be truly helpful.

One of the best solutions in accomplishing this is to cooperate with popular personalities, who have a lot of subscribers and an authority, which allow them to affect purchase decisions of their audience. They are known as influencers, opinion leaders, or simply bloggers. People have more trust in figures of authority rather than traditional timeworn ads. Subscribers understand that a reputable blogger will not place their reputation at risk for the sake of money — they will first thoroughly research a product before introducing it to their audiences.

Our team is collaborating closely with popular bloggers on various social media, like Instagram, YouTube and others. The information about UMI must reach as many people worldwide as possible. Only then it will gain massive acceptance. As UMI grows, we plan to get more active with advertising UMI through different platforms and engaging more influencers.

Coindesk reports about many well-known crypto companies using a similar strategy:

- The Kraken crypto exchange. Its CEO focuses on sponsoring content creators that monetize their personal brands. Kraken sponsors Reckless VR startup, founded by virtual reality meetup organizer Udi Wertheimer, and podcaster Peter McCormack, who launched his media brand Defiance last year.

- Crypto․com platform. Thanks to their influencer strategies, the startup’s user base doubled to 2 million people over the past six months.

Referral marketing (MLM marketing)

The MLM marketing strategy is based on the referral program. This strategy encourages existing users to recruit new ones who are paid a percentage of their recruits’ sales.

Binance and Gemini crypto exchanges have already proved successful with the referral model. These two giants of the crypto industry offer their customers a reward for bringing in new users. The result is remarkable: they both are the most successful trading platforms over the globe.

We have applied an “outside the box” approach. Instead of somehow integrating the referral program into the UMI network, we have developed a smart contract that allows users to join communities themselves and create structures for staking UMI. As for structures, they can apply any MLM strategy they like.

For example, ROY Club — the structure created by a partner of ours — offers a 9-level bonus program which successfully promotes not only the ROY Club itself but the UMI network. The flexibility of the smart contract will allow other structures to develop and use a different referral program to engage a new audience. All this has a positive impact on the growth and popularization of our cryptocurrency.

As our Whitepaper says, “At the moment, MLM is one of the most efficient ways of promoting crypto technologies as it involves an audience that will be really using the cryptocurrency, not only speculate on currency rates.”

Gifts, giveaways, and contests

Even a small gift is always appreciated. When it comes to cryptos, a gift could mean a lot more. Receiving UMI coins as a gift means a great opportunity to learn more about this cryptocurrency: try out instant transfers, take part in staking, etc. This strategy will engage and encourage potential users to use coins for their personal needs. The UMI team is perfectly aware of this and is always generous with their gifts.

Two weeks after the network launch, we arranged an airdrop for members of the first staking structure — Roy Club. A total number of 357,664 UMI was airdropped in two tranches:

1. The first tranche amounted to 221,504 UMI. The transaction URL:
https://blockchain.umi.top/transaction/3eb0ae61b435fb576e67344b14e535e6dda8120b6ef0ab17164f52f88ca9c394

2. The second tranche totaled 136,160 UMI. The transaction URL:
https://blockchain.umi.top/transaction/a443003b443c61d997347dad1f68d3e29da9eeab7eeadcedcf8f54e1786a43ba

The ROY Club team distributes coins among its active users in accordance with certain terms. In doing so the UMI Team allowed over 7,500 people to join UMI staking for free and build their own team.

We have also organized several contests. Anyone who wanted could take part in them and receive cool prizes. The ROY club likewise holds contests and giveaways for its members. We consider giveaway a powerful strategy which we are planning to use for UMI’s further promotion. This method is regularly used by other crypto-related fields to engage and reward new users.

UMI intends to embrace the entire world.

If used alone, each of the methods described above can produce a required effect. But to achieve greater efficiency, your promotion plan should comprise a complex of strategies. This is why we use the “4 in 1” tactic, where all the four strategies complement and enhance one another: we work closely with the community, as well as opinion leaders, apply MLM strategies, and organize contests and giveaways.

The progress is evident. For example, a little over a month ago, we released the official UMI video. During this time, it has received over 30,000 views. Another video about the partnership with ROY Club has more than 110,000 views. In addition, the number of our social media subscribers, especially on YouTube and Telegram, is increasing rapidly. Moreover, community members themselves take the initiative to record awesome videos and spread information about the cryptocurrency within their immediate circle. All this is only the beginning of the path. UMI intends to embrace the entire world.

Close interaction with the community is the most productive and fair way to promote UMI. Everyone has a right to “create new digital money” as well as to use a convenient, secure and efficient payment tool. We are confident that the strategies we use will achieve great results and all the world will learn about UMI. This process has begun. It cannot be stopped. With each passing day, our community will grow, set the trend and take the entire planet to the world of the future.

Thank you for being with us!

Best regards, UMI Team!

UMI – the Best of Cryptocurrencies and Fiat Payment Systems

Greetings from the UMI Team!

The UMI cryptocurrency has been repeatedly described as a revolution in the payment system market. Most interestingly, in this case, a revolution isn't about the development of any new technologies or formulas. We just selected the best and well-tried technologies and incorporated them into something new. UMI is the best of cryptocurrencies and fiat payment systems––it has comprised all the best features and got rid of the disadvantages.

UMI vs banks

We won't compare the ways UMI and banks operate in detail in order not to get into complex technical issues, which are of no interest to us. Instead, let's have a look at the impact banks have on people on a daily basis and those of fundamental changes UMI makes to the services we regularly use.

There are banks that allow you to make financial transfers. Banks have savings accounts where money grows at a certain interest rate. Banks also have a range of mobile apps and online banking systems. All of that may appear pretty convenient. But keep in mind, the banking infrastructure, as well as VISA and MasterCard payment systems, were created long ago and based on old technologies. They are not conforming to present-day developments, mostly because they cannot ensure their users a sufficient security level.

With this in mind, instead of inventing something new, UMI improves the things that everyone is accustomed to. The result is a digital payment tool working in an absolutely familiar way. Conducting transfers with UMI is similar to making them via a bank. And even the format of UMI is much alike to conventional money––UMI and UMI-cents are the equivalent of the dollar and cents.

In UMI, just as in a bank, you have a current account (standard UMI address) and savings account––addresses used by structures for UMI staking. You can transfer money from one account to the other one in one click. The difference is that, in most banks, you receive your interest in a month at the earliest. In other words, you can get your money back with interest if you kiss it goodbye for 30 days, minimum. In UMI, earnings are accrued every second––you don't have to wait a long time for "your funds to be unlocked".

But what is the most significant is dividends. UMI staking allows any network user to earn up to 40% per month. Holding your money in a savings account even for a year, much less for a month, you will never make this profit. Why?

1. Because banks make good money on your deposits, instead of paying higher interests, they take the lion's share of what they could pay you into their pocket.
2. Secondly, a large part of your deposits is used to maintain the banking infrastructure: salaries for staff, rental payments, maintenance of offices, utility bills, and other various expenses.
3. Third, banks are not interested in making people rich, because otherwise, they will not be able to make money on loans and control people.

Let's not spout out empty rhetoric, but move on instead. The VISA and MasterCard payment systems declare their ability to process thousands of transactions per second, but in real fact, even if received funds are displayed instantly in your account, you receive a transfer after a few days only. Especially if it concerns international money transfers or ATM transfers. The truth is that VISA and MasterCard transfers are delayed by a series of confirmations required by banks and actually reach a recipient's account only in a few days.

After having been sent, any transaction can be blocked or canceled, and funds in your account can be frozen on the slightest suspicion. Even if before receiving all the confirmations required by banks, you have already withdrawn the funds via an ATM or transferred them to someone, the bank may take this amount from your account a few days later. Thus, you may surprisingly find out that your balance is negative. Keep in mind that banks charge transaction fees. Fees for oversea transfers may range from $10 up to 10% of the transaction amount. Thus, instead of $1,000, a recipient receives only $900.

The UMI network uses validator nodes which in a couple of seconds verify the correctness of transactions and allow users to check their balance for the sufficiency of funds. All transactions are instant. A transfer cannot be canceled or blocked, as well as money in your account cannot be frozen. Unlike VISA and MasterCard, transferred funds are available straight after a transaction has been added to the blockchain. Moreover, no fees are charged for that. Each and every transaction, international or not, is completely free.

Don't forget about permanent internet connection, which is required for conducting transactions with VISA and MasterCard. A validator node used by the UMI network can create any transaction, even offline one, with no Internet connection. You can send a transaction to the network via Wi-Fi, Bluetooth, or even a radio wave. Therefore, if there were a sudden cataclysm and people from all over the globe lost internet connection, the UMI network would easily adapt to new conditions and keep working.

UMI vs Bitcoin

Now let's compare the UMI network with the first-ever created cryptocurrency––Bitcoin. It has proved itself to be a reliable payment system, with a number of significant disadvantages, though. Let's focus on the most essential ones.

1. The transaction processing capacity of the bitcoin network is limited by the network itself. In the best-case scenario, it takes users several tens of minutes to receive their funds. However, quite often there is a several-hour, or even several-day, delay.
2. High fees. When the network is experiencing an increased load, transfer fees can skyrocket immensely. In 2017, there were cases where Bitcoin transaction fee reached a high of around $40. Under normal conditions, it's not that bad. A few-dollar fees are common for Bitcoin users.
3. Centralized mining pools. In the pursuit of profit from mining, greed-driven participants join mining pools thus undermining the idea behind decentralization and leading to centralization. The reality is that if several leading pools unite, they will control most of the hashing power and will be able to perform a 51% attack. The attackers will be able to send nonexistent bitcoins, confirm invalid transactions, and roughly speaking, manipulate the network as they like.

Bitcoin Mining Pools Statistics Source.

The reality is that we have a slow network that creates problems for itself. Moreover, if we talk about Bitcoin in terms of programming, the Bitcoin network is more similar to physical fiat money. For this reason, any actions with the code, including the development of wallets and applications, are a tough non-typical task that only the most advanced blockchain specialists can cope with.

While using the same technologies that Bitcoin is based on, UMI betters its disadvantages and incorporates only benefits. The network doesn't limit the block processing time, but instead, do everything to shorten the processing time and increase the network capacity. Modern cryptography algorithms reduce the load on nodes, thus allowing them to process more transactions with spending less computing power. The UMI network can process 500 million transactions carried out in the Bitcoin network over 12 years in less than a week. Each transaction will be completely free.

The concept of balances UMI uses is different from that of fiat money, but has a lot in common with the idea of digital money. For this reason, using UMI is so extremely easy. In a similar way, it simplifies the process of developing and maintaining new wallets and other applications. Contributing to the UMI ecosystem's growth is extremely convenient.

So, what's the most essential? Over its 10-year history, Bitcoin has demonstrated that its implementation of the idea of decentralization doesn't work at all. This is why UMI is based on decentralization implemented in a different way. Unlike Bitcoin mining pools, users join structures that help the network grow and support its effective functioning, with no threat to its security.

UMI is something that we all already use, but much better.

Consequently, UMI is not about anything super-unique, beyond understanding and comprehension. This is about the same old money that we use on a day-to-day basis. The same financial transfers, the same deposits that we have in banks, and the same blockchain technology and decentralization that Bitcoin is based on. The only difference is that UMI implements all the above-mentioned features in a lot better and higher performing way –– which is more convenient, secure, and higher-quality. UMI is a twenty-first-century universal money tool working for the sake of all people!

UMI Blockchain Six-Level Security
 
As you likely know from our website and Whitepaper, the UMI network fully uses the blockchain technology to ensure its users with supreme security and transparency as well as to secure itself against unauthorized access. The UMI network cannot be hacked. No transaction can be canceled or forged.
 
As compared to other cryptos, the UMI network is known for a unique implementation of blockchain technology. Like other cryptocurrencies, UMI is also based on a decentralized blockchain rather than traditional servers and databases controlled by specific organizations. But the 6-level security of the blockchain distinguishes UMI from other coins and makes it the safest cryptocurrency.
 
Level 1 — a seed phrase is fully secured
 
All popular cryptocurrencies have a common downside: to run a transaction, their official nodes require you to import your private keys (wallet.dat file if you want to send BTC) or a seed phrase (if you want to send NXT or PRIZM).
 
This way, when using a node, your mnemonic phrase/private keys are transmitted to the network. It means that if there's a network attack or node holders' conspiracy, your private keys can be compromised, which undermines the key idea behind the blockchain technology –– no trust of others
 
In this regard, the UMI network applies an alternative solution. To ensure the maximum security possible, the UMI node does not require a mnemonic phrase to complete a transaction. In real fact, moreover, the network doesn't allow for executing transactions directly through a node. There are libraries/SDKs created specifically for this purpose. These tools, which are available free, significantly simplify the process of wallet and other UMI-based apps development
 
Thus, UMI nodes never transmit a seed phrase to the network, in whatever form. Secret data does not leave your device and are always kept secured. We should also remind you, just in case, UMI uses the encryption algorithm which protects the mnemonic phrase you enter to log into your UMI wallet
 
Level 2 — invalid and trash transactions are absolutely rejected
 
By using libraries, anyone can create a transaction in the UMI network, but not all transactions are approved. UMI libraries are designed to support specific standards and automatically reject, for example, invalid or trash transactions, cluttering up the network for spam purposes.
 
Imagine that
 
- there is a transaction "address A transfers 100 coins to address B". This transaction is correct and means that one person will receive a transfer from another one.
 
- But there might be another scenario: someone can send an unfair transaction (for example, send coins from an account with non-sufficient funds on it to cover the transaction) or an absolutely invalid one (jumble of symbols), which makes no sense and is not based on a programming command.
 
UMI libraries try to secure the network against the last-mentioned types of transactions by checking them against only specific standards and automatically rejecting every transaction that does not comply with the rules.
 
Level 3 — validator nodes verify all transactions
 
Unfortunately, sometimes people intending to ruin something can't be stopped. Hackers can set out to find security holes to send an invalid transaction. With this in mind, the UMI team set verifying the correctness of transactions as a key function of validator nodes.
 
In fact, this is their key task –– to verify incoming transactions against basic blockchain requirements. Therefore, if a fake or invalid transaction reaches the network in some way, a validator node will automatically reject it and won't allow it to get into the mempool, and consequently the blockchain. All “trash” that reaches the node is immediately weeded out.
 
Level 4 — master nodes re-verify transactions
 
Only after validator nodes carefully have carefully verified transactions against the basic requirements, the transactions are sent to the mempool to be checked by master nodes. Despite being part of the same network, master nodes, which are responsible for the network security, won't rely on validator nodes. They double-check each (!) transaction against all the requirements.
 
Even if bad faith users somehow compromise validator nodes, they still won't be able to trick the system. Only those transactions that are validated triply –– by the libraries, validator nodes, and master nodes –– are collected into blocks and sent to the UMI network.
 
Level 5 — master nodes check blocks
 
Even after blocks have been added to the network, they are double-checked again by master nodes. Only after a block goes through the final verification of all parameters, it "gets approval" and included in the network.
 
Level 6 — unique security model detects malicious master nodes
 
Master nodes ensure the correctness of a block and all the transactions it includes. However, in theory at least, the keys granting access to master nodes may fall into the wrong hands. For example, they may be stolen or whatever else may happen to them. Therefore, there are a lot of master nodes on the network. They are located around the world on different continents, while access keys to them are distributed amongst different people.
 
Other cryptocurrencies use the tactic of trusting the majority master nodes to secure themselves against being compromised. Assume that:
 
- There are 100 master nodes in total.
- Those approved by at least 51 master nodes (51%) are considered valid.
 
The idea is that with the proper functioning of most master nodes, a loss of several keys will be not crucial. Nonetheless, that system has a significant downside –– the network risks falling victim to 51% attack. Decide for yourself: if attackers access and control most master nodes, they could relay invalid or falsified transactions to the network.
 
UMI uses a disparate approach. Not only a few, but even most of the master node keys lost do not pose any threat to the network. Because each (!) master node checks an incoming block against all (!) of the rules. In other words, if someone obtains the secret keys to most master nodes, creates an incorrect block, and tries to send it to the network, the block will be immediately rejected and blacklisted, while the nodes that signed it will be blocked. Thus, an incorrect and fake transaction can get into the UMI network only if approved by ALL master nodes (100%) instead of 51% as in the case with other cryptocurrencies.
 
Six-level security of the UMI blockchain provides this cryptocurrency with the best ever protection which has never been seen before. That is because the UMI team considers the security of users' coins as a priority.
 
We wish you a pleasant experience using our product.
Sincerely yours, UMI team