UnitedBitcoin (UB for short) is a derivative of Bitcoin at block 498,777 on December 12, 2017. UB's network is 100% inherited from Bitcoin. UnitedBitcoin's ticker symbol is UBTC.UnitedBitcoin aims to realize and deliver on the promise of blockchain technology by applying its transformative power to support real-world use cases and complement global financial and payment systems.
Bit Fed has improved on the basis of Bitcoin, such as expanding the block size from 1MB to 8MB, so that the transaction volume that can be processed by each block has increased from 7TPS to 60TPS. These will continue to improve as technology advances.BitFed's smart contract technology supports common programming languages ​​(such as C#, Java, Lua and Kotlin), which is easier to use and has a wider application prospect.Bit Fed also launched a constant value token (UUSD) linked to legal currency to expand real-life application scenarios and application scale.

Project Vision

UnitedBitcoin will establish a credit currency system linked to legal tender, and encourage valuable blockchain development projects to support smart contracts that can serve the society. The UnitedBitcoin network 100% inherits the Bitcoin network. Active Bitcoin wallets will receive UBTC at a ratio of 1:1, while inactive wallet assets will be used to support other high-quality blockchains or other projects in the ecosystem.

Project Highlights

Asset Activation
There is no pre-mining for UnitedBitcoin, all active Bitcoins on the Bitcoin blockchain will receive an equal amount of UnitedBitcoins on the UnitedBitcoin blockchain. The definitions of active addresses and inactive addresses are defined on the "Claim UnitedBitcoin" page.
Ecosystem Support and Stability
The UnitedBitcoin Foundation manages bitcoins in inactive addresses in the bitcoin network, part of which will be locked and anchored to legal tender, and part of the funds will be used to support the ecology of cryptocurrencies system.
Fast Transactions
Increased block size to 8MB and support for Segregated Witness can greatly improve on-chain scalability. UnitedBitcoin will also add support for the Lightning Network in 2018.
Replay Protection
New transaction signatures provide replay protection so that transactions on the Bitcoin blockchain cannot be replayed on the UnitedBitcoin blockchain and vice versa.
Change Address Format
In order to prevent users from accidentally withdrawing UnitedBitcoin to a Bitcoin address, UnitedBitcoin has changed the address format for transactions.
Smart Contracts
Smart contracts are currently in beta and will be added to UnitedBitcoin transactions and will bring new possibilities to the entire network.
Lightning Network
To support payment channels and further improve on-chain scalability, UnitedBitcoin will implement the Lightning Network in the first half of 2018.
Properties under consideration
Quantum computing resistance to hashing algorithms (security).
Zero-Knowledge Proofs (Privacy and Fungibility).
Atomic swaps.

Technical Overview

The goal of UnitedBitcoin is a 100% genetic Bitcoin fork. All the split coins are kept in the same Bitcoin address as the original chain. All Bitcoins that are not considered active are unified Transferred by the genesis program into the supervised multi-signature address, partly used for eth (the first smart contract), qtum (the first bitcoin model + smart contract), ltc (the first widely spread altcoin), The distribution and rewards of other major chains such as hsr (algorithm with anti-quantum attack characteristics), and all the remaining coins are all used to mortgage and release a constant value currency similar to USDT. Simply put, no pre-mining, no reservation, full chain participation. First of all, from the perspective of the number of participants, this must be the most extensive fork, because in the past, only holding bitcoins could obtain forked bitcoins, and now buying and holding more than 10 kinds of coins such as eth, qtum, ltc, hsr is also possible. A fork can be obtained, which will lead to full participation. Logically, this is a chain that has kidnapped all mainstream currencies and trading platforms. In fact, these coins are dispersed and distributed to active participants around the world. This will be the extreme of the fork movement, which will not cause a large selling pressure, because all forks are sufficiently dispersed, which is already It is standing on the shoulders of giants, sitting on the credit of the global digital currency.
From all perspectives, the most subtle thing about UnitedBitcoin is its core idea, which is to reutilize the credit value of all dormant bitcoins for the benefit of the world. In fact, there may be even more dormant bitcoins than circulating ones, but UnitedBitcoin The way is not to simply distribute all the dormant coins, causing selling pressure, but to lock them up, and credit mortgages are stable and available credit carriers around the world, regardless of whether it is UnitedBitcoin or its stable currency system mortgaged and issued. Smart contracts are supported, which creates infinite possibilities for the real circulation of digital currency. Imagine, more than half of the value of existing bitcoins, what a large system of constant-value currency system endorsed, and the circulation of these constant-value currencies themselves, and It will bring about the value-added of UnitedBitcoin in a cycle, and this can send more constant-value currencies to the world. This cycle, just like the increase in the price of Bitcoin brought about by the fork of Bitcoin, will be a real improvement , and from the perspective of the entire system, none of UnitedBitcoin's coins are under selling pressure. This is an unbalanced game.
Or, this will prevent the Bitcoin price rise caused by the crazy fork of Bitcoin, because maybe from then on, imitators will use similar methods to break the chain fork, so that the era of the second token has come again, Of course, the second token itself may have rounds of forks, which will offset the attention of Bitcoin, but I believe that UnitedBitcoin will not only create a precedent, but will also lead the development and application of the next generation of Bitcoin.

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