United fork Bitcoin (UBTC) was carried out on 498,777 block of the Bitcoin network on 12 December. The project team — Bitcoin Core developer Jeff garzik’s, his partner in the blockchain startup Bloq Matthew Rozak and founder of the platform crypto-investment BitBank, Sensu Hua promises to create a “credit monetary system tied to Vietnam currencies” and your own smart contracts.
The garzik’s says that the main idea of UBTC is to unite the entire ecosystem. While the network does not have a developed infrastructure and a large support community. Currently, only two miner mined blocks UBTC, and known only one of them Pul BW.com that owns more than 70% of hashing power. While the network is very small of users: on one block you have 20-100 transaction, a fork supported only three purse and largely unknown Asian markets. Of the major trading platforms UBTC supports exchange OKEx.
It is said that all active users of bitcoin unable to UBTC in the ratio of 1:1, but this is the most controversial side of the project. Active user who moved their money between 494,000 and 498,777 blocks. In addition, to claim a new token holder of bitcoin must go through the identification procedure by providing a valid email address and mobile phone number. As for the inactive, the project States that after a period of inactivity they will be used for further developments. In particular, the team claims to “unused” addresses Satoshi Nakamoto and other whales of the industry.