Ubiq (AKA UBQ) is known as an open-source platform distributed publicly, offering valuable scripting capabilities. The Ubiq network is designed to provide users with a blockchain for the hosting of Ethereum Virtual Machine, and implements a virtual machine (decentralized) allowing for the production of contracts and/or tokens.
As well as this, Ubiq tokens can be created via Jumbucks’ (JBS) transfer value on blockchains courtesy of Ethereum. This provides EVM functionality in the blockchain which is subject to various forms of segregation (political, conceptual, technological) from Ethereum or Ethereum Classic.
Ubiq was worked on by numerous experienced professionals, including Julian Yap, a systems engineer known for being involved with projects for Bittrex and Blocktech. Also, Iquidus Explorer developer Luke Williams, Block Talk host Alex Sterk, and developer of blockchains Kris Hansen have all been active with Ubiq.
The Ubiq Policy
Ubiq has created a monetary policy (as Bitcoin did) to keep control of its tokens’ rate of inflation. Within its initial year, this rate stood at 8 UBQ/block, and the average block time reached 88 seconds.
But the Ubiq monetary policy aims to reduce inflation by one block once certain dates and numbers have been reached.