Unobtanium .. a brief intro

bitcoinnational (55)in #uno • 8 years ago (edited)

Unobtanium fair rare and square

Unobtanium, or Uno, or Un was the first crypto-commodity. This means that UNO intended to be limited in number while still having high hash required to protect the network.

The briefest way to describe Uno is that it is Bitcoin but 'elite'. It rides on the bitcoin network and code, thus is underwritten by the bitcoin core developers. It differs from bitcoin in that the blocks move x3 faster, and the inflation is already reduced to under 3 coins per day. The only way Uno can fail is if Bitcoin fails, which is very doubtful for a $9 Billion dollar enterprise with 100M transactions.

Uno is a rare, fair, SHA256d, pure Proof of Work crypto-currency, with fast 3 minute block targets and KGW difficulty adjustments every block. It was fairly launched October 18, 2013 by Blazr2. And was exposed to the open market from the go, it hit a high of $18/kilogram but has settled into the $1.50 - $3.50 range for the last 24 months.

There was no pre-mine of Unobtanium, not even a single block, and no IPO. There is no POS inflation. The launch was an undisputed fair start, with low rewards of .001 Un the first 2000 blocks to give all miners a fair shot. Unobtanium's blockchain (aka "The Rockchain") has been consistently mined at high difficulty since it's launch.

Block rewards began with 1 coin per block, halving every 100,000 blocks and finishing with a minimum subsidy of .00001 Un. The final 250,000th Un will be mined in about 300 years.

UNO mining eras
reward = 1/kilo per block (era1)
reward = 0.5/kilo per block (era2)
reward = 0.25/kilo per block (era3)
reward = 0.125/kilo per block (era4)
reward = 0.0625/kilo per block (era5)
reward = 0.0312/kilo per block (era6)
reward = 0.015/kilo per block (era7)
reward = 0.0075/kilo per block (era8)
reward = 0.0039/kilo per block (era9) *Uno is here and BTC has just started their era3

Un is often referred to as a crypto-commodity due to it's rarity and desirability, and it's tendency to hold it's value even in a declining Bitcoin market. Many merchants can accept Un for variety of products through CoinPayments.net, or directly. Uno has an active community, a trust-based exchange, a secure merged mined blockchain.

Take a look at Unobtanium, and you'll quickly see that it is set apart from other cryptocurrencies in important ways, including low inflation, community, longevity, fairness, rareness, distribution, simplicity, security, and optimism. Uno is a different kind of cryptocurrency, and is well on its way to becoming the first cryptocurrency desired as a non-asset backed commodity.

Merged Mining
Uno implemented merge mining with Bitcoin at block 600,000 in May, 2015. Merge mining allows a Bitcoin miners to also mine for Uno. As a result the security of Uno's blockchain increased significantly. Bitcoin miners earn more for their hash, while contributing to the security of Uno's blockchain. Miners will continue to receive Uno block rewards for the next 300 years.

Developers
Bryce Weiner, Lead
Blazr2, UNO Founder
Other SHA256 Devs are welcome to contribute.

Community
Bitcointalk https://bitcointalk.org/index.php?topic=527500.msg5855391#msg5855391
CryptocoinTalk https://cryptocointalk.com/topic/1418-unobtanium-uno-information/
Cryptopia Forum https://www.cryptopia.co.nz/Forum/Thread/644
Reddit http://www.reddit.com/r/unobtanium
Steemit https://steemit.com/trending30/uno
Twitter https://twitter.com/unobtanium_uno
Tumblr http://unobtaniumuno.tumblr.com
UNO Launch https://bitcointalk.org/index.php?topic=313126.msg3358654#msg3358654
UNO Backups https://bitcointalk.org/index.php?topic=856162
UNO "Off Topic" https://bitcointalk.org/index.php?topic=881433.new#new
UNO Merge Mining https://bitcointalk.org/index.php?topic=1398077
UNO] price speculation https://bitcointalk.org/index.php?topic=1577545.0