From its early days, UMI has never been an attempt to copy another cryptocurrency; it was created from scratch. One of the key tasks pursued by the developers was creation of a fully functional cryptocurrency that would be just as easy, convenient and habitual to use as conventional money.
Technically, it’s a really complex task. This is why we had to find an optimal approach for an effective solution. The system’s operational speed seems to be the most important factor for the user. For instance, if you use UMI to pay for goods at various online stores, automatic transactions will be processed immediately, just as payments via a payment terminal. Many cryptocurrencies are too slow in terms of transaction confirmation which makes it impossible to actually use them as means of payment.
To ensure robust speed of transaction processing, we had to introduce new technical requirements for master node operation. At the same time, any network users, even those without a powerful PC, can launch validator nodes. If validator nodes have insufficient resources during a peak load period, a block would be processed with a minor, non-critical delay. Validator nodes cannot generate new blocks, but they do verify each newly created block. It means that even if an owner of a master node tries to defraud the system, such a block wouldn’t be validated and the master node would be blocked.
Since, however, most network users see no point in storing the ever-growing blockchain on their device and wasting resources on validating it, we’re working on a lite version of a node — the official desktop wallet that can optionally be used as a fully functional validator node. Any user who installs the official wallet on their PC, tablet PC or phone can be sure of the authenticity of data displayed on their screens. Lite nodes will operate robustly and effectively: they’re not demanding in terms of Internet connection, do not require a lot of space, make your battery go flat or slow down your device.
Another equally important task is ensuring robust operation of both the entire system and all products of the UMI infrastructure. Many people do not live in metropolitan cities or next to cellular towers and do not have a broadband Internet connection. This is why we’ve made a point of ensuring all our products can operate under rough conditions. We grow, we select time proved tools and we don’t pursue technology for its own sake. This is how we could launch an official public API while also providing reliable protection against DDoS and other malicious uses. This, in its turn, guarantees robust and secure operation of all services for our users.
Please, let us know in the comments whether you understand ideas in the article and find them interesting. What else would you like to know more about?
Sincerely yours, UMI Team!