Frequently Asked Questions

If your questions remain unanswered, feel free to contact support@ub.com and allow three business days for a response.

About UnitedBitcoin

Q
What is UnitedBitcoin?
A

UnitedBitcoin (UB for short) is a derivative from Bitcoin at block height 498,777 on December 12, 2017. UB’s network is 100% inherited from Bitcoin. UnitedBitcoin’s ticker is UBTC.

UnitedBitcoin aims to realize and fulfill the promise of blockchain technology by applying its transformative abilities to support real-world use cases and supplement global financial and payment systems.

Q
How is UnitedBitcoin different from other cryptocurrencies?
A

UB builds on the pressure-tested aspects of Bitcoin’s original technology such as increasing the block sizes from 1MB to 8MB and the number of transactions each block can support from 7 to 60 per second. This is expected to change as the technology improves.

UnitedBitcoin has launched smart contracts (supporting programming in popular languages such as C#, Java, Lua, and Kotlin) to improve usability and accessibility and encourage widespread adoption of smart contracts.

To further boost scalability and real-world usage, UB has also launched a stable coin (UUSD) pegged at a 1:1 ratio to fiat currencies.

Q
How secure is UBTC?
A
UBTC transactions occur and are recorded on the blockchain. The software that maintains the UB wallet is open source and continually executes on a distributed network of servers operated by a variety of organizations. The open source code base actively develops and maintains reliability.
Q
Can UnitedBitcoin freeze, view, or monitor UBTC transactions?
A
No party can freeze UBTC, including UnitedBitcoin. All transaction on the UBTC blockchain are public.
Q
Is UBTC a centralized cryptocurrency?
A

UBTC is not centralized. This is the top misconception regarding UBTC.

Centralization implies that a single entity controls UBTC. While the UB project contributes to the open source code of UBTC, we don’t own, control, or administer it. UBTC is a decentralized cryptocurrency.

UnitedBitcoin has an interest in supporting UBTC for several reasons, including contributing to long-term strategy and encouraging the use of UBTC as a liquidity tool in the community and enable the ecosystem to grow.

Q
Can UnitedBitcoin create more UBTC?
A
Since UBTC was forked from another cryptocurrency, the UBTC supply in circulation will not exceed 20,166,000 coins.
Q
How can I buy UBTC?
A

UBTC is available for purchase on 18 digital asset exchanges worldwide and is increasing gradually. Every exchange has a different process for purchasing UBTC.

Please note that UB does not endorse, recommend, or make any representations with respect to the gateways and exchanges that appear on these exchanges; if you have a question about your UBTC purchase, please contact the relevant exchange directly.

Q
I held BTC at the time of the fork. How much UBTC will I receive?
A
All bitcoin holders were entitled to receive UBTC at a ratio of 1:1. Please read Get UnitedBitcoin for full details of the distribution.
Q
Which wallets and exchanges support UBTC?
A

A list of wallets and exchanges that support UBTC can be found on the Ecosystem page.

UnitedBitcoin does not endorse, recommend, or make any representations with respect to digital wallets. It is advisable to always conduct due diligence before trusting any third-party or third-party technology.

Q
I have not claimed my UBTC. Will I still receive my UBTC?
A
Phase 1, Phase 2, and Phase 2 Grace Period are all now closed. If you have an exceptional circumstance, please contact us at support@ub.com.
Q
How can I withdraw my UBTC?
A
It depends where you hold your UBTC. If the UBTC is held on your account on UB.com, there is a simple withdraw button. Otherwise follow the relevant steps on the exchange or wallet you are using to store your UBTC.

About Smart Contracts UVM

Q
Why do we need smart contract support?
A
Smart contracts can add unlimited application scenarios to UnitedBitcoin, which can greatly expand the value of its use.
Q
Why not use technologies such as EVM?
A
EVM was created specifically for ETH, and is a new language. As for UVM, based on LUA, LUA is a relatively mature language, both in terms of security and stability and has had more time to be tested in real-life applications. It is also faster than EVM based solutions.
Q
What’s next for UVM and smart contracts?
A
UVM will add support for C# and JAVA and UnitedBitcoin will release an IDEA to facilitate the development of smart contracts.
Q
Are there any technical obstacles when using PoW for smart-contracts?
A
A common problem with smart contracts and the PoW consensus mechanism is related to the Turing completeness of the smart contract virtual machine and the (predictability of) execution time of contracts.We have implemented the necessary mechanisms to counter this potential problem.

Block-size increase to 8 MB and SegWit support

Q
Why increase the block-size to 8MB and support SegWit?
A
To facilitate faster transactions. We believe 8MB is an appropriate balance when looking at both the advantages and disadvantages of such an increase.