FAQ - Top 10 Frequently Asked Questions about Universa
Russian community is at https://t.me/universa
1) Question – What is the difference between Universa and other blockchain platforms?
Answer – Nowadays there are two main public blockchain platforms in the world (Bitcoin and Ethereum). Bitcoin is considered to be “a digital gold”, that’s why, it’s blockchain transaction cost is very high. Moreover, Bitcoin blockchain platform provides slow transactions. Ethereum is a decentralized investment bank for ICO / DAO. Ethereum Blockchain Platform has smart contracts which can reference its addresses, but this blockchain platform provides slow transactions too. In addition, the cost of transactions will increase, because Ethereum price continues to grow. These platforms can’t satisfy the need of everyday usage, smart home automation, airbnb, carsharing and tokenization of everything that requires decentralization and transformation to the blockchain system. Now the world needs new blockchain platform that can provide fast and cheap transactions, so that’s what we do. Universa has a simple protocol that allows to tokenize any process. For example, it helps to build a smart contract that can check balance on your bank account or determine the weather. It also can operate with any other blockchain platforms and IT systems data. Now Universa is capable of handling 20,000 transactions per second. It is enough to carry out a trade.
2) Question – Does Universa have any competitors on the market?
Answer - Yes, Universa has a several number of competitors, for example, Tezos, but this project has not been fully worked out yet. Now we have some time to become one of the first 3-4 companies that provide fast and cheap blockchain of a new generation. Later when companies and countries decide to widely use blockchain system in economics, they will have to choose between these 3-4 projects.
3) Question – Does Universa provides cryptocurrency mining?
Answer – No, the project doesn’t depend on cryptocurrency mining.
4) Question –When it is possible to buy tokens?
Answer – Tokens could be bought during the ICO, which starts on October 28.
5) Question – How much 1UTN costs?
Answer – According to the last WP update, 1UTN costs $ 0.01.
6) Question – Not long ago 1UTN cost 10$, now 1UTN costs $ 0.01. What is the reason for recalculation?
Answer – On the latest WP update, 1UTN token own value was recalculated to easier use it as the utility token: it is much easier to consider “1UTN is around the cost of single transaction/operation “ than “1UTN is around the cost of 1000 transactions”.
7) Question – When can I withdraw my tokens?
Answer – It will be possible to withdraw tokens when ICO is finished.
8) Question – How can I buy tokens?
Answer - Tokens could be bought during ICO for cryptocurrency. Soon we are going to publish a special guide describing how to buy cryptocurrency for fiat money.
9)Question - What are stakes? Can we say that…stakes are equal to …$?
Answer - Stakes are not exactly equal to anything. Stakes will be counted, when bounty program ends. For example, if two people take part in the same bounty program, and one participant for the entire period gets 95 stakes, and the second one gets 5 stakes, so as a result the first participant will receive 95% of the budget and the second participant will receive 5% of a budget At the same time, if 3 people take part at the same bounty program, and the third participant earns 100 stakes, so as a result the third participant will receive 50% of the budget, the first participant will receive ~ 48%, and the second one - 2%.
10) Question - Does the project have a hardcap?
Answer - Yes, we have set a hardcap at 99 000 000$