![]() ![]() The UMI blockchain is based on Proof-of-Authority technology, a concept created by Ethereum co-founder Gavin Wood. This has been achieved by the unique technology on which the ecosystem is built, as well as a different economic model in comparison to other popular cryptocurrencies. The UMI team is currently developing it.Īlthough, the main feature of the UMI blockchain is not the network’s capacity, but the absence of any fees. Technically, the UMI ecosystem is already capable of sending offline transactions without the Internet connection, but the service for initiating transfers has not been launched yet. This is convenient if the transfer needs to be sent urgently, and the Internet is temporarily not accessible. The standard length of an SMS is 1120 bits (140 bytes), which means that only 2 SMS are required to send a transfer through the UMI blockchain. ![]() ![]() See also Nirmala Sitharaman announces economic relief packagesįor example, the length of a UMI transaction is 150 bytes.
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