Crypto Currency News: Ubit Coin Claims 990 Million Coins, Major Integration

Crypto company Ubit Coin has announced reaching supply of 990 million coins and integration into 11-12 ecosystems. The Ubit Coin works on a "transfer to a null address" phenomenon. This, as per the company, means that no individual or entity can edit the code, modify transaction fees, block addresses, or rescue tokens. 

"This ensures that the code governing Ubit Coin is immutable, providing consistent and transparent rules. Transaction fees remain stable and predictable, while the inability to block addresses ensures that all transactions are conducted freely and fairly. The trustless nature of the system, with users fully responsible for their assets, is highlighted by the inability to rescue UBIT20 tokens," a release by the company said. 

By eliminating centralized risks, Ubit Coin ensures that the currency remains in the hands of its users, free from the control of any single entity, the release added. 

What is decentralization of cryptocurrency? 

Decentralization of cryptocurrency refers to the distribution of control and decision-making from a central authority (such as a single entity or organization) to a distributed network. This means that cryptocurrencies operate on decentralized networks, typically using blockchain technology, where transactions are verified and recorded by a distributed network of computers (nodes) rather than a central entity. 

Ubit Coin stands at the forefront of the decentralized revolution in the cryptocurrency space. By transferring ownership to a null address, it embodies the principles of decentralization, enhancing security and trust while paving the way for sustained growth and community-driven development.