Abstract
Uniform Fiscal Object The original idea of a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution was introduced by Bitcoin’s author Satoshi Nakamoto in his Bitcoin white-paper [9]. UFO implements the idea of being a younger brother of Bitcoin:
decentralized,
• PoW mined,
• up to date codebase,
• ASIC resistant,
• well-suited for learning the blockchain – it is much faster, learning costs are barely affected
by the Bitcoin price movements.
Uniform Fiscal Object After a few years of Bitcoin blockchain, UFO blockchain was created in 2014 as an alternative solution to some issues that growing Bitcoin popularity has discovered. While based completely on Bitcoin’s code base, it introduced an ASIC-resistant Neoscrypt algorithm, faster transactions, Automatic Checkpoint Protection (ACP) to protect the history of the chain and native Segwit support to keep the UFO blockchain up to date with the Bitcoin’s latest features.
Introduction
Uniform Fiscal Object Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely nonreversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non- reversible services.
Uniform Fiscal Object Point Table
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