What is Unobtanium (UNO)?
Future of UNO Cryptocurrency and know how to buy UNO

#1: What is UNO?

UNO: The Basics

Much like its namesake, Unobtanium aims to be a ‘rare’ cryptocurrency, with a very limited number of UNO coins available for mining. It is a coin with a fair distribution model, with no premine or ICO being held. The maximum cap of UNO coins is merely 250,000, which makes scarcity its most unique feature.

UNO Development

  1. Unobtanium is a fork of the BTC blockchain technology, and had a fair launch on the 18th of October, 2013.
  2. Its founder goes by the pseudonym of BLAZR2, while its lead developer is Bryce Weiner. A fair launch meant that absolutely no portion of the coin was premined, nor was there any ICO for UNO.

 

#2: What are the benefits of Unobtanium?

UNO Technology

  1. Proof of Work - The proof-of-work consensus mechanism utilises device hashing power to solve a complex mathematical problem in order to authenticate a transaction proposed to be stored in the blockchain. The difficulty of solving the problem ensures that authenticating forged transactions is very difficult, unless the attacker owns an impractically large chunk of the network’s total hashing power. UNO also uses the same hashing algorithm as bitcoin, the SHA-256 algorithm.
  2. Kimono Gravity Well difficulty-readjustment - The KGW difficulty adjustment algorithm was originally developed by Dr. Kimoto Chan for the Megacoin cryptocurrency. It allowed UNO to be mined with a very high difficulty right from the start. The block reward halves every 100,000 blocks. Due to the unique algorithm of UNO, the last 50,000 blocks will take nearly 300 years to be completely mined. This makes UNO one of the rarest coins to hold, and protects its users from inflation in a declining market.

Key Features

  1. Unique Value Proposition - UNO uses scarcity and high difficulty blocks to retain value even in a fluctuating market, with the small number of coins ensuring continued high valuations with respect to other altcoins. This ensures that holders of UNO will retain the value of their UNO coins assets even if other cryptocurrencies slowly start declining. This is much like the concept of the long-term storing of assets in the form of precious metals like gold or silver, instead of fiat currency.
  2. Stability and Consistency - UNO aims to be to cryptocurrency what gold is to fiat currency. That is, a stable, consistent, scarce, yet highly valuable, and easily transferable form of value. Just like gold enables sharing of assets in a concise and fluid manner, UNO, being a cryptocurrency, also adds security and irrefutability to transactions, making it a valuable coin to hold.
  3. Unique Distribution Schedule - UNO had no premine or ICO. This means that there is no danger of the developer, or some other early adopter, withholding a large chunk of UNO, compromising the fairness and market stability of UNO. The first 2000 blocks mined had a reward of .001 to give more miners time to adjust their equipment for optimizing the mining of UNO blocks, with the difficulty being readjusted and the rewards halving every 100,000 blocks.
  4. Merged mining - Since May 2015, UNO’s blockchain was updated to allow merged mining with the Bitcoin blockchain. This allows any BTC miner to also simultaneously mine UNO coins as well. This not only allows the BTC miner to earn more for the hashing power they donate to the network, in the form of UNO coins, but also greatly increases the security of the blockchain.

 

#3: How to Buy & store Unobtanium?

How to buy Unobtanium

  1. Unobtanium can be bought at exchanges such as Cryptopia, Bleutrade, C-CEX, and CoinExchange.io, with Cryptopia being the largest by volume.
  1. UNO coins can also be mined. A list of mining clients and mining pools can be found on the official website[1].

UNO Wallet

The UNO wallet can be downloaded from their official website[2]. Since UNO is based on BTC, any wallet that supports multiple coins including BTC, such as Coinomi, or hardware wallets like the Ledger Nano S can be used as well.

CoinSwitch

While cryptocurrency exchanges provide you with a platform to buy or sell the UNO cryptocurrency, CoinSwitch, the largest cryptocurrency exchange platform, comes in to help you make the right decision by providing the prices for UNO on multiple crypto exchanges. With support for more than 140 coins and 45,000 pairs of cryptocurrencies, you can choose whichever pair you want with your token and compare the prices at multiple exchanges. This way, you can choose the best deal for you!

What’s more - with CoinSwitch, you do not rely on a separate UNO wallet from the exchange to store your UNO cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

 

#4: What is the future of Unobtanium?

Also Read: Complete Analysis of Unobtanium | Live Unobtanium (UNO) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 01, 2018

165.84

166.23

157.96

161.79

10318

32979000

Apr 01, 2018

140.02

141.43

127.52

129.72

28866

27783500

Dec 01, 2017

77.58

82.77

73.15

79.3

24179

15349500

May 01, 2017

11.42

12

11.1

11.48

40953

2258110

Dec 01, 2016

1.94

2.02

1.87

1.89

741

383434

Jul 01, 2016

2.49

2.53

2.29

2.44

1320

491240

Nov 01, 2015

1.36

1.66

1.36

1.53

2052

267175

Feb 01, 2015

2.76

3.04

2.51

2.88

2579

533495

Jul 01, 2014

2.08

2.63

1.96

2.39

430

393428

Jan 01, 2014

7.13

7.25

6.25

6.48

11087

816254

  1. Thanks to precautionary measures taken against inflation, UNO has had a very stable long-term graph, with expected little fluctuations according to the entire cryptocurrency market.
  2. Its extremely low maximum coin cap and scarcity means that valuation for UNO always remains much higher than most other generic altcoins.
  3. As the maximum cap of UNO is approached, it is expected prices will go up, due to the resulting rise in demand.

 

#5: How is Unobtanium different from other cryptos?

  1. Innovative purpose - Unobtanium is one of the few cryptocurrencies that actually seems to be meant for long-term holding and investment, instead of aiming to be used for regular transactions. The scarcity and difficulty of obtaining or mining UNO mean that will be inflation resisant, and will continue to retain its value even in a declining market.
  2. Niche market appeal - UNO is like a limited edition cryptocurrency, a collectible of sorts. UNO isn’t meant to be traded, instead, it’s meant to act like a valuable, and rare, representation of value, meant to be stored as an asset in the long run, very similar to how gold is used for investment purposes. UNO has gained a rather large following for a coin of its size, simply due to the scarcity of coins available, and their projected value in the future, appealing to collectors who intend to invest in UNO for a long-term period.

 

#6: Should you invest in Unobtanium?

  1. While still being a relatively small altcoin, the scarce nature of UNO coins means that prices are much higher than most other generic altcoins. With a small maximum number of coins available, it is likely prices will continue to rise.
  2. UNO seems tailor-made for investing, imitating real-world precious metals, such as gold, in their scarcity and perceived value. UNO aims to be the ‘precious metal’ of the cryptocurrency world.
  3. While investing in any cryptocurrency is subject to their inherent volatile nature, the unique collectible nature of Unobtanium makes it an interesting choice for investment considerations.
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