A lot of people who hold Bitcoin cryptocurrency are waiting for forks to happen to receive new coins for free. The new hard fork under the name UnitedBitcoin is announced to occur on December 12.
UnitedBitcoin hard fork logo
UnitedBitcoins’ s philosophy is to fork Bitcoin and upgrade the resulting network. All active Bitcoin addresses will receive corresponding balances on UnitedBitcoin’s chain. Balances of inactive addresses will be collected and used to serve the community.
Will UnitedBitcoin Replace Bitcoin? The Ambitious Upcoming Bitcoin Fork Will Be Launched Globally on December 12, 2017 in Silicon Valley
— UnitedBitcoin (@United_Bitcoin) 8 December 2017
UnitedBitcoin is stated to be the upgrade of Bitcoin implementing smart contracts. The features are listed as follows:
- Proof-of-Work inherited from Bitcoin with brand new high-speed smart contracts
- Faster transactions through the Lightning network
- Asset Allocation of active addresses (1 Bitcoin = 1 UnitedBitcoin)
- No-premining, stable system with fiat currency pegged reserves
- Block-size increase to 8 MB and support for SegWit
- The fork will take place at BTC block height #498777
- It will be possible to get UnitedBitcoins not only for Bitcoin holders, but also for the holders of one of more than 10 currencies (such as ETH, QTUM, LTC, HSR, etc.)
The blueprint of Bitcoin forks
The technical team presented on the official website of UnitedBitcoin looks outstanding including such major characters as Jeff Garzik, Matthew Roszak, Marco Ferreira.
United Bitcoin technical team
UnitedBitcoin will fork from Bitcoin blockchain at block height #498,777 at around 12 a. m. Central Time on December 12 of 2017. Addresses that have been active in the last 30 days will receive the equivalent amount of UnitedBitcoin after the fork, while addresses that have been inactive can claim UnitedBitcoin in Phase #2, which will last until January 3 of 2018.