Utabit is a collection of solutions for corporations and enterprises to enjoy the benefits of blockchain technology. It is created by a team of entrepreneurs and makes its official debut August 18.
It eliminates operational issues of implementing and deploying blockchain projects with its excellent features such as security, transparency, immutability and distribution. Utabit is active in many areas from cryptocurrency to gift voucher and ready to undertake the hard work, facilitating blockchain transformations.
Although many corporations and enterprises always assert that they are looking for new methods to increase optimization and performance, problems like distrust and lack of knowledge prevent them to adopt blockchain as a revolutionary technology.
Looking for an answer, Utabit is developed to wipe out all issues and assist corporations and enterprises to utilize the technology confidently and smoothly.
It uses proof of work algorithm with 80640000 coins and initial reward is 512 ubits which will be halved after each 78750 blocks. By the way, Utabit’s servers will be restarted before August 18 and no right of premining is reserved for developers.
Main features of Utabit like any other blockchain network are security, transparency, immutability and distribution, but the most important is distributed processing of data which has omitted central authorities and other intermediaries.