Unobtanium: The Rare Cryptocurrency

Unobtanium: The Rare Cryptocurrency

You probably have never heard of Unobtanium. This is a rather obscure cryptocurrency because it is very rare. It uses proof-of-work algorithm and it i

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You probably have never heard of Unobtanium. This is a rather obscure cryptocurrency because it is very rare. It uses proof-of-work algorithm and it is known for its low inflation, scarcity, a fair launch and distribution. Just 250,000 Uno coins are said that will ever be mined over 300 years.

However, this cryptocurrency exists since 2013 and since then it has not experienced any price fluctuations, due to which it can interest investors and traders. Appearing on December 21, 2013, with a market capitalization in the area of 5.35 million dollars with an initial price of about 0.0082 bitcoins, after several primary bursts, quickly acquired a long-term stability between 0.0025 and 0.0095 bitcoins. In recent days, however, the fluctuations of the cryptocurrency have slightly increased, and the long-awaited growth and inevitable correction have begun.

A cryptocurrency that has been attracting consideration and investors as it turns better known is Unobtanium, which trades on burses as UNO. Named for a fictional element that is hard or impossible to obtain, Unobtanium seems at first like any other Bitcoin clone currency. On closer research, there are some features that make Unobtanium among the more amusing experiments on the crypto-currency scenery, and one worth watching tightly.

Unobtanium’s developers launched the currency openly, giving everyone who wanted to take part advance notice of the coin’s release. This is called a “Fair Start” in the diction and is actually quite a rare incident for new currencies. “Pre-mining” occurs when developers or a certain group of people have an unjust opportunity to gain coins through the software mining method before the general public has the same possibility. Many popular and failed cryptocurrencies have been pre-mined. The reasons for pre-mining include the concept that a certain rate of the total coins should be held back to offset developers, reward developers who create new services on the Internet with the coin, and to trade the coin. Some claim that pre-mining is unethical, establishing the potential for a minor group to acquire vast amounts of coins, enabling them to artificially affect the price of the coin.

Another feature of Unobtanium is its scarcity and limited emission. Only 196,875 Proof of Work Unо will be mined before .0001 minimum block subsidies take impact at block 612,000. The maximal number of UNO coins that can be issued is only 250,000 UNO.

At the moment, Unobtanium is traded on platforms and markets such as Cryptsy, MintPal, Allcrypt, Coins-e, and some others, and on all of them, its stability is undeniable. The popular exchange service ShapeShift also integrated Unobtanium into its services. As it spreads, the picture of the behavior becomes clearer, but so far it looks quite stable against the background of the existing cryptocurrencies. More information about the cryptocurrency can be found on the official website: http://unobtanium.uno/

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