AMA Recap: CRYPTO MINERS x UMAREUM

Umareum provides the most lightning-fast, decentralized, scalable, open-source Layer-1 and smart contract platform compatible with the Ethereum Virtual Machine (EVM). It employs Proof-of-Work consensus and utilizes blockDAG technology, incorporating numerous groundbreaking technical advancements.

• Native EVM Integration in blockDAG
• PoW blockDAG
• Dynamic blockDAG Proposal Rate
• True Finality in blockDAG

These advancements provide Umareum with exceptional scalability without compromising security or decentralization. This sets the stage for the transition from blockchain to blockDAG as the next infrastructure upgrade. Umareum’s active community has been independently developing DeFi and social analytics dApps, even during the market downturn. Simultaneously, the development team is committed to raising awareness, fostering adoption, creating demonstrative dApps, and enhancing essential infrastructure technologies like cross-chain bridging.

We hosted an AMA session with Umareum on 23rd December.

Mr. Ramsy was the host from Crypto Miners and Mr. Dave Malone, Founder of Umareum was the guest and he shared great insights and useful information about Umareum.
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Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 Welcome to Our Another AMA Session With Umareum

Today, we are very honored to invite Mr. Dave Malone To be our guest in our today’s session to introduce Umareum

Hey Dave

Dave Malone:
Heyyy

It’s great to be here!!!

Ramsy | Crypto Miners:
Welcome here mate

Thanks for joining with us today

Dave Malone:
I am honored!!

Ramsy | Crypto Miners:
First of all can you introduce yourself to us?

Dave Malone:
Greetings, I’m Dave, the founder of the Umareum project. My journey into the world of cryptocurrencies has spanned seven years, during which I’ve delved deep into this dynamic space. Along the way, I’ve initiated several startups in the realms of IoT and mobile health. Additionally, I’ve gained valuable experience through a career in strategy consulting. Throughout my professional odyssey, I’ve had the privilege of collaborating with and offering guidance to over 20 diverse projects, each presenting its own set of unique challenges and opportunities.

At Umareum, I am privileged to serve as the CEO of the project. My responsibilities primarily involve spearheading the development of features and functionalities that enhance the value Umareum offers to its users.

Ramsy | Crypto Miners:
Glad to have you today Dave 🤝

Now let’s begin our first part of the session — Project introduction

Are you ready mate?

Dave Malone:
Yes, sure

Ramsy | Crypto Miners:
1. Could you make a brief introduction about Umareum? How Umareum playing it’s role in blockchain space?

Dave Malone:
Certainly. Let me provide a concise introduction to Umareum, along with some use cases and our technology.

Umareum is designed to address the challenge of tracking informal transactions, reducing the associated costs and risks of confusion and disputes. A significant portion, over 80%, of global transactions are informal, undocumented, and unverifiable, leading to costly complications. Umareum employs inline capturing and audit logging to instill trust and seamlessness into these transactions.

At Umareum, we take a comprehensive approach to drive blockchain adoption. We develop both Layer-1 infrastructure and applications because customization of Layer-1 is essential to meet application needs. Moreover, to build a thriving Layer-1 ecosystem, we prove the commercial viability of our applications.

Our Layer-1 protocol introduces several technical innovations, including a block DAG topology for high throughput without compromising security, asynchronous true finality for optimized executional layers, and VDF/VRF to emulate PoW’s fair delay without excessive energy consumption, among others. We are dedicated to advancing blockchain technology and solving real-world problems with our solutions.

Ramsy | Crypto Miners:
Thank you for providing such a comprehensive overview of Umareum. It’s impressive to see the focus on addressing the challenges of informal transactions and the innovative technical features of the layer 1 protocol 👍

Now let’s see our second question from this segment

2. What are the main features and services of Umareum that makes it special as comparing other chains?

Dave Malone:
The inception of Umareum was inspired by a critical realization about the challenges faced in the world today: the lack of reliable and trustworthy data. This issue is particularly prevalent in informal transactions, which make up a significant portion of global economic activities. Informal agreements and exchanges of value are often conducted via various messaging platforms, leaving no verifiable record and leading to disputes, confusion, and inefficiency.

Umareum was born with a mission to address this fundamental problem. Its core purpose is to track informal transactions and transform them into trusted and seamless interactions. To achieve this, Umareum leverages blockchain technology to provide a reliable record of these informal transactions, effectively reducing costs and mitigating the risks associated with disputes.

Now, let’s delve into the distinctive features and advantages that set Umareum apart from other Layer-1 projects in the blockchain industry:

Block DAG Topology: Umareum employs a unique block DAG topology. Unlike traditional single-chained networks, this topology allows for high throughput without compromising security or decentralization. It enables the network to handle a massive number of transactions efficiently, making it suitable for a wide range of use cases.

Asynchronous True Finality: Umareum’s blockchain offers asynchronous true finality. This means that transactions are confirmed in a matter of seconds and are never reversed. This feature ensures rapid transaction confirmations without sacrificing security, making it ideal for applications that require instant settlement.

VDF/VRF Algorithms: Umareum has integrated Verifiable Delay Functions (VDF) and Verifiable Random Functions (VRF) into its protocol. These algorithms replicate the security, decentralization, and provable randomness of Proof of Work (PoW) without the excessive energy consumption associated with traditional PoW consensus mechanisms.

Customization and Scalability: Umareum’s Layer-1 infrastructure is designed to be highly customizable to meet the specific needs of various applications. This flexibility allows developers to tailor the blockchain to their requirements while maintaining the benefits of Umareum’s core technology.

In summary, Umareum stands out in the blockchain industry due to its focus on addressing the fundamental issue of data reliability and trust in informal transactions. Its innovative block DAG topology, asynchronous true finality, and integration of VDF/VRF algorithms demonstrate its commitment to scalability, security, and sustainability. Additionally, Umareum’s full-stack approach and practical application platforms differentiate it from other Layer-1 projects by providing real-world solutions and demonstrating commercial viability.

Ramsy | Crypto Miners:
3. What facilities and services Umareum provides to developers so that they can build on Umareum Chain?

Dave Malone:
Umareum provides a range of facilities and services to developers to encourage building on the Umareum Chain:

EVM Compatibility: Umareum is fully compatible with the Ethereum Virtual Machine (EVM). This means that developers familiar with Ethereum can easily port their existing smart contracts and decentralized applications (dApps) to Umareum, reducing the learning curve.

Developer Tools: Umareum offers a suite of developer tools, including SDKs (Software Development Kits), APIs (Application Programming Interfaces), and documentation to simplify the development process and make it more accessible to developers.

Scalable Infrastructure: Umareum’s Layer 1 blockchain protocol is designed to mitigate scalability issues. It leverages a Directed Acyclic Graph (DAG) topology to enhance scalability as the network expands. This means developers can build high-throughput applications without compromising on security or decentralization.

Audit Logs: Umareum provides audit logging facilities for informal transactions, agreements, and data. This makes it easier for developers to create trustworthy and transparent applications by leveraging the captured and verifiable data.

Smart Contract Support: Developers can create and deploy smart contracts on the Umareum Chain. These smart contracts can execute complex logic and automate processes within dApps.

Overall, Umareum aims to provide developers with a robust and versatile environment for building blockchain-based applications, while also ensuring scalability, security, and decentralization. This combination of features and support services makes Umareum an attractive platform for developers looking to create blockchain solutions.

Ramsy | Crypto Miners:
4. What are the scalability and performance capabilities of the Umareum Chain?

Dave Malone:
The Umareum Chain boasts impressive scalability and performance capabilities, making it a robust choice for blockchain applications. Here are some key aspects of its scalability and performance:

High Throughput: Umareum can process a high number of transactions per second (TPS). It is designed to achieve a throughput of over 10,000 TPS without compromising security or decentralization. This high throughput is essential for supporting applications with heavy transaction volumes, such as decentralized exchanges and payment systems.

Scalable Architecture: Umareum employs a Directed Acyclic Graph (DAG) topology, which enhances scalability as the network expands. Traditional linear chain blockchains can face limitations when it comes to scaling, but Umareum’s DAG structure allows it to scale efficiently as more nodes and transactions join the network.

Instant Finality: Umareum offers swift finality, achieving block finality in just 5 seconds. This rapid confirmation of transactions ensures that users experience minimal delays when interacting with dApps or conducting transactions on the network.

Optimized Resource Usage: Umareum is designed with energy efficiency in mind. It employs algorithms that optimize energy usage, reducing the carbon footprint associated with Proof of Work (PoW) consensus mechanisms. This focus on resource efficiency ensures sustainability while maintaining network security.

Parallel Processing: Umareum implements parallel processing through a concurrent virtual machine. This allows smart contracts to run in parallel, significantly increasing the network’s overall throughput. It minimizes execution bottlenecks and ensures efficient transaction processing.

Flexible Upgrades: Umareum is architected for adaptability. Its PoW mechanism is designed to accommodate potential upgrades, ensuring that the network remains at the forefront of blockchain technology. This adaptability allows Umareum to evolve and address changing scalability and performance requirements.

In summary, Umareum’s scalability and performance capabilities position it as a powerful blockchain solution. Its ability to handle high transaction volumes, provide swift finality, optimize resource usage, and support parallel processing makes it suitable for a wide range of applications, including decentralized finance, gaming, supply chain management, and more.

Ramsy | Crypto Miners:
5. Now share about the native token $UMAREUM what are its usecases and utilities in Your ecosystem? Also provide with us the tokenomics

Dave Malone:
Certainly, let’s delve into the role of the $UMAREUM token within the UMAREUM Ecosystem and explore its tokenomics and utility.

The $UMAREUM token serves as the lifeblood of the UMAREUM network, playing a pivotal role in facilitating various ecosystem functions and incentivizing user engagement. It embodies UMAREUM’s value proposition and is designed to offer a seamless and efficient experience for participants.

Token Utility:
Gas Fees: Similar to other blockchain networks, $UMAREUM is used to pay transaction fees on the LiquidLayer blockchain. Whether it’s a straightforward transfer, executing a smart contract, or engaging with decentralized applications (dApps), $UMAREUM serves as the medium of exchange for transaction fees.

Staking Rewards: $UMAREUM holders have the opportunity to participate in governance and earn rewards by staking their tokens. This aligns incentives within the UMAREUM community and rewards those who actively contribute to the network’s security and decision-making.

Governance: UMAREUM operates with a decentralized governance model, allowing $UMAREUM token holders to have a say in shaping the network’s future. Token-based governance ensures that the UMAREUM community has a voice in key decisions, fostering a sense of ownership and alignment of interests.

Tokenomics:
UMAREUM’s tokenomics are designed to create a sustainable and vibrant ecosystem. The distribution and allocation of $UMAREUM tokens are carefully structured to encourage participation, reward contributors, and promote long-term growth.
UMAREUM has a total supply of 100,000,000 tokens with Circulating Supply is 22,000,000 tokens
1.
Presale (15%): This portion of tokens is allocated for a presale event, during which early investors or supporters can purchase $UMAREUM tokens at a discounted price before the official public sale. The funds raised in the presale can be used to support the project’s development and initial operations.
2.
Liquidity (8%): These tokens are reserved to provide liquidity for $UMAREUM on decentralized exchanges (DEXs) and other liquidity pools. Ensuring ample liquidity is essential for users to buy and sell tokens easily within the ecosystem.
3.
Centralized Exchanges (CEX) (13%): This allocation is intended for listing $UMAREUM on centralized cryptocurrency exchanges. Listing on popular exchanges can increase the token’s visibility and accessibility to a wider audience.
4.
Marketing + Partnerships (13%): These tokens are allocated for marketing and promotional activities. This includes advertising, community engagement, partnerships, and other efforts to raise awareness about $UMAREUM and its features. This portion is set aside for forming strategic partnerships with other projects, platforms, or organizations. Such partnerships can bring added value, integration possibilities, and expand the $UMAREUM ecosystem.
5.
Genesis Drop (7%): Genesis Drop refers to an initial distribution of tokens to early supporters or early adopters of the project. These tokens are often distributed as a reward for early engagement or participation.
6.
Incentivized Testnet (7%): Tokens allocated for incentivizing participants in the testnet phase. Users are rewarded for testing the network, providing feedback, and helping to identify and fix any issues or vulnerabilities.
7.
Research & Development (R&D) and Ecosystem (14%): These tokens are dedicated to funding ongoing research and development efforts for the Umareum project. Additionally, they can be used to support the growth and expansion of the Umareum ecosystem, which may include the development of dApps (decentralized applications) and partnerships.
8.
Bootstrap (Early Supporters) (8%): This allocation is for early supporters of the project, including advisors, team members, or individuals who contributed to the project’s initial stages. It’s a way to reward and incentivize those who have been instrumental in getting the project off the ground.
9.
Staking Rewards (15%): These tokens are reserved for distributing rewards to users who participate in the staking of $UMAREUM tokens. Staking involves locking up tokens in the network to support its operations and, in return, earning rewards, such as additional tokens or fees.

Ramsy | Crypto Miners:
Let’s move to our last question from this segment

6. What Umareum achieved so far and What important updates and developments can we expect in the future?

Dave Malone:
Umareum has achieved significant milestones thus far, including the successful launch of the Sparta testnet, which has allowed users to experience and test the platform’s capabilities. Additionally, Umareum has initiated a presale to engage the community and fuel further development.

Looking ahead, Umareum has ambitious plans for the future. The project aims to continue expanding its ecosystem and further enhance its Layer-1 blockchain technology.

For marketing, UMAREUM is in the process of securing listings on prominent platforms, including Dexview Charts, Poocoin Ads, and Dextools Trending. Additionally, we have imminent listings on Coinmarketcap and Coingecko, which will significantly enhance our visibility within the cryptocurrency community. Furthermore, we’re actively working on listings with major exchanges like MEXC, Huobi, and Gate, which will extend our presence to a broader audience.

Ramsy | Crypto Miners:
Thanks Dave for this well detailed introduction about Umareum

That’s the wrap up of our the first part of the AMA session

Dave Malone:
Wow, that went fast

Let’s keep up the process

Ramsy | Crypto Miners:
Let’s proceed to our Twitter Questions section

Segment 2️⃣: Twitter Questions

1. In regard to the UMAREUM bridge and swap protocol,would there be any provision for liquidity providers?Can you walk us through the steps on how users can contribute and provide liquidity to the pool and also the rewards for users who provide liquidity to this pool?

Here is the first one from Twitter

Dave Malone:
Umareum Swap is a digital platform that enables the efficient exchange of multiple
crypto asset pairs without intermediaries. The trading pairs will cover the
major stable coins like USDT, DAI, USDC, and the native UMAREUM coin. The
transaction fee will be as low as 0.3% per transaction
UMAREUM’s bridge and swap protocol does indeed provide opportunities for liquidity providers. Here’s a step-by-step guide on how users can contribute liquidity to the pool and the rewards they can expect:
Access UMAREUM’s swap protocol.
Choose a liquidity pool (e.g., UMAREUM/BNB).
Deposit equal amounts of UMAREUM and BNB tokens into the pool.
Receive LP tokens representing your share.
Earn rewards from swap fees and, sometimes, staking.
Manage and withdraw your liquidity and claim rewards as needed.

Ramsy | Crypto Miners:
Moving forward…

2. I read that the $UMAREUM token was solely designed to reward active participants of your ecosystem,so can you walk us through the steps and procedures on how users can actively contribute to your ecosystem and the reward Structure for active participants of your platform?

Dave Malone:
Sure! Active Contribution to the UMAREUM Ecosystem:

Network Validation: Users can actively contribute by participating in network validation through staking their $UMAREUM tokens or becoming a validator. Validators help secure the network and are rewarded for their efforts.

Development: Developers play a crucial role by building decentralized applications (dApps) on the UMAREUM blockchain. They can propose and develop innovative solutions that enhance the ecosystem.

Liquidity Provision: Liquidity providers contribute by adding their funds to liquidity pools, enabling smooth and efficient token swaps within the UMAREUM ecosystem. This helps maintain liquidity and reduce trading fees.

Reward Structure for Active Participants:

Stakers and Validators: Stakers earn rewards by locking their $UMAREUM tokens in the network’s staking mechanism. Validators, in addition to staking, validate and secure transactions. Both stakers and validators receive rewards in $UMAREUM tokens for their contributions. The more tokens staked or validated, the higher the potential rewards.

Developers: Developers can receive grants, incentives, or fees for creating and maintaining dApps on the UMAREUM blockchain. These incentives encourage continuous innovation and app development within the ecosystem.

Liquidity Providers: Liquidity providers earn a share of the trading fees generated by the liquidity pools they contribute to. Some liquidity pools may also offer additional rewards or incentives to attract more liquidity providers. Rewards vary depending on factors like the amount of liquidity provided and the specific pool’s rules.

Ramsy | Crypto Miners:
That’s the wind up of our twitter segment

Now Moving on to our last segment — Live Q&A

Shall we Dave?

Dave Malone:
Sure thing.

Ramsy | Crypto Miners:
Let’s go then

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and miners sent hundreds of questions. Guest choose some best to answer)

1) Nazli:
How does Umareum ensure seamless compatibility with existing Ethereum Virtual Machine (EVM) applications and tools? Are there any limitations or trade-offs compared to native Ethereum execution?

Dave Malone:
The Block DAG protocol in Umareum is designed to maximize throughput without compromising security by employing a Directed Acyclic Graph (DAG) structure, which brings several benefits to the platform:

Scalability: Traditional blockchain networks often struggle with scalability, leading to bottlenecks in transaction processing. Umareum’s Inclusive Block DAG, however, allows for parallel processing of transactions. This means that multiple transactions can be confirmed simultaneously, significantly increasing the network’s throughput. As more nodes join the network, the DAG’s virtuous cycle enhances scalability, ensuring that the platform can handle a growing number of transactions without significant delays or congestion.

Low Latency: With parallel processing and efficient consensus mechanisms, Umareum achieves low transaction latency. Users can experience rapid confirmation times, making the platform suitable for applications that require real-time interactions, such as decentralized finance (DeFi) trading or gaming.

Security: Umareum maintains its security through the utilization of a Proof-of-Work (PoW) consensus mechanism, ensuring the network’s robustness against potential attacks. While PoW requires computational “work” to mine new blocks, the DAG structure enhances the security of the network by enabling efficient transaction validation and finality.

Reliability: With multiple nodes confirming transactions concurrently, the network becomes more resilient to faults or targeted attacks. The redundancy provided by parallel processing enhances the reliability and uptime of the platform.

Umareum’s Block DAG protocol addresses the scalability trilemma — scalability, security, and decentralization — by enabling high throughput while maintaining robust security and decentralization. This approach enhances the platform’s overall performance and usability, making it suitable for a wide range of decentralized applications and use cases.

2) Defne:
How is Umareum addressing the evolving landscape of blockchain technology and DeFi? What are the plans for integrating future innovations and adapting to changing market conditions?

Dave Malone:
Umareum is committed to addressing the evolving landscape of blockchain technology and DeFi by implementing innovative solutions and maintaining adaptability to changing market conditions. Here are some key aspects of how Umareum plans to stay at the forefront of blockchain technology:

Scalability and Throughput: Umareum’s Inclusive Block DAG protocol allows for high throughput, scalability, and low latency. This design ensures that the platform can handle a growing number of transactions and users. To adapt to increasing demand, Umareum will continue to optimize its infrastructure for even greater scalability.

Security: Umareum places a strong emphasis on security by utilizing a Proof-of-Work (PoW) consensus mechanism. The network will regularly assess and update security measures to protect against emerging threats and vulnerabilities.

Sustainability: Umareum is committed to reducing its carbon footprint and environmental impact. The platform leverages energy-efficient algorithms to optimize energy usage without compromising consensus integrity. Future upgrades will continue to prioritize sustainability.

Interoperability: Umareum aims to enhance interoperability with other blockchains and networks. This will enable seamless asset transfers and interactions between Umareum and other ecosystems, expanding the platform’s utility and reach.

Partnerships: Collaborations with other blockchain projects, DeFi platforms, and industry leaders will be a crucial part of Umareum’s strategy. These partnerships will facilitate integration with cutting-edge technologies and bring new opportunities to users.

Umareum’s approach involves continuous innovation, collaboration, and adaptability. By staying responsive to market dynamics and embracing emerging technologies, Umareum aims to remain a leading player in the blockchain and DeFi space, providing valuable solutions for its users.

3) Muneeb:
Why Umareum choose to use Proof of Work as consensus mechanism while many projects are using very advanced algorithms. Ethereum also shifted to Proof of Stake some months before. What are your views?

Dave Malone:
Umareum has chosen to use Proof of Work (PoW) as its consensus mechanism for several reasons, despite the trend toward more advanced consensus algorithms like Proof of Stake (PoS) and others. Here are some perspectives on this choice:

Security and Decentralization: PoW is known for its robust security features. It relies on miners to perform computational work to validate transactions and secure the network. This computational “work” makes it economically challenging for malicious actors to manipulate the blockchain. By using PoW, Umareum aims to ensure a high level of security and decentralization, where network participation is open to anyone with the computational power to mine.

Proven Track Record: PoW has a long and proven track record of being secure and resistant to attacks. It has been successfully implemented in cryptocurrencies like Bitcoin for over a decade. This stability and reliability can be crucial for a blockchain’s success.

Community Engagement: PoW encourages active participation from the community, as miners are incentivized to secure the network and maintain its integrity. This can help in building a strong and engaged user base.

Compatibility: PoW ensures compatibility with the Ethereum Virtual Machine (EVM), allowing developers to port existing Ethereum-based smart contracts and dApps to the Umareum blockchain. This compatibility can expedite the adoption of Umareum’s technology.

Energy Efficiency Improvements: Umareum has indicated that it is adopting algorithms that optimize energy usage while preserving the benefits of PoW. This approach acknowledges the environmental concerns associated with PoW and aims to mitigate its carbon footprint.

It’s important to note that Umareum’s choice of PoW doesn’t necessarily mean it dismisses other consensus mechanisms. In fact, Umareum is working on innovative solutions, such as VRF and VDF algorithms, to enhance PoW’s efficiency while reducing its environmental impact.

*This segment ends here*

Ramsy | Crypto Miners:
Thankyou so much Dave for your valuable answers and information about Umareum

Dave Malone:
My pleasure

Ramsy | Crypto Miners:
Time To Conclude Our AMA Section

Lastly is there anything else you would like to share or you want us to know?

Dave Malone:
Okay so our Presale is now live on Pinksale, with soft cap is 50BNB, and we only have like about 3 days left until the presale ends.
Please check it out on Pinksale, we’re currently trending on Pinksale board.
https://www.pinksale.finance/launchpad/0x321555a2129adb3adaa6fe1998f5d3f96bab3132?chain=BSC

Ramsy | Crypto Miners:
Check it out guys

Dave Malone:
And I would like thank everyone for being here, make this an awesome AMA.

Ramsy | Crypto Miners:
On behalf of miners community wish all the very best for Umareum and the entire team behind the project

Dave Malone:
U too Ramsy!! Great job on this AMA

Ramsy | Crypto Miners:
Have a nice day Dave

Dave Malone:
U too Ramsy

If you would like to learn more about Umareum, here are some useful links for you:

Website: http://umareum.com/
X: https://x.com/Crypto_UMAREUM
Telegram: https://t.me/Umareum_General