What is Unicorn Surf
Unicorn Surf is a separate blockchain based on Ethereum, it is compatible with Decentralized Applications (dApps) written for Ethereum, fully compatible with erc20 application tokens. It was created to outperform ETH, which is applicable to all business sectors in life, rather than just cryptocurrencies.
The most outstanding advantage of Unicorn Surf is Unic Brain, an artificial intelligence that can handle up to 5 million information streams per second. Valued up to tens of millions of dollars, Unic Brain is currently only exploited by franchisees of Unicorn Fintech.
Unicorn Surf — Coin Migration
What is a Coin Migration and What to Expect
Unicorn (UNIC) runs on its own blockchain. It’s core fundamentals have been enhanced to become a cryptocurrency with one of the largest treasury model’s in the space. We’ve seen Unicorn quickly become a top cryptocurrency within a little time of its open launch, and yet we are only scratching the surface of Unicorn’s true capabilities.
Unicorn will breakthrough yet another huge milestone with the launch of Unicorn Surf. In Q4 2019, Unicorn will fully transition to an Unicorn Surf — based smart contract platform, compatible with Decentralized Applications (dApps) written for Ethereum. Unicorn will not be turned into an ERC20 token, but rather be an equivalent to ETH, with the ability to have ERC20 tokens compatible with our platform. This major update will encompass all of Unicorn Surf ’s capabilities while incorporating Unicorn’s Treasury, Masternodes, and Governance systems, all on one blockchain.
What is a Coin Migration?
Since blockchains are immutable distributed ledgers, it’s impossible to modify a cryptocurrency without migrating it to another blockchain. As such, the process of introducing Unicorn Surf, Unicorn will need to move onto a blockchain that possesses smart contract capabilities. This is where the term Coin Migration is introduced. Coin Migration is a process where a cryptocurrency is moved from one blockchain to another. Unicorn will move from a ERC20 to an Unicorn — based blockchain.
Unlike a traditional coin swap (further information on this is provided below), Unicorn will perform a coin migration from Generation 2.0 to Unicorn Surf which will be a seamless, trustless, and decentralized method that will transfer UNIC to a native Ethereum-like address (Ethereum addresses are a sequence of 20 characters that typically start with 0x) with a new private key. For UNIC’s coin migration, there will be a snapshot taken of all Generation 2.0 blockchain UTXOs. This snapshot will then be embedded in the Unicorn Surf Genesis block.
In order to make the UNIC Coin Migration possible, the Unicorn Generation 2.0 snapshot data must be captured before Unicorn Unicorn Surf goes live. Once it goes ‘live’, users will be able to use the New Generation wallet and ‘unlock’ their UNIC (same amount) using their Gen 2.0 private keys.
How Traditional Coin Swaps Work
Within the cryptosphere, there are a number of methods that are employed to execute a coin swap. There are similarities that can be observed across them all. From a user’s perspective, their involvement in the process will vary, based on where their coins are stored (i.e. exchange or a hard wallet).
Some cryptocurrency projects give their users a ‘hard’ deadline for when they must swap their old coins for the new one. Failure to do so results in users’ old coins being frozen or inaccessible. If users’ coins are left on exchanges, some exchanges put a halt on trading the cryptocurrency until the migration to the new coin is complete. While other exchanges may take an entirely different approach and prepare in advance. Typically, exchanges notify users in advance that trading services for that cryptocurrency will be going into ‘maintenance mode’.
Whether you leave your coins on an exchange or do the coin swap yourself, you should understand the processes of traditional coin swaps, know what the coin swap deadline is, and understand the consequences of missing it. Thankfully, Unicorn has no such ‘hard’ deadline.
The Unicorn Coin Migration Alternative
Rather than depending on an exchange or a third-party wallet to perform the coin migration, Unicorn will provide everyone an equal opportunity to migrate their coins at ANY time, on the condition that their UNIC is stored on the Unicorn New Wallet. Before Unicorn Surf is released, Unicorn holders will be notified well in advance of the coin migration and will be provided instructional steps so that they are fully prepared.
Unicorn holders with Masternodes will need to set up new Unicorn Masternodes. To make sure Masternode holders have a smooth transition, we will add a special ERC20 token which will be used as collateral. As for holders who are staking UNIC, there will be no changes. We will provide more information on what to do with your Masternodes as we get closer to the launch of Unicorn Surf.
Regardless of whether Unicorn coins are stored on the Unicorn New Wallet, on an exchange, in the Unicorn Old Wallet or anywhere, users will be given a specific set of instructions for how to proceed in their situation, well ahead of the migration.
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