The platform aims to provide an efficient blockchain that has greater chain security and network reliability. For this, the network has almost double the throughput than Ethereum with fewer issues. Further, the platform is open-source and is governed by the community. The platform's governance system, Escher, aims to move toward the platform's development by providing on-chain voting to users. The platform aims to ensure that all the important decisions are entrusted to the community via transparent, immutable, and verifiable public voting.

The platform was launched without ICO, developer fee, or pre-mine, and the developer's incentives are aligned with the long-term project's success that aims for true decentralization. The lack of ICO funding and distribution mechanism insulates the platform from the uncertainty of regulatory compliance. As a fair launch and an independent blockchain network, Ubiq offers flexible solutions to users in an open array of regulatory spaces. Ubiq's code is available for the community where developers can create and collaborate on existing code. Therefore, all the development is voluntary as the platform is community-driven and open for everyone.

UBQ is the official cryptocurrencyof the Ubiq network. UBQ is secured by cryptography,which means the user's wallet, UBQ, and the transactions are safe. Users can send UBQ to anyone, anywhere, and any time, without involving third parties. When users send Ubiq tokens to use the Ubiq application, the user pays a little compensation in the form of UBQ. The compensation incentivizes the miners to verify and process the transactions. Through the block rewards, the miners are contracted by the protocolto ensure the platform is devoid of central control and always secured.

The Ubiq platform was launched on January 26, 2017. On January 28, 2017, the genesis block of the Ubiq network was created. On May 10, 2017, the platform witnessed Qwark token swaps to the Ubiq network, and APX ran and launched ICO on the Ubiq network. Later, on November 30, 2017, the platform released Spectrum and Trezor Wallet Support. On Feb 9, 2018, the platform's new governance system, Escher, was announced. The team behind the platform includes lead developers Julian Yap, Luke Williams, Kris Hansen, and Aldo Borrero. Other key members include Alex Sterk, business manager, and Kris Lester, community manager.

The Ubiq token has no fixed maximum supply, ensuring that there are always enough tokens to sustain the ecosystem securely.

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