What is UMI
Universal Money Instrument (UMI) is an open source decentralized cryptocurrency providing instant, free, private, and secure transactions using a unique Proof-of-Authority model. UMI addresses have the prefix "umi" and contain 62 characters. New blocks on the UMI blockchain are created by master nodes functioning at very speed and network capacity, then further confirmed for correctness by validator nodes. Each block contains 65,535 transactions. UMI provides a full-scale blockchain platform allowing users to create and execute smart contracts capable of processing 4,369 transactions per second, roughly 300 times faster than Bitcoin. UMI aims to outclass Visa and Mastercard and provide an alternative to existing financial systems allowing anyone to participate in the creation of new money. Staking smart contracts allow users to create individual nodes, referred to as Structures, within their UMI wallet. UMI enables users to configure individual parameters within their structure and join other structures (pools) to yield up to 40% returns awarded monthly with no time lock requirement for staking.