Ubiq is a hard fork of Ethereum that’s completely separate from the Ethereum ecosystem. It runs a slightly modified version of the Ethereum blockchain and implements the Ethereum Virtual Machine for smart contracts and DApps.
The project is still rather small. It launched without an ICO, and its token is a port of the old Jumbucks token. Since there was no token sale, the UBQ token has been available on the exchanges since shortly after the genesis block. It replaced the deprecated JBS token.
Ubqhash is a new independent Proof-of-Work algorithm for Ubiq. Ubiq was the first to implement several changes, resulting in the Ethereum fork being the first to implement monetary policy and the only chain with a modified difficulty algorithm (Flux) allowing block creation in 88 seconds.
Ubqhash mining requires 2GB of GPU memory as it downloads and stores a DAG file into it. DAG file stands for Directed Acyclic Graph and is used in all Ubqhash coins to provide a proof of work. DAG file is generated every mining epoch and it increases from epoch to epoch. For more details, see our quick step-by-step guide on how to mine Ethereum on Nanopool.