Ubiq describes itself as an EVM-compliant proof-of-work blockchain that supports tokens, DApps, and smart contracts. According to the team, it was launched as a permissionless, ICO/preminered network, voluntarily maintained by its global community of developers and community. In addition to being backward compatible with the EVM ecosystem, Ubiq also features a distinct and predictable monetary policy, on-chain governance via the Escher system, and its proprietary PoW hashing algorithm called "Ubqhash" (along with its "stream"). UBQ wants to be the security token of the network and acts as a gas to facilitate token transfers and contract execution. Ubiq is committed to maintaining consistent and prudent blockchain development focused on business applications.