Ubiq is a Proof of Work blockchain that is compatible with the Ethereum Virtual Machine (EVM) and supports tokens, DApps, and smart contracts. It was launched as a permissionless network maintained voluntarily by its global community of developers. Along with being backward compatible with the EVM ecosystem, Ubiq has a distinct monetary policy, on-chain governance through the Escher system, and its own PoW hashing algorithm called "Ubqhash" (with the 'Flux difficulty algorithm'). The network's value token, UBQ, acts as gas for token transfers and contract execution. Ubiq focuses on cautious and steady blockchain development for Enterprise applications.