Sphere (SPHR)

Sphere (SPHR) is a digital currency that has undergone several important historical developments. It started as a Proof-of-Work (PoW) blockchain, with its genesis block being mined on April 30, 2015. After reaching block #3600, Sphere became a pure Proof-of-Stake (PoS) coin. Under this new model, users could earn PoS rewards based on the number of SPHR coins they held.

Sphere later underwent a significant upgrade to enhance security and functionality. At block #1567140, Sphere transitioned from its Proof-of-Stake blockchain to an ERC20 token on the Ubiq network. This upgrade was executed through a swap at a ratio of 1:5, with Bittrex hosting the swap process. The transition to the Ubiq network brought about increased security and enabled Sphere to maintain its commitment to fair launch and the principles of decentralization.

With its focus on fair distribution and user participation, Sphere has consistently prioritized mining, wallet usage, and running nodes as key factors in determining the distribution of its project. By swapping onto the Ubq network, Sphere has not only improved its network security but also ensured the continued upholding of its core values. The swap was officially launched after the UBQ hardfork, which introduced support for the Ubqhash algorithm.