The genesis of Ubiq was derived from a different type of blockchain iteration. Before the current EVM-based programable blockchain existed, the project was known as Jumbucks (symbol JBS). It was a Peercoin codebase coin, and began as a fair launch Proof of Work (PoW) blockchain before a transition to Proof of Stake (PoS). Once a feasible turing-complete model existed, the decision was made to adopt a new system and new functionality while preserving the value and community that had coalesced around the original version.