The Uzi is a Hardmodegun with an insanely high rate of fire and high damage. It is dropped by the Angry Trapper in the Jungle. Considering its attributes, it could be used as a cheaper form of the Megashark. It does not have the ability to not consume ammo when fired, unlike the Megashark.
The Uzi fires slightly slower than the Megashark (the firing speed is 'very fast' as opposed to 'insanely fast')