SINOVATE

What SINOVATE is aiming on Cryptocurrency Market?

SINOVATE is created for Innovation and it aims to keep bringing never before seen Innovations in the crypto market.

What is Infinity Nodes, why different from Classical Masternode System? Infinity Nodes are groundbreaking evolved masternodes that solves the inflation problem. Traditional masternodes start with high ROI but with very large inflation and that inflation is what inevitably makes them fail.

What is IDS, why is it better than cloud storage? And size providers how to get/ earn SIN?

IDS = Incorruptible Data Storage.

IDS is a peer-to-peer private networking system, which will permit transactions and storage between miners and Infinity Node owners. Competitors including Sia, Storj, BitTorrent and even IPFS solutions reward individuals for serving and hosting content on their hard drive space, which requires a 24/7 uptime for computers. User hard drives must remain open and the rewards received must justify the costs incurred for leaving computer online.

In IDS, the private networking of decentralized storage relies solely on the SINOVATE Blockchain, with only node owners receiving rewards as compensation for utilising their hard drive resources to run an Infinity Node. Node owners will get rewards both from the Infinity Nodes and from storing confidential data.

IDS will have 5 steps of evolution.

• Step 1. DataSend. Users will be able to send documents and SMS only data between SIN wallets, just like sending their coins up to 1.5 Megabytes (MB). Two sending options will be provided to users, known as legal (256-bit) and illegal (1024-bit or higher). Data being sent in 256-bit will only be accessible by governments for decryption. However, data will still be indestructible for enterprise use. Data being sent in 1024-bit or higher will be impossible to decrypt even for governments, should this option be chosen.
• Step2. Addition of voice and video data up to 3MB.
• Step3. Increase space
• Step4. Increase data storage
• Step5. Unlimited blockchain based storage for eliminating centralized storage all over the world.

SINOVATE has 533 tp/s. How are you planning to use this as a use case?

Scalability is one of the biggest problems in cryptocurrencies. POS only or centralized cryptocurrencies have higher scalability but are not suitable for the original Satoshi plan. Satoshi Nakamoto’s dream was everybody to mine their own coins without being centralized so SINOVATE blockchain not only is the most scalable POW cryptocurrency but will also have much more increased scalability in the future. Mass adoption requires high scalability especially when it will be used in real life as a payment means. Are we going to see SINOVATE Payment System in the future?

SINOVATE payment gateway will be released this year with high scalability and less than 3 seconds transaction times with the help of FlashSend.

What is SINOVATE aiming with X25X Algorithm?

SINOVATE formerly SUQA always aimed at the ordinary user starting with the X22i custom algorithm and upgraded to X25X to fight the big hardware companies so everyone can mine their own coin without letting ASIC,FPGA companies dominate the network.

Algo Comparison Chart

We are committed to remaining ASIC / FPGA resistant and such use an ever evolving algorithm, the latest variation named X25X launched with the last update. It is protected from difficulty attacks using Dark Gravity Wave v3 and raises the memory requirements compared to X22i bt a factor of five making it harder for ASIC / FPGA to implement.

What is Komodo dPOW , and when is the plan implementation on SINOVATE?

dPoW diagram

KOMODO DPoW is a working and trusted 51 % Attack protection technology to prevent any kind of malicious attacks by the help of notarized data of Bitcoin, KOMODO and SINOVATE chain.

What is the current status on mobile wallets? We saw a mobile wallet trailer.

Mobile wallets will be released in July 2019 as a custom good looking wallet tailored to the specific needs of SIN Blockchain

What is the plan for adoption in real life SINOVATE?

Our team draws from a large diversity of skills from many areas of business and across many different industries. This allows us to design and hone the experience of interacting with the SINOVATE Blockchain at many levels, from developers, business leaders and operational levels, down to the end-user experience.

This allows us to develop software and user experiences from the perspective of all involved, ensuring that the end user is the primary focus.

What is the current financial status on SINOVATE?

SINOVATE are transparent about the financial status of the foundation and the activity taken with funds. We regularly publish updates and the latest one for June is here.

What partnerships will there be in the future?

Besides the Masternodes related partnerships, SINOVATE partnered with KOMODO for the integration of dPoW 51% attack protection, which will be active at the end of July or early August 2019.

As the foundation’s mission is to grow the space for all. We are happy to work with all projects and businesses both by learning from the great work others have undertaken and offering something back to other projects with our open source code.

With Governance what can it do for the community?

Decentralized governance is the future of any successful blockchain project, SINOVATE believes that blockchain will be ubiquitous in the underlying infrastructure and services in the future of everyday life. Having fair voting for developments, marketing and innovations of the SINOVATE chain will be very important for everyone.

Hopefully that covers as an introduction, please fire away below with any questions you might have for us!

EDIT - More questions and answers here: https://www.reddit.com/r/gpumining/comments/c6pir7/ama_with_sinovate_a_new_gpu_friendly_coin_with/?st=jxkx75wy&sh=ddd2b498