What is SINOVATE?
SINOVATE, a collaborative technology company recently revealed its new Peer-to-Peer (P2P) digital currency called SIN. Through the creation of unique and modern Blockchain products, services and solutions like Infinity Nodes, the team at SINOVATE encourages community growth while paving the way towards mass adoption of cryptocurrency. SINOVATE implements a decentralised solution by harnessing existing technologies and concepts, innovating them and creating multiple features that give users the ability to adopt new technology in a secure environment. Transition from SUQA to SINOVATE was briefly delayed due to minor bugs identified within the Mainnet Wallet. These have now been successfully resolved, with functionality back at 100%. The SINOVATE Hard Fork officially went live on 1st June 2019 at approximately 09:00 UTC, and comes equipped with a wide range of enhancements and features to be discussed in this article.
SIN, the successor of SUQA coin combines its brand new X25X Proof of Work (PoW) algorithm with Komodo’s unique security mechanism, known as Delayed Proof of Work (dPoW). X25X is CPU as well as GPU mineable and ensures ASIC, FPGA and quantum resistance. SWIFFTX is also added to the algorithm chain, with increased ram usage per nonce utilised for FPGA devices. This ensures decentralisation is maintained at all times. dPoW provides an additional security layer, further safeguarding the SINOVATE Blockchain against 51% attacks by leveraging the hash rate of the Bitcoin network, in a clever process known as notarization. dPoW will be integrated into the SINOVATE Network during July 2019.