SINOVATE Infinity Node
By Rafał - 2019-06-28
Infinity Node Solution to Inflationary TrendBy removing the coins used in setting up masternode from circulating supply, the Infinity node effectively tackles the cycle that makes masternode coins unattractive to some investors. This technique ensures that inflation is controlled on the network.The uniqueness of this feature is that it does not minify the priority given to security and support to the SIN network.These are available in three categories tiered into Little SIN, Mid SIN and Big SIN comprising 100,000 SIN, 500,ooo SIN and 1,000,000 SIN respectively. Mid SIN has a 5% bonus while Big SIN has 10% bonus.Block rewards are automatic whether the tier being allocated is Little, Mid or Big SIN. This also is an innovative inflation controlling feature of the network.
“SINOVATE is confident that Infinity Nodes will solve the unintended consequences of high inflation and bloated coin supply emission witnessed in all other Masternode orientated cryptocurrencies. Scarcity of the SIN coin supply will be attractive to those wishing to invest”
Delayed Proof of WorkThe SIN platform is going to integrate the delayed proof of work system (DPoW) as seen with networks such as Komodo but has gone further through the innovative use of its X25x algorithm. This ensures that the network has an extra security layer taking advantage of the so-called notarization of the algorithm of the Bitcoin network. DpoW will be integrated by the end of July.
Commercial Mining Resistant AlgorithmAnother positive feature is that the X25 effectively excludes commercial mining activities from the Sinovate network. This enhances decentralization as it gives incentives to smaller miners to run nodes on the network.When Bitcoin was invented, the impression that most users had was that the coin would create a channel through which transactions can be made anonymously. However in practice, it has been shown that Bitcoin transactions are not anonymous. This has created a demand for the so-called privacy coins such as Dash.
Strong Privacy FeaturesTransactions made on the Sinovate network are obscured so that the originating and terminating addresses are not traceable. The platforms ShadowSend ensures that the users enjoy true financial privacy by making the SIN coins in storage discrete and dissociated from other Sin coins.Furthermore, the innovative approach to privacy as employed by the platform does not just ensure that stored coins are treated as different inputs, there are 5 default mixing pairs within the wallet making SIN coins untraceable from input to terminating wallet.The security of the platform is a hybrid of what is obtainable on Bitcoin and Komodo blockchain with the Sinovate Incorruptible Data Storage (IDS) enabling users to send their files and data in encrypted forms.The objective of the IDS is to achieve anonymous transaction and storage while emphasizing on decentralization. The ability to preserve user privacy while transmitting through the Bitcoin, Komodo and the Sinovate blockchains makes the network privacy and security innovations truly remarkable.
Scalability and High Speed TransactionPerhaps the most intriguing feature of the Infinity Node is the FlashSend. This enables transactions on the network to be sent in less than 3 seconds. The ability to transmit the SIN coins instantaneously may be remarkable, that is not the limit of its scalability.The Sinovate Infinity Node can accommodate 533 transactions per second, a record 75 times more scalable than Bitcoin. This makes the Infinity Node FlashSend one of the elites of high speed transaction in the industry.
Governance StructureAnother remarkable feature of the platform is its governance structure. The Revolving Sovereignty Votes system (RSV) is an in-built governance participation feature that enables holders of Infinity Node participate in the decision-making mechanisms of the network.The system was designed to be engaging and there has been reports that node operators increasingly search out opportunities to be more active in the projects and operations of the network. The RSV is designed to be renewed after every 12 months because this is the duration of the individual Infinity Node.All node operators must remain involved throughout the lifespan in support of network security. All nodes are mandated to reach a consensus through the Proof of Burn, a mechanism through which checks are placed on bad actors while ensuring that the network is safe.
Great Coinmarket Prospects
Check Sinovate stats:The Infinity Node has a high commercial viability in that it yields passive income to the holders while concurrently has mechanisms built in to avoid inflation down the line. This is one of the aspects of passive income coins overlooked by most networks.The platform accomplishes this by burning all SIN coins that were used to build nodes. The minimum income guaranteed node operators is 22% for Big SIN (+10% bonus), 17% for Mid SIN (+5% bonus) and 12% for Small SIN. Nevertheless, such nodes at maturity of their lifespan of 12 months would no longer count as part of the node count in keep with the networks checks on inflation.This no doubt makes a lot of cryptoeconomic sense and sets the Sinovate Infinity Node apart in terms of innovativeness.Useful links:Website: https://sinovate.ioAnnouncement: https://bitcointalk.org/index.php?topic=5147827.0Telegram: https://t.me/SINOVATEChainDiscord: https://discord.gg/4Q77GmX