What Is Sinovate?
Sinovate (SIN) is a project to build a blockchain-based peer-to-peer network for decentralized cloud storage. It has been launched in 2018 as SUQA without any ICO/IEO or pre-mine and has been rebranded in 2019 as SINOVATE. The project aims to offer a decentralized Cloud (dCloud) multi-chain ecosystem to answer the future challenges of Big Data and Artificial Intelligence with cryptocurrency technologies.
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double spending. They propose a solution to the double-spending problem using a peer-to-peer network.
Sinovate Storage Key Points
|Circulating Supply||663,717,042.40 SIN|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Sinovate Coin Centralized cloud storage exposes data to privacy leaks and data breaches. The management can control, monitor, censor, or provide data to third parties, and the stored data could be lost or modified.
Centralized storage servers gather in one or several places to reduce costs, and on the occasion of a power interruption or other malfunction, many related services often fail or even have the danger of losing the data forever.
Sinovate costs of centralized storage are extremely high, these include employee salaries, accounting expenses, legal charges, administration duties, and data centre rents.
Centralized cloud storage is the hub of stored files, data, and databases administered within computing servers over a network.
Cloud storage platforms do their best to provide stable performance, but most cloud providers’ achievements are regularly problematic due to sharing physical resources, such as network, memory, disk, CPUs, with many different users and requirements, 100% uptime can not be guaranteed.
Sinovate Coin file transfer speeds are critical to cloud storage, especially when dealing with large files. Even though there are limitations of centralized cloud storage, it still has considerably faster speeds than the current decentralized cloud platforms.
Infinity Nodes are a first of its kind burn-collateralised nodes that receive monetary incentives for running its hardware and hosting files. They are the backbone of IDS dCloud.
Incorruptible Data Storage
Incorruptible Data Storage (IDS) is an innovative decentralized cloud and private network mechanism for sending, storing, and verifying encrypted files. It allows users to store files for future retrieval and to send files privately over peer-to-peer.
Sinovate completely separate from the main SINOVATE blockchain, the InfiniteChain ıs a new blockchain built on the BIG Infinity Node Layer (BIL), which uses the proof-of-burn and proof-of-stake consensus mechanisms.
To protect and enhance the decentralization of the SINOVATE blockchain, a leading-edge custom proof-of-work hashing algorithm was innovatively developed and implemented. The X25X algorithm is a brand new algorithm best suited for GPU mining.
SINOVATE (SIN) is an open-source state of the art community-driven digital cryptocurrency. We build innovative blockchain solutions for individuals, developers, and enterprises. Incorruptible Data Storage (IDS) provides decentralized cloud storage, leveraging thousands of Infinity Nodes, with guaranteed low cost and high security.
Sinovate Coin Blockchain technology is still viewed by many to be in its early stages of development. However, its new and future applications are far beyond the mere ability of using cryptocurrency as the sole store of value. The SINOVATE team is very aware of the challenges to come and relies on reliable and recognized aspects of the technological advantages of blockchain to build itself and provide unique services with high added value.