Sovereign Coin price is $0.00021247
As of the latest available data, Sovereign Coin (SOV) is priced at $ 0.00021247. The price has increased by +0.00% over the past 24 hours.
Sovereign Coin (SOV) is a digital cryptocurrency that builds upon the technology of Dash, a well-known open-source cryptocurrency. It aspires to be the pioneering and most expansive Masternode ATM cryptocurrency, aiming to facilitate monetary services globally. Initially targeting Singapore, SOV plans to scale up and offer its services worldwide.
Sovereign Coin operates on a network supported by a special kind of Masternode technology. These Masternodes are critical to the network's infrastructure, helping maintain swift transactions and bolstering security. In the SOV ecosystem, Masternode operators are incentivized through a backpay system for their role in sustaining the network.
Masternodes in the SOV network are powerful servers backed by collateral held in SOV and are designed to provide advanced services and governance on the blockchain. Owners of these Masternodes receive backpay as a form of incentive for their contribution to the network's integrity and performance.
SOV incorporates InstantSend technology, ensuring near-instant transactions, which usually take just a few seconds to complete. This not only improves the user experience but also enhances the utility of SOV in everyday transactions where speed is essential.
Sovereign Coin also prioritizes transaction anonymity through its PrivateSend feature. This function enables users to mix their transactions with those of others, providing financial privacy by making it significantly more difficult for transactions to be traced back to their source.
While SovCoin is based on Dash, it seeks to differentiate itself by focusing on becoming a leading currency for Masternode ATMs and emphasizing its expansion into global monetary services. The backpay system for Masternode operators and the emphasis on InstantSend and PrivateSend technologies are part of its unique selling proposition.
The circulating supply of Sovereign Coin is currently , out of a total possible supply of 42.6M coins.
The market capitalization of Sovereign Coin is estimated to be $ , and it holds the rank #1 in the market cap rankings of cryptocurrencies.
As an ATM cryptocurrency, SovCoin is intended to be utilized for a range of monetary services, potentially including withdrawals, deposits, and transfers through Masternode-supported ATMs. This envisages a future where using cryptocurrency for everyday financial transactions is as commonplace as using traditional fiat currencies.
The combination of Masternode technology, InstantSend, and PrivateSend helps ensure a secure and stable network for SovCoin users. Masternodes provide an extra layer of security on top of the standard proof-of-stake algorithm commonly used in cryptocurrency networks.
Sovereign Coin (SOV) can be purchased on the CREX24 that support this cryptocurrency. Prospective buyers should check these exchanges for the latest trading pairs and availability.
Securing your SovCoin holdings involves using reliable cryptocurrency wallets that provide strong security features. It is recommended to use wallets that allow you to control your private keys and that offer security measures such as two-factor authentication (2FA), backup options, and regular updates. Always ensure to keep your wallet's software up to date and practice safe storage methods, like hardware wallets if holding significant amounts.
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