SINOVATE price is $0.00026743
As of today, the current price of SINOVATE (SIN) is $ 0.00026743, with a 24-hour volume of 107.0. It has increased by +0.00% in the past 24 hours.
SINOVATE (SIN) is a unique, state-of-the-art blockchain technology created for decentralized cloud storage. Launched in 2018, SINOVATE is structured as a Decentralized Autonomous Organization (DAO) and aims to provide a decentralized Cloud (dCloud) multi-chain ecosystem to address future challenges posed by Big Data and Artificial Intelligence.
SINOVATE operates using a hybrid GPU-based custom Proof-of-Work (PoW) algorithm X25X, and a fourth-generation Proof-of-Stake (PoS) consensus to validate blocks. This setup ensures its blockchain technology is not only ultra-secure but also efficient and scalable.
Part of this ecosystem is the Infinity Nodes network. Infinity Nodes allow a low-cost, high-speed and stable data storage platform. This unique feature is only possible due to the 12-month contract commitment and a LockReward algorithm, which promotes a fair reward distribution system among different tiers of Infinity Nodes.
The SINOVATE network is regularly updated to leverage the latest technological advancements, including Layer-2 protocols like state channels for micropayments based on the Lightning Network. This regular updating of the codebase also makes it easy to develop decentralized applications for data storage services and more on the SINOVATE platform.
One of SINOVATE's standout features is its Incorruptible Data Storage (IDS). The IDS is an innovative approach to a decentralized cloud environment powered by Infinity Nodes with secure and unique protocols, including blockchain-based File Transfer Protocol (bFTP).
Another uniqueness stems from their Proof-of-Burn (PoB) mechanism. This applies to the Infinity Nodes collateral, data storage fees, and transaction fees. The inflation paradigm solved by SINOVATE ensures an easy network capacity increase and a novel cryptonomic model with a self-regulated circulating supply depending on the market.
InfiniteChain is essentially a Layer-2 solution that interconnects the various blockchain solutions provided by the SINOVATE ecosystem. This is made possible through the application of sidechain technology. The eventual goal is to make SINOVATE the only decentralized cloud multi-chain ecosystem globally, capable of unlimited scalability, unlimited data storage capacity and a host of services and applications.
SINOVATE is also creating bridges with the Ethereum and Binance Smart Chain ecosystem, essentially making it a part of the decentralized finance (DeFi) ecosystem. This move is designed to foster interconnectedness with solutions supported by these platforms. Specifically, SIN coins will be wrapped, usable, and tradable on various decentralized exchanges.
You can purchase SINOVATE (SIN) from any of the following exchanges: TradeOgre, STEX, CREX24. It's important to remember to keep your SINOVATE safe, probably in a wallet you trust.
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