Blog What is Sinovate ?

What is Sinovate ?

History of Sinovate

Sinovate is an open-source cryptocurrency built for and by the community in September 2018. It is indeed a DAO, Decentralized Autonomous Organisation. That is to say that this organization does not depend on a company or an individual, but is based on the code of the blockchain, although a team is in place to promote the project and implement the proposed solutions. Sinovate's role is to build innovative blockchains for individuals, developers and companies.

Its decentralized and secure cloud storage system through the blockchain, IDS, for Incorruptible Data Storage, is Sinovate's main feature and makes the project unique.

Characteristics of Sinovate


how Sinovate works ?

Sinovate is a blockchain that merges the best aspects of Proof-of-Work, Proof-of-Stake and Masternodes. This hybrid consensus will be activated at the end of 2020.

Major features of Sinovate

Among the wide range of features of Sinovate, there are 6 main ones:

• Decentralization: thanks to more than 1200 masternodes around the world.

• Security: thanks to a complex security algorithm that makes 51% attacks and double spending almost impossible.

• Governance: masternode holders get a vote on future Sinovate projects. It is attributed to them for the lifetime of their masternode (365 days).

• Stability: The fact that masternode collateral is burnt encourages users to keep their node active for the life of their contract.

• Transparency: thanks to the community's central place.

• Scalability: Sinovate is capable of processing up to 533 transactions per second and the hybrid PoS/PoW system will further reduce confirmation time.

The Sinovate masternodes

Masternodes play a key role on the Sinovate blockchain. Their role is to validate network transactions. In addition, each masternode keeps a complete copy of the Sinovate blockchain, ensuring the stability and integrity of the network.

With more than 1200 active masternodes, the Sinovate network has enormous security, speed and resilience. The network is also highly scalable, which is highly sought after in today's crypto ecosystem.

Read also : What is a masternode ?

Unlike classical masternodes like Dash, the pioneer of masternodes, the collateral of the Sinovate masternode is non-recoverable. Moreover, this masternode is valid for one year. However, the high ROI of this masternode is supposed to cover the loss of the collateral that burned at the opening of the contract.

This masternode is available in 3 different collateral sizes, ranging from 100,000 SIN to 1,000,000 SIN. At Just-Mining, we offer you the opportunity to acquire the intermediate Sinovate masternode with a collateral of 500,000 Sinovate. For smaller portfolios, we also offer shared Sinovate masternodes (starting at 10%).

Published by Just Mining on 09/11/2020
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