SINOVATE (formerly: SUQA) is a new peer-to-peer (P2P) digital currency and an ecosystem that focuses on creating unique modern blockchain products, services and solutions. SINOVATE (SIN) combines its brand new X25X Proof of Work (PoW) algorithm with Komodo's unique security mechanism, namely Delayed Proof of Work (dPoW). The X25X algorithm supports GPU mining, which can effectively resist ASIC, FPGA and QUANTUM, and consolidate the decentralized consensus mechanism.

Project Mission

In the new world of blockchain, any creation and innovation is very challenging and extremely rewarding. It is worth noting that cryptocurrencies are still in the initial growth stages of development. Blockchain technology provides its users with an infinitely practical world, which is far beyond the technology and services that the traditional financial field can provide.
SINOVATE strives to innovate and develop various useful applications using blockchain technology. We do our best to let users enjoy the technical services of new products in a safe environment.
At present, the total market value of global cryptocurrencies is about 270 billion US dollars and it keeps rising. This is constantly breaking new records. As William Mougayar, a thought leader in the field of cryptocurrency, said, every new cryptocurrency is born, and everyone expects it to become the next mainstream cryptocurrency.
However, in this new world of blockchain, experts are even more pessimistic about the success of blockchain startups than they are about startups in other industries! Based on the characteristics of blockchain technology, we understand that this is due to the complexity of the technology. At present, it is not easy to use blockchain technology in actual business use, and users do not have more patience and energy to wait for a reasonable technology research and development time of about two years to experience the technology. It is a very big challenge for block chain technology to improve user service and experience!
So, our goal is to launch an extremely user-friendly platform, and we hope to keep creating, building and innovating. Let SINOVATE fully integrate into the user's daily life and use it constantly.

Business strategy

The SINOVATE platform needs to be economically sustainable for long-term growth and survival. Our business strategy is to provide users with an intuitive platform that users can enjoy, research and implement our blockchain solutions and cryptocurrencies in our daily lives.
We envision a premier platform where users don't need to sign up for multiple platforms to meet their blockchain needs. This will be achieved by taking action on the issues/troubles of the community, providing them with a lot of features and solutions when needed. At SINOVATE, the future development potential of the cryptocurrency market is huge.
As of March 2017, the number of cryptocurrency users is estimated to be between 2.9-5.8 million.
Since then, the market price of Bitcoin has grown exponentially in proportion to the number of users of the cryptocurrency, driven by increased mainstream and institutional use, with over 200 million active users expected in 2024.
SINOVATE aims to capture this opportunity while the market is still in its infancy Our products and services are geared towards beginners and advanced users with a view to appealing to corporate and institutional investors as our core focus is security, integrity and regulation compliance. SINOVATE is not for hype, SINOVATE is here to stay, this is related to our belief in the cryptocurrency world. We see a rise in demand and demand for blockchain technology and are poised to expand further, helping people implement it and use it.

Project function

SINOVATE will be an innovative representative project of blockchain technology. We have the ability to provide some exciting and unique innovative functions based on blockchain technology. In fact, some unique functions have already begun to be applied. For example: infinite nodes. We will continue to develop and expand more application functions, and will strive to maintain long-term technology leadership.
We are committed to SINOVATE becoming the overall system solution of the next generation blockchain platform. Next, we describe in detail how the technology is implemented.
Delayed Proof of Work & Komodo
Through cooperation with Komodo, the SIN blockchain integrates a service similar to "notarization" in the Bitcoin blockchain. The service is called Delayed Proof of Work [5]. Block hashes from SIN will be written to the Komodo blockchain every ten minutes. In turn, also every ten minutes, Komodo's notary nodes write block hashes from their blockchain to the Bitcoin blockchain. This means that every transaction recorded to the SIN blockchain prior to each notarization is fully protected by the hash power of the full Bitcoin blockchain. Malicious attackers cannot cause harm to the SIN blockchain unless they break through the Bitcoin network.
New X25X algorithm
The SIN blockchain adopts a new X25X POW algorithm. The X25X POW algorithm will ensure that all users can only use graphics card GPU mining. X25X can resist ASIC, FPGA and Quantum mining by adding SWIFFTX to the algorithm chain. This is to ensure that SINOVATE has a fair/decentralized blockchain consensus mechanism for all.
SIN Destruction Proof PROOF OF BURN (POB)
Infinity Node will also implement a Proof of Burn (POB) mechanism to ensure the validity of the blockchain network by ensuring that all participating nodes reach a consensus . In SINOVATE's preset, the POB mechanism will greatly increase the cost of doing evil for malicious actors, thereby further protecting the network. Because SIN coins have to be sent to an unreliable address in order to initiate the burning process. As previously mentioned, Infinity Nodes have an operational lifespan of 12 months and must remain active for the entire duration for continued network stability. The POB protection mechanism will provide this stability for other future features such as IDS, as the reduced circulating supply will significantly reduce selling pressure for investors and increase the value of the assets they hold, creating an overall favorable environment .
SINOVATE Infinity Nodes
"Infinity Nodes" Infinity Nodes are a new invention in the field of cryptocurrency. SINOVATE pioneered this breakthrough technology, which has successfully provided investors with a stable income calculated according to the annual income, while reducing inflation. "Infinity Node" Infinity Nodes is the evolution of the master node and a revolutionary product of the financial interest system.
Masternodes, Proof of Stake (POS) or even POW cryptocurrencies cannot solve the biggest problems of high inflation and high emissions brought about by ambient cryptocurrencies today.
In order to solve the high inflation of cryptocurrencies, the SIN coin used to create "Infinity Nodes" Infinity Nodes will be destroyed immediately! The "Infinity Nodes" Infinity Nodes system completely destroys SIN coins from the SINOVATE blockchain!
"Infinity Nodes" Infinity Nodes will guarantee a minimum annual interest rate of around 22% for rewarding node owners (need to burn 594 million SINs to "Infinity Nodes"), and will also cause market supply scarcity of SINs.
If the number of SIN nodes in the entire network reaches the upper limit, the coin for establishing the node will receive the same amount of SIN destroyed by the established node within the first 300 days of the valid period of 365 days (if the node upper limit is not reached, it will be greater than 300 days ). The supply is 645 million sin, minus the 20 million development team funds. (For transparency and fairness, team development funds will not be locked into infinite nodes)
In the first year of infinite nodes, the maximum number of sins locked by nodes is 594 million. In this case, the existing circulating supply would only be 31 million to trade/buy/sell SIN. If 594 million SIN were burned, it would significantly reduce supply and create a coin shortage.
Similar to traditional masternodes, node rewards are not distributed through ring signatures. In order to start the node reward process, the X25X algorithm looks for the first 30 nodes across each infinite node layer, and each individual block, the program will use the average calculation, and must be in this list. Large, medium and small nodes must exist.
All infinite nodes have a theoretical lifetime of 12 months, after which time they are removed from the node count. Node payments will be received daily for one year. At the end of the lock year for unlimited nodes, those nodes are burned forever. The overall burning process will be completely transparent, and the burned coins will be sent to the address: SinBurnAddress123456789SuqaXbx3AMC
Unlimited node types and reward distribution
There are three types of unlimited nodes
Small nodes (requires 100,000 SIN)
Medium node (500,000 SIN and 5% additional return)
Large node (1 million SIN and 10% additional return)
Remarks: To ensure the normal operation of the node , each node requires an additional 10,000 SIN as collateral.

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