September 26, 2018
SINOVATE (SIN) is an innovative state of the art blockchain for decentralized cloud storage launched in 2018. Established as a Decentralized Autonomous Organization (DAO), SINOVATE aims to offer a decentralized Cloud (dCloud) multi-chain ecosystem to answer the future challenges of Big Data and Artificial Intelligence. This ecosystem has the following unique features: 1) Hybrid GPU-based custom Proof-of-Work (PoW) algorithm X25X and fourth-generation Proof-of-Stake (PoS) consensus for block validation which ensures an ultra-secure, efficient, and scalable blockchain technology. 2) Infinity Nodes network for enabling a low-cost, high-speed, and stable data storage platform. This is only possible with the unique 12-month contract commitment and LockReward algorithm for fairly distributed reward systems among tiers of Infinity Nodes. Rewards come from their contribution to the Proof-of-Services (PoSe) layer composed of instant and data storage payments. 3) Proof-of-Burn (PoB) mechanism applied on the Infinity Nodes collateral, data storage fees, and transaction fees. The inflation paradigm solved by SINOVATE will ensure an easy network capacity increase and a novel cryptonomic model with market-dependent self-regulated circulating supply. 4) Regularly updated codebase enables SINOVATE to be updated to the latest technological development from Bitcoin technology. This allows SINOVATE to exploit Layer-2 protocols such as smart contracts or state channels for micropayments based on the Lightning Network. Of course, SINOVATE allows easy development of decentralized applications to provide data storage services and more. 5) Incorruptible Data Storage (IDS), a revolutionary approach for a dCloud environment backed by Infinity Nodes with robust, secure, and unique protocols such as blockchain-based File Transfer Protocol (bFTP). IDS roadmap considers multiple steps with its step-1, B’Mail, in December 2021. 6) InfiniteChain, a Layer-2 that interconnects blockchain solutions of the SINOVATE ecosystem thanks to the sidechain technology. This will make SINOVATE the only one dCloud multi-chain ecosystem in the world. SINOVATE will be infinitely scalable with an unlimited data storage capacity, services, and applications. Alterra, a real estate company, becomes the first partner historically to enter the ecosystem. 7) SINOVATE is bridging with the Ethereum and Binance Smart Chain ecosystem to become an element of the DeFi ecosystem. It will enable SINOVATE to be interconnected with solutions backed by these solutions. SINOVATE mutually joins the forces for an infinite decentralized platform. Specifically, SIN coins will be wrapped, usable, and tradeable on the different decentralized exchanges.