SINOVATE Bi-Weekly Report 15/10/2021 ~ 30/10/21
The BETELGEUSE mainnet upgrade had successfully passed the testnet phase some time ago. Furthermore, it requires additional development to fix compatibility issues among our custom Proof-of-Stake, Deterministic InfinityNodes, and the Bitcoin core codebase of 0.21x.
We have been developing our upcoming mainnet for a while, but we have encountered unforeseen delays. Delays always happen for code perfection.
Members who have been with us for a long time already know that hardfork times always have delays. As a result, the community is a little quiet, and there is less activity than usual.
However, every hardfork release constantly improves everything and, of course, our code. This hardfork is especially important because we moved to a new codebase, adding proof of stake to our consensus. The proof of stake code we develop is not used before by others because it is our new code. This new codebase and the infrastructure it brings will be the foundation of everything that we will build for the future, so it must be rock solid.
We are here to build a storage platform for decentralized cloud services. That is our only goal. We want to give power of data in the hands of people, and we will achieve this sooner or later in slow but sure steps. While we are waiting for the fixes, We have been progressing with the development of bFTP and b’Mail.
Again, we thank you all for your patience and support, and please always be sure that we will not let you down ever!
ANNOUNCEMENTS & ARTICLES
We are very close to our release of the BETELGEUSE mainnet upgrade.
- The mainnet upgrade will consist of a new custom fourth-generation proof-of-stake algorithm, aka PoS4.
- The hybrid consensus will bring triple-network security for our blockchain.
- The new Bitcoin core codebase, 0.21.99, contains vast improvements in security, speed, and accessibility.
- Mobile Wallet will include InfinityNode 1-Click node setUP in our mobile application with the never-before-seen node status features.
- We prepared bridges to be used in DeFi exchanges of Binance Smart Chain and Ethereum blockchains such as Uniswap and Pancakeswap.
India market launch pre-fork
India is one of the fastest-growing markets for cryptocurrency and has grown by over 600% in the last year. Currently, 80% of the population have a mobile phone, while 20% have desktop PCs. This is a big reason why the mobile wallet is vital for the India launch.
Below is a list of some of the things we have planned:
- Major India Tech magazine that has over 200K monthly visits. Sinovate will be on the cover of this magazine.
- New India exchange will make buying SIN much easier for the Indian community. This will also include a marketing strategy from the exchange to build more awareness of Sinovate by using a range of paid and organic advertising.
- Indian YouTuber with 100k subs and an average of 10k views per video
- AMA’s planned with exchange and two other groups.
- Over 50K subs, Indian Promotion company will have coverage on YouTube and create a series of videos about SIN.
- Mobile wallet is in final tests from the team and will be launched when we are ready with the India market. All I can say about the wallet is wow; having the ability to set up InfinityNodes on my phone was brilliant; even my kids set up their InfinityNode.
- We will not be just focusing on India as we will have another YouTube video planned from a big account (Over 400k subs) covering SIN
It has been three years since our genesis block, and we feel very dynamic as ever.
For the last three years, we have accomplished;
- 770K+ blocks
- 16,414,836 transactions
- 109,755,673 burnt transaction fees
- 1,715,500,000 burnt node colalteral
- 1,304,423 total addresses
- 2002 InfinityNodes
COMMUNITY GROWTH & SOCIAL MEDIA
We continue to experience growth across all social media and communication channels:
We have been, as always, busy developing.
The upcoming Betelgeuse mainnet upgrade and the addition of proof-of-stake for hybrid consensus keep our development team occupied.
MONTHLY NETWORK STATS
The latest Network Stats is also available to view:
The latest Financial Statement is also available to view:
Our latest Monthly Report can be accessed below:
Stay tuned for new announcements as they happen via Discord, Telegram, and Twitter.
As always, Thank you for your tremendous support.
Join us and stay tuned for all forthcoming updates via our website and social media platforms: