SINOVATE Weekly Update 01/06/2020 ~ 08/06/2020

SINOVATE (SIN) provides a summary of news, progress, and project development every week. This article serves as the latest version of an on-going series, keeping our community informed on all things SIN. Many exciting developments have recently been announced with much more to come. Please stay at home, follow the rules, and most importantly stay safe.

ANNOUNCEMENTS & PARTNERSHIPS

SINOVATE HODL Coin Offering Governance Proposal accepted

The SINOVATE HODL Coin Offering (H.C.O.) Governance Proposal, which for a limited time will permit inexperienced users to earn SIN coins without having to set up an infinity node and purchase a VPS, has been accepted by the SIN community.

The H.C.O. incentive program will swiftly commence after implementation of the upcoming network upgrade and will remain active for 75-days, ending on 30.08.2020. SIN coins must be locked during this period in order to qualify. HODL Coin earnings will be available in three (3% yearly and 0.25% monthly), six (6% yearly and 0.5% monthly), and twelve-month (15% yearly and 1.25% monthly) intervals.

Furthermore, our proposal to increase MINI Node Tier rewards from 160 SIN to 560 SIN per block after the network upgrade was also accepted. As well as substantially increasing earning capabilities for MINI Node holders, this will also enable significantly more nodes to join the SIN network for future Incorruptible Data Storage (I.D.S.) needs. Click here for further details.

As shown below, the SINOVATE community unanimously voted in favor of the above proposals via our discord channel:

We look forward to implementing these measures in due course. Thank you for your fantastic support.

SINOVATE AMA: Live on Zoom

The first SINOVATE AMA live on Zoom was an outstanding success. Hundreds of SIN community members were out in force to ask our team questions on all things SIN, including the following:

  • What is an Infinity Node? How is it different from a conventional masternode?
  • What is the primary use-case of SINOVATE? What are the plans for the future?
  • What are the roles of the tiers in the IDS or data storage model of SINOVATE?
  • SIN messenger direct messaging, how does it work?
  • How do you describe the SINOVATE Economy and Business Model?
  • Why is the actual ROI of nodes so low? Aren’t you afraid that it could go under 100% someday?
  • In a world with so many big players in cloud storage, like Amazon, Google, Azure, which will be our steps to attract customers?
  • What are your plans for marketing?
  • Why was ShadowSend removed?

In-depth responses were provided for all of the above and more. Operating Officer, Community Leader, and investor Tamer Dagli also dropped in an exciting teaser regarding a major exchange listing, which will be announced in July. In case you missed it or would like to watch it again, the SINOVATE AMA can be viewed here. Individual videos for all questions raised and answered will also be released shortly. Many thanks for tuning in!

SINOVATE surpasses 10.000 followers on Twitter

SINOVATE is proud to have surpassed 10.000 followers on twitter. This could not have been achieved without the incredible persistence, hard work, and dedication always shown by the SIN team to increase and establish our marketing presence worldwide. We wish to warmly welcome all new community members to the SINOVATE family and thank our long-term believers for their brilliant support.

SINOVATE releases new GUI Wallet

After 6 months of sheer hard work, the slick, new and improved SINOVATE GUI Wallet has now been released. Substantially enhanced and completely redesigned from all previous versions, this wallet comes equipped with previously unseen features such as an EARN tab permitting passive income, as well as a SIN Blockchain statistics tab displaying the total network hashrate, the real-time price per SIN coin in BTC and other network details. Download our new GUI wallet here.

Thus far, SINOVATE development consists of 430 GitHub commits and 45K lines of code. We remain steadfast and dedicated to achieving all of our goals. Stay tuned for further developments as and when they happen via our discord and telegram channels.

SINOVATE lists on Probit

SINOVATE has officially listed on ProBit Exchange. Based in South Korea, ProBit has steadily established itself as a world-renowned cryptocurrency exchange since its inception in November 2018. Ranked as a top 40 exchange on CoinGecko, with a global top 20 authentic daily trading volume and a trust score of 8, this platform is our most significant listing to date.

ProBit permits advanced security functionality for users through a hardware security key, as well as 2 Factor Authentication. Features also include low trading fees, stake mining for the ProBit native token, and a generous referral program. SINOVATE is available in SIN/USDT and SIN/BTC trading pairs. Read ProBit’s article regarding our listing here. Purchase SINOVATE on the ProBit Exchange today.

SINOVATE publishes updated Light Whitepaper

An updated version of the SINOVATE Light Whitepaper has been published. This includes detailed information regarding the big data problem, innovations and solutions, tokenomics, our business and marketing strategy, milestones achieved to date, and much more. The extended 130-page SINOPEDIA version will be released in July. The SINOVATE Light Whitepaper is available in English and Korean here.

COMMUNITY GROWTH & SOCIAL MEDIA

We continue to experience high growth across all social media and communication channels:

Sinovate.io STATS

DEVELOPMENT

Released:

2771e7a Added german translation (more to come) - randomDevSkillz.

b09b6a8 Updated sidebar.md - hardwarewise.

b6a2424 [depends] Bumped X11 auth - giaki3003.

094bb94 [depends] Bumped libxcb - giaki3003.

f73debf [depends] Added libxkb, needed for newer QT versions - giaki3003.

5dca25f [depends] Bumped OpenSSL to 1.1.1g - giaki3003.

179fbb8 [depends] Added libxkb to the packages list - giaki3003.

2477d2b Added address tp keypair and checkey RPC - crptec.

f3e4964 Removed some space - crptec.

533bb8e Merged branch 'development' of github.com:SUQAOR... - crptec.

f5d61a0 [threading] Locked cs when accessing infman code - giaki3003.

06a6115 Merged remote-tracking branch 'origin/developmen... - giaki3003.

5a6b532 Updated configure.ac - hardwarewise.

f26591b Removed old data from map, avoid memory issue - crptec.

a18ce33 Removed old data from map - crptec.

5553ee8 Separated infinitynode RPC in new file - crptec.

b9432c3 Added remove in thread - crptec.

In progress:

Infinity Node 1.0

  • Revolution of node structures.
    • Pure new custom code.
    • Deterministic Infinity Node infrastructure.
    • Schnorr Signatures.
    • Double run in mainnet.
  • I.D.S. — Step 1

• Incorruptible Data Storage.
• SIN Messenger (Decentralized Direct Messaging).
• Blockchain-based Electronic Mail.

Monthly Update

Our latest Monthly Report can be accessed on Medium:

May 2020 Monthly Report Medium

FINANCIAL STATEMENT

The latest Financial Statement is also available to view:

May 2020 Financial Statement Medium

Join us and stay tuned for all forthcoming updates via our website and social media platforms:

Website Discord . Telegram . Bitcointalk . Twitter . Facebook .Linkedin. Team.YouTube.Reddit.Instagram.

Author: Amit Kaushal

Blockchain dCloud Storage