Sumokoin is ..
Sumokoin is a cryptocurrency launched in May 7th, 2017; it is a fork from Monero, and it is known for security, privacy, untraceability, and active development.
At first, this currency started as an educational project, after the creators we found that it would be great to create a new cryptomonnaie with a high level of confidentiality, by (1) moving forward right away to Ring Confidential Transactions (RingCT), (2) setting minimum transaction mixins to 12 that would make it high resistance to blockchain analysis attacks.
- Strong security
Sumokoin uses the power of a distributed peer to peer consensus network, every transaction is cryptographically secured. Individual accounts have a 26 word mnemonic seed displayed when created, which can be written down to back up the account and account files are encrypted with a passphrase to ensure they are worthless if stolen.
- High privacy
With a high level of privacy, Sumokoin set up Ring Confidential Transactions (RingCT) with minimum ringsize of 12(+1) to hide sources and amounts transferred, and make it high resistance to blockchain-analysis attacks.
- True fungibility
This feature makes Sumokoin like physical cash, making it one of the few crypto currencies having true fungibility . i.e. no body can find where the money comes from and how many have been transferred.
Supply & Emission
- Total supply: 88,888,888 coins in 20 years, then 263,000 coins each year for inflation. About 10% (~8.8 million) was premined to reserve for future development, i.e. 80 million coins available for mining (in first 20 years).
- Coin symbol: SUMO
- Coin units:
1 Sumoshi = 0.000000001 SUMO (10-9 – the smallest coin unit)
1 Sumokun = 0.000001 SUMO (10-6)
1 Sumosan = 0.001 SUMO (10-3)
- Hash algorithm: CryptoNight (Proof-Of-Work)
- Block time: 240 seconds
- Emission scheme: Sumokoin’s block reward changes every 6-months as the following “Camel” distribution* (inspired by real-world mining production like of crude oil, coal etc. that is often slow at first, accelerated in the next few years before declined and depleted). However, the emission path of Sumokoin is generally not far apart from what of Bitcoin (view charts below).