What is Sumokoin Coin?
Introduction
Sumokoin was first introduced to the market on May 30, 2017. The currency is under the symbol “SUMO” in the trading markets for crypto currencies to find. Currently there are 2,469,669 units of currency in circulation, while 11,358,558 units exist. In total, 88,888,888 sumokoin will be available at the end of the value chain. The cryptocurrency Sumokoin Coin can be mined by anyone.
The philosophy behind Sumokoin Coin
Sumokoin Coin is based on the CryptoNote protocol, the basics of which were outlined in a white paper by Nicolas van Saberhagen on October 17, 2013. In van Saberhagen is probably a pseudonym of several authors, as is the case with Satoshi Nakamoto .
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The CryptoNote Protocol places more emphasis on security, privatization, and non-traceability than other cryptocurrencies, such as Bitcoin- based cryptocurrencies . At Bitcoin , every user can keep track of who has done what and when. Although this is largely anonymous, personal data behind the public Bitcoin address can still be spied out and a Bitcoin address assigned to a very specific person.
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Sumokoin wants to close this gap. It contains all the advantages that have shared almost all crypto currencies since Bitcoin (decentralization, extensive privacy) and extends it to the possibility of not being able to trace the currency back. As with a real currency, all units of Sumokoin will be treated equally, no matter what business they were involved in before.
Specifications and future developments of Sumokoin Coin
The Sumokoin wallet is currently available for Windows, Linux and Max OS X. A so-called “Sumokoin Easy Miner” was released in September 2017, which makes it particularly easy for all users to mine the cryptocurrency.
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For 2018, the Sumokoin team has many projects that it hopes to realize. A so-called “Lite Wallet ” or “Online Wallet”, ie the possibility to use Sumokoin without a desktop application should be realized as well as the mobile wallets. The latter will be available for smartphones and tablet PCs running the Android operating system, as well as for mobile devices running Apple’s iOS operating system.
What is the current market capitalization of Sumokoin Coin?
The official launch of Sumokoin (SUMO), the so-called “Initial Coin Offering”, took place on May 30, 2017. At that time, the equivalent of one unit of SUMO was $ 0.045572 (USD). The market capitalization, ie the value of the total of all shares was $ 19,325.
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While the value was still strong in the first few days, SUMO has since then been subject to slight volatility until September, with the price of one unit hovering around a median of about $ 0.25.
On September 18, 2017, the value increased dramatically, with individual units of SUMO trading at $ 0.578092, with the stock market rising to $ 873,134. Thereafter, the price was again subject to strong fluctuations, but always remained above the value of the previous months.
On November 26, 2017, SUMO made a further jump with an exchange value of $ 0.883332 per SUMO and a market capitalization of $ 2,045,922. With a similar market value SUMO is still today, even though the value of a single unit has fallen again a little.
Thus, a periodic jump in the stock market value at SUMO can be established.
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