[SUMO] SUMOKOIN - 🔏 Digital Cash For High-Confidential Transactions 🔏

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Introduction

Sumokoin (スモコイン in Japanese) is a fork from Monero, one of the most respectable cryptocurrency well-known for security, privacy, untraceability and active development. Starting as an educational project, we found that it would be great to create a new coin with high level of privacy 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.

Sumokoin, therefore, is a new Monero without its legacy, a truely fungible cryptocurrency among just a few ones in the market.

 

Features

 

  • TRUE FUNGIBILITYSumokoin is one of a few rare cryptocurrencies with true fungibility - the feature makes digital currency act like physical cash i.e. no other people can find where the money comes from and how many have been transferred.
  • GREAT PRIVACYSumokoin is created with high level of privacy in mind, setting Ring Confidential Transactions (RingCT) with minimum ringsize of 12(+1) to conceal sources/amounts transferred and make it high resistance to blockchain-analysis attacks
  • STRONG SECURITYSumokoin utilizes 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.

 

 

Supply & Emission

 

  • Total supply: 88,888,888 coins in 20 years, then 263,000 coins each year for inflation. About 10% (~8.8 million, 98% locked in escrowed wallets) was premined to reserve for future development, i.e. 80 million coins available for community 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).

 

 

 

 

 

Escrowed Wallets

Majority of premined coins (98%) are locked in the following wallets:

Wallet 1:

[/list]

Code:
Address: SumonzyoAnidrp3B6WhbntJLRJsPRD7LiSd2e5HjRV9h6qWj6ia2ihgRXn8ZwmwfQgZ1mL9EkcsBcELL4h84v1yhMF9opLgjM1j
Viewkey: e6e58faa93dba88315f67f53cba9413ebf0f423badb62696aa28ce6c0db2df00
Locked amount: 600,000 — Until height#: 153600 (July 2018)

Wallet 2:

Code:
Address: SumonzyopdC7egt7MWhJcNfR3ktmfWqPNcu3Sb9aejAZ48W4a1ZW95vjXyQDuLLg2gSN8GkP3474R2wRr1h9ggy2BUHhbrLJJ51
Viewkey: 25ba5fa5abb5f99962754001ff631e01684f9a59871d798a20a1658ba31c950c
Locked amount: 900,000 — Until height#: 285091 (July 2019)

Wallet 3:

Code:
Address: SumonzyoK3hCffFQ8djaKZhokmPZsiuEaeLfEtnJfTXVQV3ce3mNHKHQ5kYLPVfNMsS7dhmyHihvhfKU6xXCrmaL4RVDo8eR3gB
Viewkey: 1a8c55e52f7f80da3dfd2eadf71a74afb3242c20168ad888b57f483dbc38b00e
Locked amount: 1,100,000 — Until height#: 416581 (July 2020)

Dev Wallet:

Code:
Address: Sumoo4aMxWbLgqVazxbiNNFSDyhBEonRf99KmceTEnYUCWUQR2gXF1617P8xQxaMcGi5BAU7juzThSTboV6e1gitSjkfjq2zgY2
Viewkey: e12497b6dc6c2cbaf7b311e54b93e4e5f6367acda69a49f9ef20c51d9c689f00
Locked amount: 6,100,000 — Until height#: 416581 (July 2020)

* After all amounts are unlocked (in 2020), further escrowing can be considered depending on community/market.

 

Whitepaper & Academic Study

 

 

 

Downloads & Links

 

 

 

FAQ

 

  • What is Monero?- Monero (symbol: XMR) is one of the most popular and valuable cryptocurrencies, famous for openness, active development and innovation. Monero has great support from a large user community and open-source developers. For more info, please visit its official website getmonero.org.
  • What are differences between Sumokoin vs Monero?- Apart from the differences in total coin supply, emission scheme, block time etc. listed below, Sumokoin aims at stability while Monero gets breakthroughs via a series of hardforks (that may put some pressure on exchanges/payment services). It does not mean there won’t be any hardfork in Sumokoin, but not in near future (probably not in years).
    Monero Sumokoin
    Total supply: Infinite - 18.4M in first 8 yrs Infinite - 88.8M in first 20 yrs
    Smallest currency unit:     piconero = 2-12 XMR sumoshi = 2-9 SUMO
    Emission scheme: Smooth varying “Camel” distribution
    Block reward: Adjusted at every block Adjusted every 6-months
    Block time: 120 seconds 240 seconds
    Wallet mnemonic seed: 25 words 26 words

    - Sumokoin also has (slightly) different block size limit/growth and fee structure that would be more favorable for miners.

  • How about development path/team for Sumokoin?Sumokoin wants to be a cryptocurrency that can be used easily by normal users, not only developers, so we’ll focus on:

    1. Developing GUI wallets for both desktop and mobile along with online wallet for beginners.

    2. Working with payment gateways to make SUMO a viable cryptocurrency accepted widely among merchants.

    3. Keeping improvement in coin security, untraceability and privacy.

    Core developers:

    - Sumoshi Tanaka

    - Haruto Tanno

    - Bill Aue

    We hope more will join us shortly.

  • Why should I invest in Sumokoin?1. Sumokoin was created with long-term vision in mind. The coin emission path is quite similar to Bitcoin with (majority of) coins to be distributed in 20 years.

    2. Sumokoin has very high privacy settings that is suitable for all high confidential transactions as well as for value storage without being traced, monitored or identified. In the long run, we believe these characteristics will pay off as crypto attacks become more sophisticated with much greater computation power in future.

    3. Sumokoin has good reservation for development and bases on Monero which is being very actively developed.

  • What do you do with premined coins?- First of all, a project with decent premined coins in most of cases is a good sign of long-term commitment as long as the creators are not too greedy or short-sighted (or both). We set aside 10% premined coins in genesis block to reserve for future development and for maintenance of coin infrastructure (seednodes, websites/forum, tools etc.) and make sure the coin won’t be under-developed or abandoned like many others.

    - Part of reserved coins will be donated to The Monero Project and sponsor for its child projects which benefits Sumokoin like creating disposable/sub wallet addresses etc. (hopefully they are willing to accept donation in SUMO). The rest will be invested to internal projects as specified at “development path” section above.

  • Do you have any relationship with The Monero Project?- No. While we have full respect for all core developers of The Monero Project who are competent, open and smart, however, we’ve never had opportunity to contribute anything to Monero yet (we hope we will).
  • Is this coin Japan-based?- No, with full respect to Satoshi Nakamoto and as our love to Japan’s culture, this coin is named like Japanese but not try to be a Japan-based cryptocurrency. We hope Japanese will use it because of its features, not because of its name.

 

 

Donations

 

  • Core-dev donation address:SUMO:

 

[/list]

Code:
Address (OpenAlias): donate.sumokoin.org
Address (full): Sumoo64zh7dRFyB8dgDWZMLmzKBgGXYWZCG4NBF2VcvzEuiSQpMjyyiYJ1Ra696pZu56PPFQNBDdB1rZjyeX1RVKeWZgHg7pTxj
Viewkey: 5ea8d3a31d3f3b81a8577f442e68458f456a5e3c59d4327bba9e9c9df881ed0a

 

  • All donations to core devs in the first year will be transferred to The Monero Project

 

Thank you!!!

 

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