Sumokoin (SUMO) is a privacy-centric cryptocurrency launched in May 2017, that promises privacy, security and untraceability. It is a fork of the Monero project, which is one of the most respected and fasted growing cryptocurrencies. There aren’t a great number of differences between Monero and Sumokoin, but Sumokoin does have slightly different block size limit/growth and fee structure that should be more favourable for miners.
The hope of the development team is for Sumokoin to be for both regular users as well as developers, having released very intuitive GUI wallets and miners. I’m in the process of setting up the easy miner and GUI wallet myself to give this one a go. Monero has long been a favourite project of mine, so whenever a new currency comes along that uses Monero as a base, I jump on board. Electroneum, launched in November 2017, also uses Monero as it’s core.
This certainly looks like a promising project, with an active development and a focus on privacy, with them setting Ring Confidential Transactions (RingCT) with minimum ring size (mixin) of 12 to conceal sources/amounts transferred and make it high resistance to blockchain analysis. Transactions on the Sumokoin blockchain cannot be traced back to a real-life person. I won’t be buying any of this crypto myself in the short term, but I am setting up the easy miner and GUI wallet as we speak, so expect an update on what you can expect to earn from this one.
What do you think about this cryptocurrency project? It isn’t linked to a service or utility like IntenseCoin, but promises to be a secure, untraceable and accessible currency. Let me know your thoughts in the comments below, and as always make sure to follow me for the latest Cryptocurrency, Internet and Pop Culture updates. Until next time, Peace!