Sumokoin AMA Recap : Cryptoscreen Community

Earlier today the Sumokoin team joined the Cryptoscreen Community Telegram to connect with the community and answer any questions they had relating to Sumokoin mission, tech, progress on our journey so far, recent updates and our plans moving forward. Julien System Handler at Sumokoin and Mandarihnen IT infrastructure at Sumokoin took part in a particularly exciting AMA session which included introductions, questions from twitter, and a live AMA session with the Telegram community. If you missed the AMA live, have a read through this recap to gain some deeper insights into Sumokoin, You also need to know that our AMA this time has a $100 prize in SUMO

INTRODUCTION

Samuel Yabes:

Before we enter the first session, we will ask a little about your background😊😊😊 , tell us a little about yourself and what part you took on Sumokoin?

Julien:

i am a systems guy so i handle parts of the infrastructure as well as part of the communication for the project.

Mandarijnen:

Well I am on the support team! Also background in IT infrastructure.

Samuel Yabes:

Alright, we will start the first session (project introduction).

we will give a question about Sumokoin , when you have finished answering, please say "done".

Question 1:

Can you please explain to us what is Sumokoin ?

Julien:

Sumokoin is a cryptocurrency with its own blockchain, so it is no token on ERC20 or something similar as we’re maintaining our own blockchain to achieve the project’s purpose, and our main selling point: Extreme Privacy.
With Sumokoin you cannot see how many coins another person has by knowing a wallet’s address. In addition to this, Sumokoin of course has a wide variety of privacy features. Ghost-adresses for example are one of those where you can create a 'one time' Sumokoin deposit address for any recipient, a person or an entity (an exchange for instance) to send your coins to Thanks to this, your recipient cannot find out your main address. Even if the original purpose was to be a one-time address, you can use it as many times as you want.

A more recent feature is Dandelion++. Sumokoin was one of the first cryptonote coins to integrate this groundbreaking gem. Without getting too much into details, this technology makes it impossible to trace back the IP address used in a transaction. Therefore even your exchange gets fully protected by this technology when you send the Sumokoins you just purchased to your wallet. :)

Question 2:

What is the significant thing that really distinguishes this project from other projects, and why should I choose this project?

Mandarijnen:

Sumokoin has been around for more than three years, and still keeps innovating like on the first day, this shows the continued dedication of the team, something that not a lot of the smaller coins can claim. Despite being anonymous, all the original founding members are still involved in the project, joined over time by some valuable additions to the team, scattered across the globe!

To our credit, the main thing which distinguishes us is our everlasting devotion to the ideals of privacy and security. At a time when countries and governments progressively get more and more involved in cryptocurrency, it is a real asset to offer to users a really secure and private coin on which transactions cannot be traced back.

Question 3:

Where is the exchange ready to accept the trade?

Julien:

Indodax, Hotbit, Citex, Coinex, Bilaxy, QBTC, GJ.com, Bitalong, TradeOgre, Livecoin, txbit.io and Exrates.

Question 4:

We know Sumokoin is made with very high privacy, so can you explain a little about the security system you are using?

Mandarijnen:

We are a fork of Monero, and we are up to date with all the latest features (Dandelion++ is a good example of a fairly recent and significant addition to the codebase). In addition to those, we have been adding our own security measures by using a much higher ringsize (49) to conceal the sources and amounts transferred and make it strongly resistant to blockchain analysis. We have an excellent web wallet where absolutely no information about your wallet is stored on the server, as the blockchain scan takes care in your browser. No other working web wallet offers this and even less with our strong privacy features!

Question 5:

Does Sumokoin have its own wallet? , if Sumokoin already has its own wallet can you explain what are the advantages and where can we get it?

Julien:

In addition to the web wallet, we have a CLI and a GUI wallet. The GUI wallet is an original project, developed entirely from scratch by the Sumokoin developers, it downloads the entire blockchain, every transaction is generated locally and sent back on the blockchain. There is no server in between as such a method could seriously comprise the security of the transaction.
You may download it from the website, which on its turn links you to our Github repository where the entire source code is available for everyone to check and audit.
https://github.com/sumoprojects/SumoGUIWallet/releases

TWITTER QUESTION

Question 1:

Why does the Sumokoin project choose indodax as an exchange market, will Sumokoin focus more on Indonesian investors going forward?

Mandarijnen:

The Indodax market was a great project but also a great risk for a small coin such as Sumokoin. Indodax is one of our many exchanges, but definitely the strongest and biggest at the moment. Since 2019, we have been seeing a lot of attention coming up from big Chinese players but Indodax is as of now the biggest project and it has a special place in our hearts, as well as the overwhelming support we have enjoyed from the Indonesian community over the years, a very friendly and dedicated community we particularly appreciate.

Question 2:

If in the Blockchain projects there are many leading projects that aim to become the king of the industry etc. can you explain how this SUMO standard can work in the future?

Julien:

Easy; privacy and security. Most projects don’t even earn the right to be called a coin, they are just tokens on the ERC20 chain, they do not run their own infrastructure and offer no real privacy. And those who do maintain their own blockchain, usually stop with their main hollow selling point named "smart contracts", a fad from 2017 for which nobody has an actual use for. In our vision, privacy and security are the features people will look for in an actual cryptocurrency.
People don’t want their digital coin to be yelling "smart contracts", they want their coins to be yelling "secure and private!".

Question 3:

If we look at the sumokoin roadmap, the last sumokoin roadmap is in Q3 2020. have all the sumokoin roadmap targets been reached? is there a new roadmap after 2020 and what will be done?

Mandarijnen:

Our roadmap is not set in stone. Most new ideas coming up (like the ideas underneath the web wallet structure) appear and are implemented on the spot after testing.
In addition to our own development, we also choose deliberately to take the best of what other coins have to offer, in case it integrates well into our project and fits with our ethics. This is the spirit of open source, what it is all about.

Question 4:

Can you explain how is the progress of the Sumokoin market condition so far? and give me some good reasons why I should buy and hold for sumokoin?

Julien:

We are here to stay. Our track record shows this, we are secure and trustworthy. We’ve been through a lot of FUD and keep working, we persist where many other coins would have thrown in the towel long ago. You can check the continued and regular development on our GitHub repository here:
https://github.com/sumoprojects/sumokoin/actions

Question 5:

Why did Sumokoin choose cryptoscreen community to be made as a place for AMA? Is this community good? And whether in the future will hold another event in this community?

Mandarijnen:

We often get contacted for AMA’s. We had a few ones in the last year with the Chinese community, which proved to be successful and brought in a lot of Chinese users. The reason Cryptoscreen stuck out was their open communication and the best example to give is when we had a change in the graphics, it was done on the spot. It may be small things for some, but it shows experience and professionalism.

LIVE/FREE QUESTION

Question 1:

RingCT security protocol is the most powerful feature of the entire deposit mechanism.
So, What makes it so special? Can you tell us more about RingCT security protocol?

Mandarijnen:

go all google RingCT guys! :)

Question 2:

What is the difference between Web Wallet (global) and Web Wallet (Mainland China access)?

Julien:

To answer it. we have a special (default) chinese webwallet with better accessability for users behind the great (fire)wall.

Question 3:

I have read that Sumokoin, was initially based on the CryptoNote protocol, inherits all whitepapers and academic studies from CryptoNote and Monero Research Lab.
I want to ask how does Sumokoin different from CryptoNote and Monero and what is Sumokoin main target?

Mandarijnen:

We’re (just as Monero) based on Cryptonote. Like Monero who beefed up the cryptonote protocol from Bytecoin, Sumokoin has beefed up the code from Monero.

Question 4:

Sumokoin and Monero share so many good features, like privacy , untraceability and Decentralized, but... Also must share the bad ones like be used to innapropiatted behaviors like Cybercrime, so how you prevent this last issue?

The Major of the "pool Power" is based on China and France, but the Official Canadian pool says that have API error, so when you gonna fix this?

Mandarijnen:

Forwarded to the tech team, thanks for finding out! :)

Question 5:

What is the structure of the company, is it a decentralised, open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?

Mandarijnen:

We have a contributors and we’re open sourced (check our github). Our founder in Vietnam checks and pushes everything through after studying it with his team. Speaking about it, there was a dev asking for pushing stuff for our next release, but although we’re all having difficulties with COVID, the holidays are still a thing. :)

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