But is it anything that promises full delivery of the claimed?
Besides buying some ARRR {Pirate Chain} I bought a lot of SIN {Sinovate} recently. Do not know if their ticker will add any good to its mass acceptation, I would have chosen SNV, INO or SINO, but I could be wrong. But I do tend to look at new and innovative blockchain technologies to invest in. So what's in a name, right? Instead of ARRR I might have chosen PIRCH, PIRC or PIC, each with their own charm. Should have bought way more than I initially did though. At 40 cents it was a bargain. So, with SIN I did take a bigger risk with the reserve I had held back for Cryptocurrency investments. And I'm considering to put in some more. Bought a large stash of SIN when it was selling at 0.006 USA$, and I guess it wont go that low again. But then again, I might be wrong...
Had pulled back out off Polka {DOT} and Cosmos {ATOM} a while back as I did not feel a click. Which might seem a wee odd, but it is also why I got out off WAVE. It does not mean that those have been a wise decisions. From an investment point of view probably the opposite. But sometimes I do things because its feel good and quit stuff that gives me bad vibes. And this is that dreadful moment on which I have to warn you to only invest that what you can effort to lose, or are willing to risk of losing. With that out off the way I can move on by explaining why I do endorse the Sinovate blockchain, by investing in SIN. (Really change that ticker please, it makes me feel as if investing is a dirty deed.) Well, part of it is investing when it is still up for grabs. At some point in the space-time continuum it might surpass Dogecoin {DOGE} in value, which is a heavy inflationary Token. While Sinovate {SIN} is strongly deflationary, meaning they get burned constantly.
This burning proces {Proof Of Burn} can be monitored within the Sinovate wallet. And I do not consider that just a 'gimmick', but an essential part of this Token and its value. (Just like HIVE, heavily under valued.) It is stated that Cryptos like Bitcoin are deflationary, but I would consider halving of the issuance speed not being as such. A provable burn, meaning actually sending Tokens into oblivion by using a non-controllable address, is truly deflationary, from my point of view. In my experience with other blockchains, like Bitshares {BTS}, I did find it strange I could 'burn' my Tokens and then magically make them rise from the ashes again. You know, like a Phoenix from the flames. This is a kind of central control, where I'd be like some central bank, or Ripple. But I was on the lookout for some smart almost rotation system, where the blockchain would do the issuing and burning. Where it actually could burn more Tokens than new ones would be issued. And that is what the Sinovate blockchain does.
Blockchains like Bitcoin {BTC}, Litecoin {LTC} and Dogecoin {DOGE} are the first generation ones. They are very good at what they do. And there is also a lot of innovation going on there too. Sinovate is aiming at what other new blockchains do too. Decentralized (private encrypted) data storage (which is a big thing, I think), that already has proven to be a reason for other Tokens to go up in value. Like Filecoin for instance. Of course any claim can be made, or stated that this blockchain is going places, but at some point it has to prove itself. With two minute block-times and 16 MB sized blocks it outperforms many other blockchains and there will be no more than 800 million Tokens ever. So it will not get as expensive as Bitcoin {BTC} probably. (Yet I do think it could go way up from its current price.)
Besides shadow transactions (privacy) there is something known as flash-send. That way a transaction gets (safely) send within 2 seconds. Although currently limited to a maximum of 10'000 SIN, it might be ideally for micro and mini payments. Or, to buy a cup of coffee with, almost instantly, as that seems to be a standard measurement. And a quite reasonable one I guess. As I would want to use my Cryptocurrencies to actually buy stuff with, without me waiting ten minutes to get it confirmed. The Lightning Network (for Bitcoin{BTC} Litecoin {LTC} and others) already made it possible to pay in Satoshis, almost instantly, which is a great innovation, I think. On the HIVE blockchain a transaction gets done within 3 seconds and I think that could even speed up some in the near future. While HIVE transactions are free Sinovate ones cost 10%, apparently, which seems quite costly to me. But as large amounts get burned in the proces that might be a good thing.
Well, that is actually one of the main reasons that I 'felt' I had to buy a large stash of Sinovate Tokens. As I am expecting that one important development part of the web-3 future of blockchain technology is decentralized immutable data storage. Not only for websites and applications, but also for business and private usage. As many digital services, that until recently, mainly have been centrally controlled by very large (and rich) multinational corporations , will move for a (I think a very large) part to decentralized autonomous organisation blockchain systems. These will run substantively and be able to store and retrieve data at ultra high speeds, while handled extremely safe and being totally immutable. From my point of view seen I think this will take off quite big in the next couple of months. (Not meaning that this accounts for the price of Sinovate {SIN} to rise likewise, that would be merely speculation, I leave that up to you.)
And the data can also be Assets, in a truly fungible Tokenized fashion. But even more interesting, I believe, will be the non fungible type of Assets. Already those are being used as Non Fungible Tokens {NFT}, popular among artists and game-builders, for instance. Yet, the reason I have created Quodlibet {QLB} NFT on Hive-Engine is that I expect more real life stuff is going to be used with it. (Although in its current state I doubt if I already would be able to put it to good use.) One example that I explained to a befriended (very gifted) artist, who works with paint and canvas, is that an analogue painting might be represented by a QuadLiBet NFT. Until it gets 'burned' (by being send to a NULL address for instance), it can be bought and the traded. And when the QLB gets burned the actual property is getting released. To be seen as a final settlement. And that means the actual painting is to be send off to the final owner. (Where part of the initial selling price could also cover the insurance and posting costs.)
It does not have to end there of course. Because the ownership of a car could be handed over by using an NFT setup. And any blockchain technology that makes these things possible in the near future will be those that I think will become more valuable. With things added like bulk product selling and movement it could become useful for coffee bean farmers. Where they can become more substantive, earning a better price per ton. Or documents could get stored and identified as being the right one and the first one of its kind. Those might be contracts also, actually many connections can be made that way between the analogue realm and the digital one. Whereby the secure blockchain technology can help to verify real world movement of goods and services. And I do foresee a future for blockchains like Sinovate in all of this. But I might be wrong and then I'll be left with a large stash of worthless SIN tokens.
But like my late Dad used to tell me to never bet all my money on one racing horse, I have diversified my portfolio. Where I pulled out off some more classic Cryptocurrencies and moved into some privacy related ones. And while I was looking for some innovative ones I came across Sinovate. Could be that I have made a bad choice, or it might become the best investment I've ever made. So far ARRR {Pirate Chain} has been doing amazing. Yet SIN {Sinovate} has not been doing bad, but I keep my fingers crossed for a while. At some point the Sinovate developers have to prove that its project delivers what it promised. Not only that it does indeed burns Tokens like it has been stated, but also on the more usable parts. So, I'll keep my eyes on it, as it makes some bold statements. One thing is sure, the blockchain technology is still very interesting for a geek like me.
