SINOVATE (SIN) is a state-of-the-art innovative cryptocurrency project which brings novel and cutting-edge technological features. In March 2021, SINOVATE announced plans to develop three different releases called BETELGEUSE, CONSTELLATION, and DOPPLER. Every release will bring significant improvements in terms of technological features and the expansion of the ecosystem.
Today, the BETELGEUSE release has successfully passed the testnet phase. Still, it requires additional development to fix some compatibility issues between our custom codebase and the Bitcoin core. In July, CONSTELLATION will bring the first technological development of InfiniteChain, the Layer-2 technology of SINOVATE, with sidechains. The recent resolution by the SINOVATE decentralized autonomous organization (DAO) is to combine BETELGEUSE with CONSTELLATION to reduce upgrade workloads and avoid repetitive updates for users and exchanges.
What is the BETELGEUSE upgrade?
BETELGEUSE release introduced different technological improvements such as:
- Bitcoin Core 0.21: The SINOVATE codebase is built upon the Bitcoin Core technology because of its reliability and security. It is a tech-wise-oriented upgrade to improve the development ecosystem and the blockchain infrastructure. Regular users will notice a performance improvement during the network synchronization and smoother wallet usage. For instance, this update will guarantee a higher level of security for “light client” wallets, such as optimizing the “Bloom filters” mechanism that is originally privacy-unfriendly. This upgrade also includes descriptor wallets, TOR v3, new RPCs, and other changes. You can find more information here:
- Proof-of-Stake (PoS4): Nowadays, SINOVATE guarantees Nakamoto’s block validation consensus with a Proof-of-Work (PoW) mining. The network is reinforced with different components such as LWMA, ReOrg Fork 51, and a unique feature, LockReward, to secure the Proof-of-Service (PoSe) layer. Scalability, decentralization, and security are crucial for blockchains and worldwide blockchain-based cloud infrastructures. Even though the X25X used in SINOVATE PoW mining is one of the lowest energy-consuming algorithms, PoS is the king for a greener block validation while bringing an extra layer of security and higher decentralization. Hence, SINOVATE developers introduced a new iteration of the already solid kernel-based PoS protocol pioneered by Peercoin. Compared to PoW mining based on the hardware powers, PoS is the more funds you hold up as a stake, the more rewards from produced blocks you are eligible to receive.
Of course, this release considers other features and improvements. The wallets for Desktop have been designed with three different themes and the “Staking” option! The 1-Click setUP has been improved to propose an increased experience for our users. The Mobile Wallet integrates the 1-Click setUP, enabling users to set up an Infinity Node directly from the Mobile. The SINOVATE DAO developers make all their efforts to improve the synchronization and reduce the latency with the network and applications.
The following list resumes the different implementations performed by the developers during the BETELGEUSE Development phase:
What is the CONSTELLATION Mainnet upgrade?
SINOVATE aims to develop a scalable and multi-project ecosystem of its decentralized Cloud (dCloud). The dCloud requires different features such as a high level of security in its protocol and sustainable infrastructure. This comes with the development of Infinity Nodes in the Proof-of-Service (PoSe) layer, the hybrid PoW/PoS Nakamoto consensus, and in the future with the blockchain-based file transfer protocol (bFTP).
While waiting for the development of bFTP, introducing a Layer-2 called InfiniteChain supported by the BIG Infinity Node Layer (BIL) will ensure SINOVATE is scalable for many projects that want to join the ecosystem. Globally, Layer-2 comprises many protocols to reduce the primary chain’s load by creating “off-chain”. An “off-chain” can then interact with the main chain while executing several operations and providing services.
The InfiniteChain will bring this capacity with the sidechain technology that interconnects the mainchain (SINOVATE chain) with the project’s blockchain with its consensus, protocols, and token. It requires a “two-way peg” contract between both chains to maintain a reliable connection.
For SINOVATE, InfiniteChain brings an infinitely extensive ecosystem for data storage. It will also be possible to introduce the first partnership with Alterra, a real estate company. They will issue a blockchain in the InfiniteChain Layer to maintain and monitor their estates’ contracts, shares, and inheritance.
When will the next update occur, and why a unique release?
The Giant Release, which gathers BETELGEUSE and CONSTELLATION, is initially scheduled for the 31st of July 2021, the date of the CONSTELLATION release. Combining both releases will allow making only one hard fork that offers a more sustainable and trackable development. Furthermore, two releases would lead to difficulties with exchanges and third-party to maintain an updated wallet in such a short time. In this way, SINOVATE removes the pressure on third-party services and avoids the risk of expenditure for everyone or the delay of wallet update for customers who would not be able to transfer their coins.