As you all know, we combine two hardforks into one; we have extensive development and bug fixes going on in the background.
Constellation is the name of our massive mainnet network upgrade, and we are slowly but steadily preparing for our deadline.
Constellation mainnet upgrade combines the hybrid consensus of PoW and PoS blended for unbreakable security and involves our sidechain, aka InfiniteChain. This makes it easier for community and exchanges to update once rather than having two updates close together. If you have any questions please just let us know in chat.
Stay tuned to our social media and communication channels for updates as and when they happen.
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. 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.
ANNOUNCEMENTS & ARTICLES
We are very close to our release, a combination of Betelgeuse and Constellation mainnet upgrades.
The combined mainnet upgrade will consist of a new custom fourth-generation proof-of-stake algorithm, aka PoS4.
The new Bitcoin core codebase, 0.21.99, contains vast improvements in security, speed, and accessibility.
Mobile Wallet will include InfinityNode 1-Click node setUP in our mobile application with the never-before-seen node status features.
Binance Smart Chain and Ethereum bridges for DeFi exchanges and more.
Thank you for your patience and tremendous support!
COMMUNITY GROWTH & SOCIAL MEDIA
We continue to experience growth across all social media and communication channels:
Sinovate.io STATS
DEVELOPMENT
We have been, as always, busy developing.
The upcoming Betelgeuse mainnet upgrade and the addition of proof-of-stake for hybrid consensus keep our development team occupied.
SINOVATE (SIN) provides transparency across business and development-related activities to its community. One of the transparency efforts includes financial updates, where all monthly expenditures incurred are provided. We will publish the financial reports continuously forever.
Please see the distribution details for July 2021 below:
Breakdown of Treasury
Treasury funds fee from every mined block: 10%
Marketing: 25 %
Exchange Listing: 25 %
Development: 50 %
Expenditures
Core Developers, Web Developer, Backend Developers, Insight, Nodejs, Mobile Developers, Telegram Community Managers, Discord Community Managers, Twitter , Reddit , Bitcointalk , Writers, Campaign Manager, Regional Managers, Content Creators, Art Director.
Team: 3500K (3,5 million) SIN
Marketing Team and additionally Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters):
Marketing: 1000K (1 million) SIN
Expenditures in July 2021: 4500K SIN (4,5 million SIN)
Below is a breakdown of total expenditures thus far:
Total Expenditures until July 2021: 227,131,000 (million) SIN
Expenditures in June 2021: 4500K SIN (4,5 million SIN)
Total Lifetime Expenditures: 231,631,000 (million) SIN
As shown above, the total amount received into the Development Wallet and the New Treasury Wallet combined currently stands at around 207,975,000 million SIN. The New Treasury Wallet has been created due to excessive transactions within the Development Funds Wallet, an old wallet.dat that leads to technical issues associated with the private key.
Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed 23,656,000 SIN until now for providing funds to enable continued development. Debt owed to Tamer is being paid via the 10% Developer Fee.
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. 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.
ANNOUNCEMENTS & ARTICLES
We are very close to our release, a combination of Betelgeuse and Constellation mainnet upgrades.
The combined mainnet upgrade will consist of a new custom fourth-generation proof-of-stake algorithm, aka PoS4.
The new Bitcoin core codebase, 0.21.99, contains vast improvements in security, speed, and accessibility.
Mobile Wallet will include InfinityNode 1-Click node setUP in our mobile application with the never-before-seen node status features.
Binance Smart Chain and Ethereum bridges for DeFi exchanges and more.
Thank you for your patience and tremendous support!
COMMUNITY GROWTH & SOCIAL MEDIA
We continue to experience growth across all social media and communication channels:
Sinovate.io STATS
DEVELOPMENT
We have been, as always, busy developing.
The upcoming Betelgeuse mainnet upgrade and the addition of proof-of-stake for hybrid consensus keep our development team occupied.
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. 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.
ANNOUNCEMENTS & ARTICLES
We are very close to our release, a combination of Betelgeuse and Constellation mainnet upgrades.
The combined mainnet upgrade will consist of a new custom fourth-generation proof-of-stake algorithm, aka PoS4.
The new Bitcoin core codebase, 0.21.99, contains vast improvements in security, speed, and accessibility.
Mobile Wallet will include InfinityNode 1-Click node setUP in our mobile application with the never-before-seen node status features.
Binance Smart Chain and Ethereum bridges for DeFi exchanges and more.
Thank you for your patience and tremendous support!
COMMUNITY GROWTH & SOCIAL MEDIA
We continue to experience growth across all social media and communication channels:
Sinovate.io STATS
DEVELOPMENT
We have been, as always, busy developing.
The upcoming Betelgeuse mainnet upgrade and the addition of proof-of-stake for hybrid consensus keep our development team occupied.
Released:
cf3156c [DIN] fix burn coin from owner address – crptec
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