Nodes are fundamental to how blockchains function to ensure network integrity. They are vital components of a decentralized network protocol. Simply put, they are computers or servers on which wallet client software operates. The main SIN blockchain is the network. Similar to how all other blockchains function, the main SIN blockchain relies upon hundreds of nodes dispersed across the globe without concern for borders or jurisdictions. Each node hosts a replicated copy of the main SIN blockchain. This is what gives SINOVATE its value in terms of security and decentralization.
As well as simple nodes running on a user’s personal computer or server, special nodes similar to masternodes actively enhance the main SIN blockchain. They are called Infinity Nodes. Infinity Nodes can be used to carry out bespoke tasks that simple nodes cannot deliver. The following sections delve deeper into this aspect of SINOVATE.
What is an Infinity Node?
Infinity Nodes are similar to traditional masternodes implemented by other blockchains but have been designed differently for SINOVATE. They help to support the network by granting their holders additional bespoke features via a continuously connected GUI(graphical user interface) wallet. Like simple nodes, a full copy of the main SIN blockchain is replicated by the Infinity Node holder, who is regularly rewarded, daily, with SIN coins as compensation for the resources consumed. It is, therefore, an alternative means by which to acquire SIN coins above the proof-of-work mining layer. Unlike traditional masternodes, the SIN coins used to create an Infinity Node (collateral) are burnt during an irreversible transaction. All SIN coins are immutably sent to the designated burn address at SinBurnAddress123456789SuqaXbx3AMC during the proof-of-burn process. Simply put, the potential holder must be prepared to host the node for 12 months in order to earn a ROI before the node eventually expires. Infinity Node holders are therefore committed to wholeheartedly support the network. There are three tiers of Infinity Nodes, the Little SIN, Mid SIN and Big SIN layers. Each type of Infinity Node requires a different amount of collateral assigned to a specific SIN wallet address. It is then possible to configure a virtual hosted server that rewards the holder for their contribution to the network. It will be described in more detail later on.
Multi-Tiered Infinity Nodes
As mentioned earlier, there are three different tiers of Infinity Node available for users of the SINOVATE network. It is described as an evolution of previously implemented masternode technology by other blockchain projects. Each tier or layer provides different functions, but they all increase the overall decentralization of the network. The infographic below shows the difference between the proof-of-work and Infinity Node layers.
One advantage of multi-tiered Infinity Nodes is that it provides different levels of entry and enables a fairer distribution of nodes. It also ensures a fairer distribution of SIN coin rewards. As is usually the case with other masternode based blockchains, potential node holders are deterred from hosting due to the high cost of the sole offered masternode. SINOVATE is proud of this innovative feature.
The Unintended Consequences
Numerous blockchains have implemented the masternode concept since it was first launched by the Dash cryptocurrency. It is widely deployed as a useful way to enhance the decentralization of a network and provide masternode holders with a passive income. However, there are unintended consequences such as inherent high inflation, a large emission of coins and malicious activity. Unlike Infinity Nodes, the collateral required to create traditional masternodes is not burnt and removed from the circulating coin supply. At any time, the holder can liquidate their collateral by selling the coins on the open trading markets. In combination with the coins generated by the masternodes, this leads to increased selling pressure which, in turn, de-incentivizes the holders from sustaining the node. This threatens the security and operation of the network.
Unscrupulous actors in the space have abused the masternode concept, and some projects with large pre-mines have sold nodes directly for Bitcoin or other cryptocurrencies. In this case, their objective has been to merely increase revenue rather than aid the network.. Other actors in the space have launched projects with diffuse transparency about project funds held in a foundation. Coins held in masternodes have been used to earn further rewards at the expense of all other community investors or traders.
The SINOVATE Solution
Infinity Nodes are a brand new invention within the blockchain industry. SINOVATE successfully implemented this innovative protocol code to solve the widespread issue of high inflation and emission, and the subsequent consequence of deflated value, witnessed in other projects. Infinity Nodes improved and replaced the previous time-lock feature in SUQA (the name of SINOVATE before it was rebranded) by enabling node holders to take advantage of a unique reward distribution schedule. Infinity Nodes are full nodes that provide a swift, secure and seamless user network experience. SINOVATE is proud to be the pioneer of this groundbreaking technology, which successfully provides passive, annual income while controlling inflation. Infinity Nodes are the evolution of masternodes and aim to revolutionize current financial markets. Many other masternode oriented blockchains have failed to address their runaway coin inflation and high coin emission. SINVOATE resolved this issue by implementing code protocol to burn all SIN coins that are used to create Infinity Nodes. The Infinity Node system entirely removes the SIN coins from circulation and the rewards the holder a guaranteed passive income over 12 months. All Infinity Nodes cease to exist once their 12 month lifespan has ended. This feature significantly reduces the emission of SIN coins and helps to sustain the value of the main SIN blockchain.
Infinity Node Tiers & Distribution
As previously mentioned, there are currently three Infinity Node tiers or layers. Each tier requires different collateral in order to create the Infinity Node:
– 100,000 SIN coins for Little SIN – 500,000 SIN for Mid SIN – 1,000,000 SIN for Big SIN
For full transparency, SIN coins used to create Infinity Nodes are burnt and sent to the SIN wallet address below. All coins held in this address are unspendable:
When an Infinity Node is created, the proof-of-burn consensus mechanism ensures that all SIN coins used in its creation are immutably burnt and recorded as unspendable. This process helps to increase the validity of the decentralized network and ensures all participating nodes reach consensus. This feature further secures the network by deterring bad actors who may attempt to carry out malicious activities on the network. By locking and burning SIN coins in an Infinity Node, the node holder has committed himself or herself to uphold the integrity of the network. In not doing so, they lose their collateral and potential ROI. This is not the case with traditional masternodes that can be liquidated and sold at anytime. As previously explained, Infinity Nodes have a 12 month operational lifespan during which time they must remain active to sustain network stability. Proof-of-burn provides this same stability for future use cases of the I.D.S feature. As the circulating SIN coin decreases, the sell pressure gets weaker on the open trading markets. Consequently, the value of SIN investments increases, creating an all-round beneficial environment.