SINOVATE is an open-source community-driven cryptocurrency company founded in 2019 with a blockchain genesis in 2018. The company aims to build the next-generation cloud using a peer-to-peer network and a decentralized infrastructure that uses secure cryptographic techniques that are scalable with servers worldwide. SINOVATE is the paradigm of decentralized cloud (dCloud), otherwise known as 'Cloud 3.0', the next-generation technology for data storage for users and companies that leverages the power of artificial intelligence, blockchain, and cryptocurrency technologies.
SINOVATE competes with leading decentralized data storage companies like Filecoin, SIA, Ankr, Storj, and Akash that use blockchain technologies. These competing companies provide cloud solutions using blockchain. However, they suffer from different technological constraints such as speed, stability over time, and scalability. Hence, they cannot structurally achieve a solution as efficiently as centralized solutions like Amazon, Microsoft, or Google. And so, SINOVATE started to revise Cloud 3.0 by offering novel infrastructure using disruptive technologies. The company's primary aim is to provide a faster and low-cost solution to companies and their customers.
In 2019, cloud services were valued at US$264.7 billion and were expected to reach more than US$900 billion by 2027. Though the services provide a fast and comfortable experience, the centralization of processes adjusting with the security levels can lead to data breaches. Therefore, decentralizing the operations with cryptocurrency undoubtedly becomes the next milestone for evolving cloud ecosystems.
Realizing this, SINOVATE, in 2019, decided to build an efficient solution like a centralized infrastructure with the benefits of decentralization. The project aims to solve this problem with the help of InfinityNodes and Incorruptible Data Storage (IDS) powered by the blockchain-based File Transfer Protocol (bFTP). The blockchain infrastructure of SINOVATE ensures a fast and scalable dCloud for the best quality services. SINOVATE guarantees decentralization, security, and scalability for its Cloud 3.0 with its unique blockchain and infrastructure.
The company is building the data infrastructure that scales the highly growing demands of the world. SINOVATE can provide data infrastructure that the countries will need for the companies in artificial intelligence, big data, or cloud computing. SINOVATE remains to be a worldwide company that focuses on the good for people around the world. The company is also the backbone for newly created services that prefer to peg a decentralized system than a centralized authority that can manipulate companies.
In 2019, SINOVATE disclosed the plans to develop the most secure cloud services that have higher speed at a nominal cost compared to the traditional cloud services. Since Data is an essential aspect that can transform the world, SINOVATE developed a data storage technique using blockchain to combat ransomware attacks and hacks. The company has achieved two significant milestones since 2019, one elaborating on InfinityNode technology and the other is blockchain refactoring.
The InfinityNode is a peer-to-peer network that can provide different services, including securing the blockchain, fast payments, governance votes, and data storage. Today, InfinityNode is securing the network by validating the generated blocks. InfinityNode requires fundamentals such as a mechanism of contract commitment to guarantee a permanent connection. This contract participates in the economic control and will allow the InfinityNode owner to receive rewards for the services.
Blockchain refactoring is a long process to optimize the blockchain trilemma regarding security, decentralization, and scalability. SINOVATE uses the latest Bitcoin core updates to ensure high code quality, enabling the project to support the latest Bitcoin features. The infrastructure can support up to 2,000 transactions per second, comprises more than 2,000 InfinityNode worldwide, and has a triple-layered security consensus. The last feature makes SINOVATE one of the most secure blockchains globally, significant for storing data.
SINOVATE was awarded the 'Most Exciting Data Protocol' during the HackernoonNoonies-2020 and stood as a runner-up for 'Most Exciting Data Storage and Sharing Project'. Forbes Middle East classified SINOVATE as one of the Top 8 Blockchain Start-ups to watch in 2020 alongside Crypto.com and THORChain. The International Business Times (IBT) listed the company among the Top 12 Blockchains to watch in 2020 alongside TRON, Waves, and Matic/Polygon. The Founder of SINOVATE has appeared in many TV shows of Forbes and BloombergHT.
The company neither had an ICO nor a pre-mine, just like how BITCOIN was introduced. And this component is vital in the cryptocurrency ecosystem as there is no centralized authority leading the project. SINOVATE is appreciated for this aspect by many of its users and investors in the blockchain ecosystem. The company has been publishing its monthly financial reports on Decentralized Autonomous Organization (DAO) and the latest news in its blogs since 2018.
Tamer Dagli is the Founder and CEO of SINOVATE. He had always been an active member in the developing process, and Bitcoin and Satoshi inspired his team without ICO, Premine, or any other venture capital investment. SINOVATE has continued to appear in the top list of 100 GitHub activities since 2018. Tamer, a blockchain enthusiast and a cryptocurrency admirer by nature, played a pivotal role in driving the company towards development with his innovative ideas. Tamer always encourages his team to excel in all aspects. Tamer believes cryptocurrency to be more than a technological evolution that has revolutionized data habits and governance. "Data must be a right to every person", says Tamer.
Blockchain technology benefits from artificial intelligence, big data, cloud computing, and data storage. These technologies helped to provide decentralized, autonomous, economy-centric solutions allowing the data of SINOVATE to store and downloaded easily. Disruptive technologies can benefit start-ups, academic researchers, and companies communicating effectively. SINOVATE, the giant data ecosystem, is set to pave new ways to develop AI with cloud computing in learning and testing phrases. These disruptive domains will also develop the blockchain industry by improving block generation, peer management, decentralized finance, and data storage.
SINOVATE is innovative in its own way. The company's blockchain is unique as it optimizes the blockchain trilemma providing multiple features such as X25X GPU, Proof-of-Work mining, InfinityNodes, Proof-of-Stake, and LockReward. Its services are cost-effective, fast, secure, and decentralized. The company's other features include blockchain-based file transfer protocol, blockchain mail system, blockchain messenger, revolving sovereignty vote, and InfinityChain that allows other companies to create their tokens or blockchains benefiting from the whole data ecosystem in an interoperability way.
"We have many connections with Alterra, a real estate company or Just-Mining. SINOVATE drives innovation with its characteristic towards a community's willingness and the community-driven project is based on this. SINOVATE will realize its milestones and all thanks to its community", says Tamer.
Like Bitcoin, SINOVATE has also faced many challenges in the blockchain industry. The company's significant challenges were building infrastructure, providing protocols, and extending the ecosystem.
SINOVATE provided the InfinityNode technology in 2020 to meet the future storage needs of Cloud 3.0. And this technology requires a custom and cutting-edge codebase for ensuring it to be a tremendous disruptive platform. For this reason, the company had to improve its blockchain itself, but it has optimistically sailed through this challenge.
The company is now thriving to deliver consensus and security layers that can optimize VitalikButerin trilemma offering a decentralized, secure, and scalable blockchain by 2021. This step will be a significant yet challenging one due to the custom codebase and cutting-edge implemented solutions. SINOVATE is yet to propose a mechanism to interconnect the company's blockchain with other projects to build an infinitely scalable ecosystem because of the InfiniteChain Product.
SINOVATE is a company designed for delivering solutions for the future. The company aims to be one of the enormous Cloud 3.0 platforms in the world. "Since the future is to drive data, the InfiniteChain will allow multiple companies to interconnect in the same ecosystem, accelerating the growth of the data industry like never before. SINOVATE will be the reference of Cloud 3.0, like Bitcoin for the cryptocurrency world", says the Founder.
The company believes that the cloud's decentralized processes can bring fairness and freedom in data governance based on cost-effective blockchain infrastructures. Data governance becomes critical between the giant companies because of the data market growth. People are increasingly aware of the risks associated with the data monopoly of big companies, the lack of data anonymity, or the risk of data breaches concerning storage centralization. Therefore, the next decade will see a sharp rise in novel solutions which will handle the issues.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.