Deterministic Infinity Node 1.0

The transition from the previous code to the version “Infinity Nodes 1.0” passed in november 2020 has significantly strengthen the development of Sinovate technology by offering unique programming for its blockchain.

While waiting to discover what could become a new benchmark in blockchain, I suggest you explore the advances and new features brought in this future version, starting with a small summary of the SINOVATE project and its characteristics, including the Infinity Nodes.

Infinity Nodes: history and technology

As a reminder, SINOVATE (SIN) is a project launched in the second half of 2018 under its original name, “SUQA.” It is a project that aims to develop new technologies with a spirit of “pure” blockchain applications, it is open for all to join and contribute, with open-source code and decentralized across the globe.

The project had a “fair launch.” i.e., it was born without an ICO, without any pre-mining. SINOVATE quickly gained popularity through the mining community, notably thanks to its x22i mining algorithm, which later evolved to the X25x on which the project is running today, for the Proof-of-Work layer.

Very quickly, the project moved towards a masternode architecture wishing to expand its network and the resilience of its blockchain, but also considering several technical advantages brought by this technology. Having in its DNA the spirit of innovation, SINOVATE has developed an improved version ok MN tech, initially influenced by the masternode code of Dash, to make Sinovate’s Infinity Nodes.

Traditional masternodes have a component, recognized to have the potential to generate hyperinflation in the projects in which they are implemented. SINOVATE wanted to solve this component by introducing the Proof-of-Burn of the collateral in its Infinity nodes.

We will discuss the many benefits both economically and technically for the long-term development of the project a few lines below!

In June 2019, the current unique first generation of Infinity nodes was released. The general principle of an Infinity node is that the user must burn the setup funds by the proof-of-burn protocol, and then the user earns the rewards for a limited period of one year of existence of the Infinity Node.

This period during which the owner will receive daily interest, will be used first to capitalize on his initial investment by receiving blockchain rewards, then to generate a reward for the running of the node.

Three tiers (formats) of Infinity nodes currently exist 100K SIN, 500K SIN, and 1M SIN, with rewards per block equally distributed to all active nodes. The ROI (Reward on investment), as in many masternode architectures, is directly proportional to the number of nodes in the network.

The advantages of using Proof-of-Burn in this technology are numerous.

From a technical point of view, PoB secures the network by many aspects that we will not detail here but significantly increase the difficulty and costs for any bad actors. Still, on the general and especially economic principle, it allows avoiding inflation by limiting and spreading the token emissions, even creating a deflationary system if we consider that all transaction costs also get burnt.

Today, more than 65% of the issued coin supply is burnt in the nodes, generating a low number of SIN in circulation, and therefore a tendency is for those is to become rarer.

The economic model is designed so that as the project develops and more features are added and used, more tokens are burnt, reducing supply and increasing demand. SINOVATE is promising a decreasing supply that will never exceed 800 M coins infinetely .

The Sinovate project is bringing a long-term vision of his development. Consequently, this novel architecture will ensure a perennial ROI for investors who support the network. The significant effects are the stability, reliability, and limitless growth of its infrastructure.

Infinity node 1.0 : the ambition is displayed

The Infinity node 1.0 code marks a turning point towards what SINOVATE has planned for its network, which is to develop the decentralized cloud services called IDS (Incorruptible Data Storage)

Infinity node 1.0 is now using the unique new code, completely redesigned from the ground up and removing the original Dash masternode code. SINOVATE is the first platform of its kind to use the pure 1.0 code, which is not designed and released by Dash.

This release makes the following additions:

• Independence from the security flaws of the masternode structure
• A safer and faster network
• Inter-network bandwidth and CPU usage of the nodes are both optimized.
• The addition of the revolutionary “on-chain node” structure.
• Deterministic Infinity Node infrastructure : equal rewards for all nodes owners , with an unique “lockreward” consensus .
• The implementation of the Schnorr Signatures instead of BLS ones , which make the network more efficient and make it consume less CPU ressources .
• The automatic activation of an Infinity node, the nodes will communicate in the chain (deletion of the “start alias”).

During the transition phase, dual networks on mainnet has been implemented: Infinity 1.0 and legacy nodes performed in the same network until the switch to Infinity nodes 1.0 code only.

The SINOVATE ecosystem, the winning technical-economic compromise.

As mentioned above, the objective of the resulting network is to increase its capacities significantly but organically, not only to create an economic attractiveness for serving the platform itself but also for the investors to receive benefits from their investments.

The structure functions and renews itself through the nodes’ expiry cycles, which punctuate the process. These expiry waves will smooth out with time to achieve smooth and homogeneous operation.

We can explain this architecture by detailing the roles and objectives of the two components, on the one hand, the investor profile and, on the other hand, the global created network.

Then by analyzing the synergy taking place, it will be easier to acknowledge the state of the network influences the investment and vice versa!

Here is a diagram detailing the whole that we are going to explain:

When describing the parameters on each side, the central element to consider is that the ROI is proportional to the number of active nodes on the network, as you can see below on this sample chart for MINI tier node .

Network part

The objectives are:

• Full decentralization
• Safety & stability
• Efficiency / operate speed
• Large capacities
• Perpetual Maintenance & Expansion

The network goes through several phases when a cycle starts; the first one is the filling of the network with Infinity nodes by burning (proof-of-burn). The PoB commits tokens to the network forever, which are the revenues from the nodes’ collateral and also all network transaction fees (which are also burnt).

This continues until the total amount burned starts to approach the maximum paid out over the lifetime of the node.

Currently, there is a deficit on the whole SINOVATE chain of about 740 SIN/block averaged since its inception (1 block lasts 2 min).

This phase continues until reaching an ROI ceiling, which will be dictated by the market by the created nodes and when the loaded network will approach 100%.

This brings us to the “Full nodes network” phase. It is the so-called “full” network that is stable, secure, and efficient and benefits from exemplary long-term capacities since several nodes now form an essential mesh that can accommodate storage and other decentralized IDS services.

At the same time, the economic aspect is not neglected; the majority of the corners previously available on the market are burnt, and inflation is wholly regulated.

At the same time, the economic aspect is not neglected; the majority of the tokens previously available on the market are burnt, and inflation is wholly regulated.

The spread of payments over 12 consecutive months discourages node owners from exiting early, increasing the stability of the network, but also aiming for price stability and potential for reward for node owners as the circulating supply is continually reduced.

Finally, the last phase, which is when the nodes expire. That will eventually occur in a smoothed way due to the constant chronological creation of nodes throughout the year.

This phenomenon has already started as we can see below, with the first wave passed on 2020 summertime:

This last phase increases the ROI by reducing the number of active nodes and thus creating an investment window due to the attractiveness of the rate as the network adjusts. It gives investors who have capitalized their original nodes the ability to take over one or more nodes for the next cycle.

It is through this mechanism that the expansion of the network takes place, considering that a specific part of the investors in the n-1 cycle reinvests their profits.

Investor part

the objectives are:

• Contribute
• Capitalize
• Benefit from
• Earn

On the investor’s side, the logic is as follows:

One aspect is the development of the ecosystem, contributing to it by acquiring Infinity nodes while being rewarded.

The Infinity node held on the network is evaluated; the investor provides a fraction of the network for the processing of associated services, for which they will receive annuities for their use (Data storage and management, for example).

The investor also goes through the several phases dictated by the state of the network itself, which correspond to those explained in the previous section.

The global ROI is to be considered throughout one cycle (12 months) since it is dynamic in particular phases.

In the first phase, until the network is full, the ROI will progressively decrease, it will thus accumulate for a time a certain number of coins.

The leveraged effect, linked to the number of nodes on the network, is strong; the rewards received in this period will thus be much higher than a “full network” phase.

The time comes when the network is full and continues to capitalize, although this time with another leverage effect, which is the stability or even growth of the price on the market. This effect will give him an advantage for the last phase if he wishes to reinvest his profits.

If the price rises, the entry ticket for the acquisition of a node will be more expensive, those having capitalized on the n-1 cycle will have a higher power of creation of nodes without having paid more.

In the last phase being in line with the expansion phase explained in the network section, the ROI goes up if the purchased nodes are still active.

This global process allows the sustainable capitalization of nodes in the ecosystem by “node growing.”

Conclusion:

All this is to be considered in the perspective of the development of the finished product having, contrary to a lot of cryptocurrencies, real use and an established business plan, whose continuous and sustainable introduction of funds will be done by renting services to a client population (companies, administrations, individuals).

The main objective is the creation of a decentralized cloud of a unique kind, where everyone will be able to store and manage data on a large scale and in a very secure, private method, and at a very competitive price.

You can find more information on IDS below :

https://sinovate.io/incorruptible-data-storage/

Storage rights on the node network for a certain period will be paid via SIN coins, and unlimited access will be granted via a private key.

Other functionalities will appear, such as mailing, streaming, and others.

For your information, the volumes of this type of service market are huge and have been on the rise worldwide in recent years.

In a world where the increasing and almost exclusive digitization of data is the norm, there is a lack of a tool capable of fulfilling this function without depending on a single, isolated and potentially fallible third party.

SINOVATE’s long term ambitions are the mass adoption of this emerging blockchain technology.

Author : Rémy Bonnieu