I think that if the devs are able to deploy useful tools ASAP to promote the primary function/use-case of Sumokoin or other similar cryptocurrencies for that matter (i.e. conveniently/easily transacting P2P just like cash) and therefore achieving mass-adoption as a consequence, it will have a very good chance of outpacing its sibling/parent sooner than later. For example, I have been wanting to be able to transact P2P with XMR within my circle like I have been able to do so with BTC for years now but to date, XMR has yet to release a simple, functional, secure and private mobile wallet (Android, etc.). It's really not practical or convenient lugging around a desktop/laptop (requiring WiFi connection) just to transact P2P (person-to-person just like with cash). I strongly believe that this is "key".
Ideally, the mobile wallet would connect by default to trusted, private and secure nodes (for user friendliness out of the box) designated/supported/endorsed by the devs that are devoid of any form of "logging" with an option to connect to one's personal/private nodes running at home or other locations that he/she has control over (for advanced/paranoid users). This is in accordance with the fungibility/privacy/security ethos of Sumokoin and similar cryptos that claim such features.
Good luck, devs!
Thanks. Really a good direction for devs. |
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It will have to be better than Monero to succeed.  It needs to be different enough from Monero in some (or more than one) way. Different does not necessarily mean better (or worse). The differences can be technical or they may be related to branding, adoption etc. We shall see what happens. You are right, branding is as important as technology differentiating. Thank you. |
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SUMO has potential definitely. While monero was good 1-2 years ago, now it's losing and there is almost nothing happening there. I can see SUMO replacing monero if:
- a massive campaign will convince common people to use it
- merchants will receive tools, API and support to implement it
- there will be constantly growing dev team, following plans on the roadmap
- adoption depends on user-friendliness, still a long way to go for any cryptocurrency
It's simple to mine it, but there is no other reason why anyone should look into this. Can you buy something with SUMO these days?
With above steps, coin will certainly get the kick and move onto big exchanges. But going the opposite direction will lead to dumping and eventual death of the coin.
All good and constructive ideas. Thank you. |
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Just to be clear, the only differences between monero and this coin are:
1 - 10% premine
2 - minimum mixin of 12 enforced from start of network
3 - emission curve
4 - ?
Are there plans to diverge further, or just continue merging changes from monero?
We'll work in both ways. Important innovations from upstream must be merged to Sumokoin for the best features. Ofc, we have our own vision for the coin, at least, it would be better privacy, easier to start atm. On the other hand, we'll focus more on ecosystem like wallets, mobile, merchant APIs etc. It'll take time for the coin to gain more traction from community and for devs to implement better wallets, tools etc but we'll do that with high responsibility and long-term commitment. I have been watching the Sumokoin and Monero threads for a couple of months now as part of my due diligence research, and I think you have correctly identified "ecosystem" as Monero's main weakness in relation to Bitcoin. I seem to keep coming back to this part of the Sumokoin mission statement though - - Do you have any relationship with The Monero Project?
- No. While we have full respect for all core developers of The Monero Project who are competent, open and smart, however, we've never had opportunity to contribute anything to Monero yet (we hope we will).
Why have Sumokoin developers been unable to work with the Monero team on improving the ecosystem? Excellent question. We always want to contribute back to Monero projects. Atm, we can only contribute patches to Monero core when possible. When we have more matured tools/ideas, we surely work with Monero if they are ready to cooperate but I think it may only happen in the next 6 months or so. |
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Just to be clear, the only differences between monero and this coin are:
1 - 10% premine
2 - minimum mixin of 12 enforced from start of network
3 - emission curve
4 - ?
Are there plans to diverge further, or just continue merging changes from monero?
We'll work in both ways. Important innovations from upstream must be merged to Sumokoin for the best features. Ofc, we have our own vision for the coin, at least, it would be better privacy, easier to start atm. On the other hand, we'll focus more on ecosystem like wallets, mobile, merchant APIs etc. It'll take time for the coin to gain more traction from community and for devs to implement better wallets, tools etc but we'll do that with high responsibility and long-term commitment. |
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DEVELOPMENT PATHI've just published dev path to the very first dev blog here: https://medium.com/sumokoin/sumokoin-development-path-2c5e0fd1b0faHere are dev tasks in the next 3 months: ** Core:++Sub-address: Feature to create a disposable, temporary address for receiving funds without being tracked or linked to main wallet address. Main dev: Haruto Tanno Target release: late Aug, 2017 ++Multi-signature wallet: Feature to create multi-signature wallet for team, corporate uses or for better security. Main dev: Sumoshi Tanaka Target release: late Aug, 2017 ** GUI wallet: Next BETA release. Various improvements on UI/UX. Better logging and compatible with OSes. Support multi addresses and sub-address. Main dev: Bill Aue Target release: Sep, 2017 ** Lite wallet: Online wallet for instant use. Dev: Vu Quang Target release: Late Sep, 2017 or Oct, 2017 ** Sumokoin Easy Miner: A side project by Bill to make a cross-platform GUI for CPU miners with easy to start Dev: Bill Aue Target release: Aug 2017 Please read the blog article for full info. EXCHANGE UPDATEWe've also submitted Sumokoin to Bittrex for listing consideration, but have no response from them yet. I know that they are very busy for new coins, ICO etc. so if you can contact them for some good introduction about Sumokoin that may help. Email: support@bittrex.com or your personal contact if any. Thank you all for support.
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Alright... my interest is piqued. I've read through the thread but don't want to search or review it -- how does one go about joining the Telegram group, again? (Perhaps this information can be added to the first page/announcement of the thread.)
Can't you click to the link and join Telegram right away? If not, please download Telegram first. Link to join Telegram Group is also at header of ANN post: https://t.me/joinchat/F8RH2kPmFCnA-igHBKSCAABy the way, the difficulty and hash rate increased sharply today (perhaps there has been a greater interest in Sumo recently). For example, from within the daemon at the moment (using the diff command), the hash rate is 2.57 MHz and the diff is about 617 million. The crazy thing is the pools have hash rates of 122kHz + 223 kHz + 35 kHz, totalling 380 kHz, So, the bulk of the network hash rate is a lot of folks solo-mining (totaliing 2570 - 380 = 2190 kHz = 2.19 MHz)??
There must be some pools or hashrate sources we don't know yet |
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I'd like to join the slack, Can i Get an invitation link please ?
Slack is not very active, if you have a specific reason to join, pls PM me your email for invitation. |
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Do DEV have any update about new markets? That would be nice to know...
And a question for the communitiy: how can I help to promote the coin? I am quite a noob... what can I do? Any ideas?
Stay tuned, guys. Sth is in progress |
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i think in future, need add dark color scheme for wallet GUI like this  that more correlate with logo colors my opinion sure  We wanted sth more colorful for wallet |
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We need slack, telegram or discord where we can chat and communicate, why we still don't have them? One of the most important things....
TELEGRAM GROUPAs Slack seems too strict for general discussion, we've created a Telegram chat group here: https://t.me/joinchat/F8RH2kPmFCnA-igHBKSCAAPls join it freely for discussion. @sumogr and @fiex have accepted to be admins for chat room. Thanks. |
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New dev joined
I would like to inform that Quang Vu has joined our team since July 2017. Vu had worked with Bill in several projects before and he will focus on Lite Wallet -- the online wallet service similar to MyMonero that doesn't require to download full blockchain and more suitable for mobile devices. There is no specific date to release lite wallet yet though we expect in a few months. Online wallet will come first, desktop client, mobile wallet later (we will update dev path soon).
Regards,
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Great, Bill!!!
I cannot expect anything more from one-month (and half?) job from you.
I will update announcement post and website (maybe, need a little redesigned) for this wallet when Mac + Ubuntu versions out.
Thank you.
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Hello,
Thank you for the reply. You don't have to buy trust, you guys have got a really nice setup here, so this is what makes me have interest in this coin.
All I am asking now is what will happen exactly with the escrowed premined coins in 2020 will they all be released in one go? How do you protect yourself from being greedy? Could it not be setup in a way that the release of premined coins get's spread out over years later? If the premine is mainly to keep the project going there is no requirement for all the coins to be released in one go?
Many questions around the premined coins, most are valid ones, so I'll break them down: 1. All I am asking now is what will happen exactly with the escrowed premined coins in 2020 will they all be released in one go? Though it'll be quite a long time to July 2020, devs did discuss about it. We want to keep less than 15% premined coins to total supply unless the market requires more (but I doubt), so it's much likely we'll have another escrowing round after all coins released. 2. How do you protect yourself from being greedy? Hard question with no full satisfactory answer I think. We don't feel greedy now but you guys must always keep eyes on devs' actions and punish them when smelling sth wrong, that's a way to keep us from being too greedy. 3. Could it not be setup in a way that the release of premined coins get's spread out over years later? Now, almost all premined coins are locked in blockchain, we cannot do anything with them, only when they are released we can do sth as said at (1) above. 4. If the premine is mainly to keep the project going there is no requirement for all the coins to be released in one go? Not really sure what you mean. Until now, premined coins are mainly used as incentives for contributions, very small sums, but it can be sth to keep project from being abandoned if it requires full-time jobs of some devs in latter years. I think it'd always be better than nothing. Thanks for your interests. At the end, I think if you doubt about 2020 release, you can always have option to sell all coins before that, right? |
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To address community concern about premined coins, devs decided to lock majority of them (98%) in the following escrowed wallets until 2020: Wallet 1:Address: SumonzyoAnidrp3B6WhbntJLRJsPRD7LiSd2e5HjRV9h6qWj6ia2ihgRXn8ZwmwfQgZ1mL9EkcsBcELL4h84v1yhMF9opLgjM1j
Viewkey: e6e58faa93dba88315f67f53cba9413ebf0f423badb62696aa28ce6c0db2df00
Locked amount: 600,000 -- Until height#: 153600 (July 2018)
Address: SumonzyopdC7egt7MWhJcNfR3ktmfWqPNcu3Sb9aejAZ48W4a1ZW95vjXyQDuLLg2gSN8GkP3474R2wRr1h9ggy2BUHhbrLJJ51
Viewkey: 25ba5fa5abb5f99962754001ff631e01684f9a59871d798a20a1658ba31c950c
Locked amount: 900,000 -- Until height#: 285091 (July 2019)
Address: SumonzyoK3hCffFQ8djaKZhokmPZsiuEaeLfEtnJfTXVQV3ce3mNHKHQ5kYLPVfNMsS7dhmyHihvhfKU6xXCrmaL4RVDo8eR3gB
Viewkey: 1a8c55e52f7f80da3dfd2eadf71a74afb3242c20168ad888b57f483dbc38b00e
Locked amount: 1,100,000 -- Until height#: 416581 (July 2020)
Address: Sumoo4aMxWbLgqVazxbiNNFSDyhBEonRf99KmceTEnYUCWUQR2gXF1617P8xQxaMcGi5BAU7juzThSTboV6e1gitSjkfjq2zgY2
Viewkey: e12497b6dc6c2cbaf7b311e54b93e4e5f6367acda69a49f9ef20c51d9c689f00
Locked amount: 6,100,000 -- Until height#: 416581 (July 2020)
After all amounts are unlocked (in 2020), further escrowing can be considered depending on community/market. |
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Now that the network is functional again, maybe the devs can set up TLS ports on their mining pools? Pretty please?
Also, did you fork from Monero recently enough to be compatible with snipah's pool software? PPLNS will help prevent pool hopping and benefit the regular miners, just like the recent difficulty fixes.
Probably, Bill will have a look at this when he has time |
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It is amazing how fast and accurately difficulty adjusts itself with respect to current network hashrate.
Devs you have my outmost respect for your skills. This difficulty adjustment algo is a breakthrough
I agree! I'm glad I'm able to mine this coin again, it seems to have a promising future. I'm currently mining at around 4.6 Kh/s and watching a fair amount of coins coming in. We are pleased to say that the hardfork went smoothly and, more important, now network difficulty can adjust fast enough to true users' hashrate. The Cryptopia's wallet has been back for a while and you can transfer in/out now. Thank everyone for kind support and great patience. The fork had turned out not easy job given many factors to consider like time limit constraints, responsiveness, timewarping etc. But as @syncmaster913n said in Slack: To be honest I am very happy that this problem happened so early because it allowed everyone to see how you react to pressure and how you handle difficult situations. I think this was a great test for you as a team of developers.
Devs have the same sentiment and we can now focus on next stages. |
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Damn, hash rate on the official pool is only around 40Kh/s and sumo.ms-pool.net is over 1.7Mh/s - is that gonna cause any issues with the HF?
I don't know. What we much worry about is the block reorganization and high hashrate may cause it. Hardfork, if working as designed, will just increase network difficulty to the true hashrate in a few blocks. It, by no means, can reduce the actual hashrate but you can hardly get much benefit to mine with too high hashrate. |
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