[ANN] SophiaTX Announcement - The Blockchain for Business

[SophiaTX]

Since your own tokens will run on own blockchain, which type of conseus will have? PoS, DPoS, LPoS? I don't think PoW, at this point it's too old fashioned and isn't suited very much for high scalability

We will have DPoS.

[kraterion]

Since your own tokens will run on own blockchain, which type of conseus will have? PoS, DPoS, LPoS? I don't think PoW, at this point it's too old fashioned and isn't suited very much for high scalability

We will have DPoS.

AMAZING! It's my favourite type of consensus, I already own ARK, Rise and Oxycoin. Can I ask you if you already know how many delegates will secure the network?

[levyashin]

Since your own tokens will run on own blockchain, which type of conseus will have? PoS, DPoS, LPoS? I don't think PoW, at this point it's too old fashioned and isn't suited very much for high scalability

We will have DPoS.

I can't be happier.

Dpos is the best system I believe. I have lisk and semux and loving the voting process.

I hate pos because it requires open wallet all the times, don't like pow cause my pc is old. For dpos you just need to vote and forget about it. Love it.

[SEELE^^01]

DPos is really a good choice! much better than pos and pow.

for those who dont know what dpos is, here a explaination:

Delegated Proof of Stake

Delegated Proof of Stake (DPOS) is a new method of securing a crypto-currency’s network. DPOS attempts to solve the problems of both Bitcoin’s traditional Proof of Work system, and the Proof of Stake system of Peercoin and NXT. DPOS implements a layer of technological democracy to offset the negative effects of centralization.
Background

Delegated proof of stake mitigates the potential negative impacts of centralization through the use of witnesses (formaly called delegates). A total of N witnesses sign the blocks and are voted on by those using the network with every transaction that gets made. By using a decentralized voting process, DPOS is by design more democratic than comparable systems. Rather than eliminating the need for trust all together, DPOS has safeguards in place the ensure that those trusted with signing blocks on behalf of the network are doing so correctly and without bias. Additionally, each block signed must have a verification that the block before it was signed by a trusted node. DPOS eliminates the need to wait until a certain number of untrusted nodes have verified a transaction before it can be confirmed.

This reduced need for confirmation produces an increase in speed of transaction times. By intentionally placing trust with the most trustworthy of potential block signers, as decided by the network, no artificial encumbrance need be imposed to slow down the block signing process. DPOS allows for many more transactions to be included in a block than either proof of work or proof of stake systems. DPOS technology allows cryptocurrency technology to transact at a level where it can compete with the centralized clearinghouses like Visa and Mastercard. Such clearinghouses administer the most popular forms of electronic payment systems in the world.

In a delegated proof of stake system centralization still occurs, but it is controlled. Unlike other methods of securing cryptocurrency networks, every client in a DPOS system has the ability to decide who is trusted rather than trust concentrating in the hands of those with the most resources. DPOS allows the network to reap some of the major advantages of centralization, while still maintaining some calculated measure of decentralization. This system is enforced by a fair election process where anyone could potentially become a delegated representative of the majority of users.
Rationale Behind DPOS

    Give shareholders a way to delegate their vote to a key (one that doesn’t control coins ‘so they can mine’)
    Maximize the dividends shareholders earn
    Minimize the amount paid to secure the network
    Maximize the performance of the network
    Minimize the cost of running the network (bandwidth, CPU, etc)

[SophiaTX]

SophiaTX team could you kindly address these allegations?

Hello. SophiaTX is definitely not a scam. We listed here the reasons why SophiaTX is a good project:

• We already have a working prototype! You can read about it on our blog here. There will be another blog that will describe the Proof of Concept in a bit more detail.
  
• We have the first class experts on our team. You can always see members of our team as well as our advisors on our website, where you can also find links to their LinkedIn profiles.
  
• We have high potential use cases which you can find in our Whitepaper, as well as real customers in the pipeline, some of which we will announce before the start of the TGE (probably next week)!
  
• Here is also some media coverage from thrustworty media that we've got: FORBES, iTreasurer, BlockTribune, Global Association of Risk Professionals - GARP, even the SAP.

[SophiaTX]

SophiaTX will be using Decent as a starting point. There is also a discount if you deposit DCT.

Those are the only references to Decent in the whitepaper. There is no further explanation. Why have you chosen for Decent, what benefits does it give?

SophiaTX is a project by Equidato Technologies which is a Join Venture by DECENT and Venaco Group. We are using DECENT's proprietary technologies for building SophiaTX.

[matjas]

SophiaTX will be using Decent as a starting point. There is also a discount if you deposit DCT.

Those are the only references to Decent in the whitepaper. There is no further explanation. Why have you chosen for Decent, what benefits does it give?

SophiaTX is a project by Equidato Technologies which is a Join Venture by DECENT and Venaco Group. We are using DECENT's proprietary technologies for building SophiaTX.

I can definitely see a point in using DECENT now, thanks for the explanation!

[CryptoCutie]

Proof-of-stake sounds nice, all what i must do is hold the SophiaTX  tokens from the ico in my Wallet and earn daily a lil stake

[SophiaTX]

As I understand it, you have your own blockchain, and you sell your coins SPHTX. Why do you call them tokens? Tokens are on the ETH blockchain. Or am I wrong and your tokens will be ERC20? In general, to me need to install your wallet to buy your coins or not?

I found this definition on this page: "The main difference between altcoins and tokens is in their structure; altcoins are separate currencies with their own separate blockchain while tokens operate on top of a blockchain that facilitates the creation of decentralized applications."
Coins are a more universal "coinage" - you can pay with them for a variety of things. Tokens on the other side are used for "one" purpose - in our case for our platform.

Yes, you will have to have our wallet to buy our tokens.  

[SophiaTX]

"The company has also unveiled a working Proof of Concept and recently published a whitepaper revealing significant new details on its functionality and potential for businesses of all sizes." Check out the article by Giga Startups.

[the_donald]

"The company has also unveiled a working Proof of Concept and recently published a whitepaper revealing significant new details on its functionality and potential for businesses of all sizes." Check out the article by Giga Startups.

thanks for sharing. wouldn't it be easier to just burn the tokens at the end instead of redistributing them based on stake? I know it's basically the same thing, but it's better to have a lower cap of tokens.

[S3cco]

SophiaTX Unveils Proof of Concept Business transactions over blockchain; Fast, Secure, System to System automation:
https://bitcoingarden.org/sophiatx-unveils-proof-concept-business-transactions-blockchain-fast-secure-system-system-automation/

The SophiaTX team has delivered and unveiled a working Proof of Concept that demonstrates how companies can exchange information between their enterprise systems, such as SAP, using SophiaTX blockchain. As per SAP company, its software touches 74% of the world’s transaction revenue and is used by 87% of Fortune 2000 companies.

The proof of concept shows the capability of sending a variety of documents and in the demonstration they showcase a customer invoice automatic transfer between SAP systems. The customer invoice was created directly in one SAP system and then automatically transferred via SophaTX testnet to another company using another SAP system. A detailed description of this example, as well as others, can be found in the project’s whitepaper...

[tiger5056]

SophiaTX Unveils Proof of Concept Business transactions over blockchain; Fast, Secure, System to System automation:
https://bitcoingarden.org/sophiatx-unveils-proof-concept-business-transactions-blockchain-fast-secure-system-system-automation/

The SophiaTX team has delivered and unveiled a working Proof of Concept that demonstrates how companies can exchange information between their enterprise systems, such as SAP, using SophiaTX blockchain. As per SAP company, its software touches 74% of the world’s transaction revenue and is used by 87% of Fortune 2000 companies.

The proof of concept shows the capability of sending a variety of documents and in the demonstration they showcase a customer invoice automatic transfer between SAP systems. The customer invoice was created directly in one SAP system and then automatically transferred via SophaTX testnet to another company using another SAP system. A detailed description of this example, as well as others, can be found in the project’s whitepaper...

I am more interested in digging more details about fast transactions (how that is different than other?) and system automation? is there any details available anywhere?

[batako]

DPos is really a good choice! much better than pos and pow.

for those who dont know what dpos is, here a explaination:

Delegated Proof of Stake

Delegated Proof of Stake (DPOS) is a new method of securing a crypto-currency’s network. DPOS attempts to solve the problems of both Bitcoin’s traditional Proof of Work system, and the Proof of Stake system of Peercoin and NXT. DPOS implements a layer of technological democracy to offset the negative effects of centralization.
Background

Delegated proof of stake mitigates the potential negative impacts of centralization through the use of witnesses (formaly called delegates). A total of N witnesses sign the blocks and are voted on by those using the network with every transaction that gets made. By using a decentralized voting process, DPOS is by design more democratic than comparable systems. Rather than eliminating the need for trust all together, DPOS has safeguards in place the ensure that those trusted with signing blocks on behalf of the network are doing so correctly and without bias. Additionally, each block signed must have a verification that the block before it was signed by a trusted node. DPOS eliminates the need to wait until a certain number of untrusted nodes have verified a transaction before it can be confirmed.

This reduced need for confirmation produces an increase in speed of transaction times. By intentionally placing trust with the most trustworthy of potential block signers, as decided by the network, no artificial encumbrance need be imposed to slow down the block signing process. DPOS allows for many more transactions to be included in a block than either proof of work or proof of stake systems. DPOS technology allows cryptocurrency technology to transact at a level where it can compete with the centralized clearinghouses like Visa and Mastercard. Such clearinghouses administer the most popular forms of electronic payment systems in the world.

In a delegated proof of stake system centralization still occurs, but it is controlled. Unlike other methods of securing cryptocurrency networks, every client in a DPOS system has the ability to decide who is trusted rather than trust concentrating in the hands of those with the most resources. DPOS allows the network to reap some of the major advantages of centralization, while still maintaining some calculated measure of decentralization. This system is enforced by a fair election process where anyone could potentially become a delegated representative of the majority of users.
Rationale Behind DPOS

    Give shareholders a way to delegate their vote to a key (one that doesn’t control coins ‘so they can mine’)
    Maximize the dividends shareholders earn
    Minimize the amount paid to secure the network
    Maximize the performance of the network
    Minimize the cost of running the network (bandwidth, CPU, etc)

Thanks for the explanation!
It could help others who doesn't aware about dpos yet including me. Tbh, there are a bunch of things that I don't understand yet till today. Nice to be here where we can learn something daily.

[belechau]

Do you already have any business on board which are trying your software or prototypes?

There's nothing yet to try, the work on prototype is still in progress.

In fact a very advanced and exciting prototype, it is possible to identify the genius in small details of SophiaTx, I saw the video in jhimy fallon and this gave me even more credibility than what the company divulges:

[gaitchs]

Do you already have any business on board which are trying your software or prototypes?

There's nothing yet to try, the work on prototype is still in progress.

In fact a very advanced and exciting prototype, it is possible to identify the genius in small details of SophiaTx, I saw the video in jhimy fallon and this gave me even more credibility than what the company divulges:

As long as their is a prototype it works for me. Shows its a real investment. Good luck

[imtiazmahmood]

Do you already have any business on board which are trying your software or prototypes?

There's nothing yet to try, the work on prototype is still in progress.

In fact a very advanced and exciting prototype, it is possible to identify the genius in small details of SophiaTx, I saw the video in jhimy fallon and this gave me even more credibility than what the company divulges:

also SophiaTX will hold a Token Generation Event (TGE) later this year where the general public can be the first to obtain the SPHTX token before its release on any major exchanges. It is a chance for supporters of the project to be directly involved. The token will be used in the marketplace for a wide range of engagements.

i think this is best opportunity for investors and everyone should join this project.

[jonnytracker]

later this year december ?

[tj4dmx]

Nice project guys, Do we have some free airdrops?

[CryptoCutie]

SophiaTX Unveils Proof of Concept Business transactions over blockchain; Fast, Secure, System to System automation:
https://bitcoingarden.org/sophiatx-unveils-proof-concept-business-transactions-blockchain-fast-secure-system-system-automation/

The SophiaTX team has delivered and unveiled a working Proof of Concept that demonstrates how companies can exchange information between their enterprise systems, such as SAP, using SophiaTX blockchain. As per SAP company, its software touches 74% of the world’s transaction revenue and is used by 87% of Fortune 2000 companies.

The proof of concept shows the capability of sending a variety of documents and in the demonstration they showcase a customer invoice automatic transfer between SAP systems. The customer invoice was created directly in one SAP system and then automatically transferred via SophaTX testnet to another company using another SAP system. A detailed description of this example, as well as others, can be found in the project’s whitepaper...

Nice and fresh Artikel of the SophiaTX Announcement. i dont know that there is a point of intersection for the SAP System, sound great for all the firms that using a SAP system