SatoxCoin - A New Gem on the market with Growth Potential x100 and More
Greetings to all.
In recent years, cryptocurrencies have become an integral part of the global economy, attracting the attention not only of investors, but also of the general public. However, in addition to bitcoin and ethereum, there are many other cryptocurrencies on the market, that could become promising investments in the near future.
It is about one such project I want to tell in this video, and this project is called SatoxCoin.
SatoxCoin project has a private ecosystem, and also, allows users to earn their SATOX coins by playing games, participating in tournaments and completing tasks, and also this coin can be mined on your home video cards, id est on GPU chips.
Also, as for the project itself, this project is based on Ethereum blockchain technology and uses smart contracts, to ensure transparency and fairness.
Now let me tell you about the project coin.
So, SatoxCoin, is a cryptocurrency that uses the KawPow algorithm, and works on the proof of work principle, PoW for short.
And here, a reward of 300 SATOX coins, is paid for each block found by the miners, 10% of which is sent to the developer fund for further development of the project.
Also, here, the project team adheres to the idea, that mining should remain accessible to home users, and therefore SATOX will always focus on mining with GPUs.
However, the project also aims to implement the concept of Proof Of Game mining, but only in joint consensus with the PoW algorithm, because the project team believes, that the true cryptocurrency was created based on the PoW mining concept and should remain so in the future.
The project had problems in the past, but a group of four SATO community members, took the initiative to save the abandoned cryptocurrency. Now every member of the SatoxCoin community, can join the development team and help develop the project.
SatoxCoin was created as an open source project and will remain so in the future. So anyone, who wants to collaborate and work together toward a common goal, is welcome to join.
The development team keeps a developer fund, which is funded from 10% of every block found by miners, and 50% of the unused original SATO coins left over from the fork.
The other part of the unused coins, however, was subjected to the procedure of burning.
The main goal of the developer fund, is to ensure the further development and progress of the SATOX coin.
The coins will be used for promotional activities, rewards for games, based on the Play To Earn model, and sold in reasonable quantities to provide funding for upcoming listings.
In addition, the project has created a sub-team known as SATOX Guards, to expand and promote Play To Earn, and they are also in charge of submitting and voting for important proposals, and also their task, to spread the use of the SATOX coin.
The project is currently working on implementing Play2Earn on game servers like Minecraft, but an absolute consensus between Proof Of Work and Proof Of Game is the ultimate goal.
Now let's break down, what the mining mechanism is here.
So, here, for each block found, miners receive a reward of 300 SATOX, of which 10% goes to project development.
To confirm a transaction, you have to wait for the confirmation of the next 10 blocks, and the block generation time is 60 seconds.
Premine is 3 and a half billion SATOX coins, that were created to swap with the original SATO chain. Also, the total supply is 8 billion SATOX coins, and the DGW retarget algorithm, and instamine protection in the first 1000 blocks help ensure network stability, and the reduction time is 4 years.
Well, and to set up the miner, two ports are used to connect to the SATOX network, these are the p2p port and the rpc port.
So, and if you're wondering where to holding your SATOX coins, it's simple, because, on their official website, there's information about two wallets, that are specifically designed to holding this coin.
The first wallet is called SatoxCoin Core Wallet, and this wallet is the official SatoxCoin wallet, and it supports all the features, necessary to work with SATOX coins.
This wallet is also one of the most popular and reliable wallets for holding and managing coins SATOX, and you can download it to your device only from the official website of the project SatoxCoin.
And another thing I can add about this wallet, it is the socalled cold wallet, which means that it is completely safe, because all data to enter the wallet will only be with you.
And the second wallet, is the Beehive Wallet. It is a multi currency wallet, that supports not only SATOX coins, but also many other cryptocurrencies. Beehive Wallet has a simple and intuitive interface, that makes it easy to manage your assets. Also, this wallet has many security features, including key encryption and two factor authentication. And you can download this wallet o your mobile device or you can use the web version.
Both of these wallets, provide secure storage for your SATOX coins, and have features for exchanging tokens and managing your portfolio.
Well, your choice of wallet, depends on your preferences and needs, but remember, that security should always be your priority, when storing cryptocurrency.
So, now for the core team of the project.
The SatoxCoin community core team, as I said earlier, has a developer fund, which is funded by a deduction of 10% of each block, and 50% of the unused coins from the swap of the old SATO to the new SATOX coin, and the remaining 50% was burned.
And this developer fund, is used to further develop and progress the project, as well as to promote the coin, give away rewards for participating in the game, and fund the listing on new exchanges.
Also, as I said earlier, they have Satox Guards.
It is a community of volunteers, established by the Satox core team, to develop the project and protect its interests. They are testing, developing and implementing the use of the SATOX coin in Play To Earn technology. They also have the right to moderate the telegram group, discord or other social networks, as they are trusted members of the community, who are working hard for the success of the project.
The second part of their responsibilities, is to promote the concept and use of the SATOX coin, where they see it as possible and useful. Eventually Satox Guards will become the first Proof Of Game testers, as SATOX CORE developers get closer to creating it.
They are observed and organized by SATOX KNIGHTS, who are their leaders. Also, they define their tasks and missions, recruit new members, and also assign activity rewards to each of them.
And their work is funded by the core team at SATOX, and this funding comes from the developers' fund.
And while Satox Guards are provided by the SATOX core team, they are not directly controlled by them, since one of the main principles of the SATOX project, is decentralization.
This gives the unit autonomy and an independent view of its mission. The concept is to give each member of the SATOX community the opportunity, to act and do more for the common good, while being rewarded for doing so.
From the beginning, SATOX has been a community-driven project, and it will remain so in the future, so any interested Satorian member, can become a Satox Guard, if they are willing to provide proof of their integrity, and also of the high quality of their work.
Well, before I come to the end of my review, I want to tell you, that SatoxCoin can be traded on several cryptocurrency exchanges, such as p2pb2b, Txbit, on Dex Trade, and on Xeggex exchange.
At all of these exchanges, buying and selling is available, both in pairs with the stable currency USDT, and in pairs with well-known cryptocurrencies Bitcoin and Ethereum.
In conclusion, I would like to say that SatoxCoin is a project that is a combination of blockchain, mining and gaming features. It uses the Proof-of-Work algorithm and has various features, such as Staking and Play To Earn mechanisms.
SATOX is traded on several crypto exchanges, but in addition, SATOX coins can be bought from project team members or other community members. Also, the project has a pretty big gap, between the current price and the potential price, which can provide a good chance for investors. Also, I can add that SATOX coin, has many uses, and has high growth potential, so this coin can be safely considered as a possible investment.
🌍Web: https://www.satoverse.io/
👉🏻Miners: https://www.satoverse.io/mining_satox/
👉🏻Wallets: https://www.satoverse.io/wallets/
♻️Telegram: https://t.me/satoxcoin
♻️Discord: https://discord.com/invite/GFZYFuuHVq
♻️Twitter: https://twitter.com/Satoverse_io
Contacts for cooperation:
E-mail for contact: [email protected], [email protected]
Telegram: https://t.me/casperer
Discord: casperer#1374
The article was created for familiarization and is not a call for any action.
⚠️ All responsibility for the safety of your money lies solely with you.
⚠️ I am not responsible for your decisions