Sumokoin (スモコイン in Japanese) is a fork from Monero, one of the most respectable cryptocurrency well-known for security, privacy, untraceability and active development. Starting as an educational project, we found that it would be great to create a new coin with high level of privacy by (1) moving forward right away to Ring Confidential Transactions (RingCT), (2) setting minimum transaction mixins to 12 that would make it high resistance to blockchain analysis attacks.
Sumokoin, therefore, is a new Monero without its legacy, a truely fungible cryptocurrency among just a few ones in the market.
Sumokoin is one of a few rare cryptocurrencies with true fungibility - the feature makes digital currency act like physical cash i.e. no other people can find where the money comes from and how many have been transferred.
Sumokoin is created with high level of privacy in mind, setting Ring Confidential Transactions (RingCT) with minimum ringsize of 12(+1) to conceal sources/amounts transferred and make it high resistance to blockchain-analysis attacks
Sumokoin utilizes the power of a distributed peer-to-peer consensus network, every transaction is cryptographically secured. Individual accounts have a 26 word mnemonic seed displayed when created, which can be written down to back up the account and account files are encrypted with a passphrase to ensure they are worthless if stolen.
Supply & Emission
Total supply: 88,888,888 coins in 20 years, then 263,000 coins each year for inflation. About 10% (~8.8 million, 98% locked in escrowed wallets) was premined to reserve for future development, i.e. 80 million coins available for community mining in first 20 years.
Coin symbol: SUMO
1 Sumoshi = 0.000000001 SUMO (10-9 - the smallest coin unit)
1 Sumokun = 0.000001 SUMO (10-6)
1 Sumosan = 0.001 SUMO (10-3)
Hash algorithm: CryptoNight (Proof-Of-Work)
Block time: 240 seconds
Emission scheme: Sumokoin's block reward changes every 6-months as the following "Camel" distribution* (inspired by real-world mining production like of crude oil, coal etc. that is often slow at first, accelerated in the next few years before declined and depleted). However, the emission path of Sumokoin is generally not far apart from what of Bitcoin (view charts below).