July 31st, 2017 – Version 1
Definition from SumoKoin Bitcoin Talk
Sumokoin (スモコイン in Japanese) is a fork from Monero, one of the most respectable cryptocurrency well-known for security, privacy, untraceabilityand 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.
Community Enthusiasm – 2.5 out of 5
- There is no Slack Auto-Invite that I could find.
- Telegram Chat has 82 members and fairly active conversation.
- Bitcointalk thread is Regularly active.
Active Development – 3.5 out of 5
- The devs are working in the background.
- There is a responsive Dev Team available to the community on Telegram & BCT.
- There is a new Roadmap specifically outlining short term goals.
Exchanges – 2 out of 5
- SUMO is relatively new… Introduced May, 2017
- SUMO has fluctuated between 7k sats and 14k sats in June & July.
Wallets – https://www.sumokoin.org/#github
- Website – https://www.sumokoin.org/
- Slack – no auto-invite – https://sumokoin.slack.com/
- Telegram – https://t.me/joinchat/F8RH2kPmFCnA-igHBKSCAA
- Bitcointalk – https://bitcointalk.org/index.php?topic=1905086.0
- Block Explorer – https://explorer.sumokoin.com/
- RoadMap – https://bitcointalk.org/index.php?topic=1905086.msg20482560#msg20482560
- Whitepaper – SumoKoin is a Fork from Monero and includes links to the XMR Whitepaper in the Bitcointalk OP link above.
- GitHub – https://github.com/sumoprojects/sumokoin
July 31, 2017 Summary
SUMO is now about three months old, and making progress as they put the basics together. The website looks good and the links all work. For now, SumoKoin seems to be fine with being a Fork from Monero and offering the same features, but without the dramatic past and the puffed up, or should I say fluffy, dev team. It is a Proof of Work coin only.
New features are being developed, such as Sumo specific wallets, and the multi-signature wallet feature. Also in the works is a feature they call a Sub-Address, which creates a temporary address for receiving funds to keep transactions from being tied to the main wallet address. It seems in the future the dev team will move away from Monero further and further as they add new features.
SumoKoin’s short term goals are ambitious, but at the moment they have four developers working on them. As they start to address some of the simple things the Monero dev team has always ignored, Monero fans will hear about what is happening with SUMO and put some BTC into it. PIVX was taken from DASH and had a similar approach addressing the things the DASH team was reluctant to look into.
At the moment, there are only about 1 million SUMO in circulation. The CoinMarketCap page show a 10 million coin Total Supply, while the Bitcointalk thread says it will be approximately 90 million. This is a big discrepancy and should be be fixed. I believe the 90 million number is correct.
I am a fan of small cap anon-coins. I think currency like SUMO, ZOI and ZER will eventually find their place. Recently, there has been a SegWit coin craze and a Masternode craze… I believe there will be an anon-coin craze eventually as well. When that happens we should see some big moves on the small cap anon-coins with active developers and an enthusiastic community. Keep an eye on SUMO.