Review on Sumcoin by Pedro O. Alvino M.
Designed with Scrypt's testing algorithm
Sumcoin, a project characterized by having a blockchain with a decentralized ledger where it is designed with characteristics similar to that of Bitcoin, has a functionality to track the first 100 currencies on the market in which its price is generated based on of an algorithm according to the corresponding price among the first 100 coins by market capitalization.
Having its own blockchain allows the mining network to have acceptable rewards while generating a layer of security to the network and processing transactions quickly, but both the availability of the currency and technical information of its architecture have not been presented on the platform.
The current situation in relation to the price of currency is in the process of deflation given the little volume and support that it offers to its holders, since its price function based on its algorithm does not generate enough confidence to invest in said asset, in addition to the information about its developers and leaders are absent from their platform, which generates more mistrust in the project.
Pros
- Designed with a scrypt testing algorithm.
- Blockchain made up of a decentralized ledger.
- Offers a network security similar to Bitcoin.
- It has an online product market with an option to return.
Cons
- It does not offer both a roadmap and a white paper.
- Very little community follows the project.
- You have errors updating the price of your currency.
- The availability of the currency is only limited to one exchange.
- No team information and little activity on their social networks.
