Sumokoin(SUMO) project was launched in May 2017 and is an open-source cryptocurrency with a vision of privacy, untraceability, decentralization and fungibility.
- Core developers: Vu Hong Quang(Founder)
- Hanoi DEV-Team: Le Tuan, Dinh Cuong, Nguyen Hoa
The team have proven their skill by delivering solid code and user friendly products on time, and in some cases even ahead of schedule. The Sumokoin project is a fork of Monero(XMR), but since Sumokoin was created after the Monero hardfork(Jan 2017) introducing RingCT, no transactions on the blockchain are traceable. By adding 12+1 mixin(Monero 4+1) the developers further improved the privacy for its users.
Due to solid development work the first version of the GUI wallet was a success and has since been improved upon, with features like Ghost addresses. The development team announced more good news in April 2018 by adding a Lite wallet option to the project. Users can now enjoy a wallet that connects to a remote node instead of syncing the whole blockchain locally. Another solid product delivered by the developers is the Easy Miner. It offers a "one click" CPU miner for users new to the crypto space.
By the end of spring 2017, there were major spikes in the network hashrate caused by botnets, Nicehashers and mining farms. Since these are destructive forces towards Sumokoins vision of decentralization, developers implemented a new difficulty algorithm. The implementation was done by a hardfork, making it the first for Sumokoin. The algorithm was a success and in turn Sumokoin gained a reputation for being decentralized and miner friendly. During first quarter of 2018 it became evident that ASIC(Application-Specific Integrated Circuit) miners was a threat to the projects vision of decentralization. As a measure for stopping these specialized miners, the team developed a new proof-of-work algorithm, named Cryptonight-heavy. The algorithm was implemented by a successful hardfork in April 2018, and will give Sumokoin a more long lasting resistance to ASIC compared to its competitors.
Since its inception Sumokoin has grown majorly in every aspect, and seen enthusiasm on social media translate into more and more people joining the project. The increased awareness also brought several skilled community developers into the project, contributing with features like WooCommerce plugin for WordPress, Vanity address generator, pool upgrades, Andriod wallet and more.