Launched in December 2017, SonoCoin is revolutionizing the blockchain landscape by integrating innovative sound wave technology with a traditional proof-of-stake protocol. This groundbreaking approach allows for seamless blockchain transactions through audible sound waves, making SonoCoin the first cryptocurrency of its kind. By supporting a decentralized network, wallet client, token issuance, and dApp development, SonoCoin aims for mass adoption by ensuring scalability and sustainability within its ecosystem. Whether you're a tech-savvy developer or a cryptocurrency novice, SonoCoin offers a user-friendly platform designed to simplify blockchain interactions without compromising on security or efficiency. Dive into the world of SonoCoin and discover how it's setting new standards in digital currency transactions.
What is SonoCoin?
SonoCoin is a decentralized network designed for the mass adoption of blockchain technology. Its purpose is to provide the groundwork for a scalable and sustainable enterprise blockchain ecosystem. Launched in December 2017, it runs on a native proof-of-stake protocol. It combines smart contract technology with breakthrough data-over-sound capabilities. The decentralized network supports a wallet client, token issuance, dApp development, and the staking of SonoCoins.
Token Market Data
Coin Statistics:
- Current Price: $0.0023
- Market Cap: $0.00
- 24h Price Change: 0.00%
- 7d Price Change: -0.09%
- 30d Price Change: 9.42%
- 24h High: $0.0023
- 24h Low: $0.0023
- All-Time High: $0.2024 (2020-06-09T00:26:04.000Z)
- All-Time Low: $0.0007 (2023-04-21T19:07:00.000Z)
- Circulating Supply: 0.00
- Total Supply: 127,957,897.00
Purpose and Utility of SonoCoin
Simplifying Blockchain Transactions
The SonoCoin crypto token is designed to simplify blockchain-based transactions and enable anyone to use common methods of delivery such as messengers, social media networks, emails, etc. It aims to solve the problem of complexity and inaccessibility in blockchain transactions by providing a user-friendly and versatile solution.
Unique Data-Over-Sound Technology
SonoCoin's unique feature is its ability to be transferred through audible sound waves, making it the first cryptocurrency of its kind. This allows for convenient and secure peer-to-peer transfers, as users can re-issue coins, divide them into smaller coins, or combine them into larger ones with arbitrary denominations using the SonoCoin mobile app.
Decentralized and Stable Network
The SonoCoin network is decentralized and stable, with a large number of nodes running over a mathematical algorithm. It offers a straightforward and fee-free approach to personalized tokens in smart contract coding, making it accessible to both tech-savvy users and cryptocurrency novices.
Coloured Coin Feature
SonoCoin's coloured coin feature allows corporations to essentially white-label the coins to be redeemable for its products or services, providing an ideal solution for the distribution of coins to be used as loyalty points. This can significantly cut loyalty program operating costs by no longer relying on third-party services.
Gift Card Industry Application
In the gift card industry, SonoCoin's coloured coins provide corporate currencies the versatile characteristics of being highly-transferrable, without the need for traditional cards and inherently preventing double-spending and fraud. This can help address the challenges faced by the gift card industry, such as double-spending, fraud, and damages.
Alternative Payment Method for Merchants
SonoCoin also looks to offer merchants an alternative method of payment based on blockchain technology to reduce processing fees. A blockchain mobile credit card would be white-labelled to a company for them to be issued to clients.
Tokenomics and Distribution Model
Total Token Supply
The total token supply of SonoCoin is limited to 100 million. This limited supply can mean token scarcity in the crypto market, which can be a strong driver for the token's demand and price.
Circulating Supply
The circulating supply of SonoCoin is the number of tokens openly circulating in the crypto market, which is usually lower than the total supply because some tokens can be locked or stored by owners. The higher the percentage of total supply in circulation, the better for the project because the token's market capitalization is higher, and its value in the crypto world is greater.
Distribution Model
The tokenomics and distribution model of the SonoCoin crypto token involve the allocation and disbursement of tokens among various participants and stakeholders in the SonoCoin project. The token distribution models include Initial Coin Offerings (ICOs), airdrops, and mining rewards, with each method having unique rules and objectives tailored to the project's goals.
Allocation
- Reserve: 20% of the tokens are allocated to the reserve.
- Investors: 25% of the tokens are allocated to investors.
- Commercial Partnerships: 55% of the tokens are allocated to commercial partnerships.
This distribution model is designed to ensure that the SonoCoin blockchain platform can be developed and maintained by a wide range of stakeholders, including the team, investors, and commercial partners. The reserve of 20% ensures that there is a buffer of tokens available for future use, while the large allocation to commercial partnerships (55%) indicates that the SonoCoin team is focused on building partnerships with other companies to further develop its underlying technology and increase demand for the token.
Token Sale
The SonoCoin token sale took place from August 1, 2019, to September 29, 2019, with tokens sold at a price of $1.06 per SONO. The token sale did not have a softcap or hardcap, and there was no personal cap for investors.
Proof-of-Stake Consensus
SonoCoin is built on a proof-of-stake (PoS) consensus algorithm, which means that all coins are created in the beginning and there is no inflation in the ecosystem. The total supply of SonoCoin is limited to 100 million, the same amount adapted by NEO (formerly known as Antshares).
Team Behind SonoCoin
Experienced Team
The SonoCoin crypto token is developed by a core team with an average tenure of 4 years in the crypto space, providing a good mix of web3 and web2 experience needed for success. The team members are not explicitly named in the provided sources, but their qualifications and expertise are highlighted.
Blockchain and Software Services Expertise
The team is experienced in the blockchain and software services industries, with a focus on creating a scalable and sustainable enterprise blockchain ecosystem. They have developed a native proof-of-stake protocol for SonoCoin, which combines smart contract technology with breakthrough data-over-sound capabilities.
Decentralized Network Development
The team has also created a decentralized network that supports a wallet client, token issuance, dApp development, and staking of SonoCoins. They have also introduced cross-chain technology for seamless value and information transmission between the SonoCoin and Ethereum blockchains.
User Experience Focus
The team's expertise in blockchain technology is further demonstrated by their commitment to user experience, as they have developed an in-browser online integrated development environment and a set
