Soom Project Overview
Called Proof-of-Group-Stake, Soom Tech’s innovative consensus algorithm not only makes mobile development possible, but also opens the way to a host of efficient, secure, and practical blockchain-based smartphone applications. Soompay, an international in-store mobile payment provider, will be the first company to take advantage of Blockchain’s 4th platform, launching a comprehensive mobile payment solution in mid-2019. Although at an early stage of development, the universality and security of the 4th Blockchain platform have already attracted many other projects from different countries and industries, including financial services, real estate, telecommunications, logistics and education. Indeed, technical innovations of the platform allow SMEs, as well as larger corporations and institutions from any industry, to develop their own projects, while benefiting from the best-in-class features of the 4th Blockchain block, maximum scalability and reliable security without costs and costs of creating a blockchain from scratch.
The platform token is the native currency for the 4th generation blockchain and will be the key to accessing future services. There is a total of 1 438 000 000 coins. Of these, 430 million are distributed among the population, 400 million through airdrop and 30 million through Pre-Sale. 640 382 000 Soom coins are distributed for further development, 18 million will be spent on promotional activities, 159 618 000 will go to the reserve, and 190 million will be spent on the team and legal consultants.
In conclusion, I would like to note that smartphones are protected from possible hacking attempts by an additional level of security, which is added to the standard double security mechanism. Soom has already made significant progress and has clear plans for the future. I advise you to visit the official website of the company, as well as look through the technical documentation. And I have it all, see you soon!
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