The advantages of the project Soom. Soom Wallet Information

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While the cryptocurrency sector and the blockchain are flourishing recently, there are some details that inhibit the pace of development. Most of the drawbacks are related to the existing blockchain technology. All due to the fact that they include limited processing speed, limited application and excessive consumption of energy. To solve these problems, a Swiss platform called Soom was created, as well as its research company Soom Tech, which is located in Singapore. The platform develops a 4th generation end-to-end blockchain platform, which will be designed for individual and institutional investors who want scalability, impermeable security, and mainly practical applicability of blockchain applications.

This is a platform that should be able to meet the needs of various organizations that want to take advantage of this technology. In particular, it can help those who want to circumvent the costs associated with the development, maintenance and updates of the server part of a complex network of nodes. The new blockchain has many innovative features that help support smartphone-based projects, as well as more conventional ones. Only a few of these potential projects include payment systems, real estate, Telecommunications, banking, and supply chain management. In addition, the Blockchain 4th ecosystem will allow mining with the phone, minimizing transaction fees, increasing speed and increasing security.

The advantages of the project:

  • The most outstanding features of this new ecosystem include grouping algorithms, multiblock structure and intelligent analysis of mobile phones, allowing services to support many real-world usage scenarios. Blockchain will support projects from the financial industry, the supply chain, telecommunications and so on. In addition, this platform will also have significantly higher speeds, improved security features and affordable transaction costs.
  • SOOM has integrated two unique consensus algorithms that will facilitate mobile mining. The two known as POGS (Proof-of-Group-Stake) and POT (Proof-of-Transaction,) are aimed at providing the maximum blockchain experience to all smartphone users around the world.
  • In addition to the usual dual security system, SOOM added an extra level of security to stop the hacking of smartphones during transactions. This additional security is possible by creating the group private key, which is updated after each new block is created.

Soom Wallet Information:

The Soom wallet is still in the first phase of development and is a way to securely store Soom tokens on a desktop or mobile device in an easy to use way. As soon as the 4th blockchain works, the Soom wallet will become an all-in-one wallet that meets the needs of everyday customers. This will allow customers to pay daily expenses using the cryptocurrency they prefer. Based in South Korea, SOOMPAY is a mobile payment company that provides support to major Chinese mobile payment services, including the UnionPay QuickPass, Wechatpay, and Alipay payment system. Traders who use SOOMPAY will receive automatic transaction settlement in their local currency.

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