Sphinks Token
Last Update
Nov 1, 2019
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1 SKFT=0.1 USD
About Sphinks Token
Sphinks Token is a decentralized stablecoin project with no reliance on traditional systems and trusted third-parties. It initially pegs to the USD, though has the capability to transition to a new form of a stable system that has no susceptibility to hyper-inflation or reliance on underlying commodities.
Features
The project focuses on harnessing open and decentralized technologies to provide user-friendly monetary systems with next-gen features. It aims to provide high-throughput for global merchant and consumer adoption, fee-less and near-instant transactions, private accounts and transactions, smart contracts and zero reliance on traditional systems and trusted third-parties.
Technical Info
The initial stage of the project provides basic functionality and has much to develop, most notably the implementation of a standalone system (V1.0), though the developer is dedicated to implementing this as soon as practically possible taking quality, security, and ease of use into high regard. The standalone version is expected to possess at least the following features: Integration of interoperability technologies such as the lightning network, greater scalability and near-instant transactions (likely via a Directed Acyclic Graph structure), Testnet along with simulations for the fiat inflation contingency, quantum computing resistance, privacy features, decentralized exchange, smart contracts (to a degree) and a modified Proof of Stake consensus algorithm referred to as Selected Proof of Stake (SPoS).
Sphinks Token Roadmap
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Whitepaper v0.5 [completed]
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Write initial version of whitepaper.
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Build website & v0.5 on NEM (Beta) [completed]
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Build website. Fork NEM NANO Wallet and modify. Implement back-end infrastructure.
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ICO [in progress]
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Launch ICO.
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Relocate to crypto-friendly nation
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Founder-CEO to secure the development/effectiveness of the project by relocating to cryptocurrency-friendly/tax-free nation.
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Hire CTO & advisers
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Hire full-time team members.
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Revamp website
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Professionally upgrade website.
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Recruit marketing
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Conduct ongoing marketing to promote awareness of the project.
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Exchange listing(s)
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Attain exchange listing(s) for the initial version.
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Build v0.5 on NEM
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Modify/add functionality and features to the initial version.
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Whitepaper v1.0
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Expand whitepaper to include all information relevant to the standalone version.
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Build v1.0 (Beta)
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Build basic standalone version on own blockchain (replaces initial version).
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Meet global regulatory requirements
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Determine/meet global regulations (community interests may be maintained once the project is relinquished to the community).
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Conduct v1.0 security audit(s)
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Conduct software code and security audit(s) on standalone version.
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Exchange listing(s)
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Attain exchange listing(s) for the standalone version.
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Build v1.0
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Modify/add functionality and features to the standalone version.
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Relinquish project to community
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Founder-CEO powers abolished (all ongoing aspects of the project to be determined by the community via the governance system).
Sphinks Token Team
Verified 50%
Attention. There is a risk that unverified members are not actually members of the team
Advisors
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Sphinks Token Interviews
Sphinks Token Last News
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