SAT Network Introduces the Decentralized SAT Coin, a Peer-to-Peer Electronic Cash
SAT Coin Community Network is a volunteer non-profit org. that seeks to restore Bitcoin creator Satoshi Nakamoto’s original aspiration of peer-to-peer e-cash
LONDON, OH, UNITED KINGDOM, November 19, 2021 — The SAT Coin Community Network is announcing the launch of the SAT Coin, a purely decentralized, open-source, peer-to-peer (P2P) electronic cash available for 24/7 use and created to make digital currency work better.
The SAT Coin Community Network, also known as the SAT Network, is a non-profit organization that is all-volunteer and decentralized. The SAT Coin will be secure, fast and easy to use on a daily basis.
An SAT Network spokesperson explained, “Due to the stunningly high price of Bitcoin, there is an extra zero in front of the decimal point of the amount, which can easily cause mathematical misunderstandings and is extremely inconvenient if it is directly used for micro payment. That’s why we need SAT as a Bitcoin token coin, which also can be called a trading version of Bitcoin. Featuring a large number supply, fast transactions and more accordance with requirements of actual transactions, SAT makes payment easier and faster, and reading easier. It also can be described as having restored Satoshi Nakamoto’s original aspiration when he created Bitcoin, namely the vision of building ‘peer-to-peer e-cash.’”
“The SAT Network is open to everyone. Regardless of where you are in the world, you are welcome to join us in building a blooming and truly digital economy,” the spokesperson said.
The SAT Coin uses the most robust and secure blockchain technology in the world, as the SHA-256 cryptographic hash algorithm and its transaction time is four times faster than Bitcoin’s blockchain generation speed.
The SAT Coin’s P2P-distributed network architecture works with different types of nodes. A complete SAT node includes route, blockchain database, miner and wallet. Each node is joined to the SAT P2P network as a route to discover nodes and keep connected. Every node participates to verify and disseminate blocks.
The SAT Network uses proof-of-work mining algorithms. SAT system miners time-plan their own resources, leverage mining optimization and have the power to execute calculations using CPU, GPU and ASIC devices. With interest and confidence in the SAT from all over the world, the SAT Network operates with decentralized nodes. This system generates a block every 2.5 minutes on average, and the first transaction in the block will produce SAT owned by the creator of the block, or the miner, which will incentivize nodes to support the entire network.
SAT Network’s business ecosystem development goals include opening online boutique stores in Europe, Japan and China to facilitate retail physical goods transactions in SAT. The network also plans to enter the tourism industry and open SAT’s first digital travel website and to enter the real estate investment industry by opening the network’s first Asian cryptocurrency property investment website.
The network also plans to develop SAT ATM machines, mobile phones, POS machines and jointly developed smart AI, laying the foundation for the complete ecosystem of SAT Network.
The SAT Coin can currently be traded in SAT/USDT trading pair in Hoo Exchange, Hotcoin Global and Coinbig exchange.