COIN NAME: BitSynq
COIN TICKER: SYNQ
MAX MONEY SUPPLY: 50M
INITIAL COINS IN CIRCULATION: 21M
DPOS REWARD: 5 Coin / Block (Ends on Block 100000)
POS STATIC REWARD: 0.5 Coin / Block
MIN AGE: 12HR
Nodes are coming on 30th.
Syno is going to offer cloud service, gambling service, i2P connection, and various DApps on top of Syno Platform.
Q1: I want to know what would keep the "blackhats" outta my pockets?
A1: First of all, no one can have access to your Bitsynq wallet through any of the P2P Applications. Secondly, each application is
standalone with its own Port and has its own process and connection is made only through that same application or its server.
There is no interference with your Wallet client or with other P2P apps.
Q2: What kind of security features are there in the Wallet?
A2: Like i said in my previous response, each application is standalone and has no connection or direct interference with your Bitsynq Wallet.
And if you talking about the Casino Games, please check out the "Escrownode Workflow" in OP and also the Synqtech Casino Whitepaper
download link also in OP. I think with the P2P function, you are already secure in term of downtime, hacking of the central server and risk
with close sourced applications etc ...BitSynq Wallet has its own port and Network and each p2p application has its own Port and Network
so no interference and no reliability on each other.
Q3: Can I block the p2p apps from running?
A3: Like i said previously, the p2p apps do not run right away when you launch your BitSynq Wallet. You have to click to launch them and
same as "Bitcoin Wallet", or any other altcoin wallet, when you launch one of the p2p app, your Firewall will warn you that there is a
connection to be established so yes as you can Block Bitcoin Wallet, BitSynq Wallet or any other altcoin Wallet, you can freely block any
of the p2p apps from the Wallet to establish a connection. Connection is established between the p2p app and its server nodes to form a
decentralized network for that app, the same way as Bitcoin itself and BitSynq itself. Just that the apps are launchable from BitSynq Wallet
and not running or connecting directly with BitSynq wallet.
Q4: Have you considered the consequences of connecting people through wallets?
A4: I think my 2 previous responses explain exactly the concept of BitSynq Wallet. For a short answer, there is no consequence, there
is no risk and whatsoever. It is "Freedom", freedom from a Central Point of Failure and each application operate in standalone mode.
The only way for you to well understand the concept and how things work in BitSynq, is when you get your Hands on the Wallet itself.
Q5: What makes it different than the blockchain applications that already exist now (with nodes connecting to each other)?
A5: The difference is right there - unlike other blockchain applications, BitSynq Apps have no impact on the currency blockchain itself so
no interference with BitSynq network. Also the blockchain will not grow rapidly or create a Disk Space Issue like what in ETH because the
p2p apps do not rely on the BitSynq blockchain to operate. They are standalone applications and each of them form their own decentralized
network when connection is established between peers.
Q6: How does the P2P Monetization work?
A6: The Monetization for some of the P2P apps is between the BitSynqd node and the App Server in API Connection and then Information
is transmitted through API Connection too between the App Server and the App Client. Please Checkout the "Escrownode Workflow" and the
Synqtech Casino "Whitepaper" for more details on how the Monetization works for the Casino Games.