Sumcoin is a cryptographic blockchain using scrypt proof-of-work algorithm. Sumcoin tracks all coins in real-time and its price is an aggregate or “SUM” of all top 100 coins most valuable coins by market capitalization. It is for those who want to gain maximum exposure to the crypto space but may only want to hold one coin for simplicity, which can reduce risk factors.
Sumcoin, or the “SUM” of coins means that it tracks all coins in near real-time from over 600 different data points. Sumcoin is continuously aggregating and finds what the current top 100 coins are by global market cap.
The Sumcoin blockchain is a decentralized ledger of all transactions across Sumcoin’s peer-to-peer network. An up-to-date copy of the blockchain or public ledger, which is a record of all the transactions in Sumcoin history. Each party’s copy of the ledger is updated every time a new block is found.
The unit of value that we send and receive on the Sumcoin network is also referred to as Sumcoin or Sumcoins. Sumcoin is completely digital, meaning we can’t physically hold it in our hands. It’s also portable, divisible, fungible, and irreversible.