Stages of Development
SONO combines both PoS and PoW.
Stage 1 - Proof of Work and Proof of Stake
Stage 1 of SONO will consist of a Proof of Work distribution method using the SkunkHash algorithm. The reward of each Proof of Work block is 1 SONO every 60 seconds and any additional transactions fees that should come from the transactions within the block.
Stage 1 will also consist of Proof of Stake.
The intent of Proof of Stake is to secure the network with a high amount of active nodes. It then rewards the users who keep coins in their wallets with up to 0.49% per 24 hours the coins has been in the wallet.
This means 180% in a year from Proof of Stake to start off.
This will ensure that a large amount of coins are produced in the first stage as the Proof of Work reward is set very low.
Stage 1 ended on the 20th of January 2018.
Stage 2 - Masternode Update
Stage 2 will be including the Masternode Update that was added to the project after a community vote on the official forums.
Masternodes will receive the following rewards:
Stage 2 was activated on the 27th of January 2018.
Stage 3 - Proof of Work and Proof of Stake changes
Proof of Stake will be revised in Stage 3 and will be lowered from the 180% per year or 0.49% per day to 50% per year or 0,137% per day.
The Proof of Work reward will also be raised from 1 SONO to 2 SONO per block.
The change is made to attract more miners and still make it profitable to hold and stake SONO.
Stage 3 was activated at block 240.000.
Stage 4 - Final PoS and PoW rework
The final stage consists of a total rework of our wallet.
We will move from SONO 184.108.40.206 to SONO 2.0 which means a swap will be done. SONO will be swapped at a 1:1 scale, so there will be no difference in the amount of coins you receive.
The following changes will be made from SONO 220.127.116.11 to 2.0:
• PoS becomes static and will give a reward of 1 SONO for a PoS block.
• Minimum amount of coins in an input needed for staking is raised from 5 to 50.
• Block time is reduced from 60 seconds down to 30 seconds.
• Coins mature from mining/staking after 500 confirmations.
Stage 4 was activated on the 18th of June 2018.
Stage 5 - Final PoS and PoW rework
Stage 5 is deemed to be the final stage of the development of the SONO currency for a
long time. The following changes are being implemented into the new system:
• PoS is now dynamic and set to 40% per year.
• PoW is increased from 1 SONO per block to 2 SONO per block.
• Block time is increased from 30 seconds to 60 seconds.
• Max Supply is now set at 5.000.000 SONO.
• Coin input combining system now works and combines all inputs that are lower
than 1000 coins.
Stage 5 was released on the 7th of September and activates 3 weeks later.