Basically, Soge is a cryptocurrency that will help bring back “soge-ness” to the people. It’s fast, secure, and has multipool strategies in place to protect against certain attacks.
Also, it encourages the act of giving through its act of giving incentive system.
Soge is an open source, peer to peer, community driven cryptocurrency which accepts scrypt as proof of work.
“Soge” stands for “Sun God” and the word was created to encourage people to be awesome by rewarding awesome people.
The soge coin is based on the core bitcoin code, however it has some changes made to increase speed and efficiency.
This includes increasing the maximum number of coins that can ever be produced from 21 million to 100 billion (100,000,000,000) and increasing block rewards for early adopters.
The community behind Soge will be working hard to make this coin awesome through various promotions like contests, bounties, etc. In the end, it will make it possible for anyone to get a free handout from Soge coins.
Soge coins are an inflationary currency which means that the number of coins in existence is constantly increasing.
Every time a block is mined, a 1% part of the block reward goes to “soge” wallets and another 1% goes to early adopters (known as “soge-points”). These two percentages (1%) will increase over time with inflation.
Here are some points discussed about importance of Soge Coins-
1. Soge Coins are a deflationary currency.
As time goes by, the supply of Soge coins will decrease. This means that as people buy Soge there will be less Soge coins available for purchase.
These Soge coins continue to increase in value as they move from early adopters out into people who have not yet obtained them.
This balance is known as “soge-points”, which are an incentive for early adopters to mine the coin in its earlier stages. As more people in the cryptocurrency community begin to “mine” Soge, it will become rarer and thus rise in value.
2. Coins are an open source currency.
Soge coins are based on the Bitcoin codebase but have some significant changes made due to time constraints and efficiency of the codebase itself.
These changes include increasing the maximum number of coins that can be produced from 21 million to 100 billion (100,000,000,000) and increasing block rewards for early adopters.
3. Soge Coins are community driven.
Soge has created an incentivized system, known as Soge Points, to encourage people to interact with the coin together.
These points are purchased by early adopters for their coins, which are then awarded to people that donate or do well for the coin.
This is not unlike how stock companies reward employees for doing well in their company. The point system has its own set of rules but is well defined by Soge itself.
Also, different types of activities produce different types of points thus creating an incentive for good work.
4. Coins are a secure currency.
Soge uses a scrypt based algorithm that allows for large amounts of coins to be mined with ease and at low cost. Proof of work is the process in which the entire community collaborates to solve an otherwise difficult problem.
This problem is solved using highly advanced computer processing (mining hardware and software).
It is practically impossible to gain any coins without investing in mining equipment or obtaining them from early adopters or other reputable individuals.
Only the most powerful computers can mine Dogecoins, which makes it extremely unlikely that anyone can mine these coins on their own computer (in their basement).
5. Soge Coins encourage the act of giving.
Soge coins are created through an inflationary system. This means that the number of coins in existence are constantly increasing over time.
Every time a block is mined, 1% of the total block award goes to “soge” wallets which are then given away to people that have done good for the community as seen by Soge itself.
These points can be redeemed as cash, goods and services at their subjective value as decided by Soge itself.
An additional 1% goes to “Soge-points” which is given back to early adopters as a reward for helping the cryptocurrency movement take off and move forward. This helps create a big, open and giving community and moves it ever forward at a fast pace.
6. Coins are the future of cryptocurrency.
Soge is based on the bitcoin codebase but has made some significant changes in order to make it more efficient and faster. The goal is to bring the principles of cryptocurrency to the masses.
As time goes by, Soge coins will become increasingly rarer as more people realize their true potential. This will raise their value over time, making them more valuable than gold or silver ever could be.
