Sapphire (SAPP) is a cryptocurrency that is designed as a stable means of online payment. It was issued by the platform with the same name that focuses on developing the whole ecosystem integrated into the real economy. Sapphire is fueled by Masternodes, which are special servers established by the members of the community. Masternodes’ architecture helps the blockchain to work smoothly and ensure full decentralization and stability.
The key features of the SAPP cryptocurrency are its stability, the capability to control the money supply, and real value creation. The developers have designed the coin so that it could be used for real purchases and at the same time, be compliant with the law.
The team standing behind the project criticizes the approach of many blockchain-based projects that issue cryptocurrencies for speculative purposes without providing any real value. Such assets are doomed to fail, in their opinion. Noting that even great technical ideas are useless when devoid of real business concepts, they have developed and applied a radically different approach while working over the SPP cryptocurrency. Therefore, the coin is designed to adapt to real needs while maintaining full integration in the real economy.
The aim targeted by the developers includes ease of use and speedy payment transactions with cryptocurrencies. The SAPP cryptocurrency is designed to be an integral component of the ecosystem while remaining flexible as it adjusts to the needs of its holders. The platform relies on its own exchange HELIOBANK and tries to expand the network by releasing and developing new products for the ecosystem.
Much attention is paid to the development of the community. The developers try to support their followers by rewarding the holders of the cryptocurrency in a number of ways. The key methods used include the interest on coin saved (proof-of-stake), and the compensation for the provision of hardware, i.e. Masternodes.
As stated above, Masternodes are special servers set up by the members of the community that get 90% of each block reward on Sapphire, while the remaining 10% of the reward is distributed via the PoS mechanism. Mastermodes provide steady rewards to the members of the community, while the developers can take advantage of the technology contributing to the steady work of the blockchain. The Sappcoin platform was added to the MNROI service, which is an advanced Masternode monitoring system that helps masternode holders to know their masternode coin status whenever they need it.
Sapphire Core is a platform for masternodes enabling to enjoy the masternode content in a single concentrated place. The platform is designed to reward the content creators and let users tip and vote for good masternode content, so the best content makers can get additional bonuses. SAPP coins are paid as a reward for great content. Those who run masternodes also get rewards in SAPP. Those who share their voices in the community are rewarded with native cryptocurrency as well.
The developers try their best to cater to the needs of different users. Thus, they have created different versions of wallets where users can hold SAPP. The wallets are designed for the most popular operating systems such as Windows, Linux, and Mac OS.
Masternodes that present full node servers within the network run on the basis of the proof-of-stake algorithm. The full nodes bear great importance as they are used to process and store all transactions in the network. Besides, operators of Masternodes who have more extended rights in comparison with usual nodes operators can fulfill additional tasks and get rewards for them thus increasing their revenue.
The network grows with each masternode setup which also contributes to better stabilization and decentralization of the network. Those who set up masternodes have to meet certain criteria to be able to run them such as securing a certain amount of native cryptocurrency as collateral.
Sapphire cryptocurrency (SAPP)
Sapphire is a cryptocurrency that enables online shopping without the use of fiat money. The developers of the Sappcoin platform have created a dedicated shopping area for this purpose where holders of SAPP coins can purchase goods and services using Sapphire.
Initially, 300,000 SAPP coins were premined. The cryptocurrency itself is mined with the help of the QUARK algorithm, which is based on a one-level hash function. This algorithm includes 9 levels of encryption by 6 different cryptographic algorithms. This mining method is fit for regular users as it doesn’t require much RAM space. At the same time, the block time makes up only 60 seconds which adheres to the overall network performance.
SAPP cryptocurrency can be used by the members of the community who want to get a Masternode status. As mentioned earlier, they should deposit a specified number of coins to run Masternodes. In addition to the rewards they get for the completion of the tasks, the operators are rewarded for the provision of computing power and storage space.
Sapphire is traded on Crex24, Finexbox, Graviex, Birake Network, and a few other cryptocurrency exchanges.
The developers have also forked their project to create Kyanite, which is referred to as an adult coin. Kyanite uses the same architecture but develops in a different direction. The main difference between the two assets is related to Kyanite (KYAN) optimization for the purchase of adult products and services. The main focus is made on cash games and legal erotic services. For that, the assets have different requirements concerning age verification and different approach to marketing.
Sapphire development process and partners
The core team was formed at the beginning of 2019 when the team started RnD work to create the blockchain. The testnet was launched in Q2 2019. At the same time, the blue page was released as the team started establishing partnerships with exchanges and platforms. The productive work has helped to release the platform, publish an official whitepaper, and develop the beta version of the wallet by 2020.
The platform partners with Yieldnodes that provides support to Sapphire as a market maker. In particular, they take care of stable prices and actively run SAPP masternodes in their pool. Besides, the company was also financed by HELIOBANK and SAPPSHOPPING in pre-financing of vouchers.