What Is Samoyedcoin (SAMO)?
Samoyedcoin is a meme token on Solanablockchain. At its core, SAMO is a cryptocurrency that supports a community dedicated to onboarding Solana users, educating market participants, building personal connections, and assisting one another in navigating life. SAMO's mission is to accelerate the Solana ecosystem's adoption, development, and expansion. At the same time, SAMO is on a mission to make Samoyedcoin Solana's ambassador by pushing the boundaries of what a Web 3.0 community can do. In simple terms, SAMO aims to provide market participants with the knowledge, resources, and community they need to effectively understand Solana, crypto, and life.
The platform believes that internet memes and the big-tech-owned internet (Web 2.0) have driven the development and growth of worldwide communities, which allowed people to find meaning, connection, and value in one another's ideas, beliefs, behaviors, and activities. Lately, the rise of the decentralized web (Web3) has allowed communities to assign value to a digital asset that is accessible to anybody with a smartphone and an internet connection. Solana was missing a community connecting over memes and crypto. Therefore to fill this gap SAMO was launched.
SAMO is the native token of the platform. The token is used for exclusive access to the VIP channels and events of the platform. Further, SAMO token is provably scarce, with a maximum supply of 4.75 billion SAMO. SAMO can be sent and received in 0.8 seconds, and sending SAMO costs $0.0005. SAMO uses the same energy as a Google search.
As the whitepaper states, the SAMO team recognizes that humans need social connection and community. Internet communities are more popular than ever before, and technological advancements have increased their global reach and potential impact. With the rise of online communities and the human urge for belonging, SAMO has purposefully positioned itself as a variation of a decentralized, experimental community with the rise of the user-owned Web 3.0. The SAMO community (called "The Samo Famo") is created on the notion that the best road ahead is to foster a no-shill, non-contentious, honest, free-spirited culture.
History of Samoyedcoin (SAMO)
The coin was also created in honor of Anatoly Yakovenko, cofounder of Solana, and crypto magnate Sam Bankman-Fried. The whitepaper of Samoyedcoin was released in February 2022. Apart from this, the core founding members of Samoyedcoin are:
smsl, Founding Member: smsl discovered Solana in early 2021 when numerous significant decentralized finance (DeFi) initiatives were gaining traction, and he fell in love with the environment right away. Then, with his fellow cofounders, he helped develop and launch SAMO, recognizing the need for the ecosystem to have some "fun."
Hot Onion, Founding Member: In early 2021, Hot Onion was first introduced to blockchains and Solana. After seeing firsthand the inefficiencies of Ethereum, he fell in love with Solana right away. Before crypto, Hot Onion worked in IT and, in his leisure time, was an independent game developer/modder.
How Are New SAMO Coins Created?
As Samoyedcoin is based on the Solana blockchain, Samoyedcoin's functionalities are in accordance with Solana. Solana uses a hybrid consensus technique that combines proof of stake with proof of history (PoH). PoH ensures that a blockchain is fast while maintaining decentralized security.
In proof of history, messages are chained together in the Solana data structure. This gives cryptographic evidence of each message's relative order and time in the historical record. As the data structure is ultimately delivered and reassembled, the network can ignore local clocks and gradually accommodate all potential network delays. As a result, Solana is able to push the boundaries of confirmation times.
