User:Sumtoshi/sandbox

Sumcoin (Σ) is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer (p2p) sumcoin network without the need for intermediaries.

Unlike Bitcoin, each block transactions is verified in only 1.25 minutes by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Sumcoin was invented by Ty Jacobsen in 2017 and released as open-source software in 2018. Sumcoins are created as a reward for a process known as mining. Sumcoins can then be exchanged for other currencies, products, and services.