Even though SuperNET sounds like the next superhero show coming to Netflix, it is actually a blockchain-based cryptocurrency project which aims to make a big impact. More specifically, it is a means of connecting some of the more reliable blockchain technologies in existence today. Bridging the gap between currencies and blockchains is a more than valid course of action right now.
WHAT IS SUPERNET EXACTLY?
With so many different cryptocurrencies in existence, it is pretty much impossible to combine the best of all worlds. Unless you want to use different currencies for different purposes, there is no unified solution in place right now. SuperNET wants to provide anonymity, instant transfers, and non-centralized exchange methods for various cryptocurrencies. Furthermore, it protects traders from government surveillance and hacking. With one wallet to control one’s favorite coins, SuperNET is definitely on to something.
THE TECHNICAL SIDE OF SUPERNET
The main selling point of SuperNET is its multicoin wallet which supports many of today’s cryptocurrencies. The wallet lets users enjoy these currencies’ best features through one simple and convenient user interface. There is also the non-centralized SuperNET exchange which can be used to store funds, although it remains best to use a desktop client.
This non-centralized exchange technology deserves some further explanation. The feature is known as Multigateway, and it stores currencies on a multisignature server cluster. Every server can only access one of the various keys needed for withdrawals to occur. By letting the servers form a consensus, optimal security is guaranteed. The Multigateway clusters are found all over the world, and servers are controlled by individual coins’ development teams to ensure there is no centralization. Multigateway is a clearinghouse service first and foremost, and it offers quite a few interesting features.
With its InstantDEX exchange, SuperNET also provides proper decentralized cryptocurrency trading to its users. Transfers are completed in near real-time without relying on a centralized authority. An added bonus is that SuperNET provides anonymous trading thanks to the integration of BitcoinDark. It is evident there is a lot more to SuperNET than most people know about, and we can only hope more functionality is added over time.
THE UNITY TOKEN
Even though SuperNET has its own native currency – known as UNITY – it seemingly has no current use cases other than sending and receiving money across the native blockchain. In the future, it’s hoped that UNITY will foster collaboration between various cryptocurrencies, reward innovation, and bring value to long-term SuperNET participants.
WHAT’S ON THE SUPERNET ROADMAP?
There are still plenty of things to look forward to when it comes to SuperNET. The InstantDEX platform will integrate more functionality and allow for the trading of more currencies. The Jumblr Bitcoin anonymizer will continue to attract a lot of attention, for obvious reasons. More liquidity providers will need to be found as well, as it is evident they will help the InstantDEX platform as a whole. It seems the smartchains platform, which introduces smart contract technology for every blockchain created on top of SuperNET, will also be explored further.
Source: The Merkle