What Is Suterusu (SUTER)?
SUTER is the native token of Suterusu, which is a privacy protocol that enables users to transform from a pseudonymous way of transacting on the blockchain to a completely anonymous way. Check out the Suterusu price chart to see the live SUTER price. The Suterusu crypto project aims to achieve complete anonimity by eliminating the need of going through KYC, as it employs a modified version of the zk-SNARK technology called ZK-ConSNARK.
ZK-ConSNARK does not require a trusted setup, which makes it safe and transparent. Besides, compared to other similar methods, the algorithm's proof size is decreased while its proof production and verification efficiency are increased.
In addition to that, Suterusu employs a technology called the Suter Shield. It ensures that user deposit and withdrawal addresses don’t match, so there is no way to trace the origin of transactions. The Suter Shield transforms the assets deposited by users into Suter-Assets. So, for example, if a user deposits ETH tokens, he/she gets Suter-ETH. By utilizing the homomorphic public-key encryption, these new assets are added to the Suter account. Suter-ETH is converted back to ETH through the process of burning.
Lastly, note that Suterusu provides its users with the Suter Virtual Machine (SuterVM), which supports Ethereum-based smart contracts.
Who Founded Suterusu?
Zhengpeng Hou is the founder and CEO of Suterusu. He has been interested in open-source technology since accidentally discovering this phenomenon in 2000.
Over time, Suterusu has been successful in acquiring a number of partners. In terms of public blockchains, it has partnered up with Neo and IOST to provide them with privacy protection. In terms of DeFi, it has partnered up with STPT and SWFT to enhance security in their payments.
Use Cases of SUTER Tokens
The SUTER token is based on the ERC-20 token standard. The following are the main use cases of Suterusu tokens:
- Governance. Holders of SUTER tokens have the right to participate in the decision-making processes considering the future development of the Suterusu crypto project.
- Payment method. SUTER coins are used to cover smart contract gas fees or any other payments that occur within the network.
- Reward. Suterusu tokens are also utilized to reward users who participate in the governance process. They are rewarded by taking a portion of gas fees.
If you’re planning to purchase Suterusu coins, make sure to check out the Suterusu price chart above. On the chart, you can find both – the current, and the previous, SUTER price.
Tokenomics of SUTER
Suterusu coins have a total supply of 10 billion. The core Suterusu team received 4.8% of the total supply of SUTER, while the foundation received 3.2%. The remaining 16% was given to the participants of the private sale, while 76% was set aside for future mining.
