Sumcoin, also called the Sumcoin Index, is an index-based cryptocurrency. The project seeks to track the real-time value of  the top 100 coins by market cap and generates their SUM to create the value of Sumcoin. The project does this for the users who want to gain maximum exposure to the crypto market but don't want to hold different tokens. The main value proposition of the open-source project of Sumcoin is its ability to act as a stable store of value. 

To achieve price stability, machine learning, market fluctuations, and AI are used to determine the value of the SUM coin. The Sumcoin aims to become an alternative for users who want to trade in cryptocurrencies but want to hold more than one coin for simplicity.

Sumcoin (SUM) is the native tokenof the Sumcoin network. The main features of Sumcoin tokens seek to include portability and irreversibility. Apart from that, SUM tokens are divisible and fungible. Sumcoin is completely digital. In other words, it can't be physically held in the hands. Unlike stablecoins, SUM moves in value up and down with the market using algorithms.

The cryptographic blockchainof Sumcoin uses a proof-of-work algorithm to secure its network. Sumcoin minersaim to keep the Sumcoin network secure by approving transactions. Mining is an integral and important part of Sumcoin that seeks to ensure fairness while keeping the Sumcoin network stable and secure. Also, the asset is backed by the continuous computational hashing power applied by miners.

Ty Jacobsen of Crypto Cloud Inc is the founder of Sumcoin.

We update our Sumcoin to USD currency in real-time. Get the live price of Sumcoin on Coinbase.