SICash (SIC)

“SICash is a decentralized blockchain project built on Bitcoin’s UTXO model, with support for Ethereum Virtual Machine-based smart contracts, and secured by a proof of stake consensus model. It achieves this through the revolutionary Account Abstraction Layer, which allows the EVM to communicate with SICash’s Bitcoin-like UTXO blockchain.

We use a PoS (Proof of Stake) consensus mechanism, which is different from Bitcoin’s PoW (Proof of Work). The mining process in the PoS system is called staking. The block producer will get 97% or 8002.5 SIC and the transaction fees and gases as block rewards. So, the real reward is usually more than 8002.5 SIC in total.

Clearly, blockchain offers tremendous potential to reshape privacy and security and, ideally transform the global economy. The vision articulated, and the solutions described in this whitepaper represent the first steps toward demolishing barriers, driving global blockchain adoption into everyday use.”