Looks a bit strange. They have nice animations on their site, but I am still wondering if this is scam. You need to pay to host a node?
For me, this thing seems fishy… (without further digging)
It was mentioned here as one of those decentralized cloud storage solutions.
Do I understand correctly that you have to pay monthly to host a node? For me an absolute no-go.
A SINOVATE node burns the initial deposit immediately, then over the course of 12 months returns the sum in daily received rewards, adding the interest generated by operating the node.
I mean Wtf? Of course, so you are forced to keep your node up, but i wouldn’t throw around 250$ in the coin and they get immediatley burned (aka. kept for 12 months regarding above quote).
Hmm depends on the interest rate
But it really does not look serious…
It seems that you can host your own node if you want there, there’s ‘manual installation instructions.’
However it does appear that one must still provide a steak (they offer 3 levels of staking).
Seems the staking is a mechanism in order to prevent high node churn.