KuCoin has listed Suterusu (SUTER) according to their announcement earlier today. To celebrate the listing, KuCoin and Suterusu will be hosting a trading competition. The competition, which runs until March 4, will see $70,000 worth of SUTER distributed to winning participants. The full details of the SUTER trading competition - that starts TOMORROW - have just been announced.
Suterusu is a micro-cap project at the moment with less than a $2M market cap... but probably for not much longer. Here's why.
What is Suterusu?
Suterusu is a new blockchain platform that utilizes a variety of innovations, including a more efficient kind of zero-knowledge proof known as ZK-ConsSNARK and a privacy-preserving virtual machine to enable other projects of all sizes to benefit from blockchain privacy. As the company says: they make ZCash level privacy available for any blockchain or application.
In a brief sense, the Suterusu platform acts as a privacy launchpad, allowing other projects to add privacy features without needing to make any changes at the protocol level. Instead, these projects can simply launch a sidechain on Suterusu and inherit confidential payments and smart contracts with little effort.
The main innovation here is Suterusu’s ZK-ConsSNARK, a type of constant size zero-knowledge proof that is used to obfuscate the core information of a transaction, including the amount sent and transaction participants. Though the hows and whys are rather technical, this essentially enables private payments and cross-chain asset swaps.
Beyond this, the system also avoids some of the issues faced by other privacy coin protocols, such as the need for a trusted setup and long proof-verification times. The SUTER token is used as gas to power private smart contracts operating on the Suterusu blockchain and is also used for voting as part of the on-chain governance system.
Small, But Moving Quickly
Although listing on KuCoin is likely to provide SUTER holders and potential investors with improved liquidity, the addition is the latest in a series of recent developments for the project.
Just two weeks ago, Suterusu partnered with IOST—a project that looks to provide the infrastructure to build an "internet of services," where users can exchange goods, services and more through third-party DApps deployed on the network.
The recently announced partnership will see Suterusu launch a privacy sidechain solution for IOST, thereby expanding the functionality of the platform, and enabling new use-cases, including private Decentralized Finance (DeFi), private smart contracts and more—all by leveraging Suterusu’s ZK-ConsSNARK protocol.
Likewise, just last week, Suterusu formed a partnership with NEO to provide privacy-preserving features to the NEO blockchain. According to the announcement, Suterusu will be developing a privacy layer for NEO, forming the basis of its DeFi infrastructure.
With a market capitalization of well under $2 million, Suterusu is still considered one of the smaller micro-cap cryptocurrencies. However, if the project keeps racking up partnerships like this, it might not stay small for much longer.
Reasons to be Bullish:
- KuCoin is a huge step for a micro-cap project like this. They are a legit exchange and great launchpad for liquidity growth and more, bigger exchange listings.
- Their community has exploded over the past month and is growing rapidly.
- The group backing this project are veterans in the crypto space.
- Legit partnerships with huge projects like NEO, IOST and more. I would expect many many more to come.
- Their technology proposition is clear: bringing a better ZCash privacy level to all blockchains.