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Frequently Asked Questions

Here you can find frequently asked questions about various cryptocurrencies.

Who Are the Founders of SingularityNET?

SingularityNET has an extensive team largely of AI scientists, developers, researchers and engineers. It was founded by Dr. Ben Goertzel (SingularityNET's CEO and chief scientist) in addition to Simone Giacomelli and Dr. David Hanson. Dr. Ben Goertzel is an established figure in the AI and robotics industry and has a long distinguished track record of working with advanced technology companies — including Hanson Robotics and the OpenCog Foundation. He also works as Mozi Health's chief scientist and vice chairman for Humanity+. Simone Giacomelli is an entrepreneur and investor that previously worked for crypto consultancy Cryptodex. He left the SingularityNET project in March 2019 and is now focused on the technology R&D lab Vulpem, which he founded in 2015. Dr. David Hanson is SingularityNET's third co-founder. He has a long and varied history in the robotics industry, working with Disney between 1998 and 2001 before founding several robotics startups — including Human Emulation Robotics, Initiative for Awakening Machines and Hanson Robotics over the last two decades.

What Is SingularityNET (AGIX)?

SingularityNET is a [blockchain-powered](https://coinmarketcap.com/alexandria/glossary/blockchain) platform that allows anybody to easily "create, share, and monetize" AI services, thanks to its globally-accessible AI marketplace. Through the SingularityNET marketplace, users can browse, test and purchase a huge variety of AI services using the platform’s native utility token — AGIX. Moreover, the marketplace represents an outlet AI developers can use to publish and sell their AI tools, and easily track their performance. With the benefits of LLMs and generative AI are increasingly exciting, their limitations are also becoming increasingly apparent. The convergence of structured knowledge with neural networks is emerging as the key to overcoming their shortcomings. Uniquely positioned at the heart of this convergence, SingularityNET will prioritize the integration of Knowledge Graphs (KGs) and comprehensive Neural Symbolic tools for LLMs, with the goal of empowering developers to create the next generation of AI systems on the SingularityNET Platform. SingularityNET is strategically positioned to become the Knowledge Layer of the Internet, leading the evolution of the emerging AI landscape while also laying the foundations for the Artificial General Intelligence (AGI) of tomorrow. The team behind SingularityNET pioneered the development of an AI known as Sophia, which is described as the "world's most expressive robot". SingularityNET’s goal is to enable Sophia to be able to fully understand human language, and continue developing “OpenCog” — an AI framework that is hoped to eventually achieve a state known as “advanced general intelligence,” i.e. human-level artificial intelligence (or beyond). The platform was first announced in 2017 and completed an initial coin offering ([ICO](https://coinmarketcap.com/alexandria/glossary/initial-coin-offering-ico)) in December the same year, raising $36 million in just one minute.

As one of the industry's most advanced swap aggregation engines, Jupiter excels in delivering essential liquidity infrastructure for the Solana ecosystem. Moreover, Jupiter is actively expanding its DeFi product offerings, featuring a comprehensive suite that includes Limit Order, DCA/TWAP, Bridge Comparator, and Perpetuals Trading.

Where Can You Buy Quant (QNT)?

Quant tokens can be purchased, sold, and traded on several exchanges, including; [Bilaxy](https://coinmarketcap.com/exchanges/bilaxy/) [Bittrex](https://coinmarketcap.com/exchanges/bittrex/) [Bithumb Global](https://coinmarketcap.com/exchanges/bithumb-global/) [1inch Exchange](https://coinmarketcap.com/exchanges/1inch-exchange/) [Uniswap (V2)](https://coinmarketcap.com/exchanges/uniswap-v2/), and [Hotbit](https://coinmarketcap.com/exchanges/hotbit/). QNT can be traded against[ cryptocurrencies](https://coinmarketcap.com/alexandria/article/what-are-cryptocurrencies) such as[ Bitcoin](https://coinmarketcap.com/currencies/bitcoin) (BTC) and[ Ether](https://coinmarketcap.com/currencies/ethereum) (ETH),[ stablecoins](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) such as[ Tether](https://coinmarketcap.com/currencies/tether) (USDT), and fiat currencies such as the euro. Check out the real-time price of QNT live by downloading the [CMC mobile app](https://coinmarketcap.com/mobile/).

How Is Quant Secured?

Overledger forms the backbone of the Quant Network. Overledger ensures communicability among DLT networks and interacts with different blockchains. The Overledger Network includes gateways for linking different blockchains. Similar to Ethereum’s proof-of-stake blockchains, the Quant Network community is involved in handling treasury smart contracts. The community handles QNT payments flowing from users to the gateways. They do this in a manner where people are held accountable to any observer.

How Many Quant (QNT) Tokens Are There in Circulation?

QNT is a utility token. It is a method of payment for Quant services, particularly as a means for Overledger users to pay their fees. Every client and developer must buy a licence and can use QNT to pay for transactions. This requires tokens to be locked up for 12 months. The cost of running the Gateways and performing read/write operations on Overledger requires the use of the QNT tokens. The max supply of QNT tokens is set at 14,612,493 tokens. The QNT tokens were split in the following way: * 9.9 million QNT tokens were sold to the public during the ICO; * 2.6 million QNT tokens were assigned to the company reserve, to keep the project running; * 1.3 million QNT tokens were reserved for the company founders; * 651,000 QNT tokens were issued to the company advisors. Currently, the circulating supply of the token is 12,072,738 QNT. The extra 2 million tokens are held by the company. These tokens are unlocked and could be sold or issued at any time.

What Makes Quant Unique?

Since the introduction of blockchain and the distributed ledger technology, innovators have found use cases in almost every known industry. However, there has been the problem of seamless interoperability between these projects. Quant was created to be the missing link between the “different” blockchains. Quant’s operating system, Overledger, was designed to act as a gateway for any blockchain-based project to access all other blockchains. It also works in connecting an application to other applications in the same blockchain ecosystem, like Ethereum. More than multiple blockchain interactions, Quant creates different layers for apps to interact at different levels. Quant has different layers for transactions, messaging, filtering and ordering, and an application for sharing and referencing identical messages related to other applications. The Quant App Store has the ability to read and monitor transactions across multiple ledgers. Using Overledger, developers write smart contracts across a wide variety of chains including those that don’t support them — such as Bitcoin. Developers can also use the store to create and release multi-chain applications (MApps).

Who Are the Founders of Quant?

Gilbert Verdian, one of the founders of the Quant network, had the idea for the blockchain project while he was working in the healthcare sector. Verdian identified the importance of interoperability in ensuring that patients registered on different platforms are covered. Verdian has over 20 years of industry experience in upgrading the security, technology and business strategies of businesses around the globe in order to achieve tangible results. Prior to the Quant Network, Verdian served as the chief information security officer (CISO) of Vocalink, a Mastercard card company, the chief information officer of NSW Ambulance, the CISO of eHealth NSW, and the security lead of the Ministry of Justice, UK. The second co-founder, Dr Paolo Tasca, is an entrepreneur, digital economist who specializes in distributed systems. Dr. Tasca has served as the special advisor on blockchain technologies for the EU Parliament, the United Nations and numerous central banks worldwide. He is also co-author of several books on fintech and is the co-founder and governing board chair of Retail Blockchain Consortium.

What Is Quant (QNT)?

Quant launched in June 2018 with the goal of connecting blockchains and networks on a global scale, without reducing the efficiency and interoperability of the network. It is the first project to solve the interoperability problem through the creation of the first blockchain operating system. To learn more about this project, check out our deep dive of [Quant](https://coinmarketcap.com/alexandria/article/what-is-quant). The project is built as an operating system distributed ledger technology— and Overledger Network — for connecting different blockchain networks. The project is billed as the first OS to be built for blockchains. The main aim of Quant — using Overledger — is to bridge the gap that exists between different blockchains. The backbone of the project is the Overledger network, which Quant bills as the ecosystem on which the future digital economy ecosystem will be built. Overledger allows developers to build decentralized multi-chain applications (known as MApps) for their customers. For developers to build a Mapp on the network, they must hold a certain amount of Quant tokens (QNT).

Where Can You Buy MultiversX (EGLD)?

EGLD can be purchased on [cryptocurrency](https://coinmarketcap.com/alexandria/article/what-are-cryptocurrencies) exchanges such as [Binance](https://coinmarketcap.com/exchanges/binance/), [OKEx](https://coinmarketcap.com/exchanges/okex/), [Bitfinex](https://coinmarketcap.com/exchanges/bitfinex/) and [BitMax](https://coinmarketcap.com/exchanges/bitmax/). It can be traded against fiat currencies such as the U.S. dollar and Indonesian rupiah, cryptocurrencies such as [Bitcoin](https://coinmarketcap.com/currencies/bitcoin) (BTC) and [Binance Coin](https://coinmarketcap.com/currencies/binance-coin) (BNB), and [stablecoins](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) such as [Tether](https://coinmarketcap.com/currencies/tether/) (USDT) and [Binance USD](https://coinmarketcap.com/currencies/binance-usd) (BUSD). It can be bought and sold on both spot and derivatives markets. Are you interested in buying EGLD or other cryptocurrencies such as [Bitcoin](https://coinmarketcap.com/currencies/bitcoin)? CoinMarketCap has a simple, [step-by-step guide](https://coinmarketcap.com/how-to-buy-bitcoin/) to teach you all about crypto and how to buy your first coins.

How Is MultiversX Secured?

MultiversX uses what it calls a secure [proof-of-stake](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) [consensus](https://coinmarketcap.com/alexandria/glossary/consensus) algorithm in which nodes must stake their EGLD tokens to participate in the validation process, and each validator is assigned a rating score based on past activity, which also influences whether or not they are selected. If a validator's rating becomes too low, it will not be selected and must pay fines. Validators can also be removed from the network and have their stakes slashed if they continuously act in a manner that is against the integrity of the network. Validators are randomly selected in a way that can be neither predicted nor modified based on the previous round of validations. In addition, validators are periodically shuffled between shards as a way to prevent collusion. Nodes communicate among one another using modified Boneh-Lynn-Shacham, or BLS, multi-signatures for strong cryptographic protection.

How Many MultiversX (EGLD) Coins Are There in Circulation?

The MultiversX economic model has a limited supply that starts at 20,000,000 EGLD, with new tokens minted to reward network validators. The maximum supply can never exceed 31,415,926 EGLD, but this number will decrease as more transactions are processed. MultiversX's native token was first made available for purchase through a private sale, in which 19% of its initial supply was sold, with 7.5% made available immediately upon token generation and another 15.41% released every three months. MultiversX also held an [initial exchange offering](https://coinmarketcap.com/alexandria/glossary/initial-exchange-offering) on Binance, in which 25% was [sold](https://www.binance.com/en/support/articles/360029716271-Introducing-the-Elrond-ERD-Token-Sale-on-Binance-Launchpad) and made available immediately. Of the remaining 56%, 7% was reserved for ecosystem rewards, with 50% released immediately and 50% after six months; 8.5% for marketing, grants and an accelerator pool for DApp developers, with 81.17% released immediately and 9.41% every six months; 2% for a community fund, with 33.3% released immediately, 33.3% after six months and 33.3% after 12 months; 2.5% for advisors, released after one year; 19% for MultiversX's founders and core team members, with 10% released after six months, 10% after 12 months, 15% after 18, 24, 30 and 36, and 20% after 42 months; and 17% for the company for ecosystem support, with 33.3% that can only be used for staking during the first year released immediately and 66.6% released in three equal installments over three years, starting after one year. MultiversX's tokens were first issued on Binance Chain under the name ERD with a total supply of 20 billion. 500 million were burned in November 2019 and minted on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) blockchain as [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) tokens, and the company [launched](https://elrond.com/blog/elrond-token-swap-bridge/) a token swap event in September 2020 for token holders to swap their ERC-20 and BEP-2 tokens for mainnet EGLD tokens. During the process, the total token supply was reduced from 20 billion to 20 million by setting the swap ratio at 1,000 ERD for 1 EGLD.

How Does MultiversX Work?

According to the MultiversX crypto team, the project implements three types of segmentation: state, transactions, and network, using the parallel processing method to speed up the time and increase the number of transactions. MultiversX is a comprehensive software that uses Adaptive State Sharding to scale while sharing infrastructure to support a growing number of applications/transactions on the ledger. A variation of the traditional [PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos) operational protocol guarantees the connection to the platform of all sections of the network, separated during sharding. Hence, the integrated environment is involved in the development of dApps, which are imitations of products and services. MultiversX developers combined three sharding methods to create their own unique adaptive one. They divide the network into four shards: three shards are execution shards that process transactions, validating 5400 transactions per second, and Metachain is the fourth shard that coordinates and completes transactions. Sharding types include: State sharding where the history of the network, or state, is distributed across different sections of the network, or shards. Segments have their own ledger, nodes store the state of each segment; Transaction sharding where transactions are mapped to segments and processed, segments process transactions in parallel and nodes capture the state of the entire network; Network sharding where the nodes are grouped into segments and then processed. Network slicing contributes to optimizing communications.

What Makes MultiversX Unique?

MultiversX describes itself as a blockchain platform for the new internet economy, [decentralized applications](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps) and enterprise use. Its main selling point is its high scalability, stating that it is the first blockchain network in which state, network and transaction sharding have all been implemented. According to its economics paper, it seeks to build up its ecosystem and establish EGLD as a store-of-value asset. To achieve this goal, the network runs on 3,200 validator nodes split into four shards: three execution shards, capable of 5,400 transactions per second each, and one coordination shard, the "Metachain." MultiversX's adaptive state sharding architecture completely shards state, transactions and network. It can scale by adding an additional shard when the throughput demand is unmet. It was tested to run 263,000 TPS in a public environment with 1,500 nodes from 29 countries grouped in 50 shards. In order to increase adoption, the project also supports developers building on the platform, allowing them to earn 30% of the smart contract fees as royalties. The company maintains a supply of EGLD tokens to stake on the network during its first year, with validator nodes receiving a 36% annual percentage rate.

Who Are the Founders of MultiversX?

MultiversX was co-founded in late 2017 by brothers Beniamin and Lucian Mincu alongside Lucian Todea as a solution to the problem of blockchain scalability, which they thought to be the most pressing problem facing the industry. Prior to MultiversX, Beniamin and Lucian Mincu co-founded MetaChain Capital, a digital asset investment fund, with Beniamin Mincu serving as CEO and Lucian Mincu as chief technology officer. The two also co-founded ICO Market Data, an aggregator of information around [initial coin offerings](https://coinmarketcap.com/alexandria/glossary/initial-coin-offering-ico). Beniamin Mincu was also responsible for product, marketing and community for blockchain platform [NEM](https://coinmarketcap.com/currencies/nem/) from 2014 to 2015, in addition to being an early investor in projects such as [Zilliqa](https://coinmarketcap.com/currencies/zilliqa/) (ZIL), [Tezos](https://coinmarketcap.com/currencies/tezos/) (XTZ), Brave and [Binance](https://coinmarketcap.com/exchanges/binance). Lucian Mincu has additional experience as an information technology engineer and security specialist, having worked with Uhrenwerk 24, Cetto and Liebl Systems. Lucian Todea is a serial tech entrepreneur who previously founded and served as CEO of Soft32, a software review and download site, and a partner of mobilPay, a mobile payments application. He is also an angel investor, having invested in biometrics tech company TypingDNA and accounting platform SmartBill.

What Is MultiversX (EGLD)?

MultiversX is a [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain) protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, [decentralized finance](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance) and the Internet of Things. Its [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract) execution platform is reportedly capable of 15,000 transactions per second, six-second latency and a $0.001 transaction cost. MultiversX rewards the community and active participants with EGLD tokens. EGLD, or Electronic Gold, is MultiversX's native token. It acts as a store of value currency to pay for network usage. The coin also serves as a medium of exchange between platform users and validators. Users pay transaction fees in EGLD and validators provide services. EGLD allows developers to deploy smart contracts, protocols, and dApps on the platform. It empowers participants to perform any network action. Through [staking](https://coinmarketcap.com/alexandria/glossary/staking) and validation rewards, as well as transaction fees, EGLD manages the MultiversX network. Plus, EGLD is endowed with the functionality of a governance token, so its holders can vote on network decisions. MultiversX was first announced in August 2019, and its mainnet went live in July 2020.

What is the Allocation for DYDX?

DYDX is distributed to users by validators on the dYdX Chain on a 1-1 proportional basis based on the amount of Ethereum-based DYDX (ethDYDX) that each user sends to the [wethDYDX Smart Contract](https://etherscan.io/address/0x46b2deae6eff3011008ea27ea36b7c27255ddfa9). The allocation of DYDX is based on the allocation of ethDYDX. The allocation of ethDYDX changed since its launch on August 3, 2021 due to several governance proposals. The updated allocation of ethDYDX: * 27.7% is allocated to Investors * 15.3% is allocated to Employees and Consultants of dYdX Trading or Foundation * 7.0% is allocated to Future Employees & Consultants of dYdX * 14.5% is allocated to User Trading Rewards * 5.0% is allocated to Retroactive Rewards * 3.3% is allocated to Liquidity Provider Rewards * 26.1% is allocated to Community Treasury * 0.6% is allocated to Liquidity Staking Pool * 0.5% is allocated to Safety Staking Pool Source: [dYdX Documentation](https://docs.dydx.community/dydx-governance/start-here/dydx-allocations)

What Is dYdX Chain DYDX ?

The dYdX Chain is a proof-of-stake blockchain network built using the Cosmos SDK and leveraging CometBFT for consensus. The DYDX token is the L1 protocol token for the dYdX Chain, as agreed by the dYdX community through dYdX governance ([Snapshot vote](https://snapshot.org/#/dydxgov.eth/proposal/0x17026e18317dc29fe745d3130246a83b1485612da9c97e7261e8f659cf33663c) and an [on-chain vote](https://dydx.community/dashboard/proposal/15)) Holders of the DYDX token can use their tokens to run a Validator or stake their tokens to a Validator in order to participate in securing and governing the dYdX Chain network.

StarkNet is a permissionless decentralized Validity-Rollup (also known as a “ZK-Rollup”). It operates as an L2 network over Ethereum, enabling any dApp to achieve unlimited scale for its computation – without compromising Ethereum’s composability and security, thanks to StarkNet’s reliance on the safest and most scalable cryptographic proof system – STARK. StarkNet Contracts and the StarkNet OS are written in Cairo – supporting the deployment and scaling of any use case, whatever the business logic.

Where Can You Buy Synthetix (SNX)?

SNX tokens can be purchased at top exchanges, such as: * [Binance](https://coinmarketcap.com/exchanges/binance/) * [OKEx](https://coinmarketcap.com/exchanges/okex/) * [Coinbase Pro](https://coinmarketcap.com/exchanges/coinbase-pro/) * [Uniswap (V2)](https://coinmarketcap.com/exchanges/uniswap-v2/) If you are interested in learning more about how to buy Bitcoin, read CoinMarketCap’s full guide [here](https://coinmarketcap.com/how-to-buy-bitcoin/).

How Is the Synthetix Network Secured?

The SNX token is compatible with Ethereum’s [ERC20](https://coinmarketcap.com/alexandria/glossary/erc-20) standard. The Synthetix network is secured through proof-of-stake ([PoS](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake)) consensus. Synthetix holders [stake](https://coinmarketcap.com/alexandria/article/what-is-staking) their SNX and earn returns from the network fees. Another way for SNX stakers to earn rewards is via the protocol’s inflationary monetary policy, known as staking rewards.

How Many Synthetix (SNX) Coins Are There in Circulation?

The maximum supply of SNX is 212,424,133 coins, of which 114,841,533 SNX is in circulation as of February 2021. At the seed round and token sale stages, Synthetix sold more than 60 million tokens and was able to raise $30 million. Of the total 100,000,000 coins issued during the ICO, 20% was allocated to the team and advisors, 3% to bounties and marketing incentives, 5% to partnership incentives and 12% to the foundation.

What Makes Synthetix Unique?

Synthetix is a decentralized exchange ([DEX](https://coinmarketcap.com/alexandria/article/what-are-decentralized-exchanges-dex)) and a platform for synthetic assets. The protocol is designed in a way that exposes users to the underlying assets via synths, without having to hold the underlying asset. The platform allows users to autonomously trade and exchange synths. It also has a staking pool where holders can stake their SNX tokens and are rewarded with a share of the transaction fees on the Synthetix Exchange. The platform tracks the underlying assets using smart contract price delivery protocols called oracles. Synthetix allows users to trade synths seamlessly, without liquidity/slippage issues. It also eliminates the need for [third-party](https://coinmarketcap.com/alexandria/article/what-is-a-dao) facilitators. SNX tokens are used as collateral for the synthetic assets that are minted. This means that whenever synths are issued, SNX tokens are locked up in a smart contract. Since launch, the protocol has transitioned to the Optimistic Ethereum mainnet to help reduce the gas fees on the network and lower oracle latency.

Who Are the Founders of Synthetix?

The network was launched in September 2017 by Kain Warwick under the name Havven (HAV). About a year later the company rebranded to Synthetix. Kain Warwick is the founder of Synthetix and a non-executive director at the blueshyft retail network. Prior to founding Synthetix, Warwick has worked on several other cryptocurrency projects. He also founded Pouncer, a live auction site exclusive to Australia. Peter McKean, the project’s CEO, has over two decades of experience in software development. He previously worked as a programmer at ICL Fujitsu. Jordan Momtazi, the COO of Synthetix, is a business strategist, market analyst and sales leader with several years of experience in blockchain, cryptocurrency, digital payments and e-commerce systems. Justin J. Moses, the CTO, was the former director of engineering at MongoDB and deputy practice head of engineering at Lab49. He also co-founded Pouncer.

What Is Synthetix (SNX)?

Synthetix is building a decentralized liquidity provisioning protocol that any protocol can tap into for various purposes. Its deep liquidity and low fees serve as a backend for many exciting protocols on both [Optimism](https://coinmarketcap.com/currencies/optimism-ethereum/) and [Ethereum](https://coinmarketcap.com/currencies/ethereum/). Many user-facing protocols in the Synthetix ecosystem, such as [Kwenta](https://coinmarketcap.com/currencies/kwenta/) (Spot and Futures), [Lyra](https://coinmarketcap.com/currencies/lyra-finance/) (Options), Polynomial (Automated Options), and [1inch](https://coinmarketcap.com/currencies/1inch/) & [Curve](https://coinmarketcap.com/currencies/curve-dao-token/) (Atomic Swaps), tap into Synthetix liquidity to power their protocols. Synthetix is built on Optimism and Ethereum mainnet. The Synthetix Network is collateralized by SNX, ETH, and [LUSD](https://coinmarketcap.com/currencies/liquity-usd/), enabling the issuance of synthetic assets (Synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset. This pooled collateral enables an array of on-chain, composable financial instruments backed by liquidity from Synthetix. Some of the most exciting upcoming releases from SNX are Perps V2, which hopes to enable low-fee on-chain futures trading through the usage of off-chain oracles, and Synthetix V3, which aims to rebuild the protocol to achieve its earliest goal, being a fully permissionless derivatives protocol. Learn more about Synthetix on their blog or by joining the SNX Discord. The platform aims to broaden the cryptocurrency space by introducing non-blockchain assets, providing access to a more robust financial market.

Where Can You Buy The Sandbox (SAND)?

The Sandbox is enjoying a rise in interest from both investors and users, and more exchanges have started offering trades with the SAND token. [Binance](https://coinmarketcap.com/exchanges/binance/) has the largest trading volume of SAND/BUSD, with $7,015,941 processed in transactions so far as of March 2021. Other options for buying SAND include [Uniswap (V2)](https://coinmarketcap.com/exchanges/uniswap-v2/), [Gate.io](https://coinmarketcap.com/exchanges/gate-io/), and [LATOKEN](https://coinmarketcap.com/exchanges/latoken/). [Find more information](https://coinmarketcap.com/how-to-buy-bitcoin/) about buying cryptos.

How Is The Sandbox Network Secured?

As the Sandbox virtual world is built on top of the Ethereum blockchain, it is secured by the proof-of-stake ([PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos)) consensus mechanism. The SAND token is a standard version [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token, which means owners can stake it and benefit from staking rewards. Unlike the proof-of-work ([PoW](https://coinmarketcap.com/alexandria/glossary/proof-of-work-pow)) consensus mechanism employed by the Bitcoin blockchain, PoS does not require vast amounts of electrical or computing power to validate transactions. It relies on stakeholders with the largest holdings in SAND tokens. The PoS consensus mechanism allows for a lot of diverse applications while still ensuring the security of staked funds.

How Many The Sandbox (SAND) Coins Are There in Circulation?

There is a maximum and total supply of 3,000,000,000 SAND tokens. Currently, about 680,266,194 SAND tokens are in active circulation, which represents 23% of the total supply available as of March 2021. Of the total token supply, about 25.82% was set aside in a company reserve. Another 17.18% were allocated for the seed sale of the token. The founders and team members secured about 31% of the total token supply distributed among them. Around 12% of the total supply were set aside for a dedicated Binance Launchpad Sale, and another 10% were dedicated as rewards to advisors on the project.

What Makes The Sandbox Unique?

The Sandbox is a unique platform because it introduces blockchain technology to the world of gaming. The gaming industry is a huge untapped market when it comes to the adoption of blockchain tech, and Pixowl saw that in 2011. By creating a universe where gamers can create and collect blockchain-based assets, the Sandbox aims to revolutionizes the market. It makes a niche for itself in the global market of gaming. By focusing on user-generated content, the Sandbox creates a metaverse of involved players who contribute to the platform’s further development. Not only that, by introducing the SAND token, the Sandbox promotes decentralized governance and allows users to share their views and ideas about the development of the project. Thanks to the evolving technology, decentralized governance is becoming a must-have in blockchain-based projects. The company started out with a bang and attracted support and investments from numerous big names in the gaming industry. These include brands like Atari, Helix and CryptoKitties.

Who Are the Founders of The Sandbox?

[Arthur Madrid](https://www.linkedin.com/in/arthurmadrid/) is co-founder and CEO at Pixowl, and he is one of the driving forces behind The Sandbox. He graduated with a degree in economics from Université Paris Dauphine in 2000. Madrid’s professional career began as a consultant for Eurogroup Consulting France, but he soon found his entrepreneurial spirit. In 2001, he founded 1-Click Media, which was later purchased by Ipercast. [Sebastien Borget](https://www.linkedin.com/in/borgetsebastien/) is also a co-founder at Pixowl and serves as the COO of the company. He graduated with a degree in computer systems networking and telecommunications from Institut national des Télécommunications in 2007. His professional career began as a project lead for 1-Click Media, and since then, Arthur Madrid and Sebastien Borget have been an entrepreneurial duo. They founded Pixowl in 2011 and have been continually working on projects together.