With all of the advancements being made in the field of social networking, there are now many platforms on the internet that have been designed especially for LGBT communities that are spread all across the globe. As a result of these new networks, members of the LGBT community can freely communicate and discuss ideas with like-minded people of different age groups, social statuses, etc.
What Is Sugar?
Sugar can be thought of as a unifying platform that will help bring together more than 300,000,000 potential LGBT users. When looked at in more detail we can see that Sugar makes use of latest encryption means, along with a specialized ‘Blockchain technology’ that has been functionally shown to help provide users with a high degree of confidentiality.
In addition to this, correspondence on the network is easy, and multimedia files, documents can be stored safely due to the use of ‘distributed registers’ that are able to keep track of any data movement within the system.
Does Sugar Use Its Own Currency?
Yes. Sugar makes use of its own cryptocurrency known as ‘LGBiT tokens’ that can be used for purposes such as:
- Mutual settlements between two or more involved parties.
- Purchase of goods and services
- Raising of funds for charitable purposes.
Readers will also be interested to learn that this crypto token has been classified as a ‘ERC20 standard’ currency that was initially founded on the Ethereum blockchain.
What Makes Sugar Stand Out?
According to market research data, it can be seen that there are potentially over 300,000,000 users who will be making use of this platform in the near future. This impressive number is backed by a ‘solid end-to-end encryption’, that makes it nearly impossible for outsiders to gain access to the system and check out the activities that have been taking place on this network.
As mentioned earlier, all of the transactional data, messages and sensitive data is fully protected.
Multi Language Support:
In order to promote widespread use and appeal, there are many language options that one can choose from. The primary languages that users can select between include English, French, German, Chinese, Portuguese, Japanese, Spanish and Russian.
Serves As A Marketplace:
One of the most unique aspects of Sugar is its ability to integrate a social environment into a fully functional marketplace. As a result of this, people can buy and sell goods irrespective of their geo-locations.
There is an option to send/receive Instant messages that are totally encrypted via the use of this platform. Not only that, there is also a special built-in module in Sugar that allows users to carry out online streaming, maintaining video blogs, holding classes, and streaming webinars.
Other Important Facets Of Sugar
There is an inbuilt graphic image editor in Sugar that helps to enhance images before they are shared. There is also a VPN option that makes anonymous browsing much more easy and convenient.
In the near future, Sugar aims to integrate over 100 various games onto the platform so as to keep users engaged.
Sugar Token Sale Details
As mentioned previously, Sugar is offering users with a token currency called ‘LGBiT‘. They can be purchased through entering the pre-sale that starts on 15 November 2017 (and ends on 14 December 2017). In all there will be a total of 550,000 tokens that can be bought, and the cryptocurrency of exchange will be Ethereum. To give readers a better idea of the worth of these tokens, we can see that 1 Ethereum will be able to buy us 800 LGBiT tokens. The minimum token purchase per individual is 0.05 ETH.
In addition to this, company representatives have outlined an appropriation of the collected funds in the following ways:
- 70% of the money that is procured will be used to boost the currently existing market campaign.
- 20% of the funds will be used to continue web research and development.
- 10% of the total funds will be used to start production on a mobile version of Sugar.