An Interview with the SUQA Foundation Development Team

Since this project is one of the top volume trading project on several exchanges at this time (11–30–2018) I decided to Interview the team behind SUQA Foundation.

What is SUQA and how would you explain it to non-crypto speakers?

SUQA is the name of an ancient coin from Nepal that has been used for thousands of years and it also means “to wait” (Time-Lock) in Somali language. SUQA is basically a new digital cash that gives the basic newbie users option to get interest from their wallet up to 2.5% monthly even if the wallet is offline.

• It is based on the latest but also improved, proven code of Bitcoin.
• SUQA is created for the mass community of GPU miners and the investors, not for the big hardware companies and whales. SUQA team has created a brand new algorithm that is ASIC, FPGA and also for the first time in crypto, a project that can prevent Post-Quantum Attacks.
• SUQA is the fastest PoW (mineable) coin up to 533 transactions per second which is 75 times more scalable than Bitcoin with almost no fees.
• SUQA had no ICO, no pre-mine and comes with a 9.09% founders fee from every block. The 2.5% of the founders fee goes directly to SUQA Foundation Ecosystem Platform Rewards to foster the growth of the Blockchain. 2.5% will go to the developers. The rest will be used for marketing, bounties, exchanges listing and for everything that will make SUQA grow its ecosystem.

What are the use cases you are looking to cover?

• SUQA currency can be used in any digital transaction where other cryptocurrencies like Bitcoin is being used. The major use of SUQA currency in a real world ecosystem is SUQA Foundation where no other cryptocurrency except SUQA can be used.
• Suqa Foundation is a Decentralized Autonomous Philanthropist Organization that rewards everyone inside its ecosystem generously, securely and transparently without fees, to foster the growth of the Blockchain.
• There will be 3 microsites of SUQA Foundation Platform where the SUQA currency can be utilized. The platform will consist of Cryptolancers (anyone related to crypto), Blockchain Startup Companies and Charities.

Cryptolancers Platform:

Imagine meeting with all the Cryptolancers in the same social hub! Bounty programs can be setup without any fees taken from you. Your Cryptolancers Donation Rewards Pool will grow continuously by the amount payments you make to the Cryptolancer. The more finished bounties / jobs you paid with SUQA, the higher rank you will achieve in the pool. Become one of the top 5 donors every 3 months to win 100K SUQA from the top 5 donor’s reward. SUQA provides users of the hub for the Crypto jobs and projects. They get their job done free without any fees (excluding the very low network fees). Every 3 months the rewards pool start from scratch for new rewards. SUQA Foundation does not take any fees from transactions, jobs or projects. The rewards will decrease according to block rewards after halving until the end of the last mined SUQA currency.

Blockchain Startups Platform:

Imagine meeting with all the Blockchain Startup Companies in the same social hub and invest in the project with SUQA. With the amount of the payment you made to the Startup you will enter in the Startup Donation Rewards Pool. The more you invest in a Startup company with SUQA payment, the higher rank you will achieve in the awards pool. Become one of the top 5 most donators every 3 months to win 100K SUQA from the top 5 donators reward.

SUQA Charities Platform:

Everybody wants to donate sometimes for people who need help. But we often don’t know where and how we can do this help. Imagine meeting with all the Charities in the same social hub! You can donate for the charity you want without any fees taken from you. Similar to other SUQA awards programs, your awards pool balance increments equally to the amount you contribute to charities.

There is also a use case SUQA we are going to announce soon. Actually it may bring masses to crypto ecosystem. We are going to invite merchants and vendors to accept SUQA and going to give them incentive from developer fee. We will share detailed information about this program.

How can SUQA help simplify the usage of crypto for mass adoption ?

Mass adoption is one of real use case of SUQA. PoW and PoS is most known consensus model in crypto space. The eldest one is PoW. SUQA uses PoW consensus.

First for the GPU miners which are the majority in the crypto community and for all kinds of short, mid and long term investors to even earn interests from our easy wallet. Decentralizing PoW from the big hardware companies is the first step of mass adoption, being decentralized by the investors and making people earn interest from their own wallet even offline is the second step and aiming to help get more people inside crypto by giving jobs and rewards is the final step and goal for mass adoption. The ecosystem is created to bring more people in the crypto space and also help them connect in one hub for jobs, projects and winning rewards.

What’s the added value of SUQA in comparison with competitors?

Fair launch means lot to people in crypto space, especially miners. We think masternodes doomed this area. Check exchanges, (some of them didn’t even bother to get listed though) there are tons of premined masternode projects that harmed tons of investors that trusted them. We are building a complete new ecosystem and we are going to show everyone in this space how SUQA will climb to top. SUQA is first about lots of things in comparison to others and i am not talking about our vision.

• In House built brand new algo with thousands of working hours.
• One of the First Quantum Resistant Algo.
• Only ASIC and FPGA Resistant coin.
• Fastest Instant PoW coin transactions with almost no fees.
• Earn monthly interest up to 2.5% from couple of simple clicks in your wallet unlike proof of stake you don’t need to open your computer up or you don’t need vps or any other third party.
• No ICO, No Premine but with funds for all the marketing and exchanges listing.

SUQA will have an ecosystem platform to bring more people into crypto space.

Can you tell us more about the Time-Lock Interest System ? What is it and how can we benefit from it ?

Time-lock interest basically turns your wallet in to a savings account to get up to 2.5% interest monthly. You just decide the amount and time up to 30 days and deposit to a new receiving address and you will start earning interest right away. And in contrast to the complex PoS systems many coins have, locking is super simple and transparent for the user.

Well the easiest way to look at it is they are generated by the blockchain when the address meets the proper rules. Just like in Bitcoin they are generated when you mine a block or a PoS they are generated when staking. In SUQA you generate when you move coins from one address to another based on how long it sat in the first address, meaning 10 SUQA sat in address Sxxxx for 100 blocks, when you move them to address Syyyy, the blockchain generates the interest. The reason you see the interest in the wallet is because of the added calculation that will happen when it is moved. It is done to show how much you can move and so you can watch it grow without having to move it every block.

Who is behind SUQA? Backgrounds?

SUQA team consists of growing expert developers and successful business individuals.

Tamer Dagli aka Cryplander - Ceo and Co-Founder

Even though he has been running other big successful businesses not related to crypto, he has been in technology, hardware, software and games for more than 30 years since his early childhood. He has been in the crypto era as an investor and miner since 2015. He knows how to handle the community in his own sincere transparent way by answering to every single person and question in the SUQA community. He has big experience for recruiting and managing lots of people at the same time and he has experiences for all the consequences that might occur for miners and investors and he definitely knows how to solve them.

Pallas - CTO & Co-Founder & Lead Cryptographer

Pallas is the helper expert blockchain developer and he is very well known in btctalk.org forum and trusted by the crypto community. He answers every tech question in the channels and his great personality even surpasses his unlimited skills. He is already involved and loyal in 2 projects and gives great support for them too.

Pallas is the mastermind of SUQA tech and creator of the infamous x22i algorithm.

Programmer, Project manager, IT manager, Database manager, Network administrator, Hardware technician.

Coder since 1984. Linux evangelist since 1994. Crypto coin and miner developer since 2013.

Crypto coin development started in 2013 as miner optimiser (for example Pallas made the quickest opencl groestl kernels of the time), then moved to wallet development and making miners for new algorithms.

Pallas created the first OpenCL and cuda miners for the HMQ1725 PoW algo, among others.

After participating to the development of some coins like Gridcoin, in 2016 Pallas took the main developer position of Cryptonite (XCN), along with the original creator Bitfreak. XCN is the first coin using mini-blockchain technology and other advanced features.

In 2017, when the project was still very young, Pallas joined the Lethean (the former Intense Coin) team. A cryptonote coin with distributed blockchain based VPN application, it is a very promising project, and a crypto coin with real world usage.

Atakan Koycu aka Depozitosuz - Lead Web Developer

Depozitosuz is the gem of SUQA with his countless abilities. He is constantly updating the SUQA.org website and he turned it into the most informative cryptocurrency website ever. He will be in charge of the SUQA Foundation Ecosystem Platform development with some other great developers who want to stay anonymous. 9 years experience in SAP Consulting and Integration Consulting. Miner and Investor since 2014.

Some of his skills are, SAP XI/PI/PO and Integration Consultant (from 7.0 ABAP+JAVA Dual Stack to 7.50 JAVA Single Stack) | XSLT Design & Code (First pagination and diynamic field management) | Blockchain, dAPP and Smart Contract Researcher | e-Commerce Developer (B2B, Wholesale, Variable or Custom Products with Woocommerce/Magento) | Virtual POS Systems Integrations | eInvoice Consultant

These are the main core team of SUQA that will never change or replaced with anyone. The rest of the team are too long to write in this article please feel free to check out suqa.org website and SUQA discord for more details.

Thinking about the future, do you have any roadmap with relevant upgrades or partnerships?

Yes we will have hard forks every 6 months to implement a new algo to stay decentralized by being GPU only. We will also be adding new features on every hard fork to stay dynamic and updated. SUQA Roadmap, white paper, webpage, blockchain will always be updated and upgraded.

SUQA has is soon releasing the Google Play and the Apple Store mobile app wallets but there is already a working web and an Android web wallet. Once implemented, the mobile wallets will be the only interest giving mobile wallets even if they are offline.

Detailed explorer that shows the current time-locked wallets and the added interest to the circulating supply and some more features will be launched soon from our collaboration.

Plans for exchanges?

SUQA is already on 7 exchanges. Aacoin(Chinese), CryptoBridge, TradeOgre, Stex, Escodex and Myqbtc (Chinese), Vbitex (Vietnamese)

SUQA will have more surprise exchanges 6 December next halving time.

How much funds do the core team has in budget for development and marketing?

Enough budget. We have already spent more than half of the 9.09% founders fee equal to BTC.. We have enough funds for future development and marketing. We will also give away 30 million SUQA coins from the SUQA Foundation Ecosystem Platform. We will be releasing a financial article on medium soon for our spendings so far and our monthly budget spending.

How will be the distrubution of the ‘Founders Fee’ look like

We’ve published an article about this topic few days ago which you can read here: https://medium.com/@suqa/on-founders-fee-transparency-431a16550058

Thank you for your time. If you enjoyed the read feel free to follow me on Twitter.