Sentinel Protocol Coin: A Blockchain Security Solution for Crypto Assets

Sentinel Protocol Coin: A Blockchain Security Solution for Crypto Assets

Sentinel Protocol Coin (UPP) is a cryptocurrency that is used as the medium of exchange and reward on the Sentinel Protocol platform, a blockchain security solution that aims to protect crypto assets from hacking threats and frauds. Sentinel Protocol is powered by the Ontology blockchain, and leverages its features such as identity, storage, and interoperability. Sentinel Protocol also collaborates with various partners and platforms, such as Cobak, MBL Media, Travala, Bitvavo, and Blocktrades, to provide a comprehensive and diverse service for its users.

Coin Introduction and Features

UPP was launched in 2019 as part of the Sentinel Protocol ecosystem, which consists of two main components: the Sentinel Protocol service and the Sentinel Protocol token. The Sentinel Protocol service is a web-based platform that allows users to access, manage, and deploy blockchain security solutions based on the Sentinel Protocol chain. The Sentinel Protocol token is a utility token that is used for economic activity and governance on the platform. UPP has several features that make it attractive for users and developers of the Sentinel Protocol platform and beyond. Some of these features are:

• UPP is used as the medium of exchange and reward on the Sentinel Protocol platform, which creates a circular economy and a positive feedback loop for the participants. Users can use UPP to pay for network fees, security services, and other services on the platform. Developers can earn UPP by creating and deploying blockchain security solutions, receiving donations and tips, and participating in various events and campaigns.
• UPP is also used as the governance token of the Sentinel Protocol platform, which empowers the community and ensures the transparency and fairness of the platform. UPP holders can vote on various proposals and decisions that affect the platform, such as the security selection, the revenue distribution, and the platform development. UPP holders can also delegate their voting power to other users or validators, who are responsible for maintaining the security and functionality of the platform.
• UPP is compatible with the latest developments and innovations from the Ontology network, which is the underlying blockchain of the Sentinel Protocol platform. Ontology provides various features and services that enhance the performance, scalability, and functionality of the Sentinel Protocol platform, such as the ONT ID identity protocol, the NeoFS storage system, and the Poly Network interoperability framework. These features enable the Sentinel Protocol platform to verify the identity and reputation of the participants, store and distribute the data securely and efficiently, and communicate and collaborate with other blockchains and platforms.

Market Analysis and Trends

UPP has experienced significant price fluctuations in the past, mainly due to the supply and demand dynamics of the Sentinel Protocol platform and the cryptocurrency market. UPP has a maximum supply of 500 million tokens, which is determined by the inflation rate of the platform. The inflation rate decreases every year, until it reaches zero in 2039. The current annual inflation rate of UPP is around 3.5%1. The demand for UPP is influenced by the activity and popularity of the Sentinel Protocol platform, as well as the external factors such as the price of ONT and other cryptocurrencies, the regulatory environment, and the market sentiment.

According to CoinMarketCap, UPP is currently ranked 640th among all cryptocurrencies, with a market capitalization of $41.7 million and a 24-hour trading volume of $2.3 million. The current price of UPP is $0.0838, which is up 3.66% in the last 24 hours and up 17.5% in the last 7 days. The all-time high price of UPP was $0.741 on April 2, 2021, and the all-time low price was $0.021 on March 13, 2020.

The price trend of UPP is largely correlated with the price trend of ONT, which is the main driver of the Sentinel Protocol platform and the UPP generation. ONT has also experienced significant volatility in the past, reaching an all-time high of $10.92 on May 3, 2018, and an all-time low of $0.226 on March 13, 2020. The recent price movements of ONT and UPP have been influenced by several factors, such as:

• The recovery of the cryptocurrency market in 2020 and 2021, which was driven by the increased adoption and innovation of Bitcoin, Ethereum, and other altcoins. The cryptocurrency market reached a new all-time high of over $2 trillion in April 2021, which boosted the demand and price of many cryptocurrencies, including ONT and UPP. The market also witnessed increased volatility and corrections, which affected the price of ONT and UPP as well.
• The development and updates of the Sentinel Protocol platform and the UPP project, which aimed to improve the user experience, the security, and the scalability of the platform. Some of the recent updates include:
  • The launch of Sentinel Protocol Plus in March 2021, which is a premium subscription service that offers exclusive content, discounts, and benefits to the users. Sentinel Protocol Plus costs 9,900 UPP per month, and users can pay with UPP or other cryptocurrencies via the Poly Network.
  • The integration of UPP with various platforms and services, such as:
    • Travala, a leading blockchain-based travel booking platform, which added UPP as a payment option in October 2020, allowing users to book over 2.2 million hotels and accommodations worldwide using UPP2.
    • Bitvavo, a European cryptocurrency exchange, which listed UPP in September 2020, enabling users to buy and sell UPP with fiat currencies such as EUR, GBP, and CHF3.
    • Blocktrades, a popular cryptocurrency exchange and service provider for the Sentinel Protocol platform, which upgraded its UPP conversion service in August 2020, offering faster and cheaper conversions between UPP and other cryptocurrencies.

Project Updates

The Sentinel Protocol platform and the UPP project are constantly evolving and improving, thanks to the efforts of the developers, the validators, and the community. Some of the latest updates and announcements for the Sentinel Protocol platform and the UPP project are:

• The launch of Sentinel Protocol Studio in April 2021, which is a content production and distribution company that focuses on creating original and quality content for the Sentinel Protocol platform. Sentinel Protocol Studio aims to support and collaborate with talented and passionate filmmakers and content creators, and to provide them with a fair and transparent revenue share, audience data, and equal screening opportunity.
• The announcement of the Sentinel Protocol NFT Marketplace in March 2021, which is a platform that allows users to create, buy, and sell non-fungible tokens (NFTs) related to movies and content on the Sentinel Protocol platform. NFTs are unique and scarce digital assets that represent the ownership and authenticity of various forms of art, such as posters, trailers, scenes, and scripts. The Sentinel Protocol NFT Marketplace will use UPP as the main currency, and will leverage the Ontology blockchain and the NeoFS storage system to ensure the security and efficiency of the transactions and the storage of the NFTs.
• The integration of UPP with Ledger Live in February 2021, which is the official app for managing Ledger hardware wallets. Ledger Live allows users to securely store, send, and receive UPP with their Ledger devices, as well as access other features such as portfolio management, staking, and swapping.

Analysis and Recommendations for Investments

UPP is a unique and valuable cryptocurrency that offers a medium of exchange and reward on the Sentinel Protocol platform, a blockchain security solution that aims to protect crypto assets from hacking threats and frauds. UPP has several advantages and disadvantages as an investment, which are:

• Advantages:
  • UPP is used as the medium of exchange and reward on the Sentinel Protocol platform, which creates a circular economy and a positive feedback loop for the participants. Users can use UPP to pay for network fees, security services, and other services on the platform. Developers can earn UPP by creating and deploying blockchain security solutions, receiving donations and tips, and participating in various events and campaigns.
  • UPP is also used as the governance token of the Sentinel Protocol platform, which empowers the community and ensures the transparency and fairness of the platform. UPP holders can vote on various proposals and decisions that affect the platform, such as the security selection, the revenue distribution, and the platform development. UPP holders can also delegate their voting power to other users or validators, who are responsible for maintaining the security and functionality of the platform.
  • UPP is compatible with the latest developments and innovations from the Ontology network, which is the underlying blockchain of the Sentinel Protocol platform. Ontology provides various features and services that enhance the performance, scalability, and functionality of the Sentinel Protocol platform, such as the ONT ID identity protocol, the NeoFS storage system, and the Poly Network interoperability framework. These features enable the Sentinel Protocol platform to verify the identity and reputation of the participants, store and distribute the data securely and efficiently, and communicate and collaborate with other blockchains and platforms.