SYS

SYS

Syscoin
$0.041883
+39.07%
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Max SupplyCirculating SupplyIssue DateIssue PriceConsensus ProtocolExplorer
888,000,000544,958,2602014-08-16$0.001000POW1
chainz.cryptoid.info
Total SupplyCryptographic AlgorithmSource CodeWhite PaperWebsiteType
544,958,260SHA256 (BTC Merge Mined)https://github.com/syscoin/https://syscoin.orgCOIN

Syscoin is a permissionless blockchain-based cryptocurrency with a set of smart contracts which have been thoroughly tested and built on the Bitcoin scripting system using OP1 to OP16 standard script op-codes, representing coloured coin transactions, controlled by a hardened layer of distributed consensus logic for each smart contract (Syscoin service) while still retaining backwards compatibility with the Bitcoin protocol. These contracts can be combined to form building blocks for blockchain-based e-commerce solutions. Syscoin's hardened smart contracts are in contrast to turing-complete smart contracts, which, by definition, are not hardened due to the open-ended nature of the underlying scripting language. Commercial integrators who are looking for a secure solution to leverage the increased efficiency that blockchain technology allows compared with traditional e-commerce applications are better off trying to use a hardened service which cannot change and is well-tested with regression testing, white box, and black box testing, specifically targeting rules of the application. Integrators are also inclined to choose the most powerful network available (currently Bitcoin with which Syscoin is merge mined). Syscoin combines both of these features, making it a compelling choice of network for end users.

  • The Latest Rating
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TokenInsight
2.5

Syscoin Rating Report

2018-09-11
Syscoin aims to establish a decentralized e-commerce platform and implements Z-DAG (Zero-confirmation Directed Acyclic Graph) to build its infrastructure. SYS is its own platform token used as a media of exchange in trading. However, the ownership of physical entities are hard to confirm due to the anonymity of trading processes and its current business model is quite questionable. Currently, vendors, and customers trading on its marketplace are very inactive. According to Syscoin blockchain explorer, there are currently only one or two transactions per minute.
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Coin Bureau
3.0

Syscoin (SYS): Building a Decentralised Marketplace

2018-03-02
Syscoin is trying to build a marketplace that can be seen as a decentralised alternative to the likes of Ebay and Amazon. They want to give the power back to the consumers and the retailers and bring down the fees that are associated with using large centralised platforms. The native token that is used in the Syscoin ecosystem is SYS. Transactions will be free when using SYS tokens to purchase on the marketplace. Syscoin is a fork of Bitcoin that happened in 2014. This means that it can be merge mined with Bitcoin and can bootstrap hashing power off of the Bitcoin network. Other features that are included on the platform include an unlimited inventory which means that users can both resell other users’ goods and allow their products to be resold for a commission. Prices can also be pegged to fiat currencies with an escrow included in case of delivery concerns. Syscoin has also released the option of running SYS masternode. For those network nodes that have more than 100,000 SYS, masternodes could be an attractive way to earn rewards. Syscoin was developed by members of the Blockchain Foundry management team. The foundry has been involved in blockchain development of the Syscoin protocol since 2014. SYS have been listed on exchanges for quite sometime and have been generally more volatile than the rest of the altcoin complex.