Syscoin was founded in 2014, making it one of the earliest crowdfunding projects in the blockchain space. Since then, it has achieved many significant milestones, including the development of a truly decentralized Directed Acyclic Graph (DAG) network, becoming a founding member of the Center for Organizational Identity at Microsoft, and joining 2Tokens as a technology partner. Syscoin offers near-zero-cost financial transactions and provides infrastructure for secure trades of goods, assets, digital certificates, and data for businesses. Syscoin is applicable to various business types, ranging from eBay traders and high street shops to medical applications, insurance, supply chain logistics, finance, and gaming, with its decentralized network benefiting everyone. Syscoin is now represented by the Syscoin Foundation, led by Chief Core Developer Jag Sidhu.
Introduction
Syscoin (SYS) is a revolutionary cryptocurrency that offers near-zero-cost financial transactions and provides infrastructure for secure trades of goods, assets, digital certificates, and data for businesses. Syscoins native business-oriented features on the blockchain make it more than just money and transactions; it has the potential to attract various business types, from eBay traders and high street shops to medical applications, insurance, and gaming. Syscoins decentralized network can benefit everyone.
Project Features:
1. Decentralized marketplace through blockchain.
2. Data storage provision.
3. Digital verification.
4. Global merged mining to secure other scrypt issues.
Features
High Transaction Throughput
Syscoins unique Z-DAG technology means the network can handle 60,158 Syscoin Platform Token (SPT) transactions per second (TPS), while remaining decentralized and secure.
Interoperability
Using the Syscoin Bridge to establish bridges between blockchains makes interoperability with other chains simpler than ever.
High Security
Syscoin is merged mined with Bitcoin, providing an extremely powerful and secure network for Syscoin.
Low Fees
The fees for trading Syscoin Platform Tokens or assets are very low, making it suitable for various use cases, such as point-of-sale transactions.
Applications
Point of Sale
The Syscoin protocol enables real-world point-of-sale applications, usable for in-store transactions or e-commerce. High-speed, fast-settling asset trades through Syscoin’s proprietary Z-DAG technology mean you can enhance your business capabilities.
Potential use cases include:
Decentralized markets and e-commerce
Gaming assets and microtransactions
Certificate-backed digital goods
Inventory management and tracking
Create Cryptocurrency Tokens
Syscoin Platform Tokens (SPT) allow anyone to quickly create their own cryptocurrency tokens on the Syscoin platform.
Masternodes
Syscoin uses Z-DAG, governance issuance, and seniority to enhance masternodes for high transaction throughput.
Zero Confirmation Transactions
Transferring funds or token ownership using the Z-DAG protocol enables near-instant transactions, making it ideal for retail environments.
Scale with Business Growth
Syscoin Assets offer one of the highest transaction processing rates (TPS) in the blockchain space, allowing your application to scale with your business growth. Z-DAG currently has a TPS rate of 60,158, independently verified by third parties, giving the Syscoin platform a significant advantage over other blockchain protocols.
Tech Profile
Segregated Witness Activation:
At the end of March 2017, the Syscoin team successfully activated segregated witness and completed Lightning Network testing, becoming one of the few blockchain projects to successfully trigger this technology. After activating segregated witness, Syscoin announced the successful use of the first Lightning Network transaction on the mainnet on April 26th, 2017, at 6:43 PM Pacific Standard Time.
The Lightning Network is a decentralized network that allows instant payments using smart contracts. The Lightning Networks outstanding feature is that it enables real-time, high-volume transactions without trusting the counterparty or third parties. Syscoins completion of segregated witness activation and Lightning payments paves the way for the release of a blockchain-based marketplace, enabling blockchain shopping on mobile web versions in the future.
"Decentralized" Blockchain Marketplace:
To develop the blockchain online marketplace, the SYS team registered and operates Blockchain Foundry in Canada, dedicated to providing secure blockchain infrastructure and consulting services to enterprises and developing products based on Syscoin smart contracts. They also provide consulting and development services for Ethereum blockchain and Hyperledger blockchain technologies. The team leverages blockchain technology to create a "decentralized," low-operating-cost, highly secure data transaction platform, where a unique combination of blockchain services is realized: distributed trades, third-party escrow, digital certificates, encrypted data, segregated witness activation, Lightning Network support, multisignature, aliases and identity systems, along with full support for Bitcoin and ZCash payment services.
Commentary
Syscoin is a blockchain-based cryptocurrency equipped with a set of smart contracts that have been thoroughly tested and built upon the Bitcoin script system, which uses standard script operation codes OP1 to OP16. These contracts can represent colored coin transactions, controlled by a layer of distributed consensus logic specific to each smart contract, while still maintaining backward compatibility with the Bitcoin protocol. These contracts can be combined to form building blocks for blockchain-based e-commerce solutions.
Syscoins reinforced smart contracts contrast with Turing-complete smart contracts, which, by definition, are not reinforced due to the open nature of the underlying scripting language. Compared to traditional e-commerce applications, some businesses looking to leverage blockchain technology for increased efficiency and secure solutions find the best approach to be using immutable, reinforced services that undergo regression testing, white box, and black box testing, along with rules specifically tailored for the application. These businesses tend to choose the most powerful network (currently the Bitcoin network). Syscoin combines both functionalities, making it the optimal choice for users.
Related Links:
https://syscoin.org/
https://info.binance.com/cn/currencies/syscoin
http://www.qukuaiwang.com.cn/szhb/1999.html#jj
