What is Syscoin?

Syscoin (SYS) is a cryptocurrency of a Syscoin Platform. This platform provides trustless interoperability, token and asset microtransactions that are scalable, and bitcoin-core-compliant security. It can reportedly interoperate today with any Ethereum standard ERC-20 token without requiring second or third-party liquidity providers.
Syscoin Core is a SHA-256 merge-mined Proof of Work blockchain which can be mined using energy already spent mining Bitcoin. Syscoin Platform utilizes a network of Masternodes as a scalable service layer and offers Masternode owners seniority bonuses.

Where did Syscoin come from?

The project was initially created as a blockchain protocol that expanded on the concepts of Bitcoin to include additional services, like smart contracts, to enable the creation of a decentralized marketplace. The project launched in 2014 as a fork of the Litecoin network. Soon after it completed its token sale and mainnet launch, its funds were stolen. Over the next two years, the team worked to build Syscoin 2.0, which it eventually launched in May 2016.

The launch of the 2.0 network included a new graphical interface and wallet, replacing the previous command line interface. In Aug. 2017, the Syscoin team created Blockchain Foundry as a separate entity to help realize its goal of creating a marketplace platform. In Sept. 2017, Blockchain Foundry released its first product Blockmarket, a blockchain-based e-commerce solution. Following the successful launch of Blockmarket, Blockchain Foundry raised $3.3 million to fund its operations, which included research and development for various blockchain innovations outside of Syscoin.

On April 30, 2018, Syscoin released another upgrade to the network (3.0), which includes the ability to create unique fungible and non-fungible tokens on top of the blockchain. Syscoin 4.0, its latest upgrade, involves a number of changes including: Z-DAG - a decentralized DAG for assets which features global sorting of DAG consensus and near-instant transactions, with SHA256 finality also achieved in background and Bridge - cross-chain asset interoperability without requiring atomic swap nor intermediaries, that offers scalability to Ethereum and other platforms, giving ERC20's, etc, the option to utilize Z-DAG for simple value transfers/micro-transactions.

What are the advantages of Syscoin?

  • Interesting design
    Many tokens try to stand out. But if some people can do it, others can't. In this case, everything worked out: the coin has an interesting and recognizable appearance.
  • Easily adapt
    The platform is designed for several types of digital currencies.
  • Extensive functionality
    It is thanks to the excellent tools that users choose the platform. So far, there are no similar platforms for trading on the cryptocurrency market.
  • Quality support
    Experienced specialists will always help you solve problems.

What are the disadvantages of Syscoin?

  • Unappreciated coins
    The cost of SYS is clearly less than the coin deserves. This is due to the market being overloaded with coins.
  • The control of the developers
    Cryptocurrency was created with the idea of complete anonymity and users’ freedom. However, there is a developer control that ensures high quality and security.

How to buy Syscoin on SimpleSwap?

If you want to buy Syscoin and become its owner, we recommend you to read the instructions below, which will help you buy a coin quickly and easily:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select SYS in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Enter the Recipient's Address. Syscoin will be sent to this address. Be careful and make sure you use the correct address.
  • Check all the information you have entered. If everything is correct click the Exchange button.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

Kindly thank you for your interest in the coin and the SimpleSwap website.

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Syscoin (SYS)

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