Published on Feb 21, 2020
Syscoin is a cryptocurrency that enables instant payments to anyone in the world, regardless of location. Like all alt-coins, Syscoin uses peer-to-peer technology to operate without any central authority.[2][3] Released under the MIT license, Syscoin has grown to become a blockchain protocol, built off bitcoin's but extending its capabilities, that offers complete solutions to a robust user base comprising individual developers and corporations.[4] Blockchain Foundry, the company behind Syscoin, has since released Blockmarket, one of the first fully working decentralized marketplaces and the first one built entirely on the blockchain, where syscoin, among other cryptocurrencies, is acceptable tender.[5] Syscoin currently trades on multiple digital asset exchanges and has a market value of more than US$407 million
Syscoin is a global network, a distributed ledger, a decentralized database and a blockchain. It is also a cryptocurrency, an altcoin, a digital currency and a tradeable token.
Syscoin is based on a fork of the Bitcoin protocol and is merge-mined with Bitcoin, giving us one of the most secure, stable and scalable networks to ever exist on the planet.
Our first project completed Satoshi Nakamoto’s original vision of including a marketplace on the blockchain, but we didn’t stop there. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone!
The Swiss Army Knife of cryptocurrency platforms, our collection of features and smart contracts can be used to provide solutions for hundreds of different decentralized service use-cases directly on the blockchain and our hardened smart contracts cannot be compromised for nefarious purposes like some turing-complete platforms. All these features work together to create applications not possible with other blockchain projects.
The Syscoin Blockmarket Wallet offers all the features you need to send and receive Syscoin, keep your transaction logs in order, buy and sell items, resell others items, send encrypted messages to others and more.
The Syscoin Blockmarket wallet is the first and only wallet of its kind. Its cutting edge features makes it a top choice of users all over the world. There is never any downtime or service outages.
Syscoin Blockmarket launched on September 12th, 2017 1:23 PM Pacific Standard Time
Syscoin uses the Dark Gravity Wave v3 (DGW) difficulty algorithm, and has an 888-million maximum coin limit, a 60-second block time, and is proof-of-work SHA-256 merge mineable. Syscoin 2.0 had a block reward of 54.13 tokens per block. Syscoin 2.1, released on December 18, 2016, halved block rewards by 330% percent, reducing the tokens per block to 16.39. Mining rewards, designed to be gradual and smooth, end at about 800 million coins (block 24,177,646 will happen around the year 2052), and thereafter supply is inflated via the Syscoin inflation/deflation system, assuming services are in high demand.
Syscoin is a permissionless, blockchain-based cryptocurrency with a set of smart contracts tested and built on the Bitcoin scripting system using OP1 to OP16 standard script op-codes. In contrast to Turing-complete smart contracts such as those found on Ethereum, smart contracts on Syscoin are hardened, while retaining backwards compatibility with the Bitcoin protocol, and can be combined to form building blocks for blockchain-based e-commerce solutions. This combination of hardened contracts and Bitcoin compatibility makes Syscoin the ideal choice for commercial integrators looking to leverage a secure solution utilizing blockchain technology.
In addition, Syscoin services are built with an alias identity system that utilizes recognizable, unique, and case-insensitive names to facilitate transactions across the network, including multisignature signing, payment discovery, and maintaining payment balances. Cryptographically secure signatures ensure that only the alias owners can perform transactions on the network
