The new cryptocurrency projects are constantly in the news, whether they are high-value ICOs or innovative and exciting products. While there is no doubt that these projects are probably the most interesting for investors, there are several previous projects that have taken the slow and steady approach to build value and position in the market.
A project that certainly fits this description is Syscoin, a cryptocurrency that presents the world's first decentralized market directly in the portfolio. The decentralized market allows almost immediate payments at the time of purchase, almost zero fees and zero downtime, giving users the ability to pay for Syscoin, Bitcoin or ZCash products for privacy. The backbone of Syscoin is an alias identity system that enables a range of services, including encrypted messaging, digital certificate transfers and secure engagement. Ultimately, Syscoin aims to seamlessly integrate the use and storage of real cryptocurrency into one platform.
Interested in Syscoin? Here is a brief overview of the project:
Platform and development
In short, Syscoin is a blockchain-based cryptocurrency built on the basis of Bitcoin's core protocol with a series of smart contracts that allow a range of decentralized services. The team is actively working to keep Syscoin up-to-date with Bitcoin's latest core technology and has expanded with a host of features, including blockchain pruning, or efficient deletion of expired service data to minimize blockchain bloat for full notes and improve scalability.
The core component of the Syscoin project is its portfolio, called Blockmarket, which functions as a sort of blockchain merchant operating system. The Blockmarket wallet allows users to send and receive Syscoin, keep transaction logs in order, buy and sell items, resell other items through a decentralized market, send encrypted messages, and more.
Integral to the wallet Blockmarket is an alias identity system, which works to simplify long alphanumeric address addresses to a simple name. These aliases are unique, portable, and support transactions with multiple signatures. In addition, the aliases now include a private field that is only visible to the owner of the alias, allowing private storage of data on the blockchain.
Ultimately, these aliases allow for a much more intuitive market experience, allowing users to securely transaction with verified counterparts. This market, which is anchored as a decentralized alternative to eBay and Amazon, supports a number of additional features, including multi-currency payment options (BTC and ZCash) and arbitration commitments.
Syscoin (SYS) exploits the SHA256 mining algorithm and merges with any SHA256 coin. including Bitcoin. They even pulled out to masternode system, which works to improve transaction speed and privacy, as well as allowing better project governance. Currently, Syscoin masternodes require 100,000 SYSs as collateral and 75% of all block premiums are paid to these nodes.
The Syscoin roadmap, though outdated, shows a number of 2018 R & D plans, including a significantly strengthened masternode system and comprehensive Turing smart contracts.
The Syscoin team has a strong focus on developers, with over 8 developers working on the stack. To support their development, they also have a marketing group and a number of community managers through languages. The project is a product of Blockchain Foundry.
Syscoin (SYS) currently has a market capitalization of ~ $ 150 million with a circulating offering of 532,207,861 SYS and a total supply of 888,000,000 SYS.
Syscoin has been in the game for a long time and has taken a very controlled approach to developing its platform. Given the recent version of their portfolio and the increasing number of features that make this platform more useful, Syscoin could very well see accelerated value creation through 2018.
Other: Syscoin (SYS) sees Near-Record volumes on Binance Listing
Related: Syscoin (SYS) Price Surge a threat to eBay and Real Estate Auction
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Disclaimer: the author (s) of this article may have a position in one or more of the cryptocurrencies mentioned above. This article is for informational purposes only and should not be taken as investment advice. Always conduct due diligence before making investments.