What is Syscoin?
Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. 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! Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers. With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today. In simple terms think Dash + Ethereum/Lisk + Monero + Nano + Storj + Particl capabilities all in one coin!
The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources. Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release. Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias. The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain. The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.
The Team The Team that NEVER quits!
Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here: http://www.coindesk.com/uk-court-syscoin-injunction-moolah-750-btc/
. What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF. View Team Page.
Blockchain Foundry Products BF Products
What is Blockmarket Desktop?
Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth!
Blockmarket Desktop was launched on September 12, 2017. Download Blockmarket Desktop 1.2
Key Blockmarket Features
- Decentralized Marketplace
The marketplace platform provides a decentralized and high redundant channel for selling goods and services. Features include: • Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC • Bitcoin and Zcash as payment options • Arbitrated Escrow • Encrypted Messaging • KYC/AML Compliance • Images • Unlimited Inventory Items
- Name Aliases
Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.
- Digital Certificates
Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.
- Integrated Exchanges
Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.
- Security Audit Verified
Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. View Audit Results.
Blockmarket Desktop – Quickstart Tutorials (16 short vids) BM Desktop – Quickstart Tutorials
Blockmarket Web – (The Key to Mass Adoption)
BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in Q1 2018. This launch will be accompanied by a marketing campaign roll-out that seeks to build brand recognition with audiences within the existing crypto ecosystem and more significantly with the broader, global, non-crypto audience. For this reason Ballistic Arts, a full-service marketing agency was retained by BF. BF Engages Marketing Agency
Primary Target Market + Value Potential
The primary target market for BF’s Syscoin/Blockmarket web flagship is the retail e-commerce industry. This sets up their decentralized marketplace to rival such commercial giants as Amazon ($648B market cap), Alibaba ($453B market cap) and eBay ($43B market cap). According to eMarketer’s Worldwide Retail and Ecommerce Sales report, global retail e-commerce sales for 2017 were $2.3 Trillion. This is expected to reach an estimated $4 Trillion by 2020 reflecting the rapid growth within this sector. To perform a very simple assessment of the Syscoin/Blockmarket web’s potential let’s assume that a 1% portion of the forecasted $4 trillion market is captured, which represents $40 billion in revenue. Assuming a sales to market cap ratio of 1:1 for simplicity, the circulating supply of 531 million SYS, with a $40 billion market cap yields a price of roughly $75 per coin. However, with masternodes that limit the circulating supply and token utility that extends beyond retail e-commerce, the SYS price could likely reach much higher. Please note that these are just very simple assumptions and projections for this exercise, however the real world driven potential that this project has is clearly evident.
Key Syscoin Developments
- Z-DAG: Zero Confirmation Transactions with Double Spend Protection (WORLD’S FIRST) View Developer’s Twitter post View Syscoin’s Twitter post
- Masternodes Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc).
In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized.
- Masternode Rewards + Min. Hardware Specs Masternode Rewards + Min. Hardware Specs Masternode ROI Calculator
- Smart Contracts
Scalable Ethereum Virtual Machine: Allows Turin complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.
- Assets & Token Issuance
With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.
- Anonymous Transactions
Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin.
This brings true money fungibility to Syscoin and the missing link for true economic sovereignty. View Developer’s Twitter post.
- Instant Send
Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.
Why Invest in Syscoin?
Merchants Merchant Pilot Program
White Paper White Paper.pdf
Note: It is anticipated that the whitepaper will be updated by the team in the near future due to recent developments
Roadmap Roadmap 2017-2018.png
Blockchain Application Development Architecture Blockchain Application Development Architecture.png
Feature List 2017 & 2018 Feature List 2017 & 2018.jpg
Where to Buy
• Tux Exchange
• Block Market Wallet 1.2 – Windows and Mac. Download from https://syscoin.org/
• QT Wallet for Developers: Download from https://github.com/syscoin/syscoin2/releases/tag/2.1.6
• Coinomi – Syscoin MultiCoin Wallet (only supports send/receive)
• HolyTransaction – Syscoin Multicoin Web Wallet (desktop & android)
Need Help or Want to Contribute?
If you need help for an important wallet issue or if you want to know how you can contribute in promoting Syscoin Join the Slack channel
where the SYS team and community members are active, helpful and responsive.
- SYS Team - keyare, sidhujag, sebastien123
- Redditor alias - djminger007
- Redditor alias – Todoruku
- Twitter alias – CryptoMink
- Medium blogger – Steven Voros
- Medium blogger – Daniel Westby
- Medium blogger – The Crypto Journal
- Slack Community members – Redrace, Mettamark, Rare and Viljis
Other Sources https://syscoin.org/ https://twitter.com/syscoin https://www.blockchainfoundry.co/ https://en.wikipedia.org/wiki/Syscoin
This post was last updated on Feb 10 2018.
This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
A hardware wallet is a special type of Bitcoin wallet which stores the user's private keys in a secure hardware device. They have major advantages over standard software Wallets. Private keys are often stored in a protected area of a microcontroller, and cannot be transferred out of the device in plain text. Some common hardware… Review: Read: Read: Read: Visit: Visit: Visit : Below is a tabular overview of all notable altcoin trading bots on the market, most of them are described in more detail in the second part of the article. Name Price Supported Exchanges; Cryptohopper: $19 to $99 per month: 12: Quadency: free to $49 per month: 12: Bitsgap: $19 to $109 per month: 25: Margin.de (“Discount10” for 10% off) $129 ... With over 140 bitcoin & crypto exchanges that you can filter and compare, we are the biggest crypto one stop shop. Find out what exchanges other people are using and why they think they are good. Let us know which is your favorite and make sure you leave a review on the exchanges you have used. First we will review the 18 best bitcoin bot systems, ... It supports BitFinex, Bittrex, Bitstamp, Binance, GDAX, KuCoin, Poloniex, YoBit, Huobi, and Cryptopia. Additionally, it is very easy to use and navigate, and users can see all of their trades, and have access to additional features, like trailing stop losses, copy trading, automated mean-reversion trades, and alike. Finally, its traders ... A potential Amazon cryptocurrency exchange: ... Page best crypto exchange review 3826.Yobit intraday tips best site The portal was officially introduced in 2015 on Php Check Bitcoin Wallet Balance. It is possible to trade on CEX.IO without identity verification, but in order to either withdraw fiat currency or purchase cryptocurrency directly with fiat you’ll need to submit ID documents. Top ... PrimeXBT Supports: BITCOIN. For the time, PrimeXBT only accepts bitcoin deposits ; The minimum deposit is .001 BTC; Withdrawals are easy and also supporting only BTC PRIMEXBT TRADING FEES 0.05% basic fee for all cryptocurrencies Overnight Funding Rates (Common for Long/Short Positions) BTC (0.04166% Daily Funding Rate) ETH (0.05555% Daily Funding Rate) LTC (0.06944% Daily Funding Rate) EOS (0 ... Any list of Bitcoin exchanges would be uncomplete without Coinbase, the world’s largest and one of the oldest Bitcoin exchanges out there. It was founded in 2011 by Brian Armstrong and Fred Ehrsam and launched its buying-Bitcoin-for-fiat-currency service in late 2012. Coinbase is based in San Francisco and at this moment also offers crypto-for-crypto exchange services, its own wallet, and a ... Best Bitcoin Exchange for Brazil. The inflation rate in Brazil, the ninth largest economy in the world, rose to its highest level in four years and attracted significantly more people to buy Bitcoin, as shown by the recent increase in BTC trading volumes. The relative strength of the US economy supports the value of its currency. The current annual US inflation rate is 1.6% and it has been below 4% in the past 20 years. Exchange USD to Bitcoin. Exchanging USD to bitcoin and selling bitcoin for USD is very easy on the cryptocurrency market. Almost all trading platforms offer the solution to trade ... The site has one of the largest ranges of supported assets, dwarfing Coinbase – which supports only Bitcoin, Ethereum and Litecoin – and even Poloniex, which supports around 100 coins. The only exchanges that beat Bittrex on the number of available coins are non-US-regulated options such as Cryptopia.
Lisk was able to raise an eyewatering 14,000 Bitcoin. Lisk is a fork of an earlier project called Crypti. This was a project that was founded by the current CEO and CTO of Lisk. Visit https://www.squarespace.com/LTT and use offer code LTT for 10% off Check out ORIGIN PC’s Gaming Desktops and Laptops, utilizing Samsung's 970 PRO NVMe ... Thanks for watching! For donations: Bitcoin - 1CpGMM8Ag8gNYL3FffusVqEBUvHyYenTP8 Get our free Bitcoin course here - https://chrisdunn.com/free-bitcoin-course This Bitcoin basics video series will explain Bitcoin for beginners. You'll lear... Also, Deutsche bank releases new survey taken from US, GB, China, Italy, France and Germany that states Bitcoin BTC to go through LIGHT YEARS of growth in a very short amount of time BUT CASH will ... What coins does the Trezor support? Bitcoin, Ethereum, Ethereum Classic, ZCash, LItecoin, Namecoin, Dogecoin, and Dash among other Ethere based coins. Category Best income work from home with "Amazon Affiliate Programme". 100% genuine. Zero Investment. The Website link of "Amazon Affiliate Programme" for laptop/mobi... Bitcoin is a cool new digital cyber-currency, but it's hard to know what to do with it. That's why iPayYou's new digital wallet and payment system with support for Amazon.com is a huge boon, the ... ----Sign up here and follow along to make your account---- https://paxful.com/?r=w3zYB29X2YW&track=BitcoinVendor1 This mini series will show you how to make ... Comment créer votre eWalet en quelques clicks. (profitez des bonus journaliers 0.65%) Comment acheter du Edinarcoin (EDR) sur une plateforme De la plateforme yobit transférer EDR sur wa...