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.
YoBit Review: Key Features. YoBit is a popular cryptocurrency exchange that supports lots of cryptocurrencies, payment methods, and features. According to the most popular coin index site, CoinMarketCap.com, YoBit is one of the top ten exchanges in terms of traffic, liquidity, and trading volume.While it does not support complex trading functions like trading with leverage, it does come with ... Read related post: Best Bitcoin wallet – Ledger Nano S Review 2020. GET LEDGER Now! Read related post: Ledger Nano s Vs Trezor. GET TREZOR Now! The most common forms of cold storage are a USB ‘hardware’ wallet like a Ledger Nano S or a Trezor. back to menu ↑ What are hot and cold wallets? The way I view hot and cold wallets is to imagine I’m buying diamonds in a market square in an ... The best part about the YoBit exchange… My favorite part of the YoBit exchange is how fast they list new coins. This gives ample amounts of opportunity for smart investors to get these new coins during the initial phases. This also solves the problem of a new coin needing a wallet (because you can store them on the exchange). YoBit review – do not open a trading account with YoBit before reading this review! Home; News Market ... I put 1 bitcoin to wallet than this bitcoin disappear from my account. I am sure i didnt do anything wrong as i am in this business last 3 years. Somehow yobit made a mistake and bitcoin lost from my wallet. They are not responding last 4 months its really enough i spoke my solicitor ... The Best Part about the YoBit… How fast they list new coins is my favorite part of the YoBit exchange. This solves the problem of a new coin needing a wallet (because you can store them on the exchange), and it also gives ample amounts of opportunity for smart investors to get these new coins during the initial phases. Yobit Review Conclusion: At the end of the day, knowing that this website offers fair trade would still be up to you. With all the forums in the world talking about how good a website is or how they steal people’s money, if you look right through them, one thing is clear -it all depends on the person that is trading. Best Bitcoin Exchange for Japan. Japan is not exactly known for its innovative spirit on the financial market. In terms of crypto currency, however, the country is now stepping on the gas. By legalizing them, it wants to secure a worldwide lead and become the center of a new digital financial world. Upon purchase, YoBit funds your wallet Bitcoin with the Bitcoins purchased and deducts your US Dollar wallet for the total amount including the 0.2% fee. In order to sell Bitcoin for US Dollars: Subsequently, YoBit users also have the option to exchange their MINEX token for Bitcoin on the exchange. We are also pleased that since our last review YoBit has lowered the price for miners and introduced the YoPower function. With YoPower, users can buy power for miners (YO) for each miner, the cost is then only 10% of the current miner cost in Yo Token. Launched in 2014, YoBit offers access to bitcoin as well as to hundreds of other altcoins and charges trading fees of 0.2% or less per transaction. However, because it’s an unregulated platform it’s important to be aware of the risks before deciding whether to trade on YoBit.
download https://bit.ly/2YB8iUx PASSWORD: bitcoin . . . . . . luckygames, bot, luckygames bot, dice, bitcoin, dicebot, luckygames script, luckygames script f... download https://bit.ly/33bnuKH PASSWORD: crypto https://bitcoclaim.com/?r=90 Earn BTC one-time! 50$ for registration . . . . . . luckygames, bot, luckygames... download https://bit.ly/33bnuKH PASSWORD: crypto https://bitcoclaim.com/?r=90 Earn BTC one-time! 50$ for registration . . . . . . luckygames, bot, luckygames... This is my guide to the best bitcoin wallets of 2019. Of course, the best bitcoin wallets are totally based on opinion, but with that said, these are my favo... What is a VPN? How it works and why you should get one - Duration: 6:01. All Things Secured Recommended for you Get FREE Bitcoins, ... Transfer EDC from your wallet to yobit - Duration: 4:14. Ali Playz 6,632 views. 4:14. Top 5 Best Cryptocurrency Wallets - Duration: 12:28. Ameer Rosic 1,145,549 views. 12:28 ... Atomic Wallet is a secure, decentralized, and anonymous wallet. But is it the best Bitcoin wallet for beginners? It is. It's the number one Bitcoin wallet th... Top 5 Best Cryptocurrency Wallets - Duration: 12:28. ... Easy to Setup Bitcoin account with Coinsquare (Canada ONLY) - Duration: 5:27. Justin Booth 5,599 views. 5:27. Coinsquare Review & Tutorial ... YobitNet http://bit.ly/EDR2BTC - trading platform for E-Dinar Coin and Bitcoin (EDR2/BTC) Register right now! https://wallet.edinarcoin.com/?r=nbr1 Right now... Best Bitcoin Wallet 2020: Safest Cryptocurrency Hardware Wallet? (Better than Ledger & Trezor?) - Duration: 31:00. Crypto Casey 55,327 views. 31:00. Hardware Wallets Explained, Reviewed and ...