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About Syscoin(SYS)
What is Syscoin (SYS)?
Syscoin (SYS) was developed as a fork of Bitcoin in 2014. It combines the best features of Bitcoin (BTC) and Ethereum (ETH). The blockchain network uses Bitcoin's Proof of Work (PoW) consensus algorithm for security and immutability and Ethereum Virtual Machine (EVM) for smart contract functionality. Syscoin is designed to support the future of smart contracts within Metaverse, IoT, Smart Cities, and future interplanetary economies. Its roadmap includes implementation of ZK-Rollups, Optimistic Rollups, Validium, and DAOSYS, which is a new kind of DAO that aims to provide governance-free treasury management and self-sovereignty for all participants. Syscoin envisions societies with extraordinary levels of financial inclusion and worlds in which every person and business has freedom to benefit from Web3 and beyond. It aims to bring the capabilities of Ethereum and Satoshi Nakamoto's initial concept for Bitcoin to Syscoin to open up new possibilities for a decentralized future.
Who are the Founders of Syscoin (SYS)?
Sebastian Schepis, who co-founded the company that developed the Oracle Project Manager, created Syscoin back in 2014. After the success of the Project Manager, Sebastian has consulted for several large corporations including Bank of America, General Dynamics, Verizon Wireless, and Lockheed-Martin.
The Syscoin project is now being led by a team of experts in the blockchain field, with Jagdeep Sidhu serving as the Foundation President and Lead Developer, and Michiel Näring as the Syscoin Foundation Vice President.
How does Syscoin (SYS) Work?
It's interesting to note that Syscoin has its own version of EVM called the Network Enhanced Virtual Machine (NEVM). This NEVM enables support for Ethereum-compatible smart contracts and rollups on the Syscoin network, giving developers the flexibility to deploy secure and decentralized Web3 apps on Syscoin. Additionally, Syscoin also offers other layer-2 solutions like Z-DAG and the Syscoin Bridge, which help to improve scalability, interoperability, and overall performance.
What makes Syscoin (SYS) Unique?
Syscoin is a unique cryptocurrency that combines the best features of Bitcoin and Ethereum on a single platform. The protocol is based on Bitcoin's PoW model and allows merged mining with Bitcoin, which means that miners can mine both BTC and Syscoin simultaneously at no extra cost. This makes Syscoin's DeFi safer and eliminates the risks of 51% attacks and long-range miner extractable value attacks that Ethereum is susceptible to. Syscoin also retains proven Nakamoto consensus and Proof of Work.
Additionally, the network utilizes a network of masternodes as a scalable service layer through ChainLocks. Syscoin's UTXO Token Platform is a scalable payment channel that allows users to send and receive tokens with low fees instantly, powered by the Z-DAG Protocol.
Syscoin is a dual-chain architecture with a rollup-centric design. It consists of an Ethereum-based blockchain called Network Enhanced Virtual Machine (NEVM) and a Bitcoin-based blockchain called Syscoin Core. Syscoin Core has an asset layer supporting both fungible and non-fungible tokens, taproot, a proprietary DAG protocol called Z-DAG, and more. Both blockchains utilize the same supply of the native coin SYS, which is based on EIP-1559. SYS owners can transfer SYS between both chains via the trustless and permissionless Syscoin Bridge, which uses a 2-way peg mechanism.
For compliance, Syscoin provides Notary, an opt-in solution that enables enterprises to utilize Syscoin's public blockchain for their tokens while ensuring regulatory pre-compliance for individual transactions. Asset owners retain self-custody, providing the necessary technical groundwork for a future in which securities and stocks can participate in DeFi on a public blockchain alongside other tokens.
What is the SYS Token?
The Syscoin platform operates using its native token, SYS. Unlike Ethereum, SYS does not have a capped maximum supply and follows the tokenomics of Ethereum's EIP-1559 proposal.
Conclusion
Syscoin offers an unique cryptocurrency that has the potential for a wide range of use cases. Its array of features and benefits make it an appealing choice for those interested in cryptocurrency trading or asset management.
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Crypto calculatorHow to buy Syscoin(SYS)
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Trade SYS perpetual futures
After having successfully signed up on Bitget and purchased USDT or SYS tokens, you can start trading derivatives, including SYS futures and margin trading to increase your income.
The current price of SYS is $0.1044, with a 24h price change of +6.24%. Traders can profit by either going long or short onSYS futures.
Join SYS copy trading by following elite traders.
Syscoin news
See more![Unexpected Altcoin Soars by 35% Daily Following Support From Binance: Details](https://img.bitgetimg.com/multiLang/image/social/f675c8bb04c84aad14e5f3e39646883c1724933754696.jpg)
Here’s the latest perpetual contract offered on Binance Futures.
![Top Crypto Gainers Today Aug 20 – Syscoin, Qtum, Immutable X, Nervos Network](https://img.bitgetimg.com/multiLang/image/social/c1a6b678404551abcda953b32e82c5931724169826642.png)
![Is It Too Late To Buy SYS? Syscoin Price Skyrockets 116% In A Week And This Might Be The Next Crypto To Explode](https://img.bitgetimg.com/multiLang/image/social/e60134e0f11c0ddc23d023e5e2f1f6ab1724153446675.png)
Bitget launched SYSUSDT futures on August 20 , 2024 (UTC) with a maximum leverage of 50x. Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. SYSUSDT-M perpetual futures: Parameters Details Listing time August 20, 2024 10:00 (UTC) Underlying asset SYS Settlement
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Syscoin Social Data
In the last 24 hours, the social media sentiment score for Syscoin was 2.8, and the social media sentiment towards Syscoin price trend was Neutral. The overall Syscoin social media score was 667, which ranks 412 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Syscoin being mentioned with a frequency ratio of 0.04%, ranking 77 among all cryptocurrencies.
In the last 24 hours, there were a total of 542 unique users discussing Syscoin, with a total of Syscoin mentions of 432. However, compared to the previous 24-hour period, the number of unique users increase by 9%, and the total number of mentions has decrease by 28%.
On Twitter, there were a total of 4 tweets mentioning Syscoin in the last 24 hours. Among them, 25% are bullish on Syscoin, 25% are bearish on Syscoin, and 50% are neutral on Syscoin.
On Reddit, there were 39 posts mentioning Syscoin in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 38% .
All social overview
2.8