What is Syscoin?
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.
Syscoin 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 with 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!
This process also makes it possible for Syscoin to add features to and evolve the specification of Syscoin Identities without forking the network.Syscoin Identities aims to store identity information off-chain with a blockchain anchor, which makes it possible for users to store a greater amount of identity information without slowing down the chain.
Syscoin plans on developing their Identities solution in parallel with specifications outlined by the Decentralized Identity Foundation.
By proactively adjusting to the constantly-changing KYC and AML requirements placed upon blockchain networks— especially with regards to crypto/fiat transactions — Syscoin is displaying a keen sensitivity towards regulated markets.
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Key Features of Syscoin
- Decentralized Marketplace with unlimited inventory items
- Near-zero cost transactions
- Aliases: Send coins to case-insensitive names without needing to plug in lengthy wallet addresses (e.g. “TheFlowerShop”).
- Ability to resell other people’s products in your store or allow your products to be resold by others for a commission
- Encrypted messaging with email-like inbox/outbox to communicate with people on the Syscoin network
- Escrow service: holds a buyer’s tokens in escrow “until the terms of the sale are met and the buyer releases payment to the seller”.
- Digital certificates: Issue, authorize, authenticate and exchange digital assets that contain private information like gift cards codes or registry keys.
- No downtime: Unlike markets such as OpenBazzar in which users need to leave their computers open to keep listings up, the Blockmarket guarantees 100% uptime.
- Integrated exchange: user-friendly exchange of 32 cryptocurrencies with in-wallet exchanges Changelly and Flypme.
The man who created Bitcoins: Satoshi Nakamoto. Click here to know more.
Syscoin’s blockchain delivers faster speeds along with lower transaction fees than its predecessor, Bitcoin. It can support 750 tps, and with the upcoming masternode release, it will support more than 300,000 tps. For now, it’s one of the cheapest cryptocurrencies regarding transaction fees (behind zero-fee transaction cryptocurrencies NEO and NANO), even cheaper than Ripple.
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Buy Syscoin (SYS) India
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