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Tag: Syscoin

  • Syscoin (SYS) – Combining BTC and ETH

    Syscoin (SYS) – Combining BTC and ETH

    Syscoin (SYS) Platform is an all-in-one Layer-1 and Layer-2 blockchain solution that combines industry-proven technology with cutting-edge applications. The project’s purpose is to create a system that will revolutionize blockchain technology by combining the best of Bitcoin and Ethereum. Syscoin transforms Bitcoin’s Proof-of-Work security and decentralization into a workable and scalable solution through Bitcoin merge-mining.

    Layer-1 features of Syscoin (SYS) include unique Z-DAG technology for near-instant network transactions, ultra-low transaction costs, taproot, and a token platform, as well as compatibility with Bitcoin’s emerging Layer-2 improvements. Custom notary API, Fungible Tokens, NFTs, and Fractionalized NFTs are currently available on Syscoin’s token platform.

    A masternode network on the Syscoin (SYS) Platform provides a scalable service layer as well as increased security via ChainLocks. Building on the Syscoin Platform gives you access to Network Enhanced Smart Contracts (NEVM), which take the best of Ethereum and boosts its processing capacity to allow you to run bigger, more complicated programs with ultra-low fees.

    Price Movement – Syscoin 

    At the time of writing, SYS is being traded at the rate of $0.9429 with an increase of almost 10% within the last 24 hours.

    The low within this tenure was around $0.8474 and the high was approximately $1.04. The coin as being in the watchlist of many traders makes it rank all the way up to number 130th according to the latest data released by coin market cap.

    SYS made its all-time high in the month of January 2013 where it reached an enormous amount of $230. At the moment it has a daily volume of $69,105825. It has increased about 100% within the last 24 hours. The total supply of SYS is now around 888M and the circulating supply is also 626M. SYS has a dominance of 0.03%.

    Price Prediction – Syscoin (SYS)

    SYS has been one of the most unsuccessful and powerful coins. The people have gained a lot, but the price has been continuously decreasing since the start of the project. Traders are not bullish on the project. The price of SYS has retraced back and is around the same price it had around the month of March 2020. According to the wallet investor, SYS is a good investment but not a really great one. The price of the coin is to reach a value of $1.035 in a year. In five years, the price is expected to reach around $1.940.

  • Syscoin – Solving the blockchain trilemma

    Syscoin – Solving the blockchain trilemma

    As December began, Syscoin started gaining bullish pressures and skirted close to its all-time high of $0.98. The 52-week high was established at a price level of $0.89. Subsequently, the market began to correct itself as the cryptocurrency became highly volatile. At the time of writing, SYS token stands at a price level of $0.71. The price has increased by more than 6% during the past twenty-four hours while the daily trading volume has fallen by nearly 40% while the weekly performance shows a phenomenal growth of 30%. Syscoin currently stands at a market rank of #151 with a capitalization of around $439 million. 

    Syscoin’s solution – the NEVM 

    While a lot of projects are in competition with the king and queen of the market, Syscoin presents a unique proposition in the increasingly-crowded market. Instead of competing with the useful yet unique technologies of Bitcoin and Ethereum, the project is focused on combining the synergies of the king and queen of the market. It is a full-fledged layer-1 as well as layer-2 solution which combines the best of both BTC and ETH. 

    Syscoin’s aim is “the best of Bitcoin and Ethereum at one place”.  Major developments have been taking place in roadmap of the cryptocurrency as it vies for achieving its aim of providing the best of both worlds. During the past week, the project the successful completion of the first phase of its NEVM. The NEVM is the project’s BTC-secured Layer-1 for Ethereum virtual machine-based smart contracts. It is now deployed on the network’s mainnet, enabling users to enjoy the security offered by Bitcoins’ Proof-of-Work consensus along with the flexibility of Ethereum-style highly efficient smart contracts. 

    Through the NEVM, Syscoin is addressing the shortcomings of both Ethereum and Bitcoin. The merge-mining of the platform enables it to offer the security of BTC’s PoW but at the same time promoting environmental sustainability by being less energy intensive. The NEVM has also set up the stage for technological advancements in Ethereum’s virtual machine. It offers lower fees and higher scalability – proving to be advantageous for EVM-based projects. Moreover, this unique proposition is also solving the blockchain trilemma of security, decentralization and interoperability. 

    Future outlook 

    The project ranked #1 at LunarCrush in terms of social volume during the past twenty-four hours – suggesting that the cryptocurrencies may regain its bullish momentum as the community is highly active. According to the estimates of Wallet Investor, Syscoin is expected to be operating at a price level of $0.87 in a year’s time while the five-year projection places it at $1.69.