What is Syscoin?
Syscoin or SYS is the native cryptocurrency powering the Syscoin network. The latter is an open-source protocol that enables the smooth and efficient creation of dApps through its dual-layered blockchain architecture.
SYS is based on the EIP-1559 standard. Syscoin Bridge enables a smooth transfer of Syscoins between both layers of the blockchain.
This native coin does not have a max cap. This means that the supply of Syscoins is unlimited.
Since SYS is a cryptocurrency, it's high in volatility. In order to make an informed purchase decision, you can check out the Syscoin price history or the current SYS price on the graph above.
What are the Main Features of Syscoin?
As discussed in the What is Syscoin section, Syscoin is an open-source blockchain network based on a dual-chain architecture. This means there are 2 blockchains - a NEVM-based blockchain and a Bitcoin-based blockchain. The latter is called Syscoin Core.
In addition to Masternodes, ZK-Rollups, Optimistic Rollups, and Validium, some of its core features include:
- DAOSYS - a Decentralized Autonomous Organization (DAO) with a governance-free treasury;
- NEVM stands Network-Enhanced Virtual Machine - Syscoin’s Ethereum Virtual Machine layer;
- Z-DAG - a protocol responsible for near-instant Syscoin Platform Token or SPT transactions;
- Notary Rulesets - a tool that allows SPT holders to set special parameters on SPT transactions. Moreover, it serves as a regulatory compliance solution that enables the use of non-Syscoin tokens on Syscoin’s public blockchain.
Syscoin operates using Bitcoin’s Proof-of-Work (PoW) consensus algorithm and a merged-mining model powered by Bitcoin.
Who Developed Syscoin?
The Syscoin crypto project was launched in 2014 by Blockchain Foundry. In 2019, it started being managed by the Syscoin Foundation consisting of 5 members:
- Jag Sidhu - the president of Syscoin Foundation and lead developer of Syscoin;
- Michiel - the vice president of Syscoin Foundation and project manager at Syscoin;
- Willy Ko - the treasurer of Syscoin Foundation and developer at Syscoin;
- Chris - Syscoin Foundation board member responsible for marketing and relations;
- Bradley - Syscoin Foundation board member responsible for marketing and social media.
Since its inception in 2014, Syscoin has signed partnerships with Microsoft Azure, Binance, Komodo, TrustToken, and many other projects.
