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What is Syscoin ?

Syscoin presentation


Syscoin is a blockchain protocol with powerful features that make it easy to create safe and inexpensive applications with the security and strength of Bitcoin.

The platform is particularly suitable for the following applications :
• Decentralized Marketplaces and e-commerce
• Micro-transactions and in-game assets
• Digital Assets with Certificate
• Inventory management and tracking

characteristic of the syscoin MASTERNODE



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Which are the functionalities of Syscoin ?


The Syscoin platform offers multiple functionalities which allow the user to make his projects grow as his company develops. We present to you in the continuation of this article, the characteristics of the Syscoin platform.


High transaction throughput


Syscoin has one of the highest transaction rates per second (TPS) in the blockchain universe, while remaining decentralized and secure. Using Z-DAG (Zero Confirmation Directed Acyclic Graph) and the masternodes network of Syscoin, the current TPS rate for Syscoin assets, bids and certificates has been independently verified at 60158 TPS - giving the Syscoin platform a significant advantage over other blockchain protocols.


Create your own tokens


Syscoin Platform Tokens (SPT) allow anyone to quickly create their own cryptographic token on the Syscoin platform. An example of SPT is LODE, a new cryptographic currency system supported by physical money. Other use cases include loyalty points, coins backed by physical assets, and currency backed by services.


Interoperability


Dozens of new blockchain projects see the light of day every year. Except that all these blockchains are autonomous and disconnected from each other. Although the projects are based on the same technology, they cannot natively exchange information.

In the blockchain domain, interoperability is the possibility of exchanging information in a transparent manner between blockchains, as if there were no borders. Overcoming the barriers to interoperability is key to achieving mass adoption of blockchain, because no company would accept to process payments on blockchains that are sealed from each other.

With Syscoin Bridge, interoperability is simplified. Syscoin 4.0 introduces a bi-directional bridge, the first of its kind, to Ethereum. This allows Ethereum developers to move ERC20 tokens between the Ethereum network and Syscoin Platfom, where they can use the scalability and high transaction throughput that Syscoin offers. The gateway makes it possible to maintain a presence on both the Syscoin network and the Ethereum network.

Conversely, Syscoin developers can transfer a Syscoin Platform Token (SPT) into an equivalent user-generated ERC20 coupled token, where they can exploit Ethereum's powerful features such as smart contracts. Eventually, developers will be able to bridge to other blockchains as needed, providing optimal versatility, diversity and interoperability in the cryptosphere.

High security


Syscoin is merged with Bitcoin, which means that Bitcoin miners can operate Bitcoin and Syscoin simultaneously without any increase in cost. This gives Syscoin a robust and secure network and reduces network vulnerabilities that could allow exploits such as a 51% attack.


Low fees


The transaction costs of tokens or assets on the Syscoin platform are very low, making them suitable for a wide range of use cases such as point-of-sale transactions. Indeed, the transfer of funds or ownership of a token uses the Z-DAG protocol, enabling near real-time transactions, making it the ideal choice for a retail environment.

Syscoin Masternodes


The Syscoin masternodes were launched and implemented at the same time as Syscoin 3.0 in May 2018. Based on the Dash code, Syscoin has enhanced the masternodes to offer high transactional throughput using Z-DAG, access to governance, and bonus rewards based on node seniority.

At Just Mining, we offer you the opportunity to operate an integral node or to take part in a shared node.




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Published by Just Mining on 07/09/2020
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