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What Is SysCoin ?
Syscoin is a cryptocurrency and more importantly a blockchain-based decentralized marketplace where individual users and companies can buy/sell goods directly without the need of involvement of a middleman in between. These e-commerce activities are supported by automatically executable programs called smart contracts that are built into the Syscoin’s revolutionary blockchain. Users can use these automated contracts to trade goods, assets, digital certificates and data on the Syscoin.
The new platform comes with a new wallet that you can use to store or send/receive Syscoins. The entire marketplace and ecosystem is also built into its wallet and that makes everything easier and efficient. The blockchain-based marketplace is one of the many new decentralized marketplaces that are being launched either on the Ethereum blockchain or their own individual blockchains. Syscoin came into limelight in recent times when it struck a strategic partnership with Microsoft Azure, a deal that would make its offerings available on the widely popular Azure cloud platform. Now cryptocurrencies and blockchain-based startups usually struggle to get recognition from mainstream companies and that has been a part of the problem but this is a good step towards reconciliation as blockchain and cryptocurrencies are the future of the developments in tech. Syscoin is also working hard to make the whole platform extremely easy to use. Dan Wasyluk, one of the founders of syscoin says that they are committed to making the whole platform so easy to use that “even your grandmother could use it”. This approach will increase worldwide appeal of Syscoin’s wallet and decentralized marketplace.
Sebastian Schepis-Creator and core developer who came up with the idea of Syscoin
Dan Wasyluk- Team manager and Dev.
Chris Marsh-Business Development Manager
Sebastien Dimichele-Community Manager
Jagdee Sidhu- Developer
Janetter Baker- Marketing and Social Media
Syscoin is a very important step towards introducing a blockchain-based marketplace that works for all. Its interface is easy-to-use and the wallet is incredibly useful. So, Syscoin, even if doesn’t work on its own has a role to play in the future development of a working decentralized marketplace that will make trading easier.
In wallet mining of Syscoin is not available but you can merge mine it with bitcoin meaning if you mine bitcoin, you are likely to get Syscoin too sporadically. Currently, mining is not profitable because of merge-mining with bitcoin but in November 2017, major upgrades are expected.
Notes for Investors
The Syscoin is a relatively stable coin but it enjoys occasional leaps followed by correction too. It is certainly a coin for the long-term because it is on an independent blockchain and its parent company the Blockchain Foundry does all kinds of amazing research and development that they apply on the new coin. Its wallet, updates and marketplace are evident of the long-term planning and development of the company. In the Syscoin network, delivering more value to the network by working on it is considered more necessary than creating a hyperbole just through trading.