The first thing I wanna say about Syscoin is their website is a bit slow. Maybe it's just me, slow network, but I thought it was worth mentioning. The goal, according to their whitepaper, is to combine the best of both worlds (Ethereum and Bitcoin) to build a network on which you can buil Web 3.0 applications.
In plain English, from what I gather, they want to use the security of Bitcoin with the addition of scalable Smart Contracts. They aim to provide a trifecta of options: a token platform, a blockchain and a development platform. To me, it kinda sounds like they're trying to build a jack-of-all-trades platform that users can use for anything and everything but I'll be honest, I'm still not sure I understand its potential to its full extent so any help in the comments would be greatly appreciated.
At the time of writing, Syscoin has a circulating supply of 632+ bln SYS, equating to around 71% of the max supply, with a $535 mln market cap. The price is $0.855663 and it is available on a few minor exchanges as well as a few major exchanges such as Binance.
The reason I became interested in Syscoin is I've begun using one of those faucets/platforms - one of the few that vaguely make sense - and Syscoin is my favourite payout option. I won't be paying bills like this anytime soon but I expect to buy a few beers a week with the coins I make within a month and it's a great way to gain exposure to new assets, pretty much for free. Go check it out if you want, it's free.
I've crossposted this article on my blog bitcoinea and LeoFinance.
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It's a good time to take a look at an OG coin that's sticking around. Originally, the unique selling point of Syscoin was to create an on-chain market where you could sell both physical and digital objects. Since such a market doesn't need servers, it should be cheap and uncensorable (not anonymous like the darknet though). You could buy home-made red-pepper sauce and such. It never became popular, I think it was underestimated.
I haven't used SYS in a few years, but it's a serious project with decent technology. Syscoin was the second chain to implement SegWit, they were early to wrap BTC and other currencies on their network, and for better scaling, they restarted the chain once or twice while keeping all balances the same. Chris P. Thomson is writing a book about its history.
I guess after seeing Ethereum's success, everyone wanted to add smart contracts, apps and tokens. You're right, that's not the way to stand out in a crowded field.
It doesn't stand out at all, but I believe in fundamentals so I don't mind syscoin
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