Syscoin (SYS) Achieves Market Cap of $92.61 Million

Syscoin (SYS) traded up 0.1% against the U.S. dollar during the one day period ending at 23:00 PM E.T. on May 26th. In the last seven days, Syscoin has traded up 3% against the U.S. dollar. One Syscoin coin can now be purchased for about $0.12 or 0.00000460 BTC on popular exchanges. Syscoin has a total market cap of $92.61 million and approximately $1.36 million worth of Syscoin was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed in the last day:

• Bitcoin (BTC) traded 1.3% higher against the dollar and now trades at $26,772.88 or 1.00000000 BTC.
• Bitcoin Cash (BCH) traded up 0.9% against the dollar and now trades at $113.47 or 0.00423766 BTC.
• Bitcoin SV (BSV) traded 1.9% higher against the dollar and now trades at $32.65 or 0.00121925 BTC.
• eCash (XEC) traded up 1% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Arweave (AR) traded up 2.5% against the dollar and now trades at $6.73 or 0.00025115 BTC.

Syscoin Coin Profile

Syscoin (CRYPTO:SYS) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It launched on August 16th, 2014. Syscoin’s total supply is 751,391,717 coins. Syscoin’s official Twitter account is @syscoin and its Facebook page is accessible here. The official website for Syscoin is syscoin.org. The Reddit community for Syscoin is https://reddit.com/r/syscoin and the currency’s Github account can be viewed here. Syscoin’s official message board is syscoin.org/news.

According to CryptoCompare, “Syscoin is a smart contract platform that supports a cutting-edge Web 3.0 ecosystem with ultra-low fees, decentralized Layer-1 security and Layer-2 scalability that provides for economies of scale via Rollups. Syscoin is designed to support the future of smart contracts within Metaverse, IoT, Smart Cities, and future interplanetary economies. Syscoin’s roadmap includes implementation of ZK-Rollups, Optimistic Rollups, Validium, and DAOSYS which is a new kind of DAO that aims to provide governance-free treasury management and self-sovereignty for all participants.

Syscoin benefits smart contracts and Rollups by securing transactions with Bitcoin’s own Proof of Work and Bitcoin’s network of miners through merged-mining. Syscoin also provides Finality in the form of chainlocks which are served by quorums of incentivized full nodes (masternodes). This Finality provides for safer Defi, effectively eliminating the risks of 51% attacks and long range miner extractable value (MEV attacks) that Ethereum remains susceptible to, while also retaining proven Nakamoto consensus and Proof of Work.

Syscoin is a dual-chain architecture with a rollup-centric design. This consists of an Ethereum-based blockchain called Network Enhanced Virtual Machine (NEVM), released December 6, 2021, which is 100% compatible with any smart contracts or Rollups built for Ethereum. The other blockchain is called Syscoin Core or Syscoin Main. It is a Bitcoin-based blockchain with an asset layer supporting both Fungible and Non-Fungible tokens, taproot, a proprietary DAG protocol called Z-DAG, and more. The overall design enables users and developers to leverage the strengths of each “gold standard” model and Syscoin creates new synergies between them where appropriate. Both of these blockchains utilize the same supply of the native coin SYS which is based on EIP-1559. SYS owners can transfer SYS between both chains via the trustless and permissionless Syscoin Bridge which uses a 2-way peg mechanism.

The project is broad in scope and offers novel solutions to numerous industry-wide challenges, including regulatory compliance. For compliance, Syscoin provides Notary, an opt-in solution that enables enterprises to utilize Syscoin’s public blockchain for their tokens while ensuring regulatory pre-compliance for individual transactions while asset owners retain self-custody. This provides the necessary technical groundwork for a future in which securities and stocks can participate in Defi on a public blockchain alongside other tokens.”

Syscoin Coin Trading

It is usually not possible to buy alternative cryptocurrencies such as Syscoin directly using US dollars. Investors seeking to trade Syscoin should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Syscoin using one of the exchanges listed above.

SYS/USD price chart by TradingView