Syscoin Coin is the native token of the Syscoin Platform, offering reliable interoperability, token, asset micro-transfers, and <a href="https://en.coin-turk.com/crypto-market-outlook-insights-from-industry-leaders/”>Bitcoin-core compatible security. The platform is noted for its scalability and capability to operate with any Ethereum standard ERC-20 token without the need for second or third-party liquidity providers.
It also employs the SHA-256 merge-mined proof-of-work algorithm, which allows it to be mined using the energy expended for Bitcoin mining. The Syscoin Platform uses a masternode network as a scalable service layer.
What is Syscoin (SYS)?
Syscoin (SYS) is the cryptocurrency of the Syscoin platform, serving in the asset and token space. Users can empower their ICOs or other projects by transacting on the decentralized Syscoin network through the Z-DAG Protocol. Assets become globally applicable, and users can benefit from the real-world advantages of Syscoin Platform Tokens.
The benefits of the Syscoin Platform Token are listed as follows:
- Easy to create
- Fast transactions
- Very low-cost transactions
- Numerous use cases
- Ethereum operations can be performed using Syscoin Bridge
Moreover, Syscoin is merged-mined with Bitcoin, ensuring the unparalleled security and robustness of the Bitcoin network. This, according to statements, offers Syscoin owners the security of Bitcoin’s Proof-of-Work with the speed of Syscoin. Unlike some cryptocurrencies, merge mining provides Syscoin with network reliability and the immense hashing power foundational to Bitcoin. Syscoin Platform Tokens (SPT) created in Syscoin also benefit from this security.
Additionally, the Z-DAG Protocol allows nearly real-time sending and receiving of tokens. An optimized network scales to meet high traffic demands that normally congest or halt other blockchain networks. All these combine the reliability and security of decentralization while also offering, according to the platform, one of the lowest transaction fees in the Blockchain field.
Use cases for Syscoin Platform tokens include securities, utility tokens, certificates, loyalty rewards, point of sale, and rewards.
Furthermore, SP Tokens using a two-way bridge can be seamlessly converted into Ethereum ERC-20 tokens without affecting the maximum total supply. This allows users’ tokens to access functionalities of Ethereum-based Smart Contracts within the Syscoin Platform. It also enables ERC-20 token holders to benefit from Syscoin technologies like Z-DAG.
SYS Coin Reviews
Looking at SYS Coin reviews, it appears that users generally utilize Syscoin (SYS) for medium and long-term investments. Additionally, it is believed that the SYScoin platform will strengthen the token in the long run.
Despite concerns among investors due to recent declines in SYS coin’s value, it is observed that investors are hopeful about Syscoin within a year. To better assess the comments of investors and analysts, examining current and historical figures will be beneficial.
At the time of this article’s preparation, Syscoin (SYS) is trading at 0.0564 USD, with a market cap of 34,072,831 USD according to CoinMarketCap, ranking it 184th in terms of market value. It’s also worth noting that the SYS coin is trading against Bitcoin at 0.00000318 BTC in the SYS-BTC trading pair.
Additionally, Syscoin hit a record high of 0.9814 USD on January 14, 2018, and a record low of 0.00019 USD on February 22, 2015. It’s also beneficial to mention that there are currently 602,032,742 SYS coins in circulation, with the total number reaching 888,000,000 SYS coins.
How to Buy Syscoin Coin?
Syscoin coin can be securely and quickly purchased through Binance, the largest cryptocurrency trading platform by market cap.