Bitcoin is the pioneer of cryptocurrencies. Satoshi Nakamoto created a revolutionary technology is 2014 which has the potential to transform life as we know it. However, with passing time, issues and shortcomings with the project become evident. As it is the first-ever cryptocurrency to be created, the technology is far from perfect. Moreover, as more and more cryptocurrency launched – experimenting with the blockchain technology – newer developments and technological advancements emerged.
There are a lot of altcoins that focus on the technology of Bitcoin as Bitcoin continues to be the market leader of cryptocurrencies. Syscoin is one such project. The cryptocurrency is a hard fork of Bitcoin and is also merge-mined with BTC.
What is Syscoin?
Syscoin is a complete blockchain ecosystem. It is a distributed ledger, global network, decentralized database, and blockchain. The project provides a full-stack network for the crypto market. The development team regards to be fulfilling the original mission of Bitcoin through Syscoin. The project also combines the smart contracts of Ethereum with Bitcoin’s network to create something unparalleled.
Syscoin develops on the technology of Bitcoin in a way that creates one of the most scalable, secure and stable networks to have ever existed in the market. The project provides almost free transactions with lightning-fast speed while allowing businesses to transfer data and assets with top-notch security. Syscoin has one of the highest transaction processing rates in the whole crypto market. It also focuses on interoperability with the Syscoin Bridges.
The use cases of Syscoin are unlimited because of its multitude of features and unique functionalities. The project is particularly geared towards the creation of decentralized marketplace and e-commerce platforms. A lot of its features are also specifically curated for enterprises. Micro-transactions & in-game transactions, trade of certified digital assets, and inventory management & tracking are some of the use cases of the project. The platform also makes token creation an easy and seamless process with various good tokens operating on the network as of now.
The Syscoin project has not reached its full potential yet and when that happens, the cryptocurrency is expected to reach new heights. The team recently launched the Syscoin smart contracts live public testnet. The smart contracts are being tested publicly by the community to ensure there aren’t any problems. The development team has also revealed an ambitious roadmap with many activities planned.
The team plans to add 2.5 minutes finality by the end of the year. For the next year, zkRollups and update Validium are in the works. At the time of writing, Syscoin stands at a price level of $0.42 with the price surging.