Syscoin

Syscoin was launched in 2014 by Sebastian Schepis, who co-founded the company responsible for developing the Oracle Project Manager, an enterprise management system. After Project Manager's success, Sebastian provided consultancy services to major corporations such as Lockheed-Martin, Bank of America, General Dynamics, and Verizon Wireless, among others.

Currently, Syscoin operates as an open source initiative under the guidance of the non-profit Syscoin Foundation. Key board members include Jagdeep Sidhu, the Foundation President and Lead Developer, and Michiel Närring, who serves as the Vice President.

SYS Labs, a company, oversees the creation of leading applications and systems on Syscoin, including Rollux (OPStack L2), SuperDapp, Pegasys DAO (DEX), and Luxy (NFT marketplace).

Syscoin stands out for its capability to integrate the most robust features of Bitcoin and Ethereum onto a unified platform. Its layer 1 consensus is anchored on Bitcoin's SHA-256 Proof-of-Work model, allowing for merged mining with Bitcoin. This means miners can mine BTC and SYS simultaneously without additional expenses. Typically, more than half of Bitcoin's hashrate also works on mining Syscoin, supported by large Bitcoin mining pools. Syscoin enhances decentralized finality atop Nakamoto consensus, mitigating the usual 51% attack risks linked with PoW, while maintaining the proven Nakamoto consensus model. Additionally, Syscoin is a modular layer 1 system that facilitates optimistic and ZK rollups, providing a censorship-resistant, low-cost data availability service called PoDA. The initial layer 2 on Syscoin is Rollux, an Optimism fork that launched on June 28, 2023, offering an EVM-equivalent optimistic rollup developed by SYS Labs. The Rollux ecosystem is central to Syscoin's growth strategy, offering scalability through a quick, cost-friendly user experience.

In essence, Syscoin’s technology currently offers what Ethereum plans to deliver in the future, including data availability, while preserving Bitcoin's Proof-of-Work model.

The network employs incentivized full nodes, or masternodes, to achieve multi-quorum chainlocks for finality. To learn more about running a Syscoin masternode, including incentives and requirements, visit sysnode.info.

Regarding Syscoin's layer 1 framework, it features a dual-chain with a modular (rollup-focused) setup. This includes the Network Enhanced Virtual Machine (NEVM), an Ethereum-based blockchain released on December 6, 2021, compatible with any Ethereum smart contracts or rollups. The other is Syscoin UTXO or "Syscoin Native," a Bitcoin-based blockchain supporting taproot, data availability, a token platform embracing ordinals and both fungible and non-fungible tokens, a proprietary DAG protocol known as Z-DAG, and more. This architecture empowers users and developers to harness the benefits of Bitcoin and Ethereum's "gold standard" models, creating new synergies like PoDA where suitable. Both Syscoin blockchains and Rollux use SYS as their native coin, a utility-focused token based on EIP-1559. SYS holders can move SYS between these chains using the Syscoin Bridge and the Rollux Portal.

Syscoin (SYS), the native cryptocurrency of the Syscoin network, follows the Ethereum EIP-1559 proposal for its tokenomics and doesn't have a capped maximum supply. Its supply is determined by protocol emissions and the deflationary burning of transaction fees. As of the latest update, there were 751,391,717 SYS in circulation.

Syscoin can be bought and traded on various cryptocurrency exchanges such as Binance, MEXC Global, KuCoin, Bitmart, Huobi, and Gate.io.

To monitor SYS prices in real-time, download the CMC mobile app.