### What is Syscoin?
Syscoin is a decentralized and open-source blockchain platform that combines the security of Bitcoin’s Proof of Work (PoW) with the functionality of Ethereum-based smart contracts through EVM (Ethereum Virtual Machine) capabilities. It is designed to offer a scalable decentralized network that supports a variety of blockchain applications, providing enterprises with a secure and interoperable platform.

### How does Syscoin work?
Syscoin operates with a dual-chain architecture, which includes a UTXO chain for Bitcoin-like transactions and an NEVM chain for EVM-compatible smart contracts. It uses Bitcoin's PoW mining method, merging with Bitcoin to leverage its security and hashrate. Syscoin employs technologies like Z-DAG for instant transactions, and features Sentry nodes and the ChainLocks mechanism to ensure security and network finality. It supports a tokenization layer for custom tokens and has introduced Rollux, an L2 solution for transaction efficiency.

### What are the potential use cases for Syscoin?
Syscoin's versatile platform allows for a variety of use cases, such as:
- Supply chain management, for tracking and tracing products.
- Decentralized finance (DeFi), enabling lending, borrowing, and decentralized exchange functionalities.
- Non-Fungible Tokens (NFTs), supporting the creation and management of digital assets.
- IoT applications and smart city infrastructure, benefiting from Syscoin’s scalability.
- Gaming and other decentralized applications leveraging its high throughput and low transaction fees.

### What is the history of Syscoin?
Syscoin was founded in 2014 by Sebastian Schepis, with its initial release based on Litecoin. Major developments include Syscoin 2.0 in 2016, which introduced the graphical user interface and merged mining with Bitcoin, and Syscoin 3.0 in 2018, which introduced masternodes and the Z-DAG protocol. In 2023, Syscoin launched Rollux, a complete EVM Layer 2 rollup solution. The platform has continuously evolved, forming partnerships with notable organizations and expanding its ecosystem through SYS Labs and other initiatives, demonstrating a commitment to innovation and security in the blockchain space.

Syscoin (SYS)

Similar Coins

RVN

SDEX

COT

MYB

Resources

Syscoin (SYS) Price Index

Syscoin Price

Trading volume

Market cap

Resources