Buy Syscoin (SYS)
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.
Related Assets
Resources
Learn More About Syscoin
Frequently Asked Questions (FAQs)
What is the current price of Syscoin (SYS)?
The Syscoin price is $0.17190927 AUD, representing a -5.97% from the day prior.
Where is the best place to buy Syscoin (SYS) in Australia?
The best place to buy Syscoin (SYS) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Syscoin (SYS) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Syscoin (SYS)?
The trading volume of Syscoin (SYS) is $7.1M AUD in the last 24hrs, representing a -5.97% from the day prior.
How can I buy Syscoin (SYS)?
Syscoin (SYS) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Syscoin (SYS)?
The current market cap of Syscoin (SYS) is $137.0M AUD.
Can I convert Syscoin (SYS) to cash?
Yes - With Coinstash you can convert your Syscoin (SYS) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Syscoin (SYS) are there?
The current circulating supply of Syscoin (SYS) is 801.7M.
Is Coinstash a safe place to buy Syscoin (SYS) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Syscoin (SYS) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.