Syscoin (SYS) Achieves Market Capitalization of $131.91 Million

() rose 4% in value against the dollar over the 24 hour period ending at 23.30 ET on the 16th of April. On major exchanges, one Syscoin coin is now available for $0.18 (or 0.00000583 BTC). In the past week, Syscoin traded 2.3% higher than the dollar. Syscoin's market capitalization is $131.91 millions and the exchanges have traded $2.92 Million worth of Syscoin in the past day.

See how similar cryptocurrencies performed in the past day.

Bitcoin (BTC), which is currently valued at $30,000,253, or 1.00000000 BTC, has fallen by 0.8% in value against the US dollar.

Bitcoin Cash (BCH), which is also known as Bitcoin, has traded up by 0.9% in relation to the dollar. It now trades for $133.43, or 0.00444657 BTC.

Bitcoin SV (BSV), which is currently trading at $36.69, or 0.00122263 BTC, has traded down 0.2% against the dollar.

eCash, or XEC, is currently trading at $0.0000 (0.00000000 BTC) and has fallen 0% in value against the dollar.

Arweave (AR), which is currently trading at $9.21, or 0.00030705 BTC, has gained 0.3% in value against the dollar.

It is a Proof-of-Work (PoW), coin that uses SHA-256 as its hashing algorithm. Its genesis was 16th August 2014. The total supply of Syscoin is 753,571,731 coin. The official Syscoin website is
syscoin.org
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CryptoCompare states that 'Syscoin, a smart contract technology, supports a cutting edge Web 3.0 eco-system with ultra-low fees. It also provides decentralized Layer-1 Security and Layer-2 Scalability, which allows for economies of size via Rollups. Syscoin was designed to support future smart contracts in Metaverse, IoT and Smart Cities. Syscoin’s roadmap includes implementations of ZK Rollups and Optimistic rollups as well as Validium and DAOSYS, which is a DAO designed to offer governance-free treasury and self-sovereignty to all participants.

Syscoin secures transactions using Bitcoin's Proof of Work, and the network of Bitcoin miners via merged-mining. Syscoin provides Finality as chainlocks, which are supported by quorums (masternodes) of full nodes that have been incentivized. This Finality allows for a safer Defi by eliminating the risk of 51% attacks, long-range miner extractable values (MEV) attacks, and other Ethereum vulnerabilities.

Syscoin has a dual-chain design with a rollup centric approach. The first is an Ethereum-based Blockchain called Network Enhanced Virtual Machine, released on December 6, 2021. This blockchain is 100% compatible to any smart contracts and Rollups created for Ethereum. The other blockchain is Syscoin Main or Syscoin Main. This is a Bitcoin blockchain that has an asset layer which supports both Fungible Tokens and Non-Fungible Tokens. It also includes taproot and a proprietary DAG called Z-DAG. Syscoin's overall design allows users and developers alike to take advantage of the strengths and synergies that each model offers. These two blockchains use the same native coin, SYS. This coin is based off EIP-1559. Owners of SYS can transfer their SYS to both chains using the Syscoin Bridge, which is permissionless and trustless. It uses a two-way peg mechanism.

The project has a broad scope and provides novel solutions for many industry-wide issues, such as regulatory compliance. Syscoin offers Notary as a solution for compliance. It allows enterprises to use Syscoin’s public blockchain while maintaining regulatory pre-compliance. Asset owners can retain their self-custody. This provides the technical foundation for a future where securities and stocks will be able to participate in Defi, on a blockchain public alongside other tokens.

Syscoin Coin Trading

Currently, it is not possible to buy alternative cryptocurrencies like Syscoin using U.S. Dollars. Investors who want to trade Syscoin first need to purchase Bitcoin or Ethereum on an exchange dealing in U.S. Dollars such as GDAX or Changelly. MarketBeat.com’s FREE CryptoBeat Newsletter
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