On August 2014, the cryptocurrency world yet again welcomed another digital token the Syscoin. Earlier this year Syscoin was ranked 45th place in the Coingecko. It had a market capitalization of 722 BTC for 1 coin. On April 2015, the Syscoin development team joined a single network, the SuperNET to build the most innovative, decentralized solutions. SuperNET is the same as the internet for websites and it offers other services on the platform such as Web hosting and other services.
What is Syscoin?
Syscoin is a global network, a decentralized database, a distributed ledger and a Blockchain. It is also an altcoin, a cryptocurrency, a tradable token and a digital currency that can be used for purchases and trading in the cryptocurrency market. The platform is merge-mined with Bitcoin and based on the Bitcoin protocol fork giving users one of the stable, scalable and most secure networks to ever exist. The Fork log attention attracted its speculative potential.
Syscoin is a revolutionary cryptocurrency offering incredible speed, zero cost financial transactions and provides business the infrastructure to trade data, digital certificates, goods and assets securely. Their first projects completed their original vision of including marketplace on the blockchain. They did not stop there, they have the ability to attract various types of business thanks to its native features that are geared towards on the blockchain. High street shops, eBay traders, insurance, medical applications and gaming benefits from the Syscoin’s decentralized network.
Issue of certificates
Syscoin also allows people to register as publishers and produce unique and authenticated through proof-of-work secure certificates. The functionality allows users to create exchanges for various types of digital assets such as stocks, warranties, tickets, diplomas, software licensing, recipes, certificates of ownership and stock markets.
Digital data sharing
Users on Syscoin can share discrete data directly in the blockchain. The discrete data can be contracts, wills, share, trusts and other documents. The documents can also be created, negotiated and transmitted on the Syscoin without the need for third-party authentication. Syscoin performs the functions of the third party, in this case, guaranteeing users a cryptographically verifiable verification. The platform provides opportunities to create a fair arbitration system.
Blockchain-based Syscoin represents the infrastructure on which the Syscoin can be built. The network allows users to create a type of markets they prefer from enterprise markets such as cryptographically protected marketplaces and eBay to highly specialized trading platforms. The markets are built on the cryptocurrency basis.