⚒ Syscoin -Blockchain Scalability, Trustless Interoperability for ERC20 projects

[cryptme]

I do not know why the price has been falling, not continued in the development of it?

Every coin has fallen, SYS is no exeption. It's not about the SYS development, it is about BTC dragging every coin down.

[wxi734862]

The author has two months did not post, I suspect that the author is not giving up the development...

[sebastien1234]

The author has two months did not post, I suspect that the author is not giving up the development...

The author has been working hard at development and is far from the only member on the team.

[DRPD]

thanks a lot sebastien1234.

I have asked myself some of the same questions recently, so I appreciate the answers!

holding some sys since early 2014 and bought a lot more between 1000 - 2000 sats early this year. I'm glad I did so and i guess i will fill my bag even a bit more  

i'm sure sys willl be a top 10 coin sometimes in the future.

keep on the good work and stay cool  - cheers

[CuriousInvestor]

The author has two months did not post, I suspect that the author is not giving up the development...

The author has been working hard at development and is far from the only member on the team.

Would suggest you guys to focus more on marketing too, Bitbay's marketing is really good.

[QuitK]

Answer for sebastien1234.

Hello.

Thanks for your reply. I have red whitepaper before posting my question on this forum, however I couldn't understand how scaling will affect transaction price and velocity (thats not surprising as I am not technician), I can only assume that then it will go up it potentially could cause some problems. Probably more than 100 millions are currently browsing Amazon.com and making thousands of transactions per second. What would happen to the Blockmarket if 10 , 50 or 100 millions users would be browsing it at the same time?

Search algorithm basically means order in which listings are displayed once potential buyer entered a thing he is looking for in a search field of marketplace and pressed enter. Please type 'Iphone 7' or any other thing on eBay, Amazon or any other marketplace and you will see list of results. The 'script' which generated these results is often called search algorithm. Search algorithm is crucial for any marketplace as it should eliminate listings which are not likely to sell from the top of search results. If search algorithm is not functioning properly and a person looking for iPhone 7 and he types it in the search field, he could likely see many other listings with iPhone 7 in the tittle (cases, earphones,accessories or even spammy listings), but not the actual item he is looking for. I know that this may not be the best example, but I hope you understand what I mean. Ebay and amazon search algorithm are mostly based on seller sales conversion rate and buyer behaviour and it's quite complex.
So have you thought about search algorithm on Blockmarket?


I would really be grateful if you would answer these questions here as we already started this discussion on this forum and I think it would be logical to finish it here. For later questions I will register on Slack and will join your group. I really value your time and wish you all the best with your project.

[coolprofit]

Who can throw down examples of using this technology? A living example in business

[CuriousInvestor]

Who can throw down examples of using this technology? A living example in business

To my understanding, it would basically be a trustless Ebay, where the fees are much lower.

[sidhujag]

Answer for sebastien1234.

Hello.

Thanks for your reply. I have red whitepaper before posting my question on this forum, however I couldn't understand how scaling will affect transaction price and velocity (thats not surprising as I am not technician), I can only assume that then it will go up it potentially could cause some problems. Probably more than 100 millions are currently browsing Amazon.com and making thousands of transactions per second. What would happen to the Blockmarket if 10 , 50 or 100 millions users would be browsing it at the same time?

Search algorithm basically means order in which listings are displayed once potential buyer entered a thing he is looking for in a search field of marketplace and pressed enter. Please type 'Iphone 7' or any other thing on eBay, Amazon or any other marketplace and you will see list of results. The 'script' which generated these results is often called search algorithm. Search algorithm is crucial for any marketplace as it should eliminate listings which are not likely to sell from the top of search results. If search algorithm is not functioning properly and a person looking for iPhone 7 and he types it in the search field, he could likely see many other listings with iPhone 7 in the tittle (cases, earphones,accessories or even spammy listings), but not the actual item he is looking for. I know that this may not be the best example, but I hope you understand what I mean. Ebay and amazon search algorithm are mostly based on seller sales conversion rate and buyer behaviour and it's quite complex.
So have you thought about search algorithm on Blockmarket?


I would really be grateful if you would answer these questions here as we already started this discussion on this forum and I think it would be logical to finish it here. For later questions I will register on Slack and will join your group. I really value your time and wish you all the best with your project.

Yes that is why we have investigated and implemented lightning network on Syscoin. It is already segwit active.

I am also looking into ElasticSearch for searching.. this kind of thing would be based on an indexer so it will suffer some delays before data is synced with blockchain but it might give the best results in terms of usability.

I also implemented a sys service fee which is part of the mechanism design of the supply curve. The service fee is dynamic and we can update it as price goes up or down.. thus if price goes up too high we can reduce it but if it goes down bring it up so we dont have to worry about spam attacks as much for sys services. The fees are part of the rates peg so as an alias owner your free to choose your rates peg which sets the rate for the alias in question.

[InfiniteLight]

The author has two months did not post, I suspect that the author is not giving up the development...

Not even a half hour before you posted the team's PR manager answered a bunch of questions that are pretty exciting. Are you blind?
Also, did you notice what happened with every coin for the past 7-10 days or so? Did you see the market today? It amazes me how some people even have money to invest in the first place.

[sebastien1234]

thanks a lot sebastien1234.

I have asked myself some of the same questions recently, so I appreciate the answers!

holding some sys since early 2014 and bought a lot more between 1000 - 2000 sats early this year. I'm glad I did so and i guess i will fill my bag even a bit more  

i'm sure sys willl be a top 10 coin sometimes in the future.

keep on the good work and stay cool  - cheers

My pleasure DRPD, thanks for your support, it is truly appreciated!

[sebastien1234]

The author has two months did not post, I suspect that the author is not giving up the development...

The author has been working hard at development and is far from the only member on the team.

Would suggest you guys to focus more on marketing too, Bitbay's marketing is really good.

One of our main goals with Blockmarket is to make it "so easy that even your grandmother can use it", marketing heavily now would attract many non-technical people who would abandon our project as soon as they open the QT wallet since QT is not easy to use. Our goal is to focus heavily on marketing after Blockmarket for Web has been launched as that is the product that will make Syscoin "grandma-friendly", therefore until then, our marketing tactict is a very targeted one and you will not see most of these targeted efforts.

As you are a Curious Investor, I'm also very curious at how you came to this conclusion about Bitbay:

-SEO-wise, searching Syscoin on google gives you our website as the #1 hit, search Bitbay and it will be the #3 hit.
-Twitter @syscoin has +18500 followers and we are following 5608 users, @BitBayofficial has 2534 followers yet is following 2276 users. If you understand how twitter works, I'm going to assume that you are drawing your conclusions from elsewhere.
-Google+ has a weird Bitbay community with 142 members, doesn't even link to their website (links to an old link), effectively killing any SEO or attention it could bring them.
-LinkedIn: Bitbay folllowers: 7, Syscoin followers: 113
-Facebook: Bitbay followers: 845 Bitbay Likes: 808, Syscoin followers: 3880, Bitbay followers: 3789
-Market valuation and volume: Bitbay's marketcap is $19299322 with only $74000 in volume, Syscoin's Marketcap is $47109256 and volume is currently $1276170.

Now I haven't even mentioned the marketing that we also do with Blockchain Foundry Inc, which also directly brings light to our project. And as I mentioned at the start, this is our low-level marketing prior to a product anyone can use.

Would be great to get some constructive criticism from you, if you oddly, truly believe their marketing is better, we would love to discuss it and even if you think that they do one thing better, than please let me know and we will look into it

[bitpotter]

The author has two months did not post, I suspect that the author is not giving up the development...

The author has been working hard at development and is far from the only member on the team.

That's right, now dev is probably busy for development, but they rarely update it's normal, anyway this is altcoin long, so keep it cool.

[sebastien1234]

The author has two months did not post, I suspect that the author is not giving up the development...

The author has been working hard at development and is far from the only member on the team.

That's right, now dev is probably busy for development, but they rarely update it's normal, anyway this is altcoin long, so keep it cool.

We do not rarely update, they are fairly frequent and we provide more updates than many software companies, keep an eye on
https://medium.com/@BlockchainFoundry (Blockchain Foundry Inc. is our corporation).

[GrizzlyShibe]

In the past three months:
We've heavily targeted advertising and engaged new users in China, Mexico, Saudi Arabia, Vietnam, India, Morocco.

Translated our Blockchain Foundry abstract into 6 languages: Arabic | Dutch | English | Hindi | Portugese | Spanish | Vietnamese

Added a new Syscoin Telegram group and gained 1013 members.
Gained 1492 followers on Syscoin Facebook
Gained 3123 followers on Syscoin Twitter
Gained 356 followers on Syscoin Slack

To everyone that's new, glad to see you here! If you don't see any marketing happening, that's probably because now that you're here, you are no longer our target market! We try to diversify and gain new community members all over the world in different and creative ways. Our marketing never stops.

[cryptme]

In the past three months:
We've heavily targeted advertising and engaged new users in China, Mexico, Saudi Arabia, Vietnam, India, Morocco.

Translated our Blockchain Foundry abstract into 6 languages: Arabic | Dutch | English | Hindi | Portugese | Spanish | Vietnamese

Added a new Syscoin Telegram group and gained 1013 members.
Gained 1492 followers on Syscoin Facebook
Gained 3123 followers on Syscoin Twitter
Gained 356 followers on Syscoin Slack

To everyone that's new, glad to see you here! If you don't see any marketing happening, that's probably because now that you're here, you are no longer our target market! We try to diversify and gain new community members all over the world in different and creative ways. Our marketing never stops.

Is there a way to help in with other language translations?

[GrizzlyShibe]

Is there a way to help in with other language translations?

You can download this Word doc, translate it and just paste it here in BCT. Then everyone can share and I can copypasta to BF site.  Thanks!!

[HR]

Hello.

Few weeks ago I heard about your project and it looks quite promising. I am eBay seller myself and your project to me looks interesting, eBay,PayPal and currency conversion fees are really high I pay about 12% on average. After reading Syscoin whitepaper I still have some questions.

1. If Syscoin blockmarket will grow to thousands transaction per second, how it will affect transaction fees and velocity?

2. When you plan to finish blockmarket and start bringing it to the mases?

3. I have studied your website (www.syscoin.org) and found that your team consist of 6 people and only two of them are developers. Also found that you are working on different projects. So from my point of view basically two people are working on several different projects.  Do you think that's enough resources to build a solid project ? Why you are not expanding your team?

4.Do you have any competitors except OpenBazaar?

5. Have you thought about search algorithm how listings will be displayed?

6. Lowest piece of Syscoin is 0.000001?

7. Is it true that you are going to develop a feature to make possible uploading listings from eBay via csv / excel file?

Please join the Slack group join.syscoin.org and the Devs will be able to answer all your questions

Is it really so difficult to answer here? Or do we all have to join the slack channel?

1. If Syscoin blockmarket will grow to thousands transaction per second, how it will affect transaction fees and velocity?

A: I'll let Jag Sidhu answer this more technically, however http://whitepaper.syscoin.org/ will probably give you most of your answers about technical design: http://whitepaper.syscoin.org/

2. When you plan to finish blockmarket and start bringing it to the mases?

A: Blockmarket does not have a set date yet, we are currently in the Beta 5 phase and have submitted it to a security audit firm, while they are auditing, we are working on non-security-related updates that make the UI experience more polished. Once all is confirmed and rectified (if issues are discovered during the audit, they will need to be fixed), we will release Blockmarket for Desktop. Blockmarket for web is what we consider to be the software that will bring Syscoin to the masses, as it will allow anyone to use Syscoin via a web-browser, no need to install software; we will begin working on that as soon as Blockmarket for Desktop is completed.

3. I have studied your website (www.syscoin.org) and found that your team consist of 6 people and only two of them are developers. Also found that you are working on different projects. So from my point of view basically two people are working on several different projects.  Do you think that's enough resources to build a solid project ? Why you are not expanding your team?

A: Our website is currently being re-vamped, our team did indeed consist of two developers a few months ago (plus the rest of the team), but currently we have 5, Dan Wasyluk, Jag Sidhu, Willy Ko, Sebastian Schepis & Ian Wijesinghe. https://medium.com/@BlockchainFoundry/blockchain-foundry-update-full-time-team-members-office-space-and-new-developers-joining-the-team-e11c251136bd


4. Do you have any competitors except OpenBazaar?

A: We do not consider OpenBazaar to be our competitor, Blockmarket has many features that OpenBazaar does not. Merchants would need to use many different applications (some centralized) to achieve Syscoin's current experience and yet we have so much more in-store; the costs of selling on OpenBazaar is also exponentially more expensive (IE: With OpenBazaar, either you need to pay for monthly fees to a hosting company to host your store or you need to keep a node online 24/7; whereas with Syscoin, it only take a few cents to create your store and have an offer up that lasts an entire year before it expires). So to answer your question, we do not have competitors, there are a few projects that claim to do a small percentage of what Syscoin can do, however, there is nothing that currently exists that can compare to the full-feature-set of Syscoin.

5. Have you thought about search algorithm how listings will be displayed?

A: I'm not exactly sure what you mean? Blockmarket brings all of Syscoin's existing features in an easy-to-use and polished piece of Software, listings are already searchable from the QT wallet or via console.

6. Lowest piece of Syscoin is 0.000001?

A: The smallest possible fraction of Syscoin is the same as Bitcoin = 0.00000001

7. Is it true that you are going to develop a feature to make possible uploading listings from eBay via csv / excel file?

A: Certainly, we will be working on a Syscoin E-commerce integration products after Blockmarket for Web has been released; Syscoin will be integrated with mainstream e-commerce platforms such as Magento, Shopify, OpenCart, and Prestashop. To answer your questions, this allows for bidirectional syncing of inventory between Syscoin's decentralized platform and various centralized offerings.

8. Is it really so difficult to answer here? Or do we all have to join the slack channel?

A: Slack is certainly the best place for you to ask questions, our community is also very helpful; we are all very busy in our team and our community often helps out so that we can put most of our efforts on development and planning.

Very exciting to hear. Thanks for taking the time. I appreciate the importance and purpose of slack, but this forum is one of the few open doors to the wider world. Bitcointalk is always at the top of search results and often a first contact. Very beneficial to all.

Music to my ears. Thanks again!

[sebastien1234]

Hello.

Few weeks ago I heard about your project and it looks quite promising. I am eBay seller myself and your project to me looks interesting, eBay,PayPal and currency conversion fees are really high I pay about 12% on average. After reading Syscoin whitepaper I still have some questions.

1. If Syscoin blockmarket will grow to thousands transaction per second, how it will affect transaction fees and velocity?

2. When you plan to finish blockmarket and start bringing it to the mases?

3. I have studied your website (www.syscoin.org) and found that your team consist of 6 people and only two of them are developers. Also found that you are working on different projects. So from my point of view basically two people are working on several different projects.  Do you think that's enough resources to build a solid project ? Why you are not expanding your team?

4.Do you have any competitors except OpenBazaar?

5. Have you thought about search algorithm how listings will be displayed?

6. Lowest piece of Syscoin is 0.000001?

7. Is it true that you are going to develop a feature to make possible uploading listings from eBay via csv / excel file?

Please join the Slack group join.syscoin.org and the Devs will be able to answer all your questions

Is it really so difficult to answer here? Or do we all have to join the slack channel?

1. If Syscoin blockmarket will grow to thousands transaction per second, how it will affect transaction fees and velocity?

A: I'll let Jag Sidhu answer this more technically, however http://whitepaper.syscoin.org/ will probably give you most of your answers about technical design: http://whitepaper.syscoin.org/

2. When you plan to finish blockmarket and start bringing it to the mases?

A: Blockmarket does not have a set date yet, we are currently in the Beta 5 phase and have submitted it to a security audit firm, while they are auditing, we are working on non-security-related updates that make the UI experience more polished. Once all is confirmed and rectified (if issues are discovered during the audit, they will need to be fixed), we will release Blockmarket for Desktop. Blockmarket for web is what we consider to be the software that will bring Syscoin to the masses, as it will allow anyone to use Syscoin via a web-browser, no need to install software; we will begin working on that as soon as Blockmarket for Desktop is completed.

3. I have studied your website (www.syscoin.org) and found that your team consist of 6 people and only two of them are developers. Also found that you are working on different projects. So from my point of view basically two people are working on several different projects.  Do you think that's enough resources to build a solid project ? Why you are not expanding your team?

A: Our website is currently being re-vamped, our team did indeed consist of two developers a few months ago (plus the rest of the team), but currently we have 5, Dan Wasyluk, Jag Sidhu, Willy Ko, Sebastian Schepis & Ian Wijesinghe. https://medium.com/@BlockchainFoundry/blockchain-foundry-update-full-time-team-members-office-space-and-new-developers-joining-the-team-e11c251136bd


4. Do you have any competitors except OpenBazaar?

A: We do not consider OpenBazaar to be our competitor, Blockmarket has many features that OpenBazaar does not. Merchants would need to use many different applications (some centralized) to achieve Syscoin's current experience and yet we have so much more in-store; the costs of selling on OpenBazaar is also exponentially more expensive (IE: With OpenBazaar, either you need to pay for monthly fees to a hosting company to host your store or you need to keep a node online 24/7; whereas with Syscoin, it only take a few cents to create your store and have an offer up that lasts an entire year before it expires). So to answer your question, we do not have competitors, there are a few projects that claim to do a small percentage of what Syscoin can do, however, there is nothing that currently exists that can compare to the full-feature-set of Syscoin.

5. Have you thought about search algorithm how listings will be displayed?

A: I'm not exactly sure what you mean? Blockmarket brings all of Syscoin's existing features in an easy-to-use and polished piece of Software, listings are already searchable from the QT wallet or via console.

6. Lowest piece of Syscoin is 0.000001?

A: The smallest possible fraction of Syscoin is the same as Bitcoin = 0.00000001

7. Is it true that you are going to develop a feature to make possible uploading listings from eBay via csv / excel file?

A: Certainly, we will be working on a Syscoin E-commerce integration products after Blockmarket for Web has been released; Syscoin will be integrated with mainstream e-commerce platforms such as Magento, Shopify, OpenCart, and Prestashop. To answer your questions, this allows for bidirectional syncing of inventory between Syscoin's decentralized platform and various centralized offerings.

8. Is it really so difficult to answer here? Or do we all have to join the slack channel?

A: Slack is certainly the best place for you to ask questions, our community is also very helpful; we are all very busy in our team and our community often helps out so that we can put most of our efforts on development and planning.

Very exciting to hear. Thanks for taking the time. I appreciate the importance and purpose of slack, but this forum is one of the few open doors to the wider world. Bitcointalk is always at the top of search results and often a first contact. Very beneficial to all.

Music to my ears. Thanks again!

Great! Thanks for your support! We certainly understand that many of our followers use Bitcointalk as a source of information, we try to push our news out to as many places as we can as some also prefer it via a blog/news site, various social networks or via a more hand-on approach with slack. Either source does unfortunately scatter all of the information that we try our best to communicate which is why we are revamping our websites to make it more of a one-stop for your Syscoin/Blockchain Foundry Inc. news. We also love constructive criticism, so if there is anything you think is missing, please let us know!

[_gavaraci_]

How can illegal substance sales be prevented?

http://www.coindesk.com/drugs-contraband-openbazaar/