⚒ Syscoin -Blockchain Scalability, Trustless Interoperability for ERC20 projects

[ozBigPoppa]

Hey all you Hackers,

Want to have a try at cracking the Syscoin Bridge? There is currently 623,000 Syscoin up for grabs.

Head over to our Bounty Page to see all details

Syscoin Bridge Bounty

BigP!

[Jcga]

https://www.rise.global/blockchain-100

"We're proud to be recognized as top influencers in the #blockchain industry.
Syscoin lands #7 on the @risedotglobal "Blockchain Top 100" leaderboard!"

https://twitter.com/syscoin/status/1158795556891721728

Congratulations!

[klarki]

Syscoin Weekly Update #65
https://syscoin.org/news/syscoin-weekly-update-65

[bstr156]

Syscoin Weekly Update #66:

• Core Dev Willy Ko engages Shanghai International #Blockchain Week
• SludgeFeed article: ~30% @Syscoin Supply Locked in Masternodes
• HackerNoon covers Syscoin's upcoming interoperability
• Q&A w/ Dan Wasyluk: Interop & AGXPay dev updates, & more

https://syscoin.org/news/syscoin-weekly-update-66

[bstr156]

Willy Ko also attended Devcon5 last week in Osaka, Japan after doing the Shanghai International Blockchain event.  Devcon5 (Ethereum-focused) was quite relevant considering Syscoin's push to innovate scalability & interoperability accessible to Ethereum.  There will likely be more about his interactions at Devcon5 in the next Weekly Update.

[bstr156]

The latest AMA w/ Dan Wasyluk on Oct 11th brought-out a lot of good updates.

To state a few:

• Bridge (interop) nearing completion
• New BCF Client (unnamed as of yet).  Reportedly a large Canadian organization.  More info coming depending on how much PR leeway they agree to give BCF at this time (being discussed).
• Discussion of private permissioned blockchain solutions & Web3
• Mention of auxfees (apparently already largely developed) enabling token creators to define their own tx fee structure/schedule

Join the official Syscoin Discord, and hop into the #bcf channel to catch up:
https://discord.gg/RkK2AXD

[bstr156]

Crypto Currency News article offers interesting perspective on where Masternode technology might be heading.  Also covers Syscoin and BlockNet as examples that are relevant to that future.

https://cryptocurrencynews.com/masternode-next-generation/

[bstr156]

Komodo has announced they are participating and speaking @ Block Party Amsterdam among numerous other speakers, organized by Syscoin Platform & Blocknorth. Hear & engage some of the most innovative minds in the industry at House of Watt, Thurs Nov 7th '19.

Free tickets and information at:
https://www.blockpartyamsterdam.com/

Promos:
https://twitter.com/syscoin/status/1183785707581652992?s=20
https://twitter.com/blocknorth_/status/1182712176680886273?s=20

[CryptoJohn]

Komodo has announced they are participating and speaking @ Block Party Amsterdam among numerous other speakers, organized by Syscoin Platform & Blocknorth. Hear & engage some of the most innovative minds in the industry at House of Watt, Thurs Nov 7th '19.

Free tickets and information at:
https://www.blockpartyamsterdam.com/

Promos:
https://twitter.com/syscoin/status/1183785707581652992?s=20
https://twitter.com/blocknorth_/status/1182712176680886273?s=20

Hey brother,

I appreciate you keeping this thread active.

[bstr156]

"What are the differences between Syscoin Z-DAG and other DAGs" is a question I've answered a few times.  I think it's worth putting the answer here.


Z-DAG is effectively a decentralized DAG used by all Syscoin Platforms Tokens, with the benefit of global consensus for a tx in 10 seconds. Within that period double spends are caught at 0.999999 probability (according to Jag's calculation), and after that the transaction can be immediatley spent by the recipient before flowing to SHA256 base layer Bitcoin-compliant security and onchain immutability.

Someone who isn't very familiar with existing DLT tech still might not understand the significance of this.  Let me further simplify:

• No DAG other than Z-DAG (that I know of) is actually decentralized. They utilize central watchers or something similar.
• Similarly, no DAG other than Z-DAG benefits from global consensus
• Many DAGs do not retain transaction history on all nodes. Nano is one example. It aggregates outputs and discards individual tx history with the goal of scalability. Syscoin retains them onchain.

On top of all this, Z-DAG is proven by an objective third-party to perform comparable or in excess of credit card network burst throughput, verifiably exceeding the still-unverified claims of other DAGs & blockchains. This is due in large part to an efficient topology algorithm, parallel sig verification, substantial node resources, and a number of unique changes improving the efficiency of Syscoin masternodes serving as DAG relay net with fat interconnectivity (mesh).

DAG projects like IOTA are still trying to solve the problem of centralization and their lack of global consensus, as well as throughput and scalability without sacrificing important things like global tx history availability.

Syscoin Z-DAG accomplishes all of that, and it works right now.

[bstr156]

My own assessment of projects utilizing Syscoin Platform

Thus far Lode (https://lode.one) is the most successful at the current time. It seems to have the most marketing behind it, and is the most developed (as far as I know) among the projects utilizing the platform, a use case that has clearly drawn interest and following, and a ready user base. There's also Aibb (https://aibb.io) & Tryvium (https://www.tryvium.io) that are clearly under active dev. Some others surfaced at one time or another, but I'm not sure what's going on with them, like Lavacoin (https://www.lavacoin.io). CoinPayments of course used Syscoin for their token before deciding to start an entirely different project & venture towards developing their own chain and facilitating swap from CPS to VLX. While CPS itself wasn't successful IMO, it was a successful and proper use (among many potential uses) of the Syscoin Platform.

There are at this time fifty-six distinct Syscoin Platform Tokens in existence. While some no doubt were activated for test/experimental purposes by parties unknown, I have to assume some number of them might be legitimate projects that have not yet reached the point of revealing themselves publicly based on contents of the publicValue field associated w/ their assetActivate transaction.

What I really like is that these projects are pursuing use cases that aren't just games or gambling which on many platforms end up becoming the majority.

[bstr156]

Syscoin Weekly Update #67: Dan Wasyluk Interview, Successful LODE Launch, More Block Party Amsterdam Speakers, SYS Added to Another Exchange & Hosting Platform, & more.

Read it here: https://syscoin.org/news/syscoin-weekly-update-67

[Jcga]

Syscoin Weekly Update #67: Dan Wasyluk Interview, Successful LODE Launch, More Block Party Amsterdam Speakers, SYS Added to Another Exchange & Hosting Platform, & more.

Read it here: https://syscoin.org/news/syscoin-weekly-update-67

Thank you, go Syscoin!

[bitcircle]

Syscoin Weekly Update #67: Dan Wasyluk Interview, Successful LODE Launch, More Block Party Amsterdam Speakers, SYS Added to Another Exchange & Hosting Platform, & more.

Read it here: https://syscoin.org/news/syscoin-weekly-update-67

Wonderful update the team is moving forward nicely they are making very healthy progress and it will be worth for it. I hope it will get succeed to gain more power like before and it will show a massive rally again that's the reason I still have strong believe in this coin.

[bstr156]

Syscoin Weekly Update #67: Dan Wasyluk Interview, Successful LODE Launch, More Block Party Amsterdam Speakers, SYS Added to Another Exchange & Hosting Platform, & more.

Read it here: https://syscoin.org/news/syscoin-weekly-update-67

Wonderful update the team is moving forward nicely they are making very healthy progress and it will be worth for it. I hope it will get succeed to gain more power like before and it will show a massive rally again that's the reason I still have strong believe in this coin.

Those who've watched Syscoin through the years know the devs are diligent - Jag in particular.  The quality of dev and tech is one of the main things keeping me interested in Syscoin.  Some people think tech itself isn't as important as marketing to get adoption, but that rings extremely shortsighted to me, especially in a tech industry.  Marketing is important, and will ramp-up, but Syscoin operates these days with an approach different than most projects; Release the product, then do marketing.  That's particularly been the case w/ Syscoin 4 and the now upcoming interop tech.

Some of the recent challenge has been the project & scope have gone through transformation since the 2014 beginning as the devs rolled accumulated knowledge and perspective into the design.  I'm hoping the protocol settles-down and hard-forks are replaced with soft-forks so Syscoin can demonstrate its stability by accumulating block count & uptime.  New ZDAG throughput layer, the token platform, trustless interoperability, enterprise services (like marketplace and document signing) which use offchain aggregation with onchain record-of-state and Ethereum smart-contracts, all based on a streamlined blockchain - that is the way forward for Syscoin's long term relevance.  It's true the initial flagship use case (onchain marketplace, and other onchain native smart contracts like aliases, etc) seemed more flashy on the surface, but it was not scalable and ultimately a dead end in the long run.  What Syscoin has become is scalable and broader and more powerful in utility.  It's ironic to see other projects implementing some of the same services  (in the same ways) Syscoin was first to provide long ago before the Syscoin devs decided based on first-hand experience they were best handled other ways.

[bstr156]

1,744 masternodes and counting.

In the last 35 days, 130 new MNs registered, while only 13 had their collateral moved and went offline.

[wwzsocki]

Thus far Lode (https://lode.one) is the most successful at the current time. It seems to have the most marketing behind it, and is the most developed (as far as I know) among the projects utilizing the platform, a use case that has clearly drawn interest and following, and a ready user base. There's also Aibb (https://aibb.io) & Tryvium (https://www.tryvium.io) that are clearly under active dev...

This is really great to see how Syscoin developed from a marketplace to a full-scale platform for developers to build on.

All these projects mentioned above look really good and professional. Maybe I have some problems with understanding the AiBB project but the rest is really cool.

New ZDAG throughput layer, the token platform, trustless interoperability, enterprise services (like marketplace and document signing) which use offchain aggregation with onchain record-of-state and Ethereum smart-contracts, all based on a streamlined blockchain - that is the way forward for Syscoin's long term relevance...

I have some problems understanding this ZDAG layer and would be great to read some more explanations.

Great to see such an extended development ongoing and I am happy that I am not understand something because it means that Syscoin is really advanced technology.

So, Sysocin is already built on DAG like Byteball? Or is ZDAG something else? Is this already implemented?

Can you please point me to some materials about how exactly Syscoin is now built? Because the changes are so significant that I don't understand how it works actually?

[bstr156]

Thus far Lode (https://lode.one) is the most successful at the current time. It seems to have the most marketing behind it, and is the most developed (as far as I know) among the projects utilizing the platform, a use case that has clearly drawn interest and following, and a ready user base. There's also Aibb (https://aibb.io) & Tryvium (https://www.tryvium.io) that are clearly under active dev...

This is really great to see how Syscoin developed from a marketplace to a full-scale platform for developers to build on.

All these projects mentioned above look really good and professional. Maybe I have some problems with understanding the AiBB project but the rest is really cool.

Wish I were more familiar with Aibb as well.  Some others in our community are.  Maybe they can chime-in.  I know of it as an AI-driven trading advisor dapp that operates on its own token economy.  Been preoccupied with other things and haven't dug into it in a serious enough way to comment further.

New ZDAG throughput layer, the token platform, trustless interoperability, enterprise services (like marketplace and document signing) which use offchain aggregation with onchain record-of-state and Ethereum smart-contracts, all based on a streamlined blockchain - that is the way forward for Syscoin's long term relevance...

I have some problems understanding this ZDAG layer and would be great to read some more explanations.

Great to see such an extended development ongoing and I am happy that I am not understand something because it means that Syscoin is really advanced technology.

So, Sysocin is already built on DAG like Byteball? Or is ZDAG something else? Is this already implemented?

Can you please point me to some materials about how exactly Syscoin is now built? Because the changes are so significant that I don't understand how it works actually?

Yes, ZDAG was implemented with Syscoin 3 back in Q2/Q3 2018.  It has undergone further enhancement since then (parallel sig verification, more efficient topo algo, etc).  It is live on the Syscoin 4 network, and every Syscoin Platform Token utilizes it at present.  Syscoin is still a SHA256 consensus blockchain and remains Bitcoin-compliant in that it remains up-to-date w/ Bitcoin Core.  ZDAG is a separate consensus layer (global consensus) that precedes SHA256 PoW and offers much higher throughput in a decentralized way, with probabalistic security and a means of enabling minimal security trade-off and also gives clients/merchants the ability to determine what they consider their own proper degree of trade-off for security vs speed.

Here's some ZDAG material, assuming you've read the summarized explanation of ZDAG's benefits in post #3449 above (https://bitcointalk.org/index.php?topic=1466445.msg52781035#msg52781035).  If you haven't, do that first because it explains how, in effect, ZDAG differs from Byteball, IOTA, etc, and its advantages over typical DAG.

An excellent tech-oriented article on ZDAG by Michiel Mulders.  Also explains differences between typical DAG & ZDAG.
Entangling ZDAG Technology with Syscoin (https://www.hackernoon.com/entangling-z-dag-technology-with-syscoin-h31bh3dyi)

ZDAG White Paper (https://syscoin.org/zdag_syscoin_whitepaper.pdf)

Syscoin 4 White Paper is "coming soon".  V3 paper likely holds enough relevance to suffice 'til then: https://syscoin.org/syscoin3_whitepaper.pdf

Whiteblock Report on ZDAG:
ZDAG:  A  Practical  Performance  Analysis (https://www.whiteblock.io/wp-content/uploads/2019/07/ZDAG-Analysis.pdf)

A few Reddit threads you might find helpful:
Read sidhujag's comments in this thread: https://www.reddit.com/r/btc/comments/d2s7nm/bitcoin_cashs_avalanche_vs_syscoin_zdag_who_wins/
Read sidhujag's comments in this thread: https://www.reddit.com/r/btc/comments/d0jr8o/could_bitcoin_use_zdag_in_order_to_improve_its_tps/
https://www.reddit.com/r/SysCoin/comments/diq8ca/syscoin_platform_brings_you_scalability_and/
https://www.reddit.com/r/SysCoin/comments/d27udg/what_is_a_difference_between_zdag_and_dag/

[wwzsocki]

...ZDAG was implemented with Syscoin 3 back in Q2/Q3 2018.  It has undergone further enhancement since then (parallel sig verification, more efficient topo algo, etc).  It is live on the Syscoin 4 network, and every Syscoin Platform Token utilizes it at present.  Syscoin is still a SHA256 consensus blockchain and remains Bitcoin-compliant in that it remains up-to-date w/ Bitcoin Core.  ZDAG is a separate consensus layer (global consensus) that precedes SHA256 PoW and offers much higher throughput in a decentralized way, with probabalistic security and a means of enabling minimal security trade-off and also gives clients/merchants the ability to determine what they consider their own proper degree of trade-off for security vs speed.

Here's some ZDAG material, assuming you've read the summarized explanation of ZDAG's benefits in post #3449 above (https://bitcointalk.org/index.php?topic=1466445.msg52781035#msg52781035).  If you haven't, do that first because it explains how, in effect, ZDAG differs from Byteball, IOTA, etc, and its advantages over typical DAG...

Thank you very much for this very detailed answer.

I awarded you with merit for that because it is first such a quality answer I got from a newbie account and it is obvious that you have a lot of knowledge about cryptocurrencies which a very good thing and we need more members like you. Of course, I have first read all posts in this thread from at least the last five pages, especially almost all yours. I keep reading now all linked materials and kudos for that too because it is really great stuff and if somebody wants to know more about ZDAG I advise you to read it to understand what Syscoin really is now.

I can't understand why there is no marketing campaign for Syscoin?

Personally, I have seen nothing lately about Syscoin and that is why I check from time to time such projects, especially if I hold these tokens and in Syscoin I was involved from the very beginning, but last year I stopped to follow closely because of the price drop and overall altcoins market condition. To be honest, I thought that like many other projects Syscoin is in the same place as 3 years ago and we have nothing more as a marketplace app. I just couldn't believe in such big progress and major changes in the Syscoin protocol, which is very good of course.

There are so many things to be proud of and which needs to be shared, that I keep wondering why there is nothing about Syscoin in the crypto media and even this thread looks like not catching too much attention from the community?

With no doubt, more marketing is needed and there is no time to wait in actual market conditions. I think if people know about this tremendous progress, which Syscoin did in the last 2 years, there will be more investors and people interested in buying SYS on exchanges. More investors mean more buying, which means more volume, liquidity and for sure price should be going up.

[bstr156]

Thank you very much for this very detailed answer.

I awarded you with merit for that because it is first such a quality answer I got from a newbie account and it is obvious that you have a lot of knowledge about cryptocurrencies which a very good thing and we need more members like you. Of course, I have first read all posts in this thread from at least the last five pages, especially almost all yours. I keep reading now all linked materials and kudos for that too because it is really great stuff and if somebody wants to know more about ZDAG I advise you to read it to understand what Syscoin really is now.

I can't understand why there is no marketing campaign for Syscoin?

Personally, I have seen nothing lately about Syscoin and that is why I check from time to time such projects, especially if I hold these tokens and in Syscoin I was involved from the very beginning, but last year I stopped to follow closely because of the price drop and overall altcoins market condition. To be honest, I thought that like many other projects Syscoin is in the same place as 3 years ago and we have nothing more as a marketplace app. I just couldn't believe in such big progress and major changes in the Syscoin protocol, which is very good of course.

There are so many things to be proud of and which needs to be shared, that I keep wondering why there is nothing about Syscoin in the crypto media and even this thread looks like not catching too much attention from the community?

With no doubt, more marketing is needed and there is no time to wait in actual market conditions. I think if people know about this tremendous progress, which Syscoin did in the last 2 years, there will be more investors and people interested in buying SYS on exchanges. More investors mean more buying, which means more volume, liquidity and for sure price should be going up.

Thanks for the merit, much appreciated.

Spreading information on ZDAG is very good for time being, because interop will soon open Syscoin Platform to be used by other platforms, for ZDAG in particular (which has many advantages over Lightning Network, especially for asset token use cases and point-of-sale).

Members of Syscoin Foundation and Syscoin Development & Marketing Team have been working w/ external marketing firms the past several months. These firms have a good track record and their advice is being followed. Most work w/ them pertains to planning the upcoming campaign that will reveal unique trustless interop functionality after it is released and functioning w/ Ethereum.  As for where it is on release timetable...  my understanding is the bulk of interop code is complete. It has been extensively probed for bugs by an outside team (Art of Bug) on a bounty basis, much of which was funded by Jag himself but also the community.  All bugs found have been resolved.  What remains is coding a few optimizations then releasing it to community testnet (for a couple/few weeks most likely). A web-based wizard has been created which can give a sense of how it will operate: https://bridge.syscoin.org/ (<-- note, this is the "old" version of the wizard.  The new is said to be better but not available quite yet).  A testnet PoW faucet has also been created, and should operate w/ mainnet coins fairly soon - this will make it easy for devs to try the platform which will also help drive adoption.  IMO, gaining more projects using Syscoin Platform is better at this point than just getting on more exchanges.  Fostering dev appeal is key, and a number of initiatives exist for that, including improved instructional documentation.

Extent of active marketing at present is also of course impacted somewhat by price.  Foundation & SDMT are recipients of funding from governance, and strive to make most efficient use of funds.  They always attempt to garner services in exchange for SYS (whether it be site design or hiring marketing firms) rather than sell at these levels (also worth noting that w/ Syscoin's market volume, if any selling of SYS were to happen the price impact would be near negligible considering the amount of SYS granted).  I share your perspective in part.  One thing that can be said is Syscoin persists with innovating despite market conditions, and has survived much harsher conditions than the past year.  Despite price, things are looking up on many fronts.  Community teams are gaining more manpower, even BCF seems closer aligned to Syscoin now, and IMO some of the best innovation currently happening in the space is going on within the project.

Dan will be making a number of announcements at the upcoming Syscoin-organized Block Party Amsterdam on Nov 7th.  Attendence for the event is looking good thus far, and there will be multiple speakers from different projects including Komodo.