Utilizing Syscoin services (aliases, offers, data, certs) costs a certain amount of SYS depending on the transaction and the transaction size. Because there is nothing truly analogous to Syscoin on the market we're launching an with initial 90 day "price discovery" service fee schedule which allows for some price growth while decreasing cost of services over time. We'll observe the activity in this window and release a new wallet within 90days implementing a dynamic fee system- This will be a mandatory update.
Syscoin's team is not new to the industry, they bring the experience of an award-winning team to drive this incredibly innovative project. The team wanted to be able to release ground-breaking technology without limiting itself to any one specific innovation. Hence, the name Syscoin was coined- it allows for the building of multiple value-added and innovative services without being constrained to a single innovation. Syscoin on Social Media
Google +:https://plus.google.com/+SyscoinOrgSyscoin in the News:
Whitepapers: How Syscoin Works: General info: Innovation at it's best, Syscoin isn't just another crypto currency- it is also a value-added service and financial infrastructure integrated directly into its blockchain - something like this has never been done before! Syscoin is a crypto-currency and a financial infrastructure all in one!
- Syscoin Presale will be Secured Through Moolah.io's Escrow Platform (Cryptoarticles Business, July 14th, 2014)
- Syscoin - Building in the Blockchain (Coins Source, July 8th, 2014)
- Business on the Blockchain- Syscoin Pre-sale Starts Soon! (Cryptoarticles Business, July 8th, 2014)
- Syscoin - Not just a cryptocurrency but an All-In-One Financial System (247 CryptoNews, June 5th, 2014)
- Blockstok - A Bitcoin festival (Bitcoin UK Media, 16:43, July 2nd, 2014)
Syscoin implements a distributed marketplace integrated directly into the blockchain and more! This provides huge benefits to businesses or individuals looking to secure their data or marketplace in a decentralized manner that can never be "taken down" by having a single point of failure- the network makes this impossible. Now businesses can use Syscoin's incorruptible network to ensure the security of their sensitive data even if their redundancy systems fail - in the blockchain we trust!
Syscoin ensures the health of it's network with the ability to be merge-mined with any other SCRYPT coin. Syscoin provides a variety of useful decentralized, cryptographically-secured services based on Bitcoin's Blockchain technology:
The Syscoin presale has ended: PRESALE PUBLIC LEDGER Syscoin Frequently Asked Questions (FAQ): Q: What's the difference between Sys and Ether?
- Business on the Blockchain. Buy and sell anything with Syscoin's distributed marketplace integrated into the blockchain.
This isn't a cryptocurrency PLUS a marketplace. It's a marketplace built into a cryptocurrency. The Syscoin network enables the creation of marketplaces of any kind, ranging from small community trading platforms to large corporate marketplaces like eBay to fully encrypted hidden marketplaces. This does not limit itself to marketplaces that accept only Syscoin. Syscoin's blockchain innovations are merely an infrastructure upon which marketplaces can be built.
- Brokerage on the Blockchain. Exchange discrete data directly on the Blockchain. Documents like deeds, wills, trusts, stocks, bonds and contracts can now be created, mutually agreed upon, and transferred without the necessity of a third-party to authenticate the transaction; the Syscoin network itself acts as the third party, guaranteeing cryptographically-verifiable authenticity. Syscoin provides a foundation for the creation of provably fair arbitration systems which cannot be corrupted.
- Certificates on the Blockchain (demo
video). Using the cryptography of the Blockchain; Issue, authorize, and exchange digital certificates. With Syscoin, anyone can register as a certificate issuer and issue provably-unique certificates which can be authenticated by anyone using Syscoin's cryptographic proof of work. This allows for the creation and free exchange of a any kind of digital asset such as stocks, bonds, ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses.
- Miners Matter! By being universally merge-mineable with all Scrypt coins, Syscoin is prepared for the coming Scrypt ASIC boom. By simultaneously distributing coins to anyone mining any other Scrypt coin, it ensures that both democratic coin distribution and strong network health are achieved shortly after Syscoin's genesis.
A: Syscoin is based on well known, peer reviewed codebases (Bitcoin, Litecoin, Namecoin) that have been combined and extended. Ethereum is an attempted rewrite of this in a sense to try
and deliver a turing-complete smart contract solution. This is not the same as Syscoin. Additionally:
Q: What's the difference between Sys and Cloakcoin?
- Sooner delivery of it's presale; Syscoin was delivered on August 16, 2014.
- The amount of ether that will be mined every year is dependent on how many they sell during their presale. The more they sell the more that will be mined the year of release, giving a bigger dilution to the already mined/bought coins.
- After Ether presale closes you have to wait till at least December/January to see anything; if at all.
- Syscoin offered a 100% refund on failure to deliver of it's promised 5 core-features (escrow thru Moolah). The Ethereum team is allowed to use up to 5000btc before anything is even done properly or working and if it is a complete failure not a single refund was offered and no escrow option.
A: Please see this detailed comparison
. Q: How can I buy/sell Syscoin?
A: Syscoin can be traded directly on >> Moolah's trading platform. <<
(coming soon: Mintpal!) although any other exchange is welcome to trade Syscoin as well as long as they provide us with immediate contact details so we can update them with any technical details necessary. Q: How will I get my physical reward after purchasing presale coins?
A: The Syscoin Team will have a portal up in the next few days where you can enter your presale purchase info and and ship-to address. Once verified you're reward will be shipped ASAP. We ship internationally. Q: What do you mean when you say Moolah will be the exclusive exchange? Will Syscoin not be on other exchanges?
A: We have a partnership with Moolah and we are coordinating with them to get Syscoin on all of their platforms [including their exchange] at launch as part of this partnership. This doesn't mean other exchanges can't add us. We're just working directly with Moolah in a much larger sense to try to make Syscoin's capabilities more accessible to the masses so their's will be the first exchange we are listed on. Q: I didn't send enough BTC for my presale purchase because I forgot the network fee! What do I do?
A: Simply "top up" the address you sent the initial payment to, within 6hrs you'll get a confirmation that you're top-up was successfully registered and presale purchase is complete. Q: How long have you been working on this project? And could you briefly describe your planned time commitment to this going forward?
A: 8+ months, time commitment moving forward is as much time as we have outside of our normal day-job/lives and we are also on-boarding additional developers to supplement that capacity if/when needed. Q: How does the coin production/distribution setup provide insulation from the risk of massive miner/whale dumps? Is there an estimate out there of the max # of daily BTC trading volume that might be needed to absorb mined coins?
A: If you check out the schedule here I think the values at the far right speak for themselves. Also keep in mind there is a 25btc limit per buyer in an attempt to insulate from an over-concentration of wealth leading to "massive dumps" Q: What immediate plans do you have beyond delivery of these core guaranteed features to further increase the value of the coin/network?
A: Collected funds are being focused on several things, primarily building partnerships with large players in the crypto space (I mean companies, not whales). We're also going to be spending some of the collection on bounties, although not all of it as we do have a small amount of Syscoin for bounties as well. Then of course, future development; we're already trying to push additional features (2) into the coin prior to launch, on top of the 4 that are already completed. Outside of that we will hold much of the BTC for ongoing costs that we can't currently predict. We already have some deals in place that look to exercise the BTC we're collecting and the deals we're working on aren't cheap, but will ultimately take Syscoin to the next level. That being said nothing can be "guaranteed to increase value" in crypto as its a highly experimental field and as such we make no such claims. Q: Along those lines, are smart-contracts/prediction markets/futures/options things you plan to implement, or can see being (fairly quickly) implementable into this framework?
A: Some aspects of what you're calling out could be implemented in Syscoin fairly quickly but we have other roadmap plans that supersede them in priority at the moment. Additionally we need to discuss our roadmap after escrow and reputation systems. Once we get past that feature set it seems like there isn't a strong call for one thing or another just yet so we we're going to focus on smart-contracts within Syscoin but things like prediction markets, futures and options are on the roadmap at the moment; doesn't mean they can't be added. Keep in mind the target demographic here is large financial markets, services and systems so we will be prioritizing features in that vein of development. Q: What do you consider the three biggest uncertainties regarding development implementation (either with core or future-beyond-core features)?
A: How can we implement a fully automated escrow (we're working on an agent-based escrow currently)? How can we implement smart contracts as is commonly understood in crypto on top of the Syscoin Certificates foundational structure? Which features will be the most heavily leveraged and how will that possibly change the roadmap? ie: what if data storage is a the huge feature everyone uses instead of market or certificates? How would that change our strategy/would it?
---FAQ Last updated: 8/16/2014
Bounties Have Begun!: *All bounties will be managed directly on Altcoingiveaways at THIS THREAD Please respond to bounties on altcoingiveaways. It is against BCT policy to manage such items here, and we want to abide by the rules so please head over to altcoingiveaways to lock in your bounty if you haven't already PM'd me.
MPOS Merge-mined fork(be part of history and help us get merge-mining on every scrypt pool out there!) 100000 Sys
First website using the Syscoin Blockchain 2000 Sys
IRC Bot (with standard commands as well as pricing lookup, network hashrate, available pools, website referral 5000 Sys
Setting up a charting site like Bitcoin wizdom 5000 Sys
Games 2000 Sys
An android wallet 5000 Sys
Tip bots (all tip bots must be provided to the Syscoin team):
Facebook 10000 Sys
E-mail 10000 Sys
Twitter 10000 Sys
Reddit 10000 SysNews and social networking(Ongoing, can be claimed by multiple people):
-- Write and publish a real news article about Syscoin. Must be on a well-known news site.
We will check traffic stats. (Ongoing, can be claimed by multiple people) 10000Sys
-- Write a blogpost about Syscoin. Must be of decent quality. (Ongoing, can be claimed by multiple people) 5000Sys
-- Google+ add to Circles and +1 30sys
-- Facebook likes 30sys
-- Follow @syscoin and retweet 30sys
-- Follow reddit and post on reddit 30sys
Syscoin's difference, in action:
Here is a video demo of simple Certificates in action as well as in image of the full Syscoin command list: Syscoin Certificates: Syscoin Commands:
Syscoin Preann Frequently Asked Questions (FAQ): Q: Where is the whitepaper?
A: Syscoin Overview Whitepaper (Draft) Q:Isn't this the same thing as NXT?
A: No, NXT is an attempt at a Bitcoin rewrite from scratch and is NOT hosted on github for community contribution. Syscoin is on github and is a fork of the Bitcoin codebase. Q:Isn't this the same thing as BitHalo?
A: Feature-wise there are parallels (smart contracts) but Syscoin takes its feature set further from what we know of BitHalo. Reading what's available about BitHalo it is a an abstraction on top of a blockchain, rather than being directly integrated. We need to do more research on this as its very new and the source code isn't available yet (that I know of) so we're operating largely off press-release/marketing information when it comes to technical comparisons to BitHalo. Q: When is the presale?
A: The presale ended on August 16th, 2014.
You can now purchase Syscoin directly at Mintpal
for SYS/Fiat on Moolah's Trade.moolah.io Q: When is the launch date?
A: The soft launch began on August 16th at 12:00pm PST Q: How will the presale proceeds be spent?
A: It will be used to further adoption of Syscoin within the altcoin space, to build relations with other partners in the crypto/altcoin space, marketing and to cover past and future development and hosting costs for Syscoin related sites and services. Q: Can I see a video of the coin in action?
A: Yes. Here it is! [INSERT VIDEO LINK] Q: How many people are on the team? Who are you?
A: We have six people on the Syscoin team. We're an experienced team that has received rewards in the past for our work on other coins within the crypto community. We've taken that experience and decided to channel it into something real and innovative rather than another clone coin. Q: Where's the infographics?
A: We have a graphic outlining the features in a psuedo-technical form here
we're working on a more robust infographic which we'll release soon. Q: Isn't SCRYPT dead? Why another SCRYPT coin?
A: Scrypt is alive and well! The large driver for non-scrypt algorithms (x11, x13, x15, x[n]
) is to try and combat ASICs since these hit the market just a few months ago. Because Syscoin uses block-by-block retargeting and can be merge-mined the proliferation of Scrypt ASICs are a good thing for Syscoin. This means that Scrypt mining is here to stay and the network will be healthy for a very long time. Q: Can I send any file on the blockchain using Syscoin?
A: Yep. Each entry is currently limited to 0.5mb so you'd need to spread out larger files across several entries (like a multipart zip file) and of course fees will apply the more data you store, the more it will cost (unlike Namecoin these fees go to miners instead of being burned). Q: Could a 51% attack result in a certificate / asset double-spend?
A: Technically, yes. We are looking at Slingshield to try and mitigate the possibility of this type of attack although it will not be implemented at launch, and we may improve upon it if we see the potential for enhancement. Merged-mining with any other Scrypt coin, however, ensures that the hash-rate will be widely spread-out between many pools so we doubt that this will be a problem, in the long-run at least. Q: How far is development?
A: Development on the core feature set is complete. We are constantly looking for new ways to innovate and have many ideas for future development. Q: Wont this turn into a silk road?
A: We are only offering the technology to facilitate distributed marketplaces. We aren't responsible for how it is leveraged. Q: Why doesn't it show the coin dev on the website?
A: Our core crypto developer is very active but also holds a high level position within a private company outside of the crypto space that doesn't understand the crypto space. Because there is a concern of misconceptions by the employer regarding work-focus being in such a executive position, public references to our coin developer's personal information have been omitted until this is no longer a concern.
---FAQ Last updated: 7/19/2014
Important Announcement about initial Syscoin Service Fees
In order to be as transparent as possible and to make clear this decision is a strategic one; we want to clarify some information about the “service fees” tied to Syscoin services. There is nothing like Syscoin currently on the market. Its closest competitors dramatically under-price their service offerings (speaking specifically about Namecoin). Due to the fact there are no analogous services in the “real world” by which to attempt to price Syscoin services. As such we will be following an initial pricing strategy that attempts some level of “price discovery”.
What this means is that we don’t know how much posting an offer, reserving an alias, or storing data should cost. We do know that fees need to be high enough to add value / discourage abuse while not being prohibitively expensive. Because of this the initial service fee schedule for Syscoin services will be temporary. The prices for services will be on the high side to start and then decay on a fixed schedule until a predetermined block height at which we’ll release a new wallet that implements a more effective fee schedule based on the market activity we observe during the initial price discovery schedule period.
Properly pricing these services is difficult as the price of Syscoin will certainly fluctuate and we don’t want to undervalue or overvalue these services. We’re pricing services based on the pre-sale regular phase price (0.00000518) which is arguably low meaning this may overprice services if it's value increases, something we’ll just have to observe and another reason for the decay schedule. We’re planning on pricing the Syscoin services fees very competitively relative to the cost of the closest comparable service in the real world such as domain name for aliases, ecommerce/ebay for the marketplace features, dropbox/googledrive/others for data storage etc.- keeping in mind that Syscoin services are distributed and cryptographically provable which the services being compared to do not provide.
Moolah Partnership The Syscoin Team is pleased to announce that we've officially partnered with Moolah (Moopay LTD)
). Moolah has secured the Syscoin presale via their escrow platform. We have a dedicated partnership in place so there will be a custom portal specifically for Syscoin presale investors to reserve their coins. Moolah has assist in distributing the Syscoin to investors via wallet.dat or pub/priv keys that can be imported directly into your Syscoin wallet.
This partnership goes beyond just the presale and launch of Syscoin. Moolah offers a host of crypto related services to the global
marketplace, they are not just limited to US customers. They have a trading platform, a merchant platform, and an escrow platform already in place and are in the process of building numerous other services for the crypto space. They have never once been hacked. This is a strategic partnership not only to provide a secure escrow platform for presale investors but also to allow for long term growth of Syscoin via an immediate ecosystem of services enabled by Moolah. Moolah is currently in the process of transitioning all of their core services to their V2 platform for assured reliability- Syscoin will be available through these services. Moolah's V2 trading platform as well as their recently acquired Mintpal, will also be the first exchanges to offer Syscoin
There are natural intersections between the services Syscoin offers and the platform capabilities Moolah can directly implement on top those distributed services. We look forward to exploring these possibilities with the Moolah team. Together we could bring the first decentralized large-scale marketplaces, digital certificates, datastore, and other such services to the mainstream market. We're excited to announce this partnership and move forward with such a well known pillar of the crypto community![/list][/list][/list]