What is Syscoin?

By LeftFooted | bitcoinea | 25 Jan 2022

The first thing I wanna say about Syscoin is their website is a bit slow. Maybe it's just me, slow network, but I thought it was worth mentioning. The goal, according to their whitepaper, is to combine the best of both worlds (Ethereum and Bitcoin) to build a network on which you can buil Web 3.0 applications.

In plain English, from what I gather, they want to use the security of Bitcoin with the addition of scalable Smart Contracts. They aim to provide a trifecta of options: a token platform, a blockchain and a development platform. To me, it kinda sounds like they're trying to build a jack-of-all-trades platform that users can use for anything and everything but I'll be honest, I'm still not sure I understand its potential to its full extent so any help in the comments would be greatly appreciated.

At the time of writing, Syscoin has a circulating supply of 632+ bln SYS, equating to around 71% of the max supply, with a $535 mln market cap. The price is $0.855663 and it is available on a few minor exchanges as well as a few major exchanges such as Binance.

The reason I became interested in Syscoin is I've begun using one of those faucets/platforms - one of the few that vaguely make sense - and Syscoin is my favourite payout option. I won't be paying bills like this anytime soon but I expect to buy a few beers a week with the coins I make within a month and it's a great way to gain exposure to new assets, pretty much for free. Go check it out if you want, it's free.

I've crossposted this article on my blog bitcoinea and LeoFinance.

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I’m a left-footed duck that loves writing. I write about cars, watches, craft beer and, you’ve guessed it, crypto Also active on read.cash


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