Syscoin Platform Tokens (SPT) on HOTBIT Pending 4.2. Release

Syscoin Platform Tokens (SPT) on HOTBIT Pending 4.2. Release

By drlove | Sysnetsite | 13 Mar 2021


As the release of Syscoin Lux 4.2. is approaching with blockheight announcement due any day now, the eco-system for the Syscoin Platform is rapidly maturing. Not only will the long awaited trading pair of SYS/USDT be made available (in addition of the SYS/BTC and SYS/ETH pairs), but Hotbit will integrate Syscoin Platform Tokens (SPT) following the release of the Syscoin Lux 4.2.

The reason for that delay is that Syscoin Platform moves from the Ethereum model of accounting to the more efficient UXTO (unspent transaction output) of Bitcoin and thus following Bitcoin core more closely. UXTO is more efficient accounting method for high scalability solution that will be needed for enterprise level adoption. For those unfamiliar, Syscoin is merged-mined with Bitcoin and follows closely the latest BTC core development, so this is a logical step. Obviously, exchanges do not want to do the integration work twice, hence Hotbit will wait for the release of 4.2.

The 2800+ Syscoin masternodes, each requiring a collateral of 100'000 Syscoin that now lock up more than 45% of total supply facilltiate token layer transactions with patent-pending z-dag speed, that have been third-party tested by whiteblock under realistic network conditions to be often in excess of 65K tps. Watch a cool vdo to see how transaction are confirmed within about 10 seconds between London and Australia! 

The fees for Syscoin Platform Token transactions are extraordinarily inexpensive: currently about SYS 0.0000582 or USD 0.0000128 per transaction. Compare this to a popular unnamed platform where gas fees for token transaction are often in excess of USD 30. Obviously, other platforms are also seeking solutions, often using validators that neither offer the decentralization nor the security of the Syscoin Platform that has the second largest hashrate following BTC.

It is anticipated that quite a few projects in addition to lode.one (gold and silver stablecoins) that have waited until now start using the Syscoin Platform upon the release of 4.2., especially those requiring on-chain notary functions that will be essential for DeFI and valuable NFTs and will be useful for exchangesas well. Rather than simply have KYC at sign-up, token issuers can set rules on-chain, such as jurisdiction or age requirements, etc. Another pioneering first by Syscoin!

Read a short summary on what is coming with Syscoin Lux 4.2. release and the exciting future with zkRollups and smart contracts that will follow later in the year! 

Syscoin has never looked as good - and the best is yet to come! Stay up-to-date with the latest news and developments and be among the first and best informed about our advancing ecosystem:

Finally, if you are looking for a comprehensive and up-to-date list of links to exchanges, masternode hosting providers, wallets, downloads, latest news, videos, news releases, social media accounts and more, don't forget to visit and bookmark https://syscoin.network/syslinks !

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