Understanding Syscoin 4 in 60 Seconds or Less! UPDATE ADDED!

By drlove | drlove | 13 Apr 2019

$3.69 (3.6554 DAI)

Syscoin 4, on test-net now and its release anticipated during Q2 of 2019 will provide a two-way bridge to Ethereum which will utilize the SYSX ERC-20 token to represent Syscoin ($SYS). While the Ethereum bridge is only the first of the bridges to be built by Syscoin 4, it will be the most significant for the foreseeable future.

The Syscoin 4 ecosystem will benefit from all of the tools present in the ETH/EVM ecosystem, including smart contracts, ERC-20 DEXs, while Ethereum will benefit from Syscoin (Z-DAG) which facilitates almost instant transactions supported by approximately 1,500 Syscoin nodes with transaction at substantially lower cost which is crucial for micro-tx - just remember how Crypto-Kitties disrupted the Ethereum network! See https://twitter.com/RaceredFree/status/1091656104407457793 for a recent calculation comparing the respective network fees!

UPDATE: Just a few days ago, on May 9, 2019, an excellent article was published that presents the case for Syscoin 4 as it solves Ethereum's scalability issues and the recently filed patent application for the Z-DAG technology by Blockchain Foundry Inc. / CTO of Syscoin Jag Sidhu that was announced on Bloomberg on May 8, 2019!

Syscoin 4 hardware requirements for nodes will increase substantially, but the additional costs for masternode hodlers will be more than offset by a 35% increase in rewards after one year, and a 100% increase after 2.5 years!

A hardware wallet developed by https://blockchainfoundry.co in partnership with https://www.archos.com will facilitate transfer of assets/tokens within seconds! There is a reason why the https://lode.one project is built on Syscoin after extensive research of all other chains!

The Syscoin 4 Ecosystem is composed of three layers:

Syscoin nodes talk to the EVM which enables interoperability, with ETH facilitating smart contract execution.

Syscoin Assets and tokens are secured by PoW, but speeded up by Z-DAG relay.

Syscoin base currency ($SYS) will be needed as gas throughout the whole ecosystem.

All the main components of the Syscoin platform which will see improvement with Syscoin 4 and includes the following:

Syscoin Identities for securely creating, accessing, storing, and controlling public and private identity information.

Syscoin Certificates addresses such ubiquitous documents like licenses, certificates, deeds, titles, tickets, digital documents, redemption codes, warranties and receipts.

Syscoin Arbitrated Escrow service that enable buyers and sellers to transact with confidence and assurance, as parties involved appoint a third-party to securely hold the buyer's tokens in escrow until the terms of a transaction are met.

Also on the roadmap is a marketplace that will be a fully functional, alternative to traditional centralized businesses, with the vision of a global e-commerce protocol.

Governance of Syscoin 4 calls for higher initial funding in the first years to help bootstrap additional projects and attract developers.

Syscoin 4 points to the future of blockchain development in general! The walls and divisions between various blockchain communities and projects are behind us and interoperability and bridges are the future. Chains will continuously evolve and develop unique features, connect and collaborate with other chains.

If you are not registered yet, please use this link to join publish0x.com to write your first post! https://www.publish0x.com/?a=gl9avyreG1

And, please visit https://syscoin.network/syslinks/  for an up-to-date list of links for the growing Syscoin platform, such as wallets, websites, support, downloads, blogs, media, dapps, collaboration and partnership announcements.

Blog drlove

Notes on a few topics

Author drlove

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.