Syscoin (SYS) is a Blockchain-as-a-Service (BaaS) platform that was founded in 2014 by Jag Sidhu, Sebastian Schepis, Dan Wasyluk and Sebastien Dimichele. The platform lists its technical performance, interoperability, security and low fees as the network’s main strengths.
The team describes the platform as “[bringing] you the tools you need to remove the middleman and take back control of the way you do business.” They have already outlined several possible use cases, like Point of Sale decentralized applications for stores and e-commerce platforms or even the creation of tokens.
BaaS platforms are growing in popularity because of the comprehensive and accessible blockchain development solutions they provide to small and medium businesses, who lack the resources of larger companies and are unable to develop solutions themselves. Most BaaS platforms offers comprehensive, easy to deploy blockchain solutions with minimal effort.
Other technical features worth noting about Syscoin are the Syscoin Bridge, its masternodes and zero confirmation transactions. Syscoin Bridge enables two-way bridge between Syscoin and other blockchains. The Ethereum blockchain is the first priority here, as it would allow Syscoin to interact with Ethereum’s smart contracts. Syscoin’s masternodes are based on blockchain project Dash’s code. Zero confirmation transactions allow for near real-time transactions.
The roadmap, last updated in April 2019, shows multiple milestones for 2019, many of which are nearing completion. The most of these is perhaps SYS4 1.0, which would enable smart contract execution. Ledger integration, blockchain swaps, several APIs and a hybrid permissioned/permissionless layer 2 blockchain are also on the agenda.