Syscoin (SYS)

Payments and Transactions

Syscoin is used for near-zero-fee payments and as the gas fee for all transactions on its network. It supports very fast transaction speeds, handling up to 60,000 transactions per second.

Token Creation and NFTs

Syscoin tokens are burned to create new tokens or NFTs on the platform. This makes it easy and cheap to issue custom tokens for things like loyalty points, assets, or currencies backed by services.

Masternodes and Staking

Holding 100,000 SYS allows users to run a masternode, which helps secure the network and earns rewards with about a 6% annual return, plus bonuses for longer holding.

Blockchain Features and Development

Syscoin combines Bitcoin’s security with Ethereum-compatible smart contracts and ZK-Rollups for scalability. It supports decentralized applications (dApps), marketplaces, identity services, and cross-chain interoperability.

Enterprise and Use Cases

Businesses can use Syscoin for e-commerce, decentralized marketplaces, point-of-sale systems, and tokenized asset management. Its platform offers secure, scalable, and low-cost blockchain solutions for various industries.

Network and Security

Syscoin uses merge-mining with Bitcoin, leveraging Bitcoin’s security while providing a scalable data availability layer for rollups and other scaling solutions. This makes it a strong base for Web3 applications.

For more details, visit syscoin.org.

Advantages

• Speed and Scalability: Syscoin offers fast transaction times and can handle a large number of transactions per second.
• Low Fees: Transaction costs on Syscoin are generally low, making it affordable for users.
• Security: It uses a combination of Bitcoin’s security and its own blockchain, providing strong protection.
• Token Flexibility: Syscoin supports creating and managing tokens easily, useful for businesses and developers.
• Interoperability: It can work with other blockchains, allowing for more versatile use cases.

Disadvantages

• Adoption: Syscoin is less well-known compared to major cryptocurrencies, which might limit its use.
• Complexity: Some features may be harder for beginners to understand and use.
• Development Pace: Updates and new features may come slower than in some other projects.
• Market Volatility: Like most tokens, Syscoin’s price can change quickly, affecting investment value.

Founders of Syscoin

• Sebastian Schepis: Created Syscoin in 2014. He previously co-founded the company behind the Oracle Project Manager and has consulted for major corporations like Bank of America and Lockheed-Martin.
• Jagdeep Sidhu: Co-founder and current President and Lead Developer of the Syscoin Foundation.
• Sébastien DiMichele: Also a co-founder who played a key role in communications and development during Syscoin's early days.

These founders helped build Syscoin as a Bitcoin-based blockchain platform combining features from Bitcoin and Ethereum.

Institutional Investors

Syscoin has at least one known institutional investor called Buks Capital.

Venture Capital and Partnerships

BNBswap Ventures is a venture capital arm that has partnered with Syscoin to provide funding and marketing support for projects within the Syscoin ecosystem.

Community and Development Contributors

Syscoin is an open-source project supported by a growing list of development teams and contributors who help build and improve the network.

Leadership and Foundation

The project is led by the non-profit Syscoin Foundation, with board members including Jagdeep Sidhu (President and Lead Developer) and Michiel Näring (Vice President), who guide its development and community efforts.

For more details, you can visit the official website: syscoin.org

Halal Status of Syscoin

• Yes, Syscoin is generally considered halal.
• It operates without interest-bearing mechanisms or prohibited activities under Islamic law.
• Its revenue comes from transaction fees used to reward miners and support network operations, which aligns with halal business practices.
• However, individual confirmation with a qualified Islamic scholar is recommended for personal assurance.