Syscoin is a multipurpose platform that uses blockchain technology. It is a global network, shared ledger, and a decentralized database. It is also a cryptocurrency, an altcoin, a digital currency. It is based on the Bitcoin protocol. It offers near zero cost financial transactions, high speed and provides businesses the infrastructure to trade goods, assets, digital certificates, and data securely. It is not just about money and trading it also attracts various business types like Medical applications, Insurance, and Gaming. Syscoin is permission less blockchain-based, and it is a smart contract based. In short, it is the AMAZON, eBay of the blockchain world.
Syscoin has traded 5.2% lower in opposition to the dollar during the 24hour period which ended at 8:00 AM ET on January 22nd. One Syscoin coin can currently be obtained for $0.0399 or 0.00001173 BTC on exchanges including Trade By Trade, Tux Exchange, Sistemkoin and Poloniex. In the past week, Syscoin traded 4.5% less against the dollar. Syscoin has a total market capitalization of $21.88 million and approx $131,358.00 value of Syscoin has been traded on exchanges in the last 24 hours.
Now we can see how the related cryptocurrencies performed in the past 24 hours:
- Litecoin (LTC) has traded down 4.1% against the dollar and now trades at $32.73 or 0.00961402 BTC.
- Dogecoin (DOGE) has traded down 0.5% against the dollar and now trades at $0.0019 or 0.00000056 BTC.
- Verge (XVG) has traded down 5.4% against the dollar and now trades at $0.0055 or 0.00000162 BTC.
- Bytom (BTM) has traded 2.2% lower against the dollar and now trades at $0.0750 or 0.00002201 BTC.
- Linkey (LKY) has traded down 1.5% against the dollar and now trades at $0.77 or 0.00022568 BTC.
- Polymath (POLY) has traded down 4.4% against the dollar and now trades at $0.0833 or 0.00002447 BTC.
- BridgeCoin (BCO) has traded up 16.8% against the dollar and now trades at $0.47 or 0.00013890 BTC.
- Matrix AI Network (MAN) has traded 1.9% higher against the dollar and now trades at $0.0698 or 0.00002050 BTC.
- FlorinCoin (FLO) has traded down 1.3% against the dollar and now trades at $0.0524 or 0.00000839 BTC.
- Einsteinium (EMC2) has traded down 2.2% against the dollar and now trades at $0.0349 or 0.00001026 BTC.
Syscoin is a proof-of-work (PoW) coin that is based on the Scrypt hashing algorithm.
Proof-of-Work, or PoW, is the original algorithm in a Blockchain network. In Blockchain, this algorithm is used to confirm the transactions and to produce new blocks to the chain.
Scrypt is a password-based key derivation function. It is the encryption method. This algorithm was specifically designed to make it costly to perform large scale custom hardware attacks by requiring large amounts of memory.
It was launched on April 27th, 2014. Syscoin’s total supply is 547,748,783 coins. Among the total, more than 2000 available cryptocurrencies listed in Coinmarketcap Syscoin (SYS) is in 122nd rank.
Syscoin can be obtained or sold on the following cryptocurrency exchanges: Sistemkoin, YoBit, Trade By Trade, Bittylicious, Binance, Bittrex, Livecoin, Upbit, Tux Exchange and Poloniex. It is difficult to purchase alternative cryptocurrencies like Syscoin directly using U.S. dollars. Investors wishing to trade Syscoin should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coin base or GDAX.