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Syscoin SYS Price

$0.071

10.68%

$0.064

24h Range

$0.073

Market Cap

$57,339,772.9

Fully Diluted Valuation

$57,339,772.9

24 Hour Trading Vol

$2,744,334.0

Circulating Supply

805,226,921.8

Total Supply

805,226,921.8

Max Supply

Info

SYS Price Statistics

Syscoin Price

$0.071

24h Range

$0.064 - $0.073

Percent Change 1h

-1.19%

Percent Change 24h

10.68%

Percent Change 7d

-14.39%

All-time high

$1.30

All-time low

$0.000210

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About Syscoin

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What is Syscoin (SYS)?

Syscoin (SYS) is a blockchain platform that combines the advantages of both Bitcoin and Ethereum to offer a robust environment for decentralized applications (dApps) and digital assets. Launched in 2014, Syscoin provides features like asset creation, tokenization, and a marketplace for goods and services. The platform is designed to facilitate fast, secure, and low-cost transactions, making it ideal for businesses and developers looking to leverage blockchain technology. As of 2024, Syscoin has evolved significantly, incorporating features like ZK-Rollups for enhanced scalability and privacy, positioning itself as a powerful alternative in the crypto ecosystem.

Who are the Founders of Syscoin?

Syscoin was founded by a team of blockchain enthusiasts, including Sebastian Schepis, Jagdeep Sidhu, and Rami Kawach. The project started as a fork of Bitcoin but quickly advanced to include smart contracts and a decentralized marketplace. The founders aimed to create a platform that empowers users to create and trade digital assets while maintaining the security and reliability of blockchain technology. The team's collective expertise in software development, cryptocurrency, and business has been instrumental in Syscoin's growth and adoption.

How does Syscoin Work?

Syscoin operates on a dual-layer architecture that integrates both a base layer and a secondary layer for enhanced functionality. Its consensus mechanism is a combination of Proof of Work (PoW) and a unique feature called "Merged Mining", which allows miners to mine Syscoin alongside Bitcoin without additional energy costs. This helps secure the network while reducing the energy consumption typically associated with PoW systems.

The platform enables users to create and trade digital assets and tokens through its asset creation feature. Smart contracts on Syscoin allow for automated transactions and decentralized applications, similar to Ethereum. Moreover, the implementation of ZK-Rollups enhances scalability by processing transactions off-chain while ensuring privacy and security on the main chain.

Top Use Cases of Syscoin

  • Decentralized Marketplaces: Syscoin's marketplace feature allows users to buy and sell goods and services directly, reducing reliance on centralized platforms.
  • Tokenization: Businesses can create their own tokens on Syscoin for various purposes, such as fundraising or loyalty programs.
  • Remittances: Syscoin provides low-cost cross-border payment solutions, making it easier for users to send money globally.
  • Smart Contracts: The platform supports complex agreements and automated processes through smart contracts, useful for various industries.
  • Decentralized Finance (DeFi): Syscoin is increasingly being adopted for DeFi applications, providing users with lending, borrowing, and yield farming opportunities.

How to Keep your Syscoin Safe?

To ensure the safety of your Syscoin (SYS), follow these best practices:

  • Use a Hardware Wallet: Hardware wallets like Ledger or Trezor provide offline storage for your cryptocurrencies, making them less vulnerable to hacks.
  • Enable Two-Factor Authentication: If using exchanges or online wallets, enable 2FA to add an extra layer of security.
  • Keep Software Updated: Regularly update your wallet software and operating systems to protect against vulnerabilities.
  • Be Wary of Phishing Scams: Always verify the authenticity of websites and links before entering your information.
  • Backup Your Wallet: Keep a secure backup of your wallet seed phrase or private keys in a safe place.
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How to Invest in Syscoin (SYS)?

Investing in Syscoin (SYS) or any other cryptocurrency involves several steps:

1Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.

2Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.

3Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.

4Buy Syscoin: Once your account is funded, you can purchase Syscoin directly from the exchange. Choose the desired amount and complete the transaction.

Investing in Syscoin (SYS) Using Botsfolio:

Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in Syscoin using Botsfolio, follow these steps:

  • Create a Botsfolio Account: Sign up for a free account on the Botsfolio platform.
  • Create Portfolio: Select an investment type from available options such as Premade crypto portfolios OR Custom crypto portfolio.
  • Connect Your Exchange: Link your chosen cryptocurrency exchange account to Botsfolio through fast connect or API key to enable seamless investing.

Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.

What is the Price Prediction for Syscoin (SYS) in the Long Term?

Syscoin (SYS) is currently trading at $0.071 and exhibits good potential for future growth. Check the latest Syscoin (SYS) price prediction.

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