Thursday, July 24, 2014

SysCoin: A Scrypt Based Coin with an Augmented Blockchain Marketplace

Courtesy of SysCoin

SYS Accepted: 

SysCoin is a next generation cryptocurrency with an unique pre-sale model of distribution.  SysCoin team was able to partner with to act as a custom portal for investors to purchase SysCoin and at a later date exchange SysCoin on Moolah's V2 trading platform.  The pre-announcement was launched on April 27th, 2014 with the intent of fair sale distribution of 15% of the total coins for a total of 300,000,000 coins split between 2 sale phases.  The early bird special will allow investors to purchase their coins at a 10% discount rate of 465 satoshi until July 26th, 2014 or 465 bitcoin worth is sold.  After the early bird special ends, investors will be able to purchase coins at the regular rate of 518 satoshi until August 16th, 2014 or 1035 bitcoin worth is sold.  The open source software and coin distribution will be launched on August 16th, 2014 by fully transparent members of by the names of danosphere, sebastien1234, snipsnoop, jonn4y, mwheeleruk and Coderboo.  You may know the award winning team members from kittehcoin.  However, the core coin dev remains fully anonymous due to possible employer misconception.

As a special bonus to pre-sale investors, the SysCoin team is offering bonus swag with your purchase:

Tier One (Offered with a minimum 0.25BTC purchase:)
Hard Wallet Bronze
Syscoin Metal Keyring

Tier Two (Offered with a minimum 1BTC purchase):
Hard Wallet Silver
Syscoin Baseball Cap (One Size Fits All)
Syscoin Metal Keyring
Syscoin Phone Case (Specific Models) (iPhone 4,5,5c - Galaxy S3, S4,S5 - HTC One, X)

Tier Three (Offered with a minimum 5BTC purchase):
Hard Wallet Black
Syscoin Lanyard
Syscoin USB (32mb)
Syscoin Mousemat
Syscoin Baseball Cap (One Size Fits All)
Syscoin T-Shirt (S, M, XL, XXL)
Syscoin Metal Keyring
Syscoin Phone Case (Specific Models) (iPhone 4,5,5c - Galaxy S3, S4,S5 - HTC One, X)
OR iPad 2, iPad Air, Galaxy Note Tab 2, or 3 Hard Case


Hard Wallet: The Syscoin Hardwallet will come with your Public Key and a Unique QR Code that will link (upon scan) Via the Syscoin iPhone App, A base functionality of this would be for someone who wishes to pay you in Syscoin to simply scan your hard wallet to gain your address. The Wallet will also comes with a Unique Hologram of which will hold a 5 digit reference which along with your public address can be used to create an account on the Syscoin Website to gain additional features, bonus’ and benefits for current and future use. Hardwallets will be fully tracked and authorized to the particular user only.

Syscoin USB: A Standard USB 2.0 storage stick with a maximum memory of 32MB which can be used as a cold storage back up of the Syscoin Wallet, complete with lanyard.

*All products are branded with the Syscoin Official Logo and made using a Sublimation Technique, Fully Scratch / Fade Resistant.

SysCoin is an innovative altcoin that has the Scrypt proof of work algorithm and with a 60 second block timer.  There is a total of 2,000,000,000 coins with a block reward of 1,024 SYS, which halves on a fixed schedule until the block reward reaches 128 SYS.  SysCoin uses KGW to retarget difficulty and directly recycles transaction fees by regenerating them and redistributing them to the network miners as an incentive for continuous mining.  The premine is a total of 18%, which includes 15% for the pre-sale, 2% to the devs, and 1% to bounties and rewards.  The wallets will be publicized for transparency.

The concept behind SysCoin is innovation at its best rather than existing as just another cryptocurrency.  SysCoin brings an innovation that has never been done before which is integrating an financial infrastructure directly into the almighty blockchain.  The decentralized marketplace integrated into the blockchain will provide businesses and individuals the peace of mind of sensitive data security secured by the network.  SysCoin technology will also allow exchanging discrete data directly on the blockchain by acting as the third party guaranteeing verifiable authenticity.  SysCoin innovation does not stop there, the blockchain will also be used to issue unique certificates which can be authenticated by anyone using SysCoin's cryptographic proof of work.  The SysCoin also brings innovation to mining by being universally merge-mineable with all Scrypt coins by distributing coins to miners mining any other Scrypt coin.  

SysCoin is not your typical altcoin because no other altcoin dev team has been able to form a partnership with Moolah let alone do business on the blockchain.  There is a promising future for the SysCoin community, but the only drawback that may deter future investors from buying SYS would be if the SysCoin can deliver their promise and the anonymity of the core coin dev.  If you can ignore the risk of trusting the unforeseen technological future then you may find SysCoin to be a long term investment.

"Business on the Blockchain." - SysCoin

CoinsSource Trust Index:  7/7
Proof of Developer:  6/5

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