Syscoin (SYS) Metrics
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Syscoin (SYS)
What is Syscoin?
Syscoin (SYS) is a blockchain project launched in 2014 by a team led by Sebastian Schepis and others. It was created to facilitate decentralized commerce by combining the benefits of blockchain technology with traditional business practices. Syscoin operates on its own Layer 1 blockchain, utilizing a proof-of-work consensus mechanism that ensures security and transaction validation. The platform enables various functionalities, including the creation of digital assets, smart contracts, and decentralized marketplaces. Its native token, SYS, is primarily used for transaction fees, governance, and as a medium of exchange within the Syscoin ecosystem. Syscoin stands out for its unique integration of blockchain technology with traditional e-commerce features, such as the ability to issue and trade assets directly on the blockchain. This positions it as a significant player in the realm of decentralized finance and commerce, aiming to bridge the gap between conventional business and blockchain innovation.
When and how did Syscoin start?
Syscoin originated in 2014 when co-founders Jagdeep Sidhu and Chris Dannen released its whitepaper, outlining a blockchain platform designed to facilitate decentralized commerce. The project launched its testnet in early 2015, allowing developers to experiment with its features and functionalities. Following this, Syscoin's mainnet was officially launched in September 2015, marking its initial public availability. Early development focused on creating a robust infrastructure for decentralized marketplaces and integrating features such as asset creation and identity verification. The initial distribution of Syscoin tokens occurred through a fair launch model, where tokens were mined rather than sold through an initial coin offering (ICO) or other fundraising methods. This approach aimed to ensure a decentralized distribution among early adopters and participants in the network. These foundational steps established Syscoin as a significant player in the blockchain space, paving the way for its subsequent growth and ecosystem development.
What’s coming up for Syscoin?
According to official updates, Syscoin is preparing for the launch of Syscoin 4.0, which is planned for Q4 2023. This upgrade focuses on enhancing scalability and performance, introducing features such as a new consensus mechanism and improved interoperability with Ethereum. Additionally, Syscoin is working on expanding its ecosystem through partnerships and integrations aimed at increasing user adoption and utility. In the near term, Syscoin is also targeting the rollout of enhanced decentralized finance (DeFi) capabilities, which will allow users to create and manage decentralized applications more efficiently. These milestones are designed to improve the overall user experience and functionality of the Syscoin platform, with progress being tracked through their official roadmap and community updates.
What makes Syscoin stand out?
Syscoin distinguishes itself through its hybrid blockchain architecture, combining the benefits of both Layer 1 and Layer 2 solutions. This design enables high throughput and low transaction costs, making it suitable for various applications, including decentralized finance (DeFi) and non-fungible tokens (NFTs). Syscoin employs a unique consensus mechanism known as Proof of Stake (PoS) alongside its original Proof of Work (PoW) model, enhancing security and energy efficiency. The platform features integrated interoperability with Ethereum, allowing for seamless cross-chain transactions and the ability to leverage Ethereum's extensive ecosystem. Syscoin's ecosystem includes a marketplace for digital goods and services, providing a robust framework for businesses and developers. Additionally, its governance model empowers stakeholders to participate in decision-making processes, fostering a community-driven approach. Notable partnerships and integrations further enhance Syscoin's capabilities, positioning it as a versatile player in the blockchain landscape. Overall, Syscoin's combination of innovative technology, a diverse ecosystem, and community governance sets it apart in the competitive crypto space.
What can you do with Syscoin?
The SYS token serves multiple practical utilities within the Syscoin ecosystem. It is primarily used for transaction fees, enabling users to send value and interact with decentralized applications (dApps) built on the platform. Holders of SYS can participate in staking, which helps secure the network while allowing them to potentially earn rewards. Additionally, SYS token holders may engage in governance activities, such as voting on proposals that influence the development and direction of the Syscoin network. For developers, Syscoin provides a robust framework for building dApps and integrating various services. The ecosystem supports a range of applications, including decentralized finance (DeFi) solutions and non-fungible tokens (NFTs). Users can access various wallets that facilitate the storage and management of SYS tokens, while also benefiting from marketplaces that accept SYS for transactions. Overall, Syscoin offers a versatile platform for users, holders, validators, and developers alike, fostering a diverse range of activities and interactions within its ecosystem.
Is Syscoin still active or relevant?
Syscoin remains active and relevant, with significant developments and updates in 2023. The project announced the launch of Syscoin 4.0 in June 2023, which introduced enhanced features such as improved scalability and interoperability with Ethereum. This upgrade reflects ongoing efforts to innovate and adapt within the blockchain space. The Syscoin ecosystem continues to grow, with active governance proposals and community engagement. Recent governance events indicate a commitment to decentralization and community-driven decision-making. Additionally, Syscoin has maintained partnerships with various projects and platforms, enhancing its utility and integration within the broader blockchain ecosystem. Trading volume and market presence remain stable, with Syscoin listed on multiple exchanges, ensuring accessibility for users and investors. These indicators collectively support Syscoin's continued relevance in the blockchain and cryptocurrency sectors, demonstrating its active role in the evolving landscape.
Who is Syscoin designed for?
Syscoin is designed for developers and enterprises, enabling them to build and deploy decentralized applications and services. It provides a robust infrastructure that supports various use cases, including e-commerce, asset tokenization, and supply chain management. The platform offers tools and resources such as SDKs and APIs, which facilitate the integration of blockchain technology into existing systems and applications. Secondary participants, including validators and liquidity providers, engage with Syscoin through staking and governance mechanisms, contributing to the network's security and decision-making processes. This collaborative environment fosters innovation and allows users to leverage Syscoin's capabilities for their specific needs, whether they are creating new applications or enhancing existing business models. By catering to both primary and secondary user groups, Syscoin aims to create a comprehensive ecosystem that supports a wide range of blockchain-based solutions.
How is Syscoin secured?
Syscoin employs a hybrid consensus mechanism that combines Proof of Work (PoW) and Proof of Stake (PoS) to secure its network. In this model, miners validate transactions and create new blocks through PoW, while stakers participate in the network's governance and can earn rewards by locking up their Syscoin tokens. This dual approach enhances security and decentralization, as it allows for both computational power and economic incentives to maintain network integrity. The protocol utilizes cryptographic techniques such as Elliptic Curve Digital Signature Algorithm (ECDSA) for authentication and ensuring data integrity. This ensures that transactions are securely signed and verified, preventing unauthorized access or tampering. Incentives are aligned through mining rewards for PoW participants and staking rewards for PoS participants, promoting active participation in the network. Additionally, Syscoin incorporates governance mechanisms that allow stakeholders to influence protocol decisions, further enhancing security and adaptability. Regular audits and a focus on multi-client diversity contribute to the overall resilience of the network against potential vulnerabilities and attacks.
Has Syscoin faced any controversy or risks?
Syscoin has faced some controversy related to its security and technical aspects. In 2019, the project experienced a significant incident involving a vulnerability in its code that allowed for double-spending attacks. This issue was identified and addressed promptly by the development team, who released a patch to rectify the vulnerability. The team communicated transparently with the community throughout the incident, ensuring that users were informed about the risks and the steps being taken to mitigate them. Additionally, Syscoin has navigated regulatory scrutiny, particularly concerning compliance with various jurisdictions' laws. The project has made efforts to align with regulatory standards, which included engaging with legal experts to ensure adherence to applicable regulations. Ongoing risks for Syscoin include potential market volatility and the inherent technical risks associated with blockchain technology, such as smart contract vulnerabilities. The team continues to implement best practices in development, conduct regular audits, and maintain open lines of communication with the community to address any emerging concerns.
Syscoin (SYS) FAQ – Key Metrics & Market Insights
Where can I buy Syscoin (SYS)?
Syscoin (SYS) is widely available on centralized cryptocurrency exchanges. The most active platform is Binance Futures, where the SYS/USDT trading pair recorded a 24-hour volume of over $699 775.82. Other exchanges include Binance and XT.
What's the current daily trading volume of Syscoin?
As of the last 24 hours, Syscoin's trading volume stands at $3,685,584.21 , showing a 20.94% decline compared to the previous day. This suggests a short-term reduction in trading activity.
What's Syscoin's price range history?
All-Time High (ATH): $1.32
All-Time Low (ATL): $0.000199
Syscoin is currently trading ~98.91% below its ATH
and has appreciated +15,335% from its ATL.
What's Syscoin's current market capitalization?
Syscoin's market cap is approximately $11 969 224.00, ranking it #885 globally by market size. This figure is calculated based on its circulating supply of 833 732 458 SYS tokens.
How is Syscoin performing compared to the broader crypto market?
Over the past 7 days, Syscoin has gained 8.80%, outperforming the overall crypto market which posted a 2.57% gain. This indicates strong performance in SYS's price action relative to the broader market momentum.
Trends Market Overview
#2102
250.07%
#1192
178.87%
#567
108.42%
#862
48.79%
#822
45.55%
#1932
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#2565
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#1196
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#460
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#1301
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#11
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#8255
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Syscoin Basics
| Whitepaper |
|---|
| Development status | Working product |
|---|---|
| Org. Structure | Semi-centralized |
| Open Source | Yes |
| Consensus Mechanism | Auxiliary Proof of Work |
| Algorithm | SHA256 |
| Started |
15 August 2014
over 11 years ago |
|---|
| Website | syscoin.org |
|---|
| Source code | github.com |
|---|---|
| Asset type | Coin |
| Explorers (5) | blockbook.elint.services chainz.cryptoid.info explorer.blockchainfoundry.co explorer.rollux.com |
|---|
| Tags |
|
|---|
| syscoin | |
| Faq | syscoin.org |
| reddit.com |
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Syscoin Markets
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
How to use it?
By default Market depth is showing the most liquid markets sorted by Combined Orders (which is a sum of buy and sell orders). This way it provides the most interesting information already. Left (green) side of the market depth bar is showing how many buy orders are open, and right (red) side of the bar is showing how many sell orders are open (both can be recalculated to BTC, ETH or any fiat we have available on the site).


Confidence
Due to rampant malicious practices in the crypto exchanges environment, we have introduced in 2019 and 2020 new ways of evaluating exchanges and one of them is - Confidence. Because it's a new metric - it's essential to know how it works.
Confidence is weighted based on 3 principles:
Based on the liquidity from order books (75%) - including overall liquidity and market depth/volume ratio, volumes included, if exchange is low volume (below 2M USD volume 24h)
Based on web traffic (20%) - using Alexa rank as a main indicator of site popularity
Based on regulation (5%) - researching and evaluating licensing for exchange - by respective institutions
Adding all of these subscores give overall main result - Confidence
Confidence is mainly based on liquidity, because it's the most important aspect of cryptocurrency exchanges. Without liquidity there is no trading, illiquid markets tend to collapse in the long term. Besides liquidity - there is also an additional factor in calculation of score - market depth/volume ratio. If volume is huge (especially when it’s growing much faster than liquidity), and market depth seems to not keep pace with - it's reducing overall score. Exchanges that keep market makers liquidity with expanding volume are those that keep all ratios in-tact and have overall score above 75-80% (it means that they have all liquidity ratios above minimum requirements, high web traffic participation, and are often regulated).
Other coins worth interest - similar to Syscoin
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin BTC | $1 408 540 097 789 | $70 463.64 | $75 879 754 220 | 19,989,603 | |||
| 2 | Ethereum ETH | $252 076 952 486 | $2 093.20 | $36 720 553 165 | 120,426,316 | |||
| 4 | XRP XRP | $96 379 048 236 | $1.58 | $3 181 163 873 | 60,917,315,351 | |||
| 5 | BNB BNB | $88 809 016 399 | $638.07 | $669 583 988 | 139,184,442 | |||
| 7 | Solana SOL | $51 135 313 889 | $90.03 | $2 893 692 545 | 567,957,851 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 294 | Concordium CCD | $95 415 755 | $0.008677 | $439 120 | 10,995,854,616 | |||
| 601 | Civic CVC | $28 634 234 | $0.035704 | $1 197 861 | 802,000,010 | |||
| 637 | CyberConnect CYBER | $25 138 571 | $0.593570 | $6 346 680 | 42,351,450 | |||
| 747 | Metadium META | $17 827 908 | $0.010465 | $6 895 565 | 1,703,608,720 | |||
| 810 | Intuition TRUST | $14 747 564 | $0.082092 | $1 013 754 | 179,647,832 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 46 | Aave AAVE | $1 977 137 150 | $131.17 | $316 515 878 | 15,073,211 | |||
| 105 | Aave LEND | $488 565 833 | $1.31 | $1 284.02 | 373,380,206 | |||
| 204 | OriginTrail TRAC | $180 736 747 | $0.361477 | $1 168 146 | 499,995,033 | |||
| 283 | Akash Network AKT | $100 887 242 | $0.350212 | $3 259 711 | 288,074,472 | |||
| 349 | Arkham ARKM | $71 591 533 | $0.125923 | $57 189 847 | 568,532,082 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin BTC | $1 408 540 097 789 | $70 463.64 | $75 879 754 220 | 19,989,603 | |||
| 2 | Ethereum ETH | $252 076 952 486 | $2 093.20 | $36 720 553 165 | 120,426,316 | |||
| 5 | BNB BNB | $88 809 016 399 | $638.07 | $669 583 988 | 139,184,442 | |||
| 7 | Solana SOL | $51 135 313 889 | $90.03 | $2 893 692 545 | 567,957,851 | |||
| 8 | TRON TRX | $24 343 583 088 | $0.281874 | $479 544 589 | 86,363,298,503 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 27 | Zcash ZEC | $5 097 577 178 | $312.19 | $748 953 625 | 16,328,269 | |||
| 58 | Near Protocol NEAR | $1 280 749 032 | $1.080650 | $167 368 318 | 1,185,165,436 | |||
| 120 | Lighter LIT | $423 748 857 | $1.69 | $23 354 968 | 250,000,000 | |||
| 147 | Immutable X IMX | $311 403 258 | $0.176101 | $34 474 205 | 1,768,317,543 | |||
| 182 | Polygon MATIC | $214 795 856 | $0.112236 | $165 614 | 1,913,783,718 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 11 | Cardano ADA | $11 471 714 434 | $0.298502 | $613 907 724 | 38,430,919,444 | |||
| 33 | Avalanche AVAX | $4 086 859 719 | $9.68 | $253 320 881 | 422,275,285 | |||
| 34 | Sui SUI | $3 978 117 117 | $1.034305 | $571 326 346 | 3,846,172,527 | |||
| 46 | Aave AAVE | $1 977 137 150 | $131.17 | $316 515 878 | 15,073,211 | |||
| 54 | Ethereum Classic ETC | $1 413 185 109 | $9.09 | $97 780 676 | 155,537,728 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 2 | Ethereum ETH | $252 076 952 486 | $2 093.20 | $36 720 553 165 | 120,426,316 | |||
| 5 | BNB BNB | $88 809 016 399 | $638.07 | $669 583 988 | 139,184,442 | |||
| 7 | Solana SOL | $51 135 313 889 | $90.03 | $2 893 692 545 | 567,957,851 | |||
| 8 | TRON TRX | $24 343 583 088 | $0.281874 | $479 544 589 | 86,363,298,503 | |||
| 11 | Cardano ADA | $11 471 714 434 | $0.298502 | $613 907 724 | 38,430,919,444 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin BTC | $1 408 540 097 789 | $70 463.64 | $75 879 754 220 | 19,989,603 | |||
| 10 | Dogecoin DOGE | $17 142 829 293 | $0.114939 | $2 366 488 075 | 149,147,696,384 | |||
| 12 | Bitcoin Cash BCH | $11 191 896 701 | $563.38 | $320 046 102 | 19,865,787 | |||
| 20 | Monero XMR | $6 509 207 292 | $352.86 | $118 499 032 | 18,446,744 | |||
| 27 | Zcash ZEC | $5 097 577 178 | $312.19 | $748 953 625 | 16,328,269 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin BTC | $1 408 540 097 789 | $70 463.64 | $75 879 754 220 | 19,989,603 | |||
| 12 | Bitcoin Cash BCH | $11 191 896 701 | $563.38 | $320 046 102 | 19,865,787 | |||
| 132 | Bitcoin SV BSV | $358 240 854 | $17.92 | $29 912 023 | 19,988,812 | |||
| 336 | DigiByte DGB | $75 398 693 | $0.004154 | $2 361 053 | 18,149,449,605 | |||
| 841 | Elastos ELA | $13 316 216 | $0.596009 | $668 513 | 22,342,297 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin BTC | $1 408 540 097 789 | $70 463.64 | $75 879 754 220 | 19,989,603 | |||
| 31 | Litecoin LTC | $4 254 143 431 | $56.30 | $401 929 934 | 75,558,487 | |||
| 4151 | Groestlcoin GRS | $1 232 030 | $0.014267 | $15.21 | 86,353,744 | |||
| 4605 | Bitcoin Atom BCA | $801 899 | $0.043537 | $63.34 | 18,418,931 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 102 | Dash DASH | $518 315 781 | $41.18 | $163 051 061 | 12,587,937 | |||
| 268 | Horizen ZEN | $107 873 165 | $6.63 | $27 798 328 | 16,276,188 | |||
| 590 | FLUX FLUX | $29 555 916 | $0.073473 | $1 997 066 | 402,266,954 | |||
| 837 | Firo FIRO | $13 510 921 | $0.940586 | $200 695 | 14,364,362 | |||
| 1006 | PIVX PIVX | $8 697 648 | $0.098876 | $1 699 085 | 87,964,829 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin BTC | $1 408 540 097 789 | $70 463.64 | $75 879 754 220 | 19,989,603 | |||
| 10 | Dogecoin DOGE | $17 142 829 293 | $0.114939 | $2 366 488 075 | 149,147,696,384 | |||
| 12 | Bitcoin Cash BCH | $11 191 896 701 | $563.38 | $320 046 102 | 19,865,787 | |||
| 20 | Monero XMR | $6 509 207 292 | $352.86 | $118 499 032 | 18,446,744 | |||
| 27 | Zcash ZEC | $5 097 577 178 | $312.19 | $748 953 625 | 16,328,269 |
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
What is showing Historical Market Depth?
Historical Market Depth is showing the history of liquidity from the markets for a given asset. It’s a measure of combined liquidity from all integrated markets on the coinpaprika’s market depth module.
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