Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone! Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers. With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today. In simple terms think Dash + Ethereum/Lisk + Monero + Nano + Storj + Particl capabilities all in one coin!
The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources. Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release. Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias. The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain. The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.
The Team that NEVER quits! Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here:http://www.coindesk.com/uk-court-syscoin-injunction-moolah-750-btc/. What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF. View Team Page.
Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth! Blockmarket Desktop was launched on September 12, 2017. Download Blockmarket Desktop 1.2
Key Blockmarket Features
- Decentralized Marketplace
The marketplace platform provides a decentralized and high redundant channel for selling goods and services. Features include: • Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC • Bitcoin and Zcash as payment options • Arbitrated Escrow • Encrypted Messaging • KYC/AML Compliance • Images • Unlimited Inventory Items
- Name Aliases
Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.
- Digital Certificates
Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.
- Integrated Exchanges
Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.
- Security Audit Verified
Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. View Audit Results.
Blockmarket Desktop – Quickstart Tutorials (16 short vids)
BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in Q1 2018. This launch will be accompanied by a marketing campaign roll-out that seeks to build brand recognition with audiences within the existing crypto ecosystem and more significantly with the broader, global, non-crypto audience. For this reason Ballistic Arts, a full-service marketing agency was retained by BF. BF Engages Marketing Agency
Primary Target Market + Value Potential
The primary target market for BF’s Syscoin/Blockmarket web flagship is the retail e-commerce industry. This sets up their decentralized marketplace to rival such commercial giants as Amazon ($648B market cap), Alibaba ($453B market cap) and eBay ($43B market cap). According to eMarketer’s Worldwide Retail and Ecommerce Sales report, global retail e-commerce sales for 2017 were $2.3 Trillion. This is expected to reach an estimated $4 Trillion by 2020 reflecting the rapid growth within this sector. To perform a very simple assessment of the Syscoin/Blockmarket web’s potential let’s assume that a 1% portion of the forecasted $4 trillion market is captured, which represents $40 billion in revenue. Assuming a sales to market cap ratio of 1:1 for simplicity, the circulating supply of 531 million SYS, with a $40 billion market cap yields a price of roughly $75 per coin. However, with masternodes that limit the circulating supply and token utility that extends beyond retail e-commerce, the SYS price could likely reach much higher. Please note that these are just very simple assumptions and projections for this exercise, however the real world driven potential that this project has is clearly evident.
Key Syscoin Developments
- Z-DAG: Zero Confirmation Transactions with Double Spend Protection (WORLD’S FIRST)
Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc). In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized.
Scalable Ethereum Virtual Machine: Allows Turin complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.
- Assets & Token Issuance
With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.
- Anonymous Transactions
Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin. This brings true money fungibility to Syscoin and the missing link for true economic sovereignty. View Developer’s Twitter post.
- Instant Send
Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.
If you need help for an important wallet issue or if you want to know how you can contribute in promoting Syscoin Join the Slack channel where the SYS team and community members are active, helpful and responsive.
SYS Team - keyare, sidhujag, sebastien123
Redditor alias - djminger007
Redditor alias – Todoruku
Twitter alias – CryptoMink
Medium blogger – Steven Voros
Medium blogger – Daniel Westby
Medium blogger – The Crypto Journal
Slack Community members – Redrace, Mettamark, Rare and Viljis
This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
Maverick System is a BAAS(Blockchain As A Service) platform which as a public chain connects two-way circulation between traditional assets and digital assets. Mavericks Chain provides an overall technical solution for the distribution of traditional assets in the digital currency market through a blockchain and smart contract agreements, including asset conversion, issuance, trading, and right determination. Developers can use Maverick Chain's multi-chains-supported SDK solution to make development much easier. With Maverick System SDK, developers can create their own apps smoothly and convert their traditional applications into a blockchain application within a few clicks. Maverick System will also launch it's own crypto/asset trading platform and ico platform - ttbtc.com (under development, would be released very soon! See github for updates)
Digitalization of traditional Assets:
Traditional Assets include various types of entities/financial assets such as real estate, options, bonds, and inventory, unlisted company equity etc. Through the digitalized trading of traditional assets, ordinary investors can invest in holding assets around the world. The Assets Auditing and Management Department of the Mavericks Community will be responsible for the due diligence of assets and carefully review the assets on the line for the effectiveness and integration of assets. Regulatory endorsement: After going online, the traditional asset’s subject matter has a detachable character. If an investor is optimistic about an asset without having to hold full ownership of the asset, investors on the exchange can subscribe for a certain share of ownership of an asset, and then the proportion of shares is obtained from the dividends and assets appreciation of the assets. The collaborative work of the Maverick Chain and asset exchanges meets the needs of investors for global investment and decentralized investment, and greatly facilitates investor's investment in global assets, simplifies processes, and significantly lowers the global asset allocation threshold. Advantages of this Architecture: Under this architecture, asset owners can directly access asset data without the need for traditional intermediate service agencies, thereby significantly improving efficiency and saving costs. The transaction of assets can be automatically completed by writing smart contracts in advance according to automatically executed business processes and rules, thereby further reducing transaction management costs.
Another feature of Maverick System is compatibility with "smart contract": It is a system that can automatically transfer digital assets based on rules or conditions arbitrarily formulated. In other words, it is a block chain with well-developed Turing-complete built-in languages that can code any status or condition and it also can create contracts to ensure the automatic execution of transactions.
Concept and mission
Powering the Internet of value.
The birth of blockchain makes our Internet evolve from information network to value network. We strongly believe that Maverick System will play an important role in this evolution.
Making development & trading of Blockchain assets easier.
Providing BAAS (Blockchain as a service) Blockchain SDK solution to make development much easier. With Maverick System SDK, developers can create their own Blockchain APP smoothly. Maverick System will launch its own trading system to provide a trading platform for such assets.
The three-stage-rocket product structure: Chain + SDK + Trading platform
Public Chain: It exists as an infrastructure, such as Ethereum；SDK: We will pack the functionality of various chains into SDK to be developed easily according to application scenarios, transfer the traditional information internet products into a Blockchain products on the value internet rapidly. Trading platform: All assets using our Blockchain SDK can be traded on our exchange platform ttbtc.com (under development).
Secure & Efficient Blockchain Service
Maverick Chain will make your blockchain APP development much easier. With only several steps you can easily transform your traditional APP into a blockchain APP.
The Maverick System team includes a group of specialists in the integration of Blockchain and Internet. Our community contains a lot of investing elites, top developers and Media elites. All members of our team have great faith in blockchain technology and strongly believe that Blockchain is the future of Internet. Our project is strongly supported by the most important Blockchain early investors & venture capital in China. The Maverick System team has participated the Arena of ICO university held by Mr. Chandler Guo and won the champion from 22 ICO projects. Guo Hongcai is the founder of ICO University, and a well-known angel investor in the Blockchain industry and has unique insights on the t rend of global cryptocurrency trading and rich information resources. Chandler Guo is Angel investor and adviser in Bitcoin and Ethereum startups Bitangel including Btc123.com Bitbank.com Bw.com Bitfund.pe Richfund.pe bither.net okcoin.com huobi.com bter.com
Bytom (BTM) Maverick Chain has a partnership with Bytom (BTM). Maverick Chain will apply protocal layer technology of Bytom for SDK development. Facts about Bytom - It's by the founder of 8btc - Chang Jia. 8btc is one of the biggest crypto forum in china. Bytom is an interactive protocol of multiple byte assets. Bytom adopts AI friendly POW algorithm and BUTXO which means safety and environmental friendly --A real decentralization. Source 1Source 2 Metaverse (ETP) Maverick Chain has a partnership with Metaverse (ETP). Metaverse Foundation has invested in the Maverick Chain project. Maverick Chain will cooperate deeply on the BaaS (Blockchain As A Service) platform in the future. Metaverse is by the co-founder of Neo - Eric Gu who left Neo to start a better blockchain - Metaverse. Metaverse combines Chainlink, NEO and CIVIC together into one business-friendly platform. There is currently 60 staff working on Metaverse. Source Riding Assistant App Maverick Chain has a partnership with one of the most popular riding apps in China - "Riding assistant" having more than one million users. The developer team will use Maverick SDK to add block chain function in the APP and will release crypto currency"Riding Coin". Commercial Satellite Startup Jiutian MSI Maverick Chain founder, Li Mingzhao, has confirmed that the Mavericks chain has established a cooperative relationship with commercial satellite startup Jiutian MSI. Both parties will work together to explore the application of blockchain in the commercial satellite field. Source
Maverick Chain CEO gave a speech in Finwise Global Summit 2018 held on Jan 12 2018 Maverick CEO participated in "China Blockchain Innovation Summit" held by Bytom on 21 De7 2018
Q. What is the total and circulating supply for MVC? A. Total supply: 200 million Circulating supply: 100 million Q. What gives MVC it's value? A: MVC can be used to pay:
The fee to use the Maverick system SDK
Exchange fee of the future trading platform ttbtc.com
Participate the ICO projects on ttbtc.com and icolist.com
Our exchange platform and ICO platform TTBTC.com will use 30% of it's profit to purchase MVC and destroy them which makes MVC a deflation currency.
Q. When was the ICO? What was the ICO price? A. Maverick Chain ICO Happened in 3 rounds
Early Bird (Aug 8-15): 1 BTC 50,000 1 ETH 4000
First Round (Aug 15-30): 1 BTC 48,000 1 ETH 3800
Second Round (Aug 30-Sep15): 1 BTC 45,000 1 ETH 3500
Q. Why can't I find much information on this coin? Maverick Chain community is Chinese and they haven't tapped much into the western market yet. The Chinese name for Maveric Chain is - 小牛链. MVC is very popular in the Chinese market by that name but now that it finally got added to CoinMarketCap and also to a decently big western exchange - CoinEgg.com, the western market will catch up pretty fast. Also, any current or future china ban does not apply for Maverick Chain as Maverick Foundation is based in Singapore and not China.
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