What is Syscoin?

The first thing I wanna say about Syscoin is their website is a bit slow. Maybe it’s just me, slow network, but I thought it was worth mentioning. The goal, according to their whitepaper, is to combine the best of both worlds (Ethereum and Bitcoin) to build a network on which you can buil Web 3.0 applications.

In plain English, from what I gather, they want to use the security of Bitcoin with the addition of scalable Smart Contracts. They aim to provide a trifecta of options: a token platform, a blockchain and a development platform. To me, it kinda sounds like they’re trying to build a jack-of-all-trades platform that users can use for anything and everything but I’ll be honest, I’m still not sure I understand its potential to its full extent so any help in the comments would be greatly appreciated.

At the time of writing, Syscoin has a circulating supply of 632+ bln SYS, equating to around 71% of the max supply, with a $535 mln market cap. The price is $0.855663 and it is available on a few minor exchanges as well as a few major exchanges such as Binance.

The reason I became interested in Syscoin is I’ve begun using one of those faucets/platforms – one of the few that vaguely make sense – and Syscoin is my favourite payout option. I won’t be paying bills like this anytime soon but I expect to buy a few beers a week with the coins I make within a month and it’s a great way to gain exposure to new assets, pretty much for free. Go check it out if you want, it’s free.

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