Syscoin Price(SYS)

Syscoin (SYS) is a unique blockchain platform that combines the security of Bitcoin with the smart contract functionality of Ethereum. It features a dual Layer 1 architecture with UTXO and NEVM chains, as well as a Layer 2 rollup solution called Rollux for scalability and cost efficiency.

Syscoin's key features include the UTXO and NEVM chains, offering a unique blend of Bitcoin-level security and Ethereum-compatible smart contracts. The UTXO chain, based on Bitcoin's model, provides high security and supports Syscoin Platform Tokens (SPTs) with Z-DAG technology for fast and cost-efficient transactions. The NEVM chain enables smart contracts and DApps with EVM compatibility, using a PoW validation model for enhanced security. Additionally, Syscoin's Layer 2 Rollux solution offers scalability and low-cost transactions for both chains. Merged mining with Bitcoin enhances security, while Sentry Nodes provide additional network stability.

Syscoin's Layer 2 Rollux solution enhances scalability and transaction efficiency by providing a low-cost, highly scalable environment for transactions on both the UTXO and NEVM chains. Rollux, an optimistic rollup, leverages the UTXO chain's data availability layer to offer secure, efficient transactions with fees as low as fractions of a cent and confirmation times of just two seconds. By utilizing merged mining with Bitcoin, Syscoin benefits from the security of Bitcoin miners, with up to 60% of the network's hash power contributed by them.

Merged mining with Bitcoin allows Syscoin to benefit from the security of Bitcoin's vast network of miners, with up to 60% of its hash power coming from them. This significantly enhances Syscoin's security, making it less vulnerable to hostile takeovers. By leveraging Bitcoin's security features, Syscoin can offer a unique combination of Bitcoin-level security, Ethereum-compatible smart contracts, and a highly scalable Layer 2 rollup solution called Rollux. This trifecta of security, flexibility, and scalability sets Syscoin apart in the blockchain space, making it an attractive platform for DApp developers and users.

Sentry Nodes in the Syscoin ecosystem are crucial in enhancing network security, stability, and governance. While not involved in block production, Sentry Nodes provide an additional layer of decentralization to the network. Incentivized by rewards in SYS tokens, these nodes earn rewards for their participation, with newer nodes receiving 52.91 SYS per block generated and more experienced nodes earning double that amount. By rewarding Sentry Nodes for their work, Syscoin ensures a robust and secure network environment, leveraging the decentralized power of these specialized participants alongside miners.

The programming language used for smart contracts on Syscoin's NEVM chain is Solidity. Solidity is the most popular programming language used within the Ethereum ecosystem and is compatible with the Ethereum Virtual Machine (EVM). Syscoin's NEVM chain offers EVM compatibility, allowing developers to easily migrate existing DApps to and from other chains that support the EVM. Smart contracts on the NEVM chain are written in Solidity, making the development process familiar for blockchain developers. This compatibility with Solidity and the EVM enables Syscoin to offer a secure and efficient platform for decentralized applications and smart contracts, combining the security of Bitcoin with the functionality of Ethereum.

The Z-DAG protocol enhances transaction speed and cost efficiency on the Syscoin platform by utilizing a directed acyclic graph (DAG) technology to record transactions in a different manner than traditional blockchains. This allows for near-instant finality and low-cost transactions. Additionally, Syscoin's Layer 2 Rollux solution supports both the UTXO and NEVM chains, providing highly efficient and secure transactions with fees as low as fractions of a cent and confirmation times of two seconds.

The Syscoin Bridge is a bridging solution that connects the UTXO and NEVM chains within the Syscoin platform, allowing for seamless asset transfers between the two networks. This bridge enables users to leverage the security of the UTXO chain and the flexibility of the NEVM chain. By utilizing the Syscoin Bridge, users can transfer assets such as Syscoin Platform Tokens (SPTs) between the UTXO and NEVM networks.

The total supply of the SYS token is approximately 780 million, with nearly all of it currently in circulation. SYS is the native cryptocurrency of the Syscoin platform, used for mining rewards, gas fee payments for smart contract operations on the NEVM chain, network transactions, Syscoin Bridge transfer fees, and collateral for Sentry Nodes. SYS does not have a capped supply.