For the first time, Syscoin as a cryptocurrency appeared back in August 2014. At the moment, the altcoin is quite famous and is one of the most popular, and experts conclude that Syscoin is a promising investment. However, not everyone knows about this token and its features. Let’s look at its advantages/disadvantages and conclude whether it is worth investing in.
What is Syscoin?
Syscoin is a decentralized digital currency that was created before the boom in cryptocurrencies but has never been appreciated. Accordingly, its extraction does not require large amounts of power from the PC. In return for the time spent, you will receive an up-to-date and promising currency.
Technology and algorithms of work
The main platform of the coin is Scrypt technology. Also, the coin itself is a classic mining currency, which allows you to earn it in parallel with other altcoins, if necessary. The creators, on the other hand, took care of the possibility of a constant increase in capacities. That is why the average rates may vary but are always in the range of 700 to 1100 GH / s.
The coin platform allows for increased security standards in exchanges and creating contracts, but it has nothing outstanding in this area.
Syscoin features
Syscoin has several features that set it apart from other altcoins. Among them:
- Free decentralized issuance of certificates. It allows each user to become a publisher by creating their contracts, protected by POW authentications. It is suitable for the free creation of independent electronic cash exchangers, which many people use. No one prohibits riveting with the help of tools and their shares or software licenses, and accordingly, such a solution opens up a lot of scope for the economic realization of users;
- Standard decentralized platforms on which trading is carried out have already become commonplace for everyone who has been dealing with cryptocurrency for more than a couple of months. Several large platforms are supported, including completely independent ones;
- Aliases are distinctive features of the system. This functionality simplifies the mining and transactions of altcoins to transfer currency. You just need to have the recipient’s alias (in fact, this is the account number). This simplification will appeal to everyone tired of memorizing or storing all their wallets in notebooks. You can also come up with a serial number yourself, using numbers and letters of the Latin alphabet. This solution has its drawbacks, but we will talk about them below;
- SYS Escrow allows you to freely open conditional accounts, taking into account and organizing documents, as well as cash and other assets. Such a wallet will exist until the conditions or obligations described by the creator are fulfilled, which is convenient for long-term transactions;
- The mailbox provided by the system is protected according to the platform security standard, which allows users to be sure about the safety of information. Also, thanks to the built-in binary encryption algorithm, correspondence cannot be used against the author if it can be intercepted;
- The community of the system is quite friendly and well-coordinated.
The platform itself guarantees the verification of documents, which greatly simplifies negotiations and the drafting of papers.
Advantages of Syscoin
So, Siscoin has the following positive qualities:
- High-quality design. It is this feature that distinguishes these tokens from other altcoins. Good design makes it easier to adapt to the system, which makes life easier for all new miners;
- Ease of adaptation and use of blockchain. In addition to the previous plus, the developers also took care of several types of electronic cash, which allows you to create full-fledged internal exchangers. It also simplifies the transfer of funds, removing all the same intermediaries in the face of services for the exchange of cryptocurrencies, thereby facilitating the withdrawal of funds;
- Extensive functionality that not every cryptocurrency can boast of. All the same certificates, trading platforms, and other tools are the main reason for the choice of Syscoin by users. After all, its competitors, even offering something similar, rarely bring the final product to mind. And here, everything works without unnecessary complaints;
- High-quality support is the main plus for the users of the service. Again, all communication takes place exclusively in English, but at the same time, you can ask your question 24/7 and be sure that the specialist will understand the situation and find the best solution.
As elsewhere, the service has a couple of drawbacks that spoil the overall picture for new users.
Disadvantages of Syscoin
So, when thinking about working with Siscoin, you should be prepared for:
- Unvalued currency. The digital cash market is already filled with giants, from which Syscoin’s rate today is only 0.00004014 BTC. In contrast, it is worth noting the lower consumption of resources for the extraction of coins and convenient service. All this contributes to the growth of the token in value, which can be expected from Syscoin soon;
- The cryptocurrency was created with the idea of complete anonymity and freedom of users. Excessive control by the creators of their offspring is also observed here. But this is the only way to provide quality service. At the same time, high safety standards partially cover this disadvantage.
As you can see, the ratio of the positive and negative sides of the platform is 2 to 1. And it is a very good indicator of an unpopular cryptocurrency.
