Syscoin functions as a proof-of-work (PoW) blockchain, and it is merged-mined with Bitcoin (BTC). Syscoin is a dual-layered blockchain at its base, including the Syscoin blockchain itself as the core. The blockchain runs parallel with an Ethereum virtual machine (EVM) called NEVM (Network-Enhanced Virtual Machine). EVM refers to a software platform for developers to create decentralized applications (DApps) on the Ethereum network. NEVM seeks to make the Syscoin network compatible with smart contract protocols. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.

The Syscoin network has four main components:

Syscoin is merged-mined with Bitcoin; merged-mining is an auxiliary proof-of-work consensus. Auxiliary PoW implies that blockchain miners are capable of mining multiple blockchains simultaneously. Syscoin merged-mining allows Bitcoin's 20% mining power to be used for mining Syscoin. This process seeks to result in making the Syscoin network more secure. At the same time, Syscoin uses ChainLock technology to eliminate around 51% of malicious miners' attacks to seek to make it even more secure.

ChainLock technology operates by creating Long Living Masternode Quorums (LLMQs). LLMQs are quorums (groups) of hundreds of masternodes. The miners of a blockchain agree on which block is next based on the longest chain rule. The longest chain on the blockchain wins. Apart from ChainLock technology, Syscoin seeks to have a few more notable features:

Z-DAG: An instant settlement protocol for enabling fast Syscoin Platform Token (SPT) transfers.

Masternodes: Masternodes are full nodes that ChainLock technology utilizes to come to a consensus.

Notary Rulesets: Notary rulesets are made to allow SPT creators to apply their own rulesets for facilitating transfers. The creators can accept and deny the transfers by validating or not validating the transactions.

Syscoin Platform Tokens (SPTs) are the native Syscoin blockchain tokens. SPTs are UTXO-based tokens and seek to offer better efficiency to allow SPTs to support new and existing innovations made on Bitcoin. UTXO refers to a type of token that someone has left after processing a cryptocurrency transaction.

Jagdeep Sidhu and Michiel are the president and vice president of the Syscoin network.

Syscoin tokens have a total token supply of 63,30,43,699 and a maximum total supply of 88,80,00,000.

We update our Syscoin to GBP currency in real-time. Get the live price of Syscoin on Coinbase.

The current market cap of Syscoin is £1.317M. A high market cap implies that the asset is highly valued by the market.

The all-time high of Syscoin is £0.9244. This all-time high is highest price paid for Syscoin since it was launched.

Over the last 24 hours, the trading volume of Syscoin is £162.834K.

Assets that have a similar market cap to Syscoin include Altcoinist, GemHUB, Tenset, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Syscoin is 891 million.