Syscoin is a unique public decentralized blockchain that is merge-mined with Bitcoin and works as a dual-chain. The chain claims that by combining the vision of Bitcoin and the flexibility of Ethereum, Syscoin can be very secure and decentralized while achieving high throughput and scalability at the same time.
The blockchain was created in 2013 by Sebastian Schepis. He is a software developer powerhouse who has worked with the likes of Lockheed-Martin, Verizon, and Bank of America before becoming an entrepreneur and creating a host of blockchain solutions on his own.
Syscoin is the PoW blockchain that claims to extend the vision of Bitcoin while elevating that with the use cases of Ethereum through merge-mining and dual-chain.
Merge-mining is essentially a feature that can only exist in PoW blockchains because it allows miners to mine on more than one chain at the same time without needing extra energy. An interesting analogy is that you have one lottery ticket that can be won at two different games.
Dual-chain feature is also an interesting one. Syscoin has two blockchains running in tandem and are connected, the native PoW Syscoin blockchain and an EVM-compatible blockchain called NEVM (Network-Enhanced Virtual Machine). NEVM is a blockchain that is designed to have smart contract features, are highly interoperable, and can be scaled to smart cities level. After Ethereum moves to PoS, Syscoin will still have the superior security of PoW while the scalability is much higher thanks to the NEVM.
SYS is the token that powers the Syscoin chain. Its total supply is 888,000,000 SYS. The amount in circulation is 670,255,384.61 SYS.
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