Syscoin 4.0 Launches with two new Desktop Wallets and a Blockchain Explorer
We are delighted to confirm the successful deployment of Syscoin 4.0, and the release of two new desktop wallets and a blockchain explorer.
Before we launch into the new tech, we have an important notice about updating your Syscoin masternodes and Qt wallet.
If you have not done so already, please update your masternodes to run on the new 4.0 chain. This process will involve setting up the node from scratch; it is not possible to re-use collateral and transaction IDs from the Syscoin 3.0 chain. For best results we recommend that you use the install script provided in this official update guide.
Part of the process will involve moving your coins from the old syscoin 3.0 wallet to Syscoin 4.0. Here is a guide that will take you through this process.
For further assistance please join the official Syscoin Discord and goto the #help channel:
QT WALLET UPDATE
The latest version of the Qt wallet is 4.0.1. If you are running version 4.0 please update. This is a mandatory update, if you do not update prior to the next governance superblock (approx June 28th) your wallet will stop working.
SYSCOIN 4.0 TECH SUMMARY
Syscoin 4.0 brings with it two groundbreaking technologies that will open the door to developers looking for industry-leading transaction throughput, near-instant confirmation times, and access to smart contract functionality.
In short, these features are Z-DAG, and Syscoin Bridge.
Z-DAG is the component that makes Syscoin Platform the fastest and most scalable decentralised asset platform in the world. With Z-DAG you can achieve near real-time asset or point-of-sale transactions, at throughput rates comparable to credit card networks.
Z-DAG scales to meet performance demands of global use and future growth, by harnessing the resource pool provided by Syscoin’s network of Masternodes.
Other blockchain projects have made unsubstantiated transactions-per-second (TPS) claims; the Syscoin core developers commissioned the esteemed blockchain company Whiteblock to thoroughly and objectively test and assess Z-DAG at scale. It did so with a cloud simulation of a live production network. The results showed 60158 transactions per second, far in excess of the closest competitor. Read Whiteblock’s report on Z-DAG here.
A new bridging feature has been added to Syscoin 4.0 to enable two-way bridges between Syscoin and other blockchains. The first of these bridges will connect Syscoin Platform to the Ethereum network and is scheduled for mainnet release in mid-to-late July.
This will provide Syscoin with the ability to interact with Ethereum technologies such as smart contracts. It will also provide a means for Ethereum tokens to leverage features unique to Syscoin Platform, such as the Z-DAG advantages detailed above.
Some of the key points:
- Fully decentralised: anyone can run a bridge node, and earn ETH by doing so
- No counterparty required: unlike other bridges Syscoin Bridge requires no counterparty in the chain transfer process.
- Two-way transfer of assets: the bridge allows for Syscoin Platform Tokens (SPT) to be transferred to other chains and vice-versa
We now have two new wallets for keeping your Syscoin tokens safe: Syscoin Fusion, an open-source desktop client developed by the Syscoin Development and Marketing Team (SDMT), and Syscoin Spark, a closed-source desktop client developed by Blockchain Foundry. Both wallets incorporate all of the functionality of the Syscoin ecosystem.
Syscoin Fusion is an open-source wallet that provides Syscoin Platform Token (SPT) creators the ability to offer a customized wallet for their specific SPTs. SPT developers can also offer wallet skins to users, or for branded wallets.
Moderate customization is achieved by changing a single file fusion.conf. This can include: Splash screen, Locking the wallet to a single token or an array of tokens, wallet colours, text colours and background logo. Layout and additional customization is possible through CSS modifications.
Project creators can also create and distribute tokens directly in the wallet.
Spark makes it easy for creators of Syscoin Platform Tokens (SPT) to build their own bespoke wallet. The first example of a branded deployment can be seen in Lode.one’s desktop wallet for LODE and AGX tokens.
Spark features an extensible branding framework, allowing the developer Blockchain Foundry to quickly and easily customize the look and functionality for client use cases.
Spark is now available for use by anyone. You can send and receive Syscoin and SPTs in a matter of seconds, as well as easily create and distribute a brand new SPT for your project.
Blockchain Foundry will enhance the functionality of the wallet in future releases through the integration of several elements such as:
- Hardware wallet support
- Support for Syscoin’s ethereum bridge
- Masternode support
Blockchain Foundry have also released a brand new, fully-featured, explorer for SYS and SPTs - check it out here http://explorer.blockchainfoundry.co
To keep in line with the release of Syscoin 4.0, the developers at Syscoin Development and Marketing Team (SDMT) have delivered a freshly revamped and updated version of SYSHub, where you can submit and monitor governance proposals, and catch up oin the new latest Syscoin news and masternode information.