Syscoin Platform News Update

The Latest on NEVM Development

NEVM is progressing as expected. Jag and the rest of the dev team are currently deploying services and testing NEVM on a private testnet. We expect to reach the public testnet phase three weeks from now. We are also working on an in-depth blogpost that will outline all the improvements and changes to Syscoin that NEVM will bring.

NEVM Block Explorer
NEVM Network Status Monitor
NEVM Testnet Faucet

Clarifying Masternode Seniority

We noticed some unnecessary uncertainty in the Discord chats in regard to seniority, and we’d like to curb that. So, to our Masternode operators, we’re happy to say seniority will remain intact with the introduction of NEVM. Your seniority is safe and the schedule will remain the same. 

New Syscoin Foundation Board Member

As some of you know, Syscoin Foundation appointed a new Board Member, John or as most of you know him, Cryptoloot, to strengthen the organization.

John is a real crypto OG and has been involved with Syscoin since the ICO 7 years ago. A dynamic and creative IT professional, John brings 20+ years of business development, marketing, and talent acquisition experience to Foundation. His main priorities are creating greater understanding and awareness of the SYS project and the team behind it, as well as an even stronger community.

John fills the board seat left by Foundation co-founder Reinier (“Ryan” on Discord), who contributed immensely to the project’s growth. As a business developer he secured many partnerships and established connections that helped us lay the groundwork for where we’re going.  We’d like to thank Reinier for everything he has done for Syscoin!

Expanding the Syscoin Marketing Team

SMT is happy to share the addition of two new team members!

John, our new Foundation member, has also joined SMT. His experience is quite applicable to the needs of SMT, and he will take our marketing up a notch! 

Grizz has also joined SMT. He is highly talented and brings some uncommon expertise. He works as a visual effects supervisor in commercials and entertainment by day, and brings Syscoin his creativity, skillset and extensive network by night. He will help simplify and humanize the mostly technical nature of Syscoin. Sysbites is the first example of his expertise applied to Syscoin. Together we will be working on improving the brand and the creative communication of SYS.


The Return of WSS

SMT organized a total of 159 White Sock Squad missions which led to growth in community members, social media presence, website visitors, and more brand awareness. We’re happy to announce WSS is reactivating! This time with @DOGEGONE taking the lead running the missions, and @Nazar, who is doing a great job providing awesome ammo to spread around.

Pali Wallet and Sysmint

We gave you a sneak peek of Pali Wallet two weeks ago. Pali is Syscoin's upcoming non-custodial browser extension wallet. It will give DApp users and developers easy access to Syscoin's robust network and features and will support Syscoin Platform Tokens, including NFTs. The experience it will offer is similar to Metamask, but it works with UTXO (Bitcoin-style blockchains).

The code is now ready to be tested by a security audit firm. We expect that to be finished by the end of the month. The public release of Pali Wallet will happen shortly after that, together with Sysmint, a DApp that makes it easy to create and manage Syscoin tokens and NFTs in a non-custodial way:

After the first release of Pali Wallet, we expect to introduce support for NEVM into Pali in the next phase.


7 Years of Syscoin

It's been quite a journey from where the Syscoin project began to where we are now. Many stepping stones led towards the Syscoin you know today. All of this has led to the upcoming implementation of Network Enhanced Virtual Machine (NEVM), the next big step towards achieving the overall vision for Syscoin.


Syscoin 1.0

Syscoin's initial release brought the world its first decentralized marketplace.

Version 1 was a Scrypt algorithm altcoin based on Litecoin. The initial max supply was 2 billion coins. The original whitepaper included marketplace creation, documents, certificate issuance, transfer, data storage and retrieval, all decentralized. Most of these services were available upon launch but only accessible through a command-line interface.

  • April 16 2014: Syscoin Project was announced via BitcoinTalk
  • July 21 2014: Presale launched
  • August 16, 2014: Syscoin 1.0 mainnet launched
  • Syscoin becomes "Core" coin member of the highly-respected SuperNET organization (now operating as Komodo)


Syscoin 2.0

In version 2, Syscoin switched algorithms to SHA-256 and became merge-mineable with Bitcoin, resulting in increased hashing power and greater resistance to 51% attacks. The max supply was reduced from 2 billion to 888 million. This version also added a graphical interface and additional features to the Syscoin wallet and decentralized marketplace. Additional features include address aliases, price-pegging, arbitrated escrow, encrypted messaging and Bitcoin as a payment option. 

  • March 2016: Became an official Microsoft Azure Development Partner
  • May 1, 2016: Syscoin 2.0 was launched
  • March 30 2017: First altcoin to activate SegWit
  • May 25 2017: Syscoin joined the new Microsoft Decentralised Identity Foundation as a founding core member
  • May 2017: Syscoin was invited to lead the Hawaii Digital Currency Foundation
  • May 2017: Blockmarket Desktop beta was launched
  • December 2017: Syscoin API v1 was released
  • Sept 2017: Blockmarket Desktop v1 was released


Syscoin 3.0

Version 3 introduced masternodes as a resource-pool to power future services. It also introduced an asset/token platform, patented Z-DAG Protocol for near-instant token transactions, parallel transaction processing, vertical and horizontal scaling, and decentralized governance with proposal funding.

  • March 2018: Binance listed SYS
  • April 2018: First ever Syscoin Community meetup
  • May 2018: Syscoin 3.0 was launched
  • July 2018: CoinPayments launched CPS Coin on Syscoin Platform and distributed their token to Syscoin holders via an airdrop
  • July 4th 2018: Binance's trading API was exploited by hackers who created market activity which led to 1 SYS being valued at 96 BTC on the exchange
  • Oct 2018: Lode joined Blockchain Foundry and have since launched their tokens on Syscoin
  • Nov 2018: Pangolin and Blockusign demo
  • Dec 2018: Syscoin got a new look, a new website and overall branding
  • Dec 2018: Syscoin Foundation was formed and registered as a legal entity based in Eindhoven Netherlands

Syscoin 4.0 and 4.2

With 4.0, Syscoin Platform Tokens became enabled with a further enhanced Z-DAG - a unique decentralized high-throughput transaction layer which also benefits users with Syscoin’s underlying Bitcoin-compliant security and finality. The ability for token creators to add custom fees (called auxiliary fees) was introduced. We also implemented the trustless, permissionless Syscoin Bridge to and from Ethereum, capable of first-class integration with other platforms as well. Developers determined more efficient ways to handle non-value transactions such as creating aliases, marketplace offers, escrows and certificates, leading to a streamlined blockchain. As a whole, this version of Syscoin Platform brought scalability and viability for mass adoption, and opened the way for Syscoin and other platforms to share capabilities through cross-chain architecture that aligns with the ideals of Satoshi Nakamoto. All of this further defines the value proposition of the platform.

4.2 introduced some major enhancements including NFT support (including fractional NFTs), a shift from an account-based model to UTXO for Syscoin asset/tokens, on-chain masternodes, and unique notary capabilities that enable projects to achieve non-custodial compliance with regulations and/or enforce other custom business rules that determine on-chain settlement. 

  • May 2019: releases official Syscoin network throughput results
  • May 2019: BCF files patent for Z-DAG
  • June 2019: Syscoin 4.0 was launched
  • June 2019: Fusion and Spark wallets were released
  • Jul 2019: A bounty of 200k SYS was offered to hack the Syscoin <> Ethereum Bridge. Community members also joined and added an extra 500k SYS to the pot.
  • Nov 2019: Ethereum Bridge was launched on testnet
  • Dec 2019: Syscoin Platform joined the Messari Disclosures Registry, and aligned with Messari’s efforts to push the limits of transparency for investors.
  • Dec 2019: Syscoin 4.1 was launched.
  • Jan 2020: 2Tokens partnered with Syscoin and Blockchain Foundry
  • Jan 2020: Ethereum Bridge was launched on mainnet
  • April 2020: ITSA partnered with Syscoin
  • July 2020: Binance partnered with Blockchain Foundry to launch BUSD on Syscoin
  • August 2020: Syscoin participated in the Reddit Scaling Bake-off, and exceeded the TPS performance requirements of the competition
  • August 2020: Matic Network partnered with Syscoin and Blockchain Foundry
  • August 2020: Corion Foundation partnered with Syscoin
  • Sept 2020: NIX partnered with Blockchain Foundry
  • Sept 2020: Quan Digital joined SMT as representatives of Syscoin in South America
  • Dec 2020: TrustToken partnered with Syscoin to bridge their stablecoins
  • Jan 2021: Syscoin announced the support of NFTs in the upcoming 4.2 release
  • Feb 2021: Jag released his preliminary paper on NEVM (Smart Contracts)
  • Feb 2021: Syscoin 4.2 was launched on testnet.
  • April 2021: Syscoin’s first NFT card game, Skimdom, was announced
  • April 2021: Quan Digital and Elint officially joined Syscoin as partners
  • April 2021: Klever partnered with Syscoin and integrated SYS and Syscoin assets/tokens into their wallet and ecosystem
  • April 2021: Syscoin LUX (4.2) launched on mainnet
  • April 2021: Syscoin was the first blockchain to implement Taproot on mainnet
  • May 2021: Syscoin’s first NFT Marketplace, LUXY, was announced


Stay up-to-date with the latest news and developments

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Aug 19, 2021 by Syscoin Foundation, SMT