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5 Karma

Review on Syscoin by Charles Hoffstatler

Revainrating 5 out of 5

BUY AND HODL. Run a masternode if at all possible. You might become…

BUY AND HODL. Run a masternode if at all possible. You might become progenitor of a dynasty.

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Pros
  • All appearances point to strong fundamentals and a bright future ahead for this presently undervalued coin. Much positive to say on this project and team. Long range plan focused on mass adoption, staying power, groundbreaking tech, very active development, proven follow-through having already delivered on many promises (e.g. the first iteration (and THE first) of a decentralized marketplace was delivered in 2014, and there have been many updates since), and a progressive evolution. There's a lot to outline here. "Decentralized Marketplace", "Blockmarket Desktop" and upcoming "Blockmarket Web" are the first impressions for many who do light research. This is a platform that not only serves simple buying and selling use cases, but allows more complex interactions through an easy-to-use API developers can harness to integrate existing eCommerce inventories with the Syscoin chain to take advantage of its features and utility, regardless of their app programming language. Syscoin 2 (existing) also provides the utility of Aliases, Certificates and Encrypted Messaging. As big as those are, there's far more going on. Syscoin 3, due for release any time, will introduce an array of utility including tokenization with coloring (the ability for tokens to represent unique items such as a gold bar with a serial number), a simple means of token generation (think ICOs), Enterprise scalability and performance with a unique implementation of Masternodes forming Syscoin into a PoW/PoS hybrid, Z-DAG (a first of its kind algorithm allowing for instant asset transfer while solving the risk of double-spend - an age old problem that has been the bane of the blockchain community), PrivateSend (CoinShuffle), InstantSend capabilities and more. In Syscoin 3, The combination of these Masternodes with Z-DAG will result in asset transfer throughput of roughly 100,000 TPS when 1,000 masternodes are enabled on the network, scaling-out to higher TPS as additional nodes are added. The Syscoin 3 testnet has been active since November and is currently running the first release candidate version, due for release April 30th, 2018. Two significant ICOs have already announced their intention to launch on Syscoin 3 and issue proportionate Air-drops to holders of SYS. These are CoinPaymentsCoin (by the already-existing and popular CoinPayments service), and BitCab (a decentralized Uber-type service by former country manager of Uber Ukraine). It has been said many other ICOs are to be announced. Additionally, there are deals worked-out for onboarding existing inventories of merchants to the tune of over 1 million SKUs through the Merchant Pilot Program. Blockchain Foundry, the private company formed by the Syscoin team, is currently working on and expected to go public on the Canadian Venture stock exchange some time Q2 2018. Part of fast-tracking this process involves an active merger agreement between Tiller Resources Inc and Blockchain Foundry. BCF recently receive 3 million in private funding and has expanded both the BCF and Syscoin teams at a rapid pace. New development ramping up fast, toward fulfilling an ambitious roadmap.
Cons
  • Some point out a "lack of marketing" in the conventional sense. While this is somewhat true, keep in mind Syscoin's strategy is on the long game - not hyping promises to P&D traders. They are pushing for widespread adoption, and have stated their mass marketing campaigns will begin when Blockmarket Web is ready and released to the public. In the meantime they have a strong community of long term investors who have formed their own marketing effort with success. Syscoin and BCF have been covered by several major investment publications in the past two months, and a number of YouTube reviews are available on reputable channels. Some might consider the immediate "lack of marketing" a con, but those who are wise will sense opportunity. A recent delay with delivery of Syscoin 3 (originally expected March 31st, but rescheduled April 30th) is the only reason I gave four stars instead of five on Progress. My understanding is BCF is in process of pro-actively trailblazing regulatory compliance with Canadian institutions while simultaneously completing a reverse merger with Tiller Resources Inc. Some legal irons have been in the fire and are being finalized which will determine some backend details going forward. Many crypto projects are doomed to fail by not taking compliance seriously. Syscoin and BCF will not be among them. Their vision extends far beyond just releasing a product, to establishing co-existence with regulatory institutions thereby giving the project a foundation it needs to continue for a very long time.