Syscoin

Halal Rating :
Comfortable
Last Price $0.11 Last updated:
Rank 503
1D Change -2.69 %
Market Cap $88.85m
Circulating supply 803,764,544
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Mineable
  • PoW
  • Platform
  • Enterprise Solutions
  • Collectibles & NFTs
  • Zero Knowledge Proofs
  • Masternodes
  • Scaling

Purpose and Utility

Syscoin is a dual-layer blockchain platform that combines Bitcoin's security with Ethereum Virtual Machine (EVM) functionality. It aims to provide scalable, secure, and low-cost infrastructure for Web3 applications, NFTs, and digital assets.

Business Model

The platform operates through a merged-mining arrangement with Bitcoin, inheriting its security while enabling smart contracts and decentralized applications. The native SYS token is used for network fees, governance, and as a medium of exchange.

Real-World Adoption

Syscoin has established partnerships with various blockchain projects and continues to see development activity. The platform supports NFT marketplaces, decentralized exchanges, and other DApps. Notable features include its NEVM (Network-Enhanced Virtual Machine) and ZK-Rollups for scalability.

Development Activity

The project maintains active development with regular updates to its core protocol. The team consistently works on improving scalability and security features. The GitHub repository shows regular commits and updates.

Token Distribution

Syscoin was launched in 2014 through a fair mining process, without an ICO or pre-mine. The distribution model favors a decentralized approach, with tokens primarily distributed through mining rewards.

Revenue Model

The platform generates revenue through transaction fees and network usage, which are distributed to miners and validators. This model aligns with Islamic principles as it represents payment for actual services rendered.

Crypto Impact

To assign a comfort level investing in Syscoin from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Syscoin.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

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