Lots of people have been asking about this; is Syscoin a good investment? The answer is yes, but before we dive into a Syscoin investment, let’s examine the basics of what Syscoin does.
Since it was first introduced in 2014 SYS is the primary currency of Syscoin, the Syscoin community, has seen significant fluctuations. By 2021, the currency soared to record levels.
Table of Contents
A brief overview of the Syscoin (SYS) ecosystem
Is Syscoin a good investment? Syscoin is a decentralized market, according to its website, syscoin makes use of blockchain technology to eliminate the need to involve intermediaries. The Syscoin network makes the purchasing process much more affordable and efficient. The network is frequently regarded as the alternative to e-commerce using crypto. The main features of the Syscoin network are Blockmarket as well as the Desktop Wallet.
It is a cryptocurrency, also known as an altcoin an electronic currency, and an exchangeable token” Syscoin’s principal product includes an online marketplace known as Blockmarket. There, users can buy anything from furniture to clothes. Businesses can establish virtual stores on Blockmarket offering their own merchandise in addition to reselling products from other stores for a fee.
To gain access to Blockmarket users, they must get the Blockmarket Desktop wallet. It was launched in September of 2017 and users are able to exchange more than 32 cryptocurrencies through exchanges in the wallet, like Changelly or Flypme. Additionally, there are features available that can be used to safeguard the purchase process, which include services for escrow and an integrated messaging system.
Other features of note include zero-cost transactions and aliases to transfer money without having to type out long addresses for wallets as well as a secure message system and a 24-hour uptime.
Additionally, the latest version of Syscoin 2.1 has an algorithm that permits it to merge mine together with Bitcoin. Merged mining is the process of mining more than one cryptocurrency at the same time, and without compromising the overall mining performance. By combining mining, miners are able to utilize their computing ability to create blocks across multiple chains simultaneously.
Is Syscoin a good investment? – The main factors that influence the Syscoin price forecast
The Syscoin website states that developers are able to build “with the exact Enhanced Virtual Machine tools and resources” which are used in Ethereum. Ethereum platform.
The project claims that developers can implement smart contracts that are scalable that are secure and fast “speed and security that has been proven”.
Customers are assured that by starting their application on the Syscoin blockchain they are able to “go online over a fast, secure, and easy network” that can be tailored to suit their application.
Syscoin users are able to “design some of the biggest, future-proof, and ambitious projects” they can think of, “without needing to worry about the scalability of their project or paying excessive fees”.
Examining some of the technical features that make up the SYS coin
The Syscoin documentation provides: “Syscoin is a Proof-of-Work blockchain that is merged with Bitcoin. In essence, it’s a layered blockchain. The base comprises the Syscoin blockchain and operating alongside Syscoin is the Ethereum Virtual Machine (EVM) layer dubbed NEVM (Network-Enhanced Virtual Machine) that provides smart contract capabilities.
The project also utilizes Z-DAG. The solution, according to Syscoin, will be “an instant settlement method” that claims to offer “incredibly fast Syscoin Platform Token (SPT) transfers.”
The technology used by the crypto makes it highly scalable, not only in terms of the high number of transactions per second (TPS) as well as in terms of the cost of transactions. The company claims that it is less expensive than other chains based on EVM.
Syscoin claims to be highly decentralized saying it has at least 2,500 master nodes active on its network. A number that Syscoin says is likely to grow as it transforms into a “known network that is smart.”
Additionally, the project claims to be very secure. In its official documents, Syscoin states: “Due to the fact that it was merged from Bitcoin, Syscoin currently has approximately 20 percent of the hash power which goes to mining Bitcoin. This is an enormous amount of security and Syscoin has a lot of security already. The syscoin team is trying to get more Bitcoin miners to try to be one of the safest settlement layers. In addition to this,, Syscoin also utilizes ChainLock technology which removes the threat of a 51% attack and makes it even safer.
The outline of Syscoin road map
Let’s take a look at the outline of the Syscoin roadmap that answers the question; is Syscoin a good investment?
The Syscoin project has also laid out numerous plans for the future, and how they will affect the development of the project.
According to its plan, this will include the roll-ups of ZK-Rollups that will be introduced at the beginning of 2020’s first quarter which Syscoin describes as a layer two technology for scaling blockchains. The way to achieve this is, according to Syscoin to combine hundreds of transactions that are made using ZK-Rollups to form a single transaction on the blockchain to serve as a shred of evidence.
After being validated by validators to confirm that the proof is valid, the smart contract on the blockchain is then able to do so, verify the proof’s transactions, and, once confirmed the transactions are then submitted to the next block and are deemed to be final.
The smart contract execution details for the transactions will be saved on the chain,” adds Syscoin. As per the cryptocurrency, the introduction of this technology will allow the use of 210,000 TPS for processing.
Validium, a replacement for ZK-Rollups will be available in the third quarter of 2022. According to Syscoin the company will result in an average that is four million transactions every second.
The co-founders and the creators of SYScoin
Syscoin was founded in 2014 by founding members of Blockchain Foundry, who remain the main developers. Syscoin has been administered since the year 2019 by Syscoin Foundation.
Dan Wasyluk is CEO of Blockchain Foundry, while its CTO is Jagdeep Sidhu. Both co-founded SYS coin.
Wasyluk earned a bachelor’s degree in science (BSc) at The Rochester Institute of Technology in the US. He then worked in the field of software design for 17 years before being promoted to director for software engineering with Decision Lens. In addition to his participation with Syscoin, Wasyluk co-founded the fitness and wellness application Sweat Equity.
Sidhu has completed his BSc with a major in computing at the British Columbia Institute of Technology in Canada. He later was a software engineer at various firms and was eventually promoted to an engineer in the senior position with Alpha Technologies.
Syscoin has proven its worth as a cryptocurrency with actual utility. But what is the future? Are we able to give an SYS coin price forecast? Let’s examine the crypto’s previous performance to place any prediction into the context
The price history of Syscoin
From late 2014 until the end of 2016, SYS was under or just below $0.01. In 2017 2017 the SYS cryptocurrency price started to rise and reached a peak of $0.9793 on January 13, 2018. The price of SYS fell throughout the year, reaching an all-time low of $0.04739 on January 1, 2019. In the remaining months of 2019 and into 2020, the cryptocurrency had a poor performance. In 2021, SYS was beginning to increase to $0.7644 on May 5, 2021. Even though it was a brief decline, Syscoin surged towards the final part of 2021 reaching $0.8534 at the beginning of December.
The price has dropped dramatically throughout 2022. Its value dropped from an intraday maximum of $1.25 on the 16th of January and a low intraday of $0.6862 on February 3, as per CoinMarketCap. The price then fell to a record low of $0.3998 on February 24, 2022. The price then traded in a sideways manner until it climbed a bit to close on the 23rd of March at $0.6034.
The 30th of March saw the coin climb to an all-time high of $0.7249 Then it declined, falling to a minimum of $0.4898 on April 11. The coin then rose to a record high of $0.6026 on 14 April. The current price for Syscoin is $0.5395 on 19 April.
Based on CoinGecko, Syscoin rose by more than 19% during the course of the year, between April 2021 and April 2022. However, in the 14 days prior to 19 April SYS decreased by 20%.
Syscoin has a maximum quantity of 888,000,000 Sys and a current supply (of April 19, 2022) of 640.67 million. Meanwhile, the market limit of Syscoin has been set at $345.7m.
How will these numbers affect how they affect the SYS forecast for price in 2022? or even what is an SYS price forecast for 2025?
Let’s see what analysts are thinking about this; is Syscoin a good investment?
Syscoin price prediction – expert’s opinion
When making predictions, bear in mind that although they can serve as a good indication of where the price might move, however, they should be seen as a possibility rather than a definitive statement. This is particularly true when it comes to long-term forecasts because they could be far off from the truth. This is due to the inherent risk of volatility in the cryptocurrency market, but also due to the numerous uncertainties that can affect the future price of crypto.
In this light, we’ll take a look at some predictions for the price of Syscoin, which will also answer the question, is Syscoin a good investment?
WalletInvestor anticipates that the price of SYS will rise to $0.876 in the course of a year (April 2023) and $2.352 within five years.
Gov. capital with a more pessimistic outlook that places the Syscoin price forecast of 2022 as a value of $0.756 and $0.799 within a year and the five-year price target of $2.635 for SYS is more optimistic, with $2.635.
DigitalCoinPrice estimates that the SYS will be valued at $0.72 on average in 2022 and then increase slightly until $0.79 at the end of 2023. The site’s Syscoin price forecast for 2025 is $1.04 and indicates that the Syscoin price forecast for 2030 is $2.48.
FAQs
Is Syscoin a good investment?
Is syscoin a good investment? Of coz it is, the Syscoin ecosystem is stable with an experienced and connected team when it comes to collaborations. Syscoin is the currency that is the engine behind a project with an actual value and is a positive indication when it comes to investing in cryptocurrency.
While Syscoin might be a worthwhile choice for investing, it is volatile and can fluctuate upwards or downwards in the future, which is why it’s worth keeping this in your thoughts.
Will Syscoin rise?
Although some analysts believe it will increase while others believe it could be steady over the next year.
Forecasts, especially those that are long-term can be interpreted as indicators, rather than absolutes.
Should I put my money into Syscoin?
Investment is a personal undertaking. Conduct your own research and attempt to keep abreast with any changes to the Syscoin infrastructure that may boost the future of Syscoin.
It is important to remember that investing is dangerous and it is essential to avoid investing more money than you are able to afford to lose.
Final thoughts regarding Is Syscoin a good investment?
Is Syscoin a good investment? Yes, Syscoin has proven its worth as a cryptocurrency with actual utility. Syscoin’s rapid rise to the end of 2021 shows the trust that the market has in cryptocurrency.
As crypto becomes more accepted and more investors are entangled in the markets; syscoin will likely increase in value. But the future is unpredictable, so make sure you do your own research.