⚒ Syscoin -Blockchain Scalability, Trustless Interoperability for ERC20 projects

[Provizor-071]

tell me, what is the difference between this decentralized market and BitBay (BAY). And also between the new one - https://crowdsale.storiqa.com/

[Sword555]

tell me, what is the difference between this decentralized market and BitBay (BAY). And also between the new one - https://crowdsale.storiqa.com/

Personally, I'm glad they're getting a lot more competition with markets.

[joblessminer]

How many Nodes will Syscoin have approximately?

[Crypto_Man1212]

What can be done on the marketplace? Buying consumer goods? This is like OpenBazaar?

The marketplace allows you to buy/sell/resell, provide escrow services, transfer digital data via certificates, send and receive encrypted messages, all via hardened smart-contracts, directly on the blockchain.

Although we have some similar goals, Syscoin is very different from OpenBazaar. Syscoin launched the world's first decentralized marketplace in July of 2014; OpenBazaar was officially launched April 4th, 2016.

Syscoin is a cryptocurrency with a decentralized marketplace that is built directly into its blockchain. OpenBazaar is not, it is Peer2Peer software(like BitTorrent) that is developed by OB1.

We've been talking about the benefits of being blockchain-based for a few years now, see our whitepaper http://whitepaper.syscoin.org

We are happy that there is innovation in the decentralized marketplace space, we are all working at making this world a better place.

This is just an amazing feature set! OB is pretty buggy so if SYS and Blockmarket see wide adoption, this will be HUGE.

Agree 100% OB is barely usable even now. Also there's hardly anyone actually buying anything on there.

I guess it's like a catch-22. They don't have the budget to get people on there, and they don't have the people on there buying things to get a good budget.

Not to mention as soon as people try it they can barely get anything to load because it's so damn buggy, so they never even come back. I can see people being afraid their money would just vanish as soon as it gets on there.

That certainly isn't the experience we want our community to have. That's why we are holding back on really marketing this project to the mass population until Blockmarket Web is released. Software is one of the biggest barriers-of-entry to Crypto and we want to get rid of that obstacle completely.

Glad to see you guys are stepping very carefully instead of trying to rush a product out there. Where can I read more about Blockmarket web?

[sebastien1234]

How many Nodes will Syscoin have approximately?

There's no real answer to that question, it really depends on how many people will host masternodes. Currently there's 530382417 SYS mines, which means there's a potential of having up to 5303 masternodes live on the network, this number will increase as we approach the Max supply, (8.888 Million), there will be a maximum of 8888 Masternodes running on the Syscoin network once we have hit max supply.

[sebastien1234]

Not to mention as soon as people try it they can barely get anything to load because it's so damn buggy, so they never even come back. I can see people being afraid their money would just vanish as soon as it gets on there.

That certainly isn't the experience we want our community to have. That's why we are holding back on really marketing this project to the mass population until Blockmarket Web is released. Software is one of the biggest barriers-of-entry to Crypto and we want to get rid of that obstacle completely.

OK I am running the blockmarket app. Pretty cool so far. One gripe is that it's CLOSED SOURCE. I know with a product like this you don't want everybody forking it and killing the idea, but how am I supposed to TRUST this app if I can't read the source? Has there been any sort of security audit?  Thanks for your consideration.

EDIT: found it https://medium.com/@BlockchainFoundry/blockmarket-security-audit-results-and-next-steps-f69f94f149bf


PDF https://www.dropbox.com/s/o6xdq6m6tyfk111/Blockchain%20Foundry%20Blockmarket%20APT%202017%20v1.0.pdf?dl=0

This product is looking more and more professional!  Is the target audience e-commerce vendor shops?

I was going to give you the link but you beat me to it.

Also, keep in mind that Syscoin itself, is completely open-source, all the functions of Blockmarket are technically possible by calling console commands (which was the birth of the world's first decentralized marketplace)

https://github.com/syscoin/syscoin2/releases

The Syscoin API (also open-source) will also allow you to easily harness the power of Syscoin's revolutionary commands https://github.com/syscoin/syscoin-api

Blockmarket is the culmination of over 4 years of work and we certainly do not want to let others copy the work without first creating real network-effect.

The target-audience is absolutely everyone, we want to make Blockmarket Web so easy that absolutely everyone can use it. E-commerce merchants are certainly included in this and are extremely important to have a customer base.

Now of course we also use our work as a proof-of-concept to attract various corporations that have been eyeing Blockchain technology (which is growing at an amazing and exponential rate), we want them to use the Syscoin network and our company (Blockchain Foundry Inc) will help them get onboard and benefit from this cutting-edge technology; the industries that can benefit from our tech are vast; from real estate to retail, from the medical field to government management, almost any industry can really use Syscoin for it's benefit.

[sebastien1234]

tell me, what is the difference between this decentralized market and BitBay (BAY). And also between the new one - https://crowdsale.storiqa.com/

I cannot speak for Storiqa as my understanding as it is a crowdsale for something that we released in July of 2014. Syscoin released the world's first decentralized marketplace then and we have been working hard at developing it for ease-of-use and accessibility for the last 4 years.

With regards to Bitbay, our approach is very different from my understanding but I do not actively follow them. We strongly encourage any innovation that can be made in this space as it can only help everyone. Here's a few differences to my knowledge.

Syscoin:
Blockchain-Based decentralized marketplace(we strongly believe that this is the best solution, coupled with masternodes and if properly harnessed like our protocol, the blockchain can do much more than just send and receive funds).
Decentralized escrow (the buyer and seller have to trust an arbiter if they want to use escrow service), it is not mandatory.
Team: We have Sebastian Schepis, Jag Sidhu, Dan Wasyluk & Willy Ko as our core developers and we have been working with many contributors as well. We also have a marketing and PR team working on propagating the word about Syscoin.
Partnerships: Syscoin and our company Blockchain Foundry Inc has been a partner of Microsoft for almost 2 years https://www.coindesk.com/press-releases/syscoin-official-
microsoft-azure-development-partner/ ; We have also been members of the Decentralized Identity Foundation for almost 1 year: http://identity.foundation/ . We are also Supernet partners.

Bitbay:
Peer to Peer based marketplace (Like OpenBazaar).
Double deposit escrow (the buyer and seller need to deposit double the amount, both lose the amounts if there's a problem with the transaction).
Team: My understanding is that they have one developer David Zimbeck, this can jeopardize the project if something happens to him.
Partnerships: Everything I could find was with relations to BitBay, the exchange and not the currency.
One comment is that since a huge exchange is already called Bitbay and has been trusted for many years, the fact that they decided to call themselves the same name really leads to confusion every time I try to search for them; I assume this would be the same for potential partners and investors that are looking them up.

DYOR(Do your own research) as they say, we strongly suggest you join our Slack, you can DM me your e-mail address and I'll send you an invite.

[sebastien1234]

tell me, what is the difference between this decentralized market and BitBay (BAY). And also between the new one - https://crowdsale.storiqa.com/

Personally, I'm glad they're getting a lot more competition with markets.

We agree! It helps shine a light on the fact that we developed the world's first decentralized marketplace!

[sebastien1234]

What can be done on the marketplace? Buying consumer goods? This is like OpenBazaar?

The marketplace allows you to buy/sell/resell, provide escrow services, transfer digital data via certificates, send and receive encrypted messages, all via hardened smart-contracts, directly on the blockchain.

Although we have some similar goals, Syscoin is very different from OpenBazaar. Syscoin launched the world's first decentralized marketplace in July of 2014; OpenBazaar was officially launched April 4th, 2016.

Syscoin is a cryptocurrency with a decentralized marketplace that is built directly into its blockchain. OpenBazaar is not, it is Peer2Peer software(like BitTorrent) that is developed by OB1.

We've been talking about the benefits of being blockchain-based for a few years now, see our whitepaper http://whitepaper.syscoin.org

We are happy that there is innovation in the decentralized marketplace space, we are all working at making this world a better place.

This is just an amazing feature set! OB is pretty buggy so if SYS and Blockmarket see wide adoption, this will be HUGE.

Agree 100% OB is barely usable even now. Also there's hardly anyone actually buying anything on there.

I guess it's like a catch-22. They don't have the budget to get people on there, and they don't have the people on there buying things to get a good budget.

Not to mention as soon as people try it they can barely get anything to load because it's so damn buggy, so they never even come back. I can see people being afraid their money would just vanish as soon as it gets on there.

That certainly isn't the experience we want our community to have. That's why we are holding back on really marketing this project to the mass population until Blockmarket Web is released. Software is one of the biggest barriers-of-entry to Crypto and we want to get rid of that obstacle completely.

Glad to see you guys are stepping very carefully instead of trying to rush a product out there. Where can I read more about Blockmarket web?

Thanks! We don't have much documentation on Blockmarket Web just yet, however, it will look very much like Blockmarket Desktop(which is constantly being improved) but on the Web, no need for software, just login with your identity and password. The web-service will rely on masternodes to run which is why it relies on the up-coming Syscoin 2.2 Fork.

[waqasniaz007]

When is the rebranding of syscoin? Any date?  Or it is just hype that we have been listening from past few months.

[Sword555]

Do you guys have any big partners?

[sebastien1234]

When is the rebranding of syscoin? Any date?  Or it is just hype that we have been listening from past few months.

It still is on-going and is certainly not hype. Keep an eye out for updates!

[sebastien1234]

Do you guys have any big partners?

Microsoft is the biggest publicly-announced partner we currently have.

http://syscoin.org/syscoin-partners-with-microsoft-azure/

https://azure.microsoft.com/en-ca/blog/syscoin-joins-azure/

https://www.coindesk.com/press-releases/syscoin-official-microsoft-azure-development-partner/

[joblessminer]

How many Nodes will Syscoin have approximately?

There's no real answer to that question, it really depends on how many people will host masternodes. Currently there's 530382417 SYS mines, which means there's a potential of having up to 5303 masternodes live on the network, this number will increase as we approach the Max supply, (8.888 Million), there will be a maximum of 8888 Masternodes running on the Syscoin network once we have hit max supply.

Okay so probably closer to 10% of the maximum I would guess.

[Crypto_Man1212]

How many Nodes will Syscoin have approximately?

Nobody knows, but as price for a MN is high i personally guess between 300 and 500 masternodes , so 30 million to 50 milion coins will be locked and not available for trading .... that will bost the price up !!!!

I hadn't even thought about that affect.

[krazyx]

And price for MN is just getting higher with today's pump !!!
Soon it will be very (very) expensive to get a MN, better buy a big amount now

[Provizor-071]

tell me, what is the difference between this decentralized market and BitBay (BAY). And also between the new one - https://crowdsale.storiqa.com/

I cannot speak for Storiqa as my understanding as it is a crowdsale for something that we released in July of 2014. Syscoin released the world's first decentralized marketplace then and we have been working hard at developing it for ease-of-use and accessibility for the last 4 years.

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One comment is that since a huge exchange is already called Bitbay and has been trusted for many years, the fact that they decided to call themselves the same name really leads to confusion every time I try to search for them; I assume this would be the same for potential partners and investors that are looking them up.

DYOR(Do your own research) as they say, we strongly suggest you join our Slack, you can DM me your e-mail address and I'll send you an invite.

they say that they have a working product...

"Well because we have a working product that actually exists and has been used for many years. Obviously it makes no sense to support a crowdsale without a product... people shouldn't be getting money without actually doing hard work. And as for SYS there is many threads talking about that... to be honest there is no comparison. BitBay has many more features. In fact we have a "wall of features"  https://bitbay.market/wall-of-features"

[alexkid]

Can't wait for Blockmarket Web to be released

[Rogerdale]

And price for MN is just getting higher with today's pump !!!
Soon it will be very (very) expensive to get a MN, better buy a big amount now

Well, it's really good to see the price rising (or at least not falling), but it's a bit disappointing to see the blockchain nearly empty even when Blockmarket desktop was released. Also, have anybody made any calculations on the profitability of Syscoin master nodes?

[gerask0]

how many coins needs for masternode?