Syscoin was introduced to the public in July 2014. Syscoin is also the first of its kind in the fully decentralized market where companies can directly exchange coins from one another, currency, stocks, products and so on. The system is based on the Scrypt algorithm and uses proof-of-work protocol.
Syscoin Blockmarket Desktop 1.0 was released and the Syscoin team was releasing their Block Market tutorials on a timely manner. At an initial price of INR 13.06 on 1 September 2017 SYS was fluctuating in the following weeks to finally at INR 10.56 on 30 September 2017.
Syscoin partnered with Ballistic Arts, a marketing agency on a project named, Blockchain Foundry, SYS began at INR 10.32 on 1 October 2017 and finally experienced a momentum at INR 15.85 on 30 October 2017.
The Syscoin team had released a few Masternodes. SYS was INR 13.03 on 1 November 2017 and quickly moved up to INR 18.04 on 30 November 2017.
SYS started off at INR 20.81 on 1 December 2017 and fluctuated to settle at INR 50.94 on 29 December 2017.
SYS started off at INR 50.06 on 1 January 2018 and fluctuated to settle at INR 33.43 on 31 January 2018.
SYS started off at INR 34.73 on 1 February 2018 and fluctuated to settle at INR 42.55 on 27 February 2018.
Syscoin has confirmed that it has introduced the Lightning Network (LN) on its main network, thus becoming the first cryptocurrency to reach this milestone.
The Lightning network uses existing Blockchain technology to provide fast payments between participants. Its implementation is a key objective for cryptocurrencies, including Bitcoin, where it could significantly reduce transaction processing times.
Although LN does not depend on a consensus for its implementation, progress has stalled on Bitcoin in the current scale debate. The separate witness is considered a prerequisite for an appropriate LN deployment, although technically, the developers have stated that a 'poorer' version could be created without it.