Syscoin’s major feature is that it provides a modern businesses platform infrastructure designed to trade goods, assets, digital certificates, data and value all in a highly secure environment.
Syscoin’s infrastructure is based on a native set of features engineered towards the financial sector. Syscoin’s true intrinsic value is based on its decentralized services provided directly on the blockchain.
Syscoin was negatively affected by the “Mintpal Meltdown,” in which 750 BTC were stolen from the Syscoin Escrow Fund. After months of disputes, the Syscoin developer team finally released an update and gave extended feedback to the community. It turns out that Ryan Kennedy / Alex Green / etc, along with Chelsea Hopkins were both arrested in the UK. The team is now working with UK authorities, UK courts, Interpol and the legal bodies to resolve this properly and confirms that the litigation process continues.
During their ordeal with MintPal, the team continued working on its services.The team also took the chance to report some updates regarding their most recent work.
Syscoin has implemented four unique services, all of them built on top of a well-vetted bitcoin-codebase featuring aliases, a marketplace, decentralized storage services, and digital certificate management. However, having implemented all four services at the same time, the team experienced some design gaps that led them to endure an optimization process. Until now, the team has been working on improvements within the core codebase of the Syscoin technology.
Now the team is focused on their newest Blockmarket project and their decentralized platform. The developers’ revealed improvements are being made in order to give a more functional marketplace experience to users while significant changes and additional features are being prepared to be introduced in the next QT wallet version as well.
The team detailed their roadmap and delivered some more updates regarding other key features they are currently working on.
The team provided some details on the state of its Blockmarket project. It is already being used in what the team calls “Beta Phase 1.” Aligning with their goals, the release is set to be distributed between 4 phases:
Blockmarket BETA – Blockmarket is currently in Beta Phase 1.
Blockmarket is open source and built using open source tools such as bootstrap, AngularJS, and NodeJS.
Blockmarket BETA2 – to be released this Friday, the 27th of February.
Acting as a fork from Beta Phase 1, BETA2 will display items for sale from a single wallet; enable buyers to browse a merchant’s decentralized marketplace with a user-friendly GUI, and purchase items through the local QT wallet.
Blockmarket BETA3 – to be released soon after within the first quarter of 2015.
This phase will introduce full URI support for Mac and Windows; details on transactions fully encrypted and some improvements on the design. Emails notifications containing transactions information.
Blockmarket BETA4 – Also to be released within the 1st quarter of 2015.
Order management system added to admin UI, replacing email notifications and the team is also considering to integrate pegging the offers to USD/BTC/Altcoin value.
Following this the Syscoin team also took the chance to report on other important projects such as, Syscoin V2 wallet soon to be released as beta testing, the Mobile wallet which unfortunately is delayed due to complications and some Team updates and strategic position improvement. Even after some hard blows the team proves it is still ready to deliver great work and that tied to their ideal and project in an intimate manner.
Disclaimer: The Author doesn’t hold any Syscoin investment.
What do you think about the Syscoin technology? Let us know on the comments below!
Nuno Menezes is a Portuguese Bitcoin Entrepreneur and a crypto currency’s enthusiast supporting the Bitcoin Portuguese Community. He is an Anthropologist and a Writer and his current field of work is virtual currencies. Complementing his Social Sciences Master degree with a Professional background in telecommunications along some experience in Computer Science, he intends to bring knowledge and understanding about the impact of crypto currencies in society.
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