Syscoin Decentralized Marketplace
When Satoshi Nakamoto presented the blockchain concept, there was mentioned a decentralized marketplace where cryptocurrencies could be spent in exchange for products and services. Bitcoin platform produced the cryptocurrency but due to the lack of resources didn’t go as far as to create a marketplace.
Syscoin platform fulfilled the void niche. It was initiated in 2014 as a Bitcoin fork, proposing the creation of such a marketplace. Its updated Syscoin 2.0 version core algorithm allows for simultaneous merged mining with Bitcoin which added to platform’s popularity and scalability, increasing its capability 100 fold. The system now supports about 750 transactions per second, and that number is expected to rapidly rise to 300K TPS after the release of masternodes in Q1 2018.
Syscoin Blockmarket Decentralized Application
Syscoin’s Blockmarket Dapp is an already functional marketplace and goes through the stage of constant improvement. Thanks to blockchain architecture it is always up and running and allows its users to sell goods without having to maintain their computers online all the time.
The primary purpose of such a marketplace is to remove the third party corporations like eBay or Amazon that account for a large part of product price by collecting enormous fees for their services. Blockmarket makes it possible for businesses to buy and sell goods with minimal or no fees, providing them with the opportunity to open virtual stores on the platform and even resell other’s products for a commission.
The platform has its cryptocurrency, ticker symbol SYS. It has a maximum amount supply of 888M coins. You can download the wallet to store your SYS for Windows and Mac OS from Syscoin official website. The platform also supports unique user Aliases that replace the bulky alphanumeric addresses.