Syscoin 2.1 Released and New Payment Processor!

We’re very happy to announce that Syscoin 2.1 was released successfully on December 18th, 2016 as planned. Because of the network changes involved with this release we first distributed to the 2.1 client to exchanges, service operators, and mining pools to confirm the new network was operating properly prior to releasing the final Syscoin 2.1 binaries to the public. Syscoin 2.1 is something the team has spent the majority of 2016 working on- after releasing Syscoin 2.0 in April of this very same year. The features and capabilities in Syscoin 2.1 simply blow those of Syscoin 2.0 out of the water. Not only that, but in parallel with completing Syscoin 2.1 development we’ve been working on expanding the Syscoin ecosystem as well, and we have exciting news to share!


Syscoin 2.1 Release and Download

Syscoin 2.1 is a mandatory update. The features contained within Syscoin 2.1 have been listed before, the full list can be found in our release notes on GitHub. Syscoin 2.1 includes 18+ new features at a core blockchain level! It’s important to understand the purpose and value of these new features, some of which will become clearer as we release use-case papers on them or integrate them into upcoming products we have planned through Blockchain Foundry.
One of the key new features is multisignature Syscoin services which introduces an entirely new class of transactions intended to replace today’s more antiquated systems which are prone to human error. While Syscoin has traditionally been thought of as only having applications for the “marketplace” use-case these new features provide us with strong use-cases around which products for medical, legal, real estate, and even financial sectors can be developed.
The feature changes around Syscoin Aliases also allow for a more feature-rich blockchain identity platform on the Syscoin network. Blockchain pruning ensures all of this new data being added to the chain is sustainable and scalable over time. The ability to purchase items using the ZCash currency provides both buyers and sellers with greater privacy on the Syscoin marketplace. All of these features combine to deliver one of the most innovative blockchain solutions with real-world services people can use today.
Another major change in Syscoin 2.1 is that we coordinated with the mining community to advance the mining schedule and reduce inflation. We used the 2.1 release as a “halving event” reducing inflation from 6% per year (or roughly 54SYS per block) to 1.5% per year (or roughly 16SYS per block) representing a 330% reduction. This reduction still follows our original mining schedule it simply accelerates it to reign in overinflation.


CoinPayments Payment Gateway

We’re proud to announce we’ve been added to the CoinPayments payment gateway! Syscoin can now be used to purchase goods from the hundreds of stores which integrate with CoinPayments! CoinPayments also has an innovative API for merchants allowing for custom integrations. We’ve also signed up for CoinPayments block explorer and faucet service. Our explorer and faucet has not yet been activated but it will provide Syscoin users a secondary third party block explorer through which to verify their transactions as well as a faucet — something crucial for getting new users SYS quickly and anonymously!
Joining CoinPayments is just the first step in a larger strategy that will make Syscoin available on even more platforms. We’re actively talking with a big name in the payment processing space and hope to be able to share news in regards to that partnership/addition very soon now that CoinPayments integration is completed.


Microsoft Azure Product Certification

Our business unit has continued to focus on the completion of our Microsoft Azure Product Certification for Blockchain Foundry. We’re happy to announce that after much discussion, and having the identities of all team members verified in order to proceed we’re at the very last phase of the process. All that remains is for the Microsoft team to review the packaged product we’re looking to sell on the Azure marketplace — the first of which will be a simple Syscoin-API one-click deploy service. Once they have reviewed the packaged product and approved it we’ll become the only other company on Azure (aside from BlockApps, who works with Ethereum) to be Blockchain product certified.


Syscoin 2.1 Whitepaper

We’d planned on releasing the Syscoin 2.1 whitepaper alongside Syscoin 2.1 itself but due to its breadth and depth we didn’t want it to get lost in the shuffle. We’ll release the whitepaper Dec 26th, 2016 and it is very detailed.


What’s Next?

It’s been a busy year getting Syscoin into a shape where it can support the massive plans we have for it. Now backed by our company Blockchain Foundry and with the 2.1 release under our belts, active discussions with Microsoft, adding new payment gateways some of which are not yet publicly known — we’re on a good course forward. We’re working on redesigning and updating all of our web properties ahead of the Q1 2017 Blockmarket release.
With Blockmarket and a new Syscoin desktop wallet experience being released in Q1 2017 (just a few months away!) we have a very bright future ahead of us. We’re also working on securing our first round of investment funding for Blockchain Foundry, which would serve as a massive development and marketing accelerator; and with the Syscoin Core now more capable than ever we’re confident it’s only a matter of time before that funding is secured.



Wallet Downloads
Note: The upgrade process for 2.1.1 is the same as 2.0. You must close the 2.0 wallet application and delete it, backup wallet.dat, delete Syscoin data directory contents, replace wallet.dat in Syscoin data directory, and then start the Syscoin 2.1.1 wallet application.

Mining Pools

Syscoin 2.1 Block Explorer and Rich List

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  1. December 21, 2016 17:02

    That looks promising, exciting times ahead !!

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