Cryptocurrencies are poised to make a tremendous impact on mainstream commerce. None more so than Syscoin, which aims for nothing less than a decentralized platform for online retail. In other words, Syscoin could be the next Amazon or Walmart.
These retail outlets have garnered increasingly vociferous criticism for their monopolistic tactics and cold-blooded labor practices. But, at the same time, there appears to be no alternative to the centralized e-commerce model they embody, nothing that would afford the same combination of high speed, low price, and supreme convenience.
However, if Syscoin succeeds in its aim to abolish the middlemen altogether, allowing people to use the virtual currency to trade directly with each other over the blockchain network, there could emerge a new form of inclusive, equitable marketplace.
It could really be a game-changer, and that's why we decided to bring this Syscoin price prediction article to you!
How viable is this scenario? Is Syscoin really up to the task? What are the origins and history of this platform, and what are its future prospects? Should you, the investor, give some consideration to this promising venture? To be blunt, how much will its stock rise in the next few years?
Syscoin Historical Price Analysis
Launched in 2014, Syscoin is one of the first cryptocurrencies to jump into the blockchain bandwagon. However, for almost three years, until 2017, it remained a low market cap altcoin, with the price of one cent per token. Like other altcoins, it underwent a sustained bull run from 2017 to 2018, almost touching the dollar mark in the January of 2018. In the meantime, Syscoin introduced a number of innovations discussed above, and while the price crashed eventually, it remained in the range of 4-10 cents.
Current Price, Market Cap, & Supply Details
At the time of writing, Syscoin is trading at 11.5 cents per token, with the change of 5.82% in the past 24 hours. The altcoin has a market cap of 69.26 million. The total supply of Syscoin is 888 million.
Syscoin Future Price Forecast Predictions
Price forecasting requires careful historical analysis and judicious projection of that analysis in the future. It is true that past performance is no guarantee of future success.
At the same time, if promises are being fulfilled, goals met according to expectations, and new and innovative goals constantly being set, one can make a reasonable prediction of a bright and rosy future. All of this is true of Syscoin, whose prospects are approximated below:
Short Term Forecast
Long Term Forecast
*This price prediction is based on the data collected from various sources meant strictly for educational purposes only and shot not be taken as investment advice. Users should do their own research before investing.
Syscoin Price Prediction 2021
Syscoin will continue to grow and innovate throughout this year.
As per the forecast and algorithmic analysis, the price of 1 Syscoin token (SYS) could potentially be around 0.131 in 2021.
Syscoin Price Prediction 2022
With a new and improved interface and widespread penetration of blockchain in society, Syscoin is set to continue its present course.
As per the forecast and algorithmic analysis, the price of 1 Syscoin token (SYS) could potentially be around $0.135 in 2022.
Syscoin Price Prediction 2025
Syscoin will probably reach an inflection point this year as more and more people will use it for their everyday business.
As per the forecast and algorithmic analysis, the price of 1 Syscoin token (SYS) could potentially be around $0.210 in 2025.
Is Syscoin a Good Investment?
While many coins have stagnated and even gone into hibernation, Syscoin has been quietly setting goals, meeting expectations, and fulfilling its promises. It is supported by a brilliant team (see below) with genuine innovations under its belt. With features such as the ZDAG protocol, it might even be within striking distance of achieving the blockchain holy grail of high speed and robust security.
While competitors (such as Neo, Origin, or BitBay) are in the field, it is not hard to imagine that Syscoin, with its versatile Ethereum bridge, will be the first to offer a truly decentralized version of the Amazon marketplace in the near future. As far as it goes, it has a bright prospect.
There are, however, disadvantages to decentralized markets as well. The most obvious one is the lack of regulation. It is not clear how the Syscoin platform can prevent the sale of illegal items such as drugs and weapons. Some items, such as guns, are legal in one jurisdiction and illegal in another. How is a decentralized marketplace going to deal with such issues?
Compliance is going to be a major headache. However, it is not impossible that a workable solution will be reached. Syscoin insists adamantly that it is compliant with all relevant laws and regulations.
After all, online retail, when it first emerged, was mired incomparable confusion regarding jurisdiction and regulation. Such confusion cleared up in time, and Amazon, eBay, and other giants became the biggest companies on the planet.
How to Buy Syscoin
Syscoin is available in several exchanges such as Binance, Bittrex, Coinswitch, and others. If you already hold bitcoin, you can use your bitcoin wallet to exchange Syscoin. Create an account on the exchange, verify your identity, and secure your account using two-factor authentication. Now deposit funds in the account, and once funds show up, exchange them for the desired amount of Syscoin.
More Information About Syscoin
Launched in 2014 as a Bitcoin fork, Syscoin can be merge-mined together with Bitcoin, which gives it a secure foundation. At the same time, Syscoin is faster and much more scalable, achieving a throughput of more than 60000 transactions per second (TPS), compared to less than 20 for Bitcoin.
Syscoin appears to have truly solved what Vitalik Buterin has called the “blockchain trilemma:” the apparent fact that among the virtues of decentralization, security, and scalability, one can choose only two and forgo the third.
Conventional credit cards, to be sure, choose the latter two at the expense of the first (they are controlled by corporations such as VISA), while altcoins, decentralized by definition, pick one or the other of the latter two.
Syscoin cuts the Gordian Knot with the blisteringly fast Z-DAG protocol, a proof-of-work consensus mechanism built atop the main Syscoin layer.
In addition to a robust e-commerce platform, Syscoin 4.0 has built a fast and secure two-way bridge with Ethereum, making it interoperable with ERC-20 tokens. In this way, Ethereum developers can take advantage of Syscoin features, and vice versa.
Ethereum transactions, like those of Bitcoin, are comparatively slow, but users can mobilize Syscoin's high throughput to transact quantities of tokens speedily across the network; likewise, Syscoin users can utilize Ethereum features such as smart contracts. In time, developers will be able to construct bridges across other networks as needed, making the platform much more powerful.
Syscoin also offers a digital authentication service, which enables users to utilize cryptography to issue and authenticate encrypted digital certificates (titles, warranties, licenses, and so forth).
Syscoin is not without rivals. Other platforms such as Origin and Bitbay also aim to offer decentralized e-commerce protocols. Investors will be wise to take these competitors into account while evaluating the long-term prospects of Syscoin.
Syscoin is lead by Jag Sidhu, the co-founder and the lead core developer of the platform. He is an expert in machine learning and artificial intelligence with more than 20 years of experience in software development. The marketing team consists of Andres Cortes, a dApps developer, along with a team of other developers.
In sum, Syscoin is a promising platform with immense potential for future growth. After a rather slow start, it has been building up capacity, and it has introduced a good number of innovative features along the way. It even claims to have achieved a high level of security combined with high speed.
If it continues on this path, it is reasonable to foresee a future where it can offer a truly inclusive and decentralized marketplace –a blockchain Amazon–in which anybody can participate. However, obstacles remain. The most obvious, of course, is the question of regulation, which dogs blockchain technology in general. Will a truly decentralized marketplace come into the crosshairs of regulators?
Amazon, for instance, is a corporation that operates under a well defined legal framework. It might not be held liable for all illegalities that take place in its site, but it is obliged, at the same time, to prevent them to their best ability by taking certain actions.
Will there be a similar legal framework in place for Syscoin when (or if) it comes to mature fruition? Or will Syscoin be forced to operate in shadows, a haven for criminals and dealers of shady merchandise?
Only time will tell, but there is no reason to be prematurely pessimistic on this score. Blockchain is gaining mainstream acceptance every day, even by governments, so we can hope to have an enlightened and progressive view instead of shutting the project down in its early days.