Syscoin (SYS) Price

What Is Syscoin?

Syscoin probably has the most complex technical narrative among all current Layer 1 public chains, because Syscoin incorporates the narratives of Bitcoin and Ethereum into its own narrative. The difference between Bitcoin and Ethereum is quite big. If we distinguish between men and women, Bitcoin is a woman and Ethereum is a man. It is relatively rare to explain both men and women clearly at the same time.

To understand Syscoin, you need to have a good understanding of both Bitcoin UTXO and Ethereum EVM technologies. Therefore, if you spend time explaining complex technologies, you cannot effectively evaluate the value of Syscoin. This is why BingX’s narrative assessment of Syscoin at the end is “possibly undervalued”, unlike other tokens that have very clear valuations.

To briefly explain, Syscoin uses Ethereum's smart contracts and uses the Bitcoin network to verify the smart contracts. This is very similar to the first generation of Ethereum, which also uses the POW method. The second generation of Ethereum was upgraded through Shanghai and modified POW to POS.

Syscoin was founded in 2014, so it adjusted the Ethereum EVM framework and developed NEVM. Because Bitcoin does not have a smart contract, it is just a ledger, so NEVM sends the processed results using Bitcoin UTXO. The Bitcoin network is equivalent to Layer 2 of Syscoin. Syscoin is a double-chain structure.

Since Syscoin was developed in 2014, it has been continuously upgraded. The current Syscoin has many popular advantages of blockchain, including ZK, Roll-up, modularization, etc. The good thing is that various tokens on Ethereum can use syscoin to use the Bitcoin network.