First of all, I am a huge Bitcoin enthousiast. But sometimes it is healthy to look broader than Bitcoin alone. There could be a lot of innovation in other altcoins. And there are a lot of altcoins out there. Most altcoins have no development whatsoever, but some altcoins do have a development team that surprises me in a positive way. One of these development teams is the team working on Syscoin. As a big Bitcoin supporter I'm looking with sceptical eyes to altcoins, but Syscoin makes an exception on this rule. I did my research on Syscoin and want to share it here. I'm interested what your view is on Syscoin, so please read this article and leave a comment below.
Why Syscoin could get traction in Q4 2016
Formation of software development company
A few months ago the Syscoin team announced that they created a new software development company, called "Blockchain foundry". Blockchain Foundry will be the first company that both produces a blockchain technology as well as products on top of the Syscoin blockchain that deliver real world value and are instantly available to end users through Microsoft Azure BaaS. This certification will also mark the release of Blockchain Foundry's first revenue-generating product built on the Syscoin platform (the Blockmarket API, see more in this article below)
See also there website: http://blockchainfoundry.co
Syscoin 2.1 based on Bitcoin core 0.13
The syscoin development team is rebasing Syscoin 2.1 from Bitcoin 0.12 to Bitcoin 0.13, so it is completely up to date with the latest Bitcoin core. This is very improtant for future development.
Syscoin 2.1 will contain a lot of new features to support Blockmarket (decentralised market place), which will be build on the Syscoin blockchain. After evaluating Syscoin 2.0, which came out in April 2016, a lot of new features will be added to Syscoin 2.1. See some of the features below:
- Safe Search/Item Moderation (optional, on by default in team-provided wallet)
- Search Pagination
- Default Alias
- Message Ordering, Escrow Ordering
- Special pruning mechanism designed specially for syscoin services,
which solves bloat issue
- Additional Themes [3]
- Easy Unlock for Encrypted Wallets
- Archive / Hide Sold Out Item
- Item Geolocation
- Suggested Categories
- Search within Category
- Ability to hide completed/refunded/expired escrows
- Feedback/Ratings System
- Wanted to buy item listings
- and a lot more...
However, One of the biggest features is bitcoin escrow
One of the biggest features that the Syscoin team have added lately is bitcoin escrow. Personally I think this addition is huge. Not only you can syscoin be used for purchases, but also bitcoin. This makes it very attractive to use the decentralized marketplace for the Bitcoin Community.
See also: http://syscoin.org
Microsoft certification
Currently Syscoin is in the process of getting a Microsoft Certification to make Syscoin the only bitcoin-derived blockchain offering to be certified by Microsoft. This certificate is also expected in Q4 2016.
Decentralized Marketplace called "Blockmarket"
Blockmarket is Syscoin's first official product built on the Syscoin 2.1 platform. It represents a consumer level product, enabling merchants to stand up their own, fully customized and branded marketplace. It will be available in both web and web-mobile formats. In the milestone 1 (M1) release users will be able to experience individual Syscoin marketplaces through the browser and on mobile web. Users will be able to stand up their own marketplaces using Blockmarket and Microsoft Azure or a different hosting provider. Blockmarket can be entirely customized to produce a truly unique "storefront" for every merchant.
Conclusion
the Syscoin team has put an enormous effort in there strategy and development how to move forward with the Syscoin blockchain and products on top of the Syscoin blockchain. The described developments above are planned to come out in Q4 2016. If they can pull it off to release the points above without any problems, Syscoin and Blockmarket could be huge.
So, Will Syscoin Fly in Q4 2016 with the help of the Bitcoin community? I'm interested what your view is on Syscoin, so please leave a comment below.
Keep in mind: this is no investment advice, just my obvervation.