Highest Rated Comments


Chob_Gobbler16 karma

Heh heh

Chob_Gobbler8 karma

EDIT: Breaking this up into multiple questions

Chob_Gobbler6 karma

Edit: Broken up into multiple posts

Chob_Gobbler6 karma

I'm not on the team but I've put some thought into this one:

  • Public companies are driven to produce profit for the shareholders, this increases the drive for continued development and innovation.
  • Public companies have to produce quarterly reports and financial information, this in turn gives Syscoin a very low level of fraud risk (compared to other cryptocurrencies)

Chob_Gobbler6 karma

Yeah. Considered a "currency", Syscoin is a blockchain that delivers all of the capabilities advertised. Identities, certificates, currency exchanges, arbitration, literally everything. All of this is delivered in a way which does not require you to trust anyone: when you send money to a person, save a certificate, create a listing, etc. it is irreversible and a part of a ledger which is impossible to censor.

Blockmarket is basically the GUI that you use to access the data on the blockchain. If Blockchain Foundry chose to stop operating or someone else wanted to compete another UI could made to interface with the blockchain (syscoin).

The purpose of Syscoin is not to make money, it is simply the trustless middleman that connects you with the guy who owns the lambo you want to purchase. He posts the lambo listing on the Syscoin blockchain, you read it through the Blockmarket application, you send him money on the syscoin blockchain (using the blockmarket).

It's confusing to get started with. It helps to think of Syscoin as the backend programming language and Blockmarket as the operating system with all of the pretty pictures and fancy buttons.