layer: News of Syscoin (SYS) - August 2024 Price Update - 25.4% Breakout Crypto News and Analysis
Explore the Core.
The most unique feature of Syscoin is its ability to combine the strongest elements of Bitcoin and Ethereum on a single platform. Syscoin's layer 1 consensus is based on Bitcoin’s SHA-256 PoW model and allows merged mining with Bitcoin. This means that miners can simultaneously mine both BTC and SYS at no extra cost. Comparing Syscoin's hashrate to Bitcoin's it can be seen that generally over 50% of Bitcoin's hashrate also mines Syscoin and that it is supported by several larger Bitcoin pools. Syscoin also provides decentralized finality on top of Nakamoto consensus which effectively eliminates the risks of 51% attacks normally associated with PoW while also retaining proven Nakamoto consensus from beneath
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Explore the Core.
The most unique feature of Syscoin is its ability to combine the strongest elements of Bitcoin and Ethereum on a single platform. Syscoin's layer 1 consensus is based on Bitcoin’s SHA-256 PoW model and allows merged mining with Bitcoin. This means that miners can simultaneously mine both BTC and SYS at no extra cost. Comparing Syscoin's hashrate to Bitcoin's it can be seen that generally over 50% of Bitcoin's hashrate also mines Syscoin and that it is supported by several larger Bitcoin pools. Syscoin also provides decentralized finality on top of Nakamoto consensus which effectively eliminates the risks of 51% attacks normally associated with PoW while also retaining proven Nakamoto consensus from beneath
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Spot the Main Event:
The major news around its price surge is the landmark achievement and celebration of its 10 years anniversary. Syscoin, the security-focused base layer, provides guarantees of ultimate security and decentralization to all the super fast low-cost layers that are built on top or that are integrated with Syscoin's zkDA.
This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.