mining: News of Syscoin (SYS) - August 2024 Price Update - 25.4% Breakout Crypto News and Analysis
Explore the Core.
Syscoin is a multi-layer, multi-network ecosystem that aims to expand Bitcoin's utility and scalability without compromising its core principles of security and decentralization. It is often referred to as "Bitcoin's Layer Zero" because it provides a foundation for building decentralized applications while leveraging Bitcoin's robust Proof-of-Work (PoW) security through merged mining.
OLUWATOSIN GARUBAExplore 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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