FAQ
How do I add Syscoin to MetaMask?#
You can add Syscoin to MetaMask using the table below. If this fails for any reason then please follow the guide here. Welcome to Syscoin!
| Network | |
|---|---|
| Syscoin NEVM Mainnet | |
| Syscoin NEVM Tanenbaum (Testnet) | |
| Syscoin Rollux Testnet |
Learn about Syscoin Rollux.
What is NEVM?#
NEVM stands for Network-Enhanced Virtual Machine, this is what powers Syscoin's smart contract layer and enables dApps to be built on top of the Syscoin blockchain. It is a version of Ethereum's EVM but modified to operate in tandem with the Syscoin main chain. You can read more about NEVM here.
Is Syscoin Proof of Work (PoW) or Proof of Stake (PoS)?#
Syscoin is Proof of Work and is merged-mined with Bitcoin, meaning that Bitcoin miners who also decide to mine Syscoin don't have to expend any extra energy to mine the Syscoin blockchain; the energy that goes into mining Bitcoin can be used to mine Syscoin at no extra cost. On top of this Proof of Work model, Syscoin provides a network of masternodes that provide additive security in the form of multi-quorums that generate chainlocks as an efficient and effective source of decentralized finality. Syscoin's network of masternodes is on the decentralized side of the spectrum with typically well over two-thousand masternodes being independently owned and operated at any time. In this sense, Syscoin could be considered a hybrid of Proof of Work and Proof of Service.
What is Syscoin's max supply?#
SYS coinomics are very similar to Ethereum's EIP-1559. With the release of NEVM, Syscoin Protocol balances inflation/deflation dynamically and no longer has a maximum supply. Any gas fees spent on smart contracts are burned. The purpose is to provide an ideal utility-focused economy for a global user base, now and into the future.
How do I transfer SYS to the NEVM chain for using smart contracts?#
To transfer your SYS from the base chain to the NEVM chain you can use the Bridge dApp, created by the Syscoin developers.
What is Syscoin's block time?#
Syscoin's Layer-1 block time is 2.5 minutes. Syscoin's Layer-2 blocktime is near-instant. This serves several purposes. For one, this disincentivizes direct use of the L1 by end users who actually belong on L2. Additionally, it is a sufficient window of time to ensure a very high probability of achieving a multi-quorum chainlock. Syscoin uses chainlocks to further secure its blockchain with finality in addition to Bitcoin merge-mining. Syscoin's L1 is designed to serve as a secure settlement layer for Optimistic Rollups and ZK-Rollups where the vast majority of dApps are destined to operate. As such, end users will never experience the 2.5 minute block time while using rollups. Their blockchain interactions, whether DeFi, GameFi or other uses, will be near-instant and extremely low cost while being secured by Syscoin's L1 in the background.
How secure is Syscoin?#
Syscoin is merged-mined with Bitcoin, what this means is that the miners mining Bitcoin can mine Syscoin at the same time, with no extra power required. At time of writing Syscoin has around 25% of Bitcoin's hashrate (mining power). The Syscoin hashrate can be seen here. We are looking to onboard more miners for even more security. Besides having 25%~ of Bitcoin's hashrate Syscoin also has chainlocks, which help to secure the chain even further by preventing selfish mining.
Where can I buy Syscoin?#
Here is a list of some exchanges where you can buy Syscoin.