Syscoin Update — 20 May 2018

As of today, the SYSCOIN Community will provide weekly updates about Syscoin technology, new features, marketing, and upcoming events!

These updates will contain information about news, updates, and if applicable, new releases. This update will be a bit longer than the upcoming ones, since it is the first one and we would like to share some things in more detail (among others topics about marketing). We aim to write the upcoming updates in such a way that you will be able to read them within 3 to 5 minutes. 
With these updates the community is able to get themselves quickly informed and updated with the latest developments around Syscoin. Topics which are covered structurally on a weekly basis are:

Important Notifications
General Updates & Info
Marketing & Communication
Technical Updates & Info

Sometimes, additional topics are added if relevant and necessary (e.g. new releases). If you have any good ideas, please feel free to share them with us in our Slack Channel “Community Marketing”. Enjoy reading from now!

Important Notifications

• Do not withdraw/send funds to BM1.2.X.
• Do not withdraw/send funds to QT2.1.X.
• Doubt sending funds? Wait till BM3!
• A Masternode Alias is not a SYS Alias!

General Updates & Info

Marketing & Communication

• Proactive marketing for more visibility. 
• Marketing strategy and content planning.
• More updates to the community.

What does this mean daily?
· Regular weekly SYS Updates.
· Structural marketing regarding features.
· Increased visibility on official channels.
· Structured communication on releases.
· We aim to update you frequently!

What is our goal with these actions?
· Getting the word out more frequently.
· Increasing overall visibility of SYSCOIN.
· Addressing concerns regarding marketing.

Mandatory upgrade: SYSCOIN 2.0 to SYSCOIN 3.0


2.0 chain was copied on May 2nd and started on the 3.0 chain. So the 3.0 chain retains all information from the 2.0 chain as of May 2nd.

If balance/aliases on May 2nd, they will be available on the 3.0 chain. You just need to upgrade to the 3.0 chain with SYSCOIN QT 3.0.4

Any events on Blockmarket 1.2.X or QT 2.1.X after May 2nd are not valid.

If you had coins on Poloniex, you are fine. Buying and selling on Poloniex while the deposits and withdrawals are paused is okay because their SYS tokens are represented internally on a database. Once they resume trading and withdrawals and deposits resume, they will be redistributed on the 3.0 chain.

Yobit did not upgrade or pause deposits and withdrawals, and are therefore responsible for any trades, withdrawals or deposits taking place on their platform after May 2nd.

Exchanges who upgraded from SYSCOIN 2.0 to SYSCOIN 3.0 at the date of this update being published:

  • Bittrex
  • Livecoin
  • Coinomi (still in Beta-new release coming)
  • Binance
  • Sistemkoin
  • Vebitcoin
  • Bittylicious

Technical Updates & Info

Getting Aliases for Airdrop 1st June
• Aliases will become available in BM3.
• There is a new Syscoin QT 3.0.4 release:
• BM3 will be launched upcoming days.
• BM3 is in final testing.
• Within BM3, new Aliases can be linked to existing addresses.
• You will not need to move Masternode locked coins or lose seniority.

The Alias can be attached to your masternode address. A specific guide for 
 this will be written and published.

Please note again: A Masternode Alias is not an Alias for SYS.


• At the moment of publishing there are more ~900 masternodes online.

• Latest release of QT to run MN’s is version 3.0.4. Covers fixes for MN status.

• Upgrading from 3.0.3 to 3.0.4 is not mandatory at the moment.

• Masternode daily reward calculation: 37411.2 SYS per day divided across the number of active masternodes (Currently ~900).

• Nodes can’t receive blockrewards before they are online. Once online, it takes 2.6 * |masternodes| / 60 hours to get your first reward.

Checking masternodes

You can check your nodes with your server console on your server (e.g. Putty). Uptime of your master node can be checked by inserting this line into you server console (e.g. Putty):

syscoin-cli masternodelist activeseconds | grep your IP

Number of master nodes running is found by inserting this line into your server console (e.g. Putty):

syscoin-cli masternode count


If anyone has any suggestions regarding information to be included in this weekly newsletter, please let us know and join the “Community Marketing” channel on Slack.

In this way we are able to improve our marketing and communication efforts to the community.

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