Syscoin Community Weekly Update #3

This weekly update is written by the community for the community, to bring you all the latest Syscoin, Blockchain Foundry and SCMT news! Thank you to our Slack member @blgh for compiling this update.

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General Syscoin Update

New ‘Summary’ Whitepaper

The dev team have released a simplified version of the Syscoin 3.0 whitepaper, to improve accesibility and help you look more closely under the hood! Keep your eyes peeled also for a new series of team-led micro-studies, that will further aid your understanding of this ground-breaking (and neccessarily complex!) whitepaper.

Blockmarket 3 (BM3)

The new Blockmarket client has required more testing than previous clients, simply because there are more features than ever before. We are happy to say that testing continues to progress well, and Blockchain Foundry hopes to have a release candidate ready very soon.

CPS Airdrop Snapshot

On July 1st the Coin Payments coin (CPS) airdrop snapshot will record the balance of all Syscoin Aliases on the new 3.0 chain. 6% of CPS released into circulation will be distributed proportionally among these Aliases. In Blockmarket 3, it will be easy to make an alias and attach this to an (existing) address so don’t worry about missing out! If you can’t wait to make your Alias, and are technically competent, here is guide to creating an alias with the QT wallet.

The airdrop itself is also scheduled for July 1st!

Please note: A Masternode Alias is not the same thing as a Syscoin Alias.

Great article about BCF and Syscoin on The Telegraph website

How to find good blockchain experts? A serious question to which Dan Wasyluk (Blockchain Foundry) has the answer. Read the article here.

SCMT news

SCMT Twitter account

Syscoin is a decentralized cryptocurrency to which Blockchain Foundry Inc. contributes, but as a public company their founders are not permitted to lead Syscoin community marketing efforts. To officially represent the Syscoin community, we have now created an SCMT Twitter account. Please follow us for all the latest community news, as well hot-of-the-press Syscoin and BCF updates. The Syscoin team will also share our posts via their official social networking channels, to help spread the word.

SCMT proposal success

Thanks to the community, a winning number of votes have been cast on the SCMT marketing proposal!

In Syscoin’s inaugural decentralized governance payout, 118,630.0 SYS were sent to the Syscoin Community Marketing Team, and 50,000.0 SYS were sent to the Chinese Syscoin Community for their marketing efforts.

We are tremendously grateful to everyone who voted for us, and we will endeavour to use the funds wisely and as efficiently as possible.

Whats coming up?

We are busy working on new marketing ideas. Some of the things you can expect in the near future:

  • Launch of the new website
  • More YouTube content: reviews, updates and interviews with the team
  • An animated explainer video
  • Explainer and news updates with presenter style similar to Dash’s Amanda
  • Continued collaborations with Content writers and publishing platforms

Community Marketing Mini-Proposals

This is live! You can now submit proposals that require smaller amounts of Masternode funding. We have set aside $2000 worth of SYS this month for community members to apply for, and we will conduct a poll that will enable the community to vote on which proposal to fund. If you want to apply for funds, please fill out this form before 24th of June:

SCMT Charity Merchandise

Last week we launched a range of Syscoin merchandise with a design based on a shirt worn by a prominent team member at Consensus… All profits go to Save the Children (global) and the NSPCC (UK). Dig deep!

Upgrading from Syscoin 2.0 to Syscoin 3.0

Important Notifications

  • Do not withdraw/send funds to BM1.2.X.
  • Do not withdraw/send funds to QT2.1.X.
  • In doubt about sending funds? Wait till Blockmarket 3 (BM3)!

As stated in the previous Syscoin Weekly Update, upgrading your wallet from Syscoin 2.x to Syscoin is mandatory. Please find the upgrade guide here. You can download Syscoin QT here.

Technical Updates

  • New wallet released: SYSCOIN QT You can find it here.
  • In BM3, you will be able to link new Aliases to existing addresses.
  • Again, can’t wait for BM3? Please find a step-by-step guide here to create an Alias with the SYSCOIN QT wallet.
  • You will not need to move Masternode locked coins or lose seniority.


  • At the moment of publishing there are ~1045 masternodes online.
  • ‘Seniority’ will get you +3% ROI for every 4 months running your MN.
  • Latest release wallet for creating/managing masternodes is QT
  • Masternode daily reward calculation: 37411.2 SYS per day divided across the number of active masternodes (Currently ~1045).

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 address]

For more information visit

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