Syscoin Assets

What is a Syscoin Asset?

Syscoin Assets will provide a layer of tokenization on top of the Syscoin network. They utilise Z-DAG, a proprietary system for ordering transactions which enables secure, high network throughput on the ledger. This allows for real-time point-of-sale applications via the Assets platform on Syscoin. The first project to make use of this feature is the cryptocurrency payment processor, Coinpayments, Their Asset is CPS coin, which is available on the Syscoin platform. Other upcoming assets are; CAB a ridesharing token from Bitcab, LTY from Longevity United and AiBB token for their AI based trading platform.

Transacting Assets on the syscoin network incurs a micro-fee which is paid in Syscoin, much like gas on the Ethereum platform. Due to the fat masternode transaction layer running on the Syscoin blockchain, the fee for submitting a transaction will be in the order of 0.001 Syscoin. Fees do not scale with the volume of traffic on the network, this means they will remain low even when the network is busy.

What are they for?

Use-cases include loyalty points, as well as coins backed by physical assets and service backed currency. Syscoin Assets can also track individually-minted tokens as inputs during transfer of ownership. The creator/owner of the asset can mint and allocate tokens to other alias identities, which can then subsequently transfer ownership of tokens to other alias identities. The tokens can be divided up to a definable amount of decimal places, allowing for a flexible unit-of-account model depending on the use-case.

For example, in a gold-backed Asset token, you may want to track ownership of entire gold bars which are stored and audited in a vault with serial numbers. Because Syscoin Assets can track inputs when sending tokens, you can place ownership of the gold bars and link them to the external serial numbers through Syscoin's off-chain data-anchoring mechanism, which will store an off-chain data file associating the token inputs to serial numbers and anchor them cryptographically to the Asset object from the Asset owner. A central issuer would allow redemption of the bars based on ownership of token inputs.

How can I issue an Asset?

Assets will be able for issuance directly via the Blockmarket user interface! The interface allows you to issue interest bearing Assets, airdrop them or create un-dividable Assets. Using the Blockmarket interface you will be able to issue your own Asset in minutes.

Issue an Asset/Coin/Token yourself!

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