Syscoin's cryptocurrency marketplace to rival OpenBazzar
Syscoin has launched a cryptocurrency marketplace, which accepts both Syscoin and Bitcoin, as a challenger to existing marketplace OpenBazzar. Syscoin claims to offer several advantages over the service offered by OpenBazzar, including the integration of blockchain technology, greater privacy capabilities, and a full mobile application. 

Syscoin, a cryptocurrency built specifically for online merchants, has added Bitcoin purchase support in its latest update – effectively turning its wallet into an OpenBazzar competitor.

This was done by implementing DirectBTC which now allows anyone with bitcoins to participate in the Syscoin decentralized marketplace, without syscoins. The developers hope that by experimenting with their wallet for shopping and selling bitcoins, users will eventually decide to adopt the cryptocurrency as well and buy the coins.

“DirectBTC now allows anyone with bitcoin to become a buyer or seller with no middleman risk,” said Dan Wasyluk, Syscoin team manager. “It is also a great introduction into the broader set of capabilities unique to Syscoin for merchants to have the greatest amount of autonomy over what and how they sell.”

Screenshot: Syscoin

Syscoin also features a suite of other decentralized functions, including; encrypted messaging, integrating smart contracts, an affiliate program, aliases, certificates and fiat to Syscoin price-pegging. All of the services are provided in the wallet and web based decentralized marketplace, Blockmarket.

The cyprocurrency's development team recently became a Microsoft Azure partner for its cloud-based Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term as a Service (BaaS) platform. It trades under trade symbol SYS on several Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term exchanges, including Bittrex and Poloniex.

Syscoin claims several advantages over OpenBazaar including using the latest Bitcoin Core blockchain technology, support for TOR encryption, affiliate and resellers features.