Most work we do for marketplaces should be network agnostic so should work for both platforms. This means that we do not abandon the project but we put work into spreading syscoin services to other platforms.
So will marketplace updates that are pushed to the Dapp appear in Shade as well? Or will Shade only come out as the initial release and then all updates from the current dev team will stop?
Its more like the ecommerce plugins (for platforms like magento, prestashop etc. to work with the blockchain marketplaces) and whitelist applications (blockmarket, etc) we build on top of SYS2 in time will also be fully compatible with SYS1, therefore leaving SYS1 far from abandoned as these plugins will allow for its functionality to be leveraged within major ecommerce platforms- giving merchants the choice between SYS1 (based on the bitcoin core) or SYS2 Marketplace Dapp (ETH based).
SYS1 will remain a coin derived from the bitcoin-core, which is merge-mineable etc. It will be in the Supernet MGW and compatible with Instadex and cross-chain transfers with other SNET core coins, we're working with the SNET team to make any changes needed to accomodate this (as they have a new release coming as well) within the SYS-Shade release.
SYS2 is an asset that pays dividends, and will serve a growing portfolio of DApps, which is a different construct from SYS entirely and it will be up to investors to convert SYS1 as they see appropriate where they see the most value, or diversify between the two which is always an option as well, or dump its up to them. Don't ask me for details about the conversion rates at this time, as I don't have them. All I can say is that we're trying to make the conversion favor SYS1 investors in the grand scheme of things.
Much like Sebastien1234, I have always seen the Syscoin team as an open source software development collective aiming at delivering decentralized solutions to centralized applications/problems. Our first project/target was decentralized marketplaces and that will be fully delivered with the SYS-Shade release all the way through price pegging, then expanded on through Supernet integrations, and soon will have apps-on-top ala ecommerce plugins to further extend the SYS1 value proposition. We have continued to work throughout the year even though the majority of the funds intended to fuel that development were stolen (Oct 14, 2014) what
wasn't stolen was used to pay back dev dues, reinvested into SYS via buy support (which we have not dumped and is the #1 wallet) or went towards legal efforts to bring those responsible for the theft to justice (still in progress); some members even had to liquidate portions of their personal holdings to fund the legal effort while others paid out of pocket (thus the total team holdings are less than you estimate). We've still continued to improve the original SYS marketplace we released a year ago despite these obstacles.
The landscape around crypto has changed in the past year as we've developed SYS and to continue to plow forward with the feature and fork approach to our mission we outlined 12 months ago (akin to sticking with physical buttons in a touchscreen era just because that's what was
the best solution around when we started) we're adapting with the times. The mechanisms for rapidly delivering multiple decentralized solutions lies primarily outside the SYS1 core in our opinion and although we'll still develop apps-on-top (plugins, etc) that will bring value to all applications delivered by the team (including building additional value in SYS1) our primary focus will be the new platform, and continuing to stay on the leading edge of what is happening in the crypto space.
As we make the transition to DApps we'll have a good several weeks of marketing and materials, a dedicated landing page with API documentation, setup and tutorials on how to fully use the Shade wallet to create unstoppable markets with full reseller support and more. We aren't simply releasing a new binary to github and then going dark on SYS1. The Shade release will be no small thing.
Also #general in slack is quiet- yes. All the chatter happens in the Millionaires club and its much more than good morning/afternoons. Instructions for joining:
http://syscoin.org/syscoin-millionaires-club/How does SYS1 and SYS2 tie into Supernet now? SYS is listed as a core coin there. I know that's maybe a minor thing now with direction change but some might have increased their holdings based on that. Will SYS2 be part of Supernet or hass that plan gone the Shade-SYS direction also? Supernet now holds 10% of the coins also as part of the deal, will they convert to SYS2 also? Perhaps not the right place to ask that but I won't do it on their thread.
I guess what I am asking is what is the state of affairs with your guys business plan and why should we invest in SYS2 and not just dump SYS1?
What SNET will do with their 5% stake of SYS1 has not yet been discussed. We'll continue to build value in SYS1 and it will continue to be a part of SNET as mentioned above. Converted SYS1 will be burned, if a majority of SYS1 holders convert that would mean those who don't will increase their equity substantially in the process.
Our goals using DApps within the ETH platform were
only confirmed a day ago as we finalized the spec last Wednesday and we were able to get feedback from VButerin over this weekend- we are moving as fast as possible (and as you know, we all hold fulltime jobs). We'll have more concrete timelines together for SYS2, at the moment we're focusing on completing the SYS-Shade release (part of supernet) so that we can then focus on SYS2 in proper priority order. In terms of SYS2 and Supernet not sure what the technical possibilities are there yet, more info needed, so TBD. Providing answers soon as I have them.
