What is the benefits of SYScoin over BitBay?
Can someone explain this for me ?
EDIT: you do have a big competitor out there: Bitbay.
Read the infographic comparison.
/Regards Anoxy
So your mac is still in beta after all this time? Might wanna update your graphic charlie.
Syscoin is the only existing decentralized marketplace in existance period. You do not understand code. Take that cherry picked infographic elsewhere. Every other marketplace assumes escrow we do not. It is day and night difference actually. Read the code to find out yourself.
For shits and giggles lets take a look at your infographic though.. to be objective in thought for our readers ok?
Lets look at ones given an X to sys.
Firstly sys has moderation, it has multiple levels of it including safe search private offers and enforced private offers in worsed case. Bay just has banning afaik through moderator key (not as nice and does not fall within decenteralized model).
Next reputation is already built into sys.
Next private markets are also covered by selecting your offer to be private. Also finding these offers will be much easier with syscoin indexers since they are deterministically derived from blockchain historical data which is gauranteed. Bays contract state cannot.be deterministically derived because its p2p so by definition there needs to be some trust to ensure that indexers get the data it needs for searching functionality. Thats a fact and a big difference between sys blockchain design vs bay or open bazaar p2p design concept. Sys blockchain wins big there.
Transaction history on.blockchain yup big check for sys and X for bay instead. Most ppl agree blockchain is better. If you want to prove in court you made a tx its easy on blockchain. The contracts are all offline on bay and i dont even think they hash and root onto a.blockchain so its hard to prove in court you did something beyond a reasonable doubt. Even if you hash and root your indexers become non deterministic and trustful to central agencies which will be responsible for data of those contracts. Easy to shutdown in that case. To deal with bloat sys has special pruning which removes expired data.
Multisig? Sys aliases which own offers can be p2sh.. so it can handle multisig as well if not better than bay. This creates join account functionality aswell. 2 more checks for sys there. Sys leverages bitcoin technology for that sys is on latest bitcoin core because it was designed to be backwards compatible. What is bay based on since its pos it must be an old version of bitcoin full of old bugs and missing core performance improvements made in later btc releases which sys employs. Again sys was developed with bitcoin core upgrade compatibility in mind. Even so much that i created a process to do the work so its easier to upgrade by adding // SYSCOIN comments everywhere i added sys code to so ican easily rebase.
Oh btw sys core is open source.. bay is closed. Big check for sys there.
Steg, p2email, builtin irc chat.. sorry those features to me are features for the sake of features no real world benefit.to our design. Other ways to solve that problem without involving the core.
Smart contracts? Sys has services which are contracts well tested and unit test coverage specific to their usecases. Bay requires authorization so not much difference there.. create a pull request and your done.
Pegging is the only unique thing bay is working on sys doesnt have. Sys has many other things bay doesnt have. To keep it in context of this post. Sys is the only marketplace which does.not require escrow. This is important as some merchants (especialy once they have reputation built) will not want to use escrow. Others cant afford the upfront costs of escrow. But arbited escrow is easiest for network affect because its the lowest barrier of entry. Double deposit escrow like bay has offers a high barrier of entry and thus will not achieve network affect. Noone will use the system. Also if one side genuinely forgets or goes missing both sides lose funds which adds much risk averse behavior to the system and pushes would be buyers away. Vitalik Buterin and I had a convo on this and agreed in current state of crypto, arbited escrow is only way to go. Sys has a real decenteralized marketplace which is more than a simple barter template. Sorry but a template wont do here for a comparison. We have reselling, whitelisting, integrated escrow and many other things that make it a marketplace and not just a template which can be used to MAKE a marketplace. We have uniquely crafted the syscoin offers smart contract service.based on our vision of how a fully functional decenteralized marketplace should work from the ground up and done on the.blockchain. Bay has not done that. Its using a barter template or a.buy sell anything template to try to fit the bill. The templates will require much customization to.get to the level of sys marketplace design which becomes less of a template then and more of a customized solution imo.
Sorry for long post but if anybody else shoves that dumb diagram down your throat just kindly link them to this post. I seen it enough and decided to spend the time to fix its obvious mistakes (over 50% is wrong atm)
