Topic: ⚒ Syscoin -Blockchain Scalability, Trustless Interoperability for ERC20 projects - page 99. (Read 501963 times)

1. If Syscoin blockmarket will grow to thousands transaction per second, how it will affect transaction fees and velocity?

A: I'll let Jag Sidhu answer this more technically, however http://whitepaper.syscoin.org/ will probably give you most of your answers about technical design: http://whitepaper.syscoin.org/

2. When you plan to finish blockmarket and start bringing it to the mases?

A: Blockmarket does not have a set date yet, we are currently in the Beta 5 phase and have submitted it to a security audit firm, while they are auditing, we are working on non-security-related updates that make the UI experience more polished. Once all is confirmed and rectified (if issues are discovered during the audit, they will need to be fixed), we will release Blockmarket for Desktop. Blockmarket for web is what we consider to be the software that will bring Syscoin to the masses, as it will allow anyone to use Syscoin via a web-browser, no need to install software; we will begin working on that as soon as Blockmarket for Desktop is completed.

3. I have studied your website (www.syscoin.org) and found that your team consist of 6 people and only two of them are developers. Also found that you are working on different projects. So from my point of view basically two people are working on several different projects.  Do you think that's enough resources to build a solid project ? Why you are not expanding your team?

A: Our website is currently being re-vamped, our team did indeed consist of two developers a few months ago (plus the rest of the team), but currently we have 5, Dan Wasyluk, Jag Sidhu, Willy Ko, Sebastian Schepis & Ian Wijesinghe. https://medium.com/@BlockchainFoundry/blockchain-foundry-update-full-time-team-members-office-space-and-new-developers-joining-the-team-e11c251136bd


4. Do you have any competitors except OpenBazaar?

A: We do not consider OpenBazaar to be our competitor, Blockmarket has many features that OpenBazaar does not. Merchants would need to use many different applications (some centralized) to achieve Syscoin's current experience and yet we have so much more in-store; the costs of selling on OpenBazaar is also exponentially more expensive (IE: With OpenBazaar, either you need to pay for monthly fees to a hosting company to host your store or you need to keep a node online 24/7; whereas with Syscoin, it only take a few cents to create your store and have an offer up that lasts an entire year before it expires). So to answer your question, we do not have competitors, there are a few projects that claim to do a small percentage of what Syscoin can do, however, there is nothing that currently exists that can compare to the full-feature-set of Syscoin.

5. Have you thought about search algorithm how listings will be displayed?

A: I'm not exactly sure what you mean? Blockmarket brings all of Syscoin's existing features in an easy-to-use and polished piece of Software, listings are already searchable from the QT wallet or via console.

6. Lowest piece of Syscoin is 0.000001?

A: The smallest possible fraction of Syscoin is the same as Bitcoin = 0.00000001

7. Is it true that you are going to develop a feature to make possible uploading listings from eBay via csv / excel file?

A: Certainly, we will be working on a Syscoin E-commerce integration products after Blockmarket for Web has been released; Syscoin will be integrated with mainstream e-commerce platforms such as Magento, Shopify, OpenCart, and Prestashop. To answer your questions, this allows for bidirectional syncing of inventory between Syscoin's decentralized platform and various centralized offerings.

8. Is it really so difficult to answer here? Or do we all have to join the slack channel?

A: Slack is certainly the best place for you to ask questions, our community is also very helpful; we are all very busy in our team and our community often helps out so that we can put most of our efforts on development and planning.

Yes, do not neglect the BTT thread.
This is a good place.
The questions look interesting 

Is it really so difficult to answer here? Or do we all have to join the slack channel?

Hello.

Few weeks ago I heard about your project and it looks quite promising. I am eBay seller myself and your project to me looks interesting, eBay,PayPal and currency conversion fees are really high I pay about 12% on average. After reading Syscoin whitepaper I still have some questions.

1. If Syscoin blockmarket will grow to thousands transaction per second, how it will affect transaction fees and velocity?

2. When you plan to finish blockmarket and start bringing it to the mases?

3. I have studied your website (www.syscoin.org) and found that your team consist of 6 people and only two of them are developers. Also found that you are working on different projects. So from my point of view basically two people are working on several different projects.  Do you think that's enough resources to build a solid project ? Why you are not expanding your team?

4.Do you have any competitors except OpenBazaar?

5. Have you thought about search algorithm how listings will be displayed?

6. Lowest piece of Syscoin is 0.000001?

7. Is it true that you are going to develop a feature to make possible uploading listings from eBay via csv / excel file?

Conf file is external to the app not in the source

It not OpenSource?

For.what? Its.built into.the conf for bm

Its not downtrend. Just correction.
It's so nice to buy with 80-90% discount.
There is no doubt about the future moon  

Where i can find testnet nodes?
IP list?

i think SYS will have a downtrend before real CRAZY moon
so just set your buys low and wait

I like Import filters and plugins features! It's very usefull.

Updated beta binaries are available via the link  below:

https://github.com/syscoin/blockmarket-desktop-public/releases/tag/1.0.0-beta5

Join us on our Slack Channel or our Telegram Channel for more information. Get an automatic invitation to our Slack Channel here: http://join.syscoin.org/

Those who buy it cheap now will have a chance to add-up at a half of the current price.

Just because the market is falling. Welcome to the bear market where no one takes care of good news, everyone looks for opportunity to sell and take the money away.

Holy crap ^^^

Good thing I just now bought cheap!!! 

A nice Q&A by vaughnpierre from steemit

https://steemit.com/syscoin/@vaughnpierre/how-syscoin-adopt-from-a-70-000-a-5-billion-market-place-by-end-of-2017

Syscoin: From 70,000 to 5 Billion potential users by end of 2017
7 hours ago
vaughnpierre29 in syscoin

This article is a conversation string I had with one of syscoins developers (keyare) on their Slack channel today.

For months, I had not been clear on the “true value” of what syscoin has to offer to the average consumer or how the average consumer would adopt to the technology. If there is no adoption, there is no use of the coin (or crypto), so I could not see too much growth or user adoption. Finally I was able to reach one of the developers on the syscoin Facebook group and he redirected me to speak with him on their Slack channel where one of the developers keyare was able to give me alot more specifics on how syscoin plans to create mass user adoption.

Disclaimer:

I do own some syscoin
I am not part of the development team
---> BEGINNING OF THE CONVERSATION STRING ON SYSCOIN SLACK CHANNEL BETWEEN KEYARE AND MYSELF <---

vaughnpierre:
How are syscoin tokens being used now?

keyare:
Hello Vaughn, Syscoin can be used to send and receive funds like Bitcoin, you can create your own identity with an Alias, you can make offers, buy and sell anything directly on the blockchain, you can send/receive and even sell data certificates and you can send and receive fully encrypted messages; there are also many things that the combination of all these unique features can do which are being explored or are untapped as of yet. Join our community by entering your email address at http://join.syscoin.org

vaughnpierre:
Thank you for the reply. Can you give me examples (types of companies and vendors) who are using syscoin on a daily/weekly basis, so i can understand better market adoption?

keyare:
Even if we had launched Blockmarket (which we haven't yet) we would not be able to give those numbers. The entire concept behind a decentralized marketplace is that you are buying and selling 1:1 with no one tracking your data, no middlemen taking a portion of the sale, no one telling you what you can and can't do. We believe you should be able to completely control your own data and your own money. This is what makes the blockchain unique to e-commerce and blockmarket possible. You can try the beta here: https://medium.com/@BlockchainFoundry/announcing-blockmarket-desktop-beta-4-4f8132a0f798

vaughnpierre:
I understand the 1:1 no middle-man theory but eBay and Amazon were able to centralize marketplaces for people, although the model is abused because of the middle man. What is syscoins direction for creating user adoption (similar to eBay/Amazon)? What is the value proposition, where the average consumer will understand the value right away and jump on board?

keyare:
Once Blockmarket Web is live, the user experience will be more similar to a regular e-commerce experience, like etsy or eBay, but of course they have had 20 years to create the behemoth marketshare and the user-experience they currently have. We are just at the very beginning of this new technology

A marketplace on the blockchain has advantages to centralized e-commerce offerings in a number of ways:

• No middlemen - no one takes a share of your sale. Eliminating credit card fees, paypal fees etc. When 3% of your gross sales go to a middleman, this can be an incentive to switch to a decentralized model.

• No central point of failure. Because nodes are redundant and scattered all over the world, there is no datacenter to fail with a ddos attack or other event.

• No hosting fees. Again, because this is on the blockchain, there are no hosting fees to host your store. This can incentivize merchants to switch to a decentralized model if hosting or hosting fees are an issue. This is a very big issue in some areas in the world.

• No political interference. If you live in a country where certain books are illegal, you cannot buy or sell those books on eBay or Amazon or whatever platform is used in that country. A decentralized model does not allow censoring. Nobody can remove or censor your buying and selling on the blockchain. This can create issues with legal and moral implications. We can choose to hide sensitive items, or display them, but we cannot remove them. Anyone can create their own interface, and just like the internet, there will be pockets of insanity.

By making the UI simpler, intuitive and free to use, we think these things will drive adoption. At the moment we cannot market to merchants as the barriers to entry and technological skills required to use the marketplace prohibit mass-adoption.

Blockmarket WEB will be a simple website. You will be able to list your items for sale for free, and buy items with no middlemen and near zero fees.

Once the web interface is available, our target market increases beyond the current 70,000 people capable of installing a crypto-wallet, to 5 BiLLION people capable of using a website.

• No one can take off with your money either. If Paypal decides you shouldn't have sold something, they can take your money back or shut down your account. Look at Alphabay - someone walks off with a couple million in user assets. That's not even possible with the Blockmarket.

vaughnpierre:
Thank you for the points keyare: I understand the technological limitations now, but assuming they are in place for the masses to adopt to a simple website for eBay/Amazon style listing, does syscoin have a Marketing/Advertising Plan to create consumer awareness?

keyare:
We will not begin marketing to any large userbase until we are satisfied that it is grandma-friendly.

We have three marketing paths once BM WEB is available.
• Traditional advertising: socmed/google ads/articles, banner ads etc.
• Value-added campaign where we offer something COMPLETELY new (sorry i cannot give you the details.)
• Forced-viral: where creating a listing automatically tweets and other tactics I cannot discuss ATM

And i'm sorry i cannot discuss some of the marketing tactics because they would give away some functionality we are developing.

• Oh i forgot import filters and plugins. We have to complete BM WEB before these begin development. Import filters will allow you to import all of your listings from sites like Ebay to the blockmarket, and plugins will enable platforms like shopify and prestashop to use syscoin.

BLOCKMARKET is only the tip of the iceberg though. In creating the backend for Blockmarket, we have developed a set of hardened smart contracts that can be used in hundreds of different blockchain use-cases. With the Syscoin API we can make a blockchain application that serves legal documents, medical data, payroll, and many more concepts. We started Blockchain Foundry to begin development on some of these use-cases for outside companies. We are a blockchain development company. And most of these contracts will also add value to the Syscoin token by using the Syscoin Blockchain.

We're not a simple project. We're not going to be an overnight success. We are dedicated to long term development and growth. For many years. We believe in keeping our users investments safe through security audits and avoiding pump tactics. We're one of those projects you can put some money on and forget, because you know we are working tirelessly to build a company that will come out of this tech bubble on the other end as one of the few that survive.

---> END OF THE CONVERSATION STRING ON SYSCOIN SLACK CHANNEL BETWEEN KEYARE AND MYSELF <---

Here’s my summary points of what I currently think of syscoin and where I see it could go:

So it looks like syscoin does have a good direction to build serious infrastructure for mass adoption.

They are too early in the game to release blockmarket (eBay/Amazon style technology) for the average user since they want to make it "grandma-friendly" and avoid bad experiences, similar to what happened with openbazzar (where many users did not return after bad experience).

They seem to have a good marketing/advertising direction creating user awareness for the average consumer to use the decentralized blockmarket (although I would like more details).

Considering the detailed answered to my questions, I do see syscoin having an understanding how why consumers would switch from a modern centralized model (eBay/Amazon) and switch to the decentralized no-fee model syscoin has to offer on the blockmarket.

Syscoin currently is unique as a product. I do not see much competition in the Blockmarket (eBay/Amazon) style products they are offering. Other cryptos, such as privacy coins (Monero, Pivx, Zcash) have many competitors as well as transactional coins such as Bitcoin, Dash, and Ethereum.

Given the current stage of the roadmap, and where syscoin stands in the pre-lease of their blockmarket product to a much larger audience, I see the use of the “syscoin coin” adopting and gaining a much larger market share by end of 2017 and having much more usage by 2018.

Given the above points, I do see syscoin as a “True Value” cryptocurrency which will emerge as one of the top 5 performing cryptos by end of 2017 and 2018.

Escrow builtin

Blockmarket Desktop Beta 5 Released!



We are pleased to announce the release of Blockmarket Desktop Beta 5! This release is the result of a huge amount of work from the team over the last three weeks and our development efforts were helped immensely by the testing and feedback provided by the community. As discussed in previous posts we have set a release-quality bar for Blockmarket Desktop and Beta 5 is a continuation of those efforts as we get closer to mainnet release.

Since the release of Beta 4 just over three weeks ago we have added the following major features:

Escrow

Encrypted wallet support

Category view and category chooser when creating/updating offers

Many bug fixes and visual updates

Initial startup performance and UX improvements

With these additions, Beta 5 is feature-complete for the purposes of the security audit mentioned in our previous posts. While the audit is ongoing we will continue to add usability tweaks, user experience polishing, style updates and other non-security related enhancements and additional features before the mainnet release to ensure that we are putting our best foot forward with the final release, Blockmarket Desktop 1.0.

As discussed in detail in our last post, we have engaged Digital Boundary Group, experts in IT software security and penetration testing, to perform a security audit on Blockmarket Desktop. DBG has started their audit and we will await the results of their testing before releasing BM final 1.0.
As always, thank you to the whole community for identifying and logging issues through the beta status page as they arise in testing. Please continue to log any issues via GitHub issues and the #beta-testing room in our Slack.

 https://medium.com/@BlockchainFoundry/blockmarket-desktop-beta-5-released-25c85ad22d30

 https://twitter.com/syscoin/status/883117097542459392

Blockmarket Desktop Beta 5 Released! More functions added and Security Audit begins!

no middle man and no escrow but how the market could protect buyers and sellers?

Quotation from the team ( slack):

What is Syscoin's direction for creating user adoption (similar to eBay/Amazon)? What is the value proposition, where the average consumer will understand the value right away and jump on board?


Once Blockmarket Web is live, the user experience will be similar to a regular ecommerce experience, like Etsy or eBay. But of course they have had 20 years to create the behemoth marketshare and the user-experience they currently have; we are at the very very beginning of this new technology.

A marketplace on the blockchain has advantages to centralised e-commerce offerings in a number of ways:

• No middlemen - no one takes a share of your sale. This eliminates credit card fees, paypal fees etc. Typically 3% of online gross sales go to a middleman, this is an incentive to switch to a decentralized model like Blockmarket.
• No central point of failure. Because nodes are redundant and scattered all over the world, there is no datacentre to fail with a ddos attack or other event.
• No hosting fees.  Again, because this is on the blockchain, there are no hosting fees to host your store. This can incentivise merchants to switch to a decentralized model if hosting or hosting fees are an issue. This is a very big issue in some areas in the world.
• No political interference.  If you live in a country where certain books are illegal, you cannot buy or sell those books on Ebay or Amazon (or whatever platform is used in that country). A decentralized model does not allow censorship. Nobody can remove or censor your buying and selling on the blockchain. This can create issues with legal and moral implications. We can choose to hide sensitive items, or display them, but we cannot remove them. Anyone can create their own interface, and just like the internet, there will be some misuse.
• No one can take off with your money. If paypal decides you shouldn't have sold something, they can take your money back or shut down your account. Look at Alphabay - someone walks off with a couple million in user assets. That's not possible with Blockmarket.
• Import filters and plugins. We will complete BM Web before these begin development. Import filters will allow you to import all of your listings from sites like eBay\Etsy to the blockmarket, and plugins will enable platforms like Shopify and Prestashop to use Syscoin.

Blockmarket WEB will be a simple website. You will be able to list your items for sale for free, and buy items with no middlemen and near zero fees. Once the web interface is available, our target market increases beyond the current 70,000 people capable of installing a crypto-wallet, to 5 BiLLION people capable of using a website.

We will drive adoption by making the UI simpler, intuitive and free to use. Currently we cannot advertise Blocmkarket to merchants as the barriers to entry and technological skills required to use the marketplace prohibit long-lasting adoption. We will not begin marketing to any large userbase until we are satisfied that it is grandma-friendly.


We have three marketing paths once BM WEB is available.
• Traditional advertising: socmed/google ads/articles, banner ads etc.
• Value-added campaign where we offer something COMPLETELY new
• Forced-viral: where creating a listing automatically tweets

We are also starting a Merchant pilot program. This is where we find merchants who sell a lot of items and offer to put them on the blockchain and guide them through the whole process.


Blockmarket is just the tip of the iceberg. In creating the backend for Blockmarket we have developed a set of hardened smart contracts that can be used in hundreds of different blockchain use-cases. With the Syscoin API we can make a blockchain application that serves legal documents, medical data, payroll, and many more concepts. We started Blockchain Foundry to begin development on some of these use-cases for outside companies. We are a blockchain development company. And most of these contracts will also add value to the Syscoin token by using the Syscoin Blockchain.

We're not a simple project. We're not going to be an overnight success. We are dedicated to long term development and growth. For many years. We believe in keeping our users investments safe through security audits and avoiding pump tactics. We're one of those projects you can put some money on and forget, because you know we are working tirelessly to build a company that will come out of this tech bubble on the other end as one of the few that survive.