• Syscoin has announced the launch of its smart contract chain.
  • This occurred after it reached its 1,317,500 block, which marked the completion of Phase 1.
  • This has the potential to increase the value of the SYS token.

Syscoin (SYS / USD) is a decentralized public blockchain and development platform that offers high performance through cross-chain interoperability for tokenized assets.

Support for smart contracts as a catalyst for growth

On December 6, Syscoin completed block 1,317,500 and all miners closed and upgraded to 4.3 .

This took a couple of hours to complete and the network now has support for smart contracts.

Also, projects running on Ethereum can migrate to the Syscoin platform.

Syscoin now expects Phase 2 to bring much more to the platform, and there are plans to even roll out zk-Rollups across the network, which could increase the speed up to 210k TPS in Q1 2022.

Then there are the Phase 3 plans, which are meant to implement Validium technology to achieve 4 million TPS and ensure that the Syscoin platform has long-term viability.

All of this has the potential to increase the value of the SYS token.

Should you buy Syscoin (SYS)?

On December 7, Syscoin (SYS) was worth $ 0.637.

SYS-USD chart

To get a better perspective on what kind of value point this is for the token, we’ll compare it to its all-time highest value, as well as its performance last month.

In terms of its all-time highest value, it was May 5 when the SYS token reached a value of $ 1.14. This gives us an indication that at its ATH value point, SYS was $ 0.503 cents higher in value or by 78%.

When we looked at the performance of the token in November, on November 1, SYS was worth $ 0.312 cents. This was his lowest point of the month.

By November 30, it increased in value to $ 0.791 cents, which was its highest point of the month. Here, we can see that the token grew in value by $ 0.479 cents or 153%.

However, from November 30 to December 7, the value of the token has decreased by $ 0.154 cents or 19%.

Additionally, SYS experienced a 46% increase in trading volume in the last 24 hours, as well as a 25% increased market capitalization.

This makes for an excellent opportunity to buy the token, as it has the potential to hit $ 0.7 cents by the end of December, making it a solid buy.

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