Syscoin: A Peer-to-Peer Electronic Cash System with Blockchain-Based Services for E-Business

Abstract

While Bitcoin (Peer-to-Peer Electronic Cash) [Nak]solved the double spend problem and provided work withtimestamps on a public ledger, it has not to date extendedthe functionality of a blockchain beyond a transparent andpublic payment system. Satoshi Nakamoto's original referenceclient had a decentralized marketplace service which was latertaken out due to a lack of resources [Deva]. We continued withNakamoto's vision by creating a set of commercial-grade ser-vices supporting a wide variety of business use cases, includinga fully developed blockchain-based decentralized marketplace,secure data storage and transfer, and unique user aliases thatlink the owner to all services controlled by that alias.