Syscoin Spark Wallet is much more than just a wallet to send and receive Syscoin and SPTs (Syscoin Platform Tokens).
Spark was built to showcase everything that we are working towards for the Syscoin Platform. With Syscoin Spark 4.0.3, anyone in the world will be able to use our Z-DAG (“Zero confirmation Directed Acyclic Graph”) blockchain scalability technology for Syscoin Platform Token (“SPT”) transfers.
Transactions at the Speed of Business
Proof Of Z-DAG:
Demo Z-DAG in action with Syscoin Spark Wallet 4.0.3
*Syscoin Spark Wallet has a refresh time of 3 seconds, our demonstration video shows that Spark confirmed the transaction in less than 13 seconds, however due to the refresh time delays, transactions are actually achieved in less than 10 seconds on the network.
Proof of Z-DAG in action with Syscoin Spark
*Syscoin Spark Wallet has a refresh time of 3 seconds, the demonstration video shows that Spark confirmed the transaction in less than 13 seconds, however transactions are actually achieved in less than 10 seconds on the network.
Z-DAG and PoW: Two Layers For Speed and Scalability
The Double Spending Problem
Double spending, is the blockchain equivalent of counterfeiting money; put simply, double spending means that a nefarious party could potentially use the same funds more than once if there were no measures to prevent it from happening.
Bitcoin’s Solution: PoW
Bitcoin uses PoW (Proof Of Work) to prevent double spending from happening and is currently the technology of choice for secure blockchain projects.
The major impediments with PoW is that the technology is slow and currently prevents transactions from becoming scalable; due to this, Bitcoin can only process 6 transactions per second which is far from being ready to be used as a global currency.
Syscoin’s Solution: Double Protection against Double Spending
To verify transactions, Syscoin uses a two-layer approach, combining Z-DAG and proven PoW technology.
Layered on top of the Syscoin blockchain, our patent pending solution to the blockchain scalability problem, Z-DAG is the first layer to process a Syscoin transaction.
It takes less than 10 seconds to confirm a Z-DAG transaction.
The second layer, PoW, reconfirms the transaction and writes it on the blockchain, completely preventing digital counterfeiting from taking place.
Z-DAG provides unprecedented blockchain transaction speeds. Third-party firm Whiteblock, the world’s first blockchain testing company recently conducted an analysis of the technology achieving up to 145,542 TPS in a control group and up to 60,158 TPS(transactions per second) outside of a control group.
There’s really no doubt, with Z-DAG, Syscoin is currently the fastest processing blockchain protocol in existence.
Don’t believe us. Try it out, July 3rd
On May 22nd, we showed you the third-party TPS results conducted by Whiteblock for our patent pending technology Z-DAG, on July 3rd, with the release of Syscoin Spark 4.0.3, anyone in the world with a PC or Mac will be able to try it out for themselves.