An independent price peg for any application requiring conversion between rates and currencies.
The Syscoin Price Peg Server is designed to allow non-coders to quickly create and configure their own price peg server. We created a developer-supported price pegging system for the Syscoin network which maintains exchange rates between the Syscoin token and other digital and fiat currencies.
The Syscoin Price Peg Server is a server application that maintains a Syscoin “Alias Peg” on the Syscoin network. An Alias peg provides information to the network on exchange rates between Syscoin and the user-defined fiat and cryptocurrencies supported by the price peg.
Users can configure a price peg server around their Syscoin Alias and tailor it to their individual preferences. Configurations can include a selection of supported currencies, data sources for exchange rates, and frequency of updates.
Syscoin Price Peg Server can be used in conjunction with the Syscoin e-commerce platform or as an independent price peg for any application that requires conversion rates between rates and currencies.
The price peg server uses data from multiple sources to derive exchange rates between Syscoin and various fiat and digital currencies. Fixer.io is used for all fiat currency conversion information, Coinbase is used for all BTC/USD conversion information, and a mix of various exchanges that trade Syscoin such as Bittrex, are used for all other cryptocurrency data. The server watches each configured currency pair independently and when any one currency exchange rate moves outside the configured threshold, updated exchange rates are written to the peg-alias on the Syscoin blockchain.
It’s a big world out there. Our price peg server is designed with that in mind. We support many fiat and cryptocurrencies.
Note: The Syscoin Price Peg Server is no longer compatible with Syscoin 4.x