The SysCoin developers have released a mandatory client update yesterday, so we should take a look at what has changed. A small update in regards to merged mining has been provided as well, so we’ll talk about that too.
The mandatory SysCoin client updates the version number to 0.1.4, and can be downloaded for all platforms by clicking here. There are two major enhancements in this update : merged mining with any Scrypt altcoin, and regenerated service fees for miners.
I’m pretty sure most of you will know what merged mining is already, so a long explanation shouldn’t be necessary. If you are a cryptocurrency novice however, merged mining means you are mining multiple altcoins at the same time through the same process. (For example, SysCoin and DogeCoin)
The regenerated service fee for miners, on the other hand, does need some clarification I’d say. All “services” offered by SysCoin require a service fee in order to be used. However, these service fees were being “burned” , which results in actively reducing the number of coins in circulation.
Starting at block 17,000 ; which is also the block height when merged mining kicks in, these service fees will be regenerated back to the miners. As a result, miners will see larger block rewards without increasing the total amount of coins. A very interesting turn of events i’d say!
Official announcement :