Syscoin’s Smart Contract Chain Is Live! The Best of Bitcoin & Ethereum is Now Together in One Place -Breaking
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Syscoin’s Smart Contract Chain Is Live! The Best of Bitcoin & Ethereum is Now Together in One PlaceThe NEVM Launch Phase 1 is now complete. On December 6, 2018, Block 1,317.500 of the NEVM mainnet, our Layer 1 for EVM smart contract security was activated. With this upgrade to the Syscoin network, you can simultaneously enjoy all the benefits of Bitcoin’s POW security and the flexibility of smart contracts on a modular chain built to remain indefinitely decentralized, scalable, and affordable. Phase One has effectively laid the world’s most secure foundation for supporting all the best EVM Layer 2 advancements.
Our innovative approach to infrastructure has been able to address the most serious criticisms. Thanks to merge-mining, our POW security is effectively a green energy solution, which recycles resources already being spent on Bitcoin’s gold standard security. Thanks to our Solidity and full EVM-compatibility, we have set the stage for all EVM-based projects, including Ethereum itself, to be able to take advantage of Syscoin NEVM’s scalability and low fees. We have thus effectively surpassed the promise of Ethereum 2.0, and have solved the problem facing blockchains.
This is why it’s so important. The Syscoin Platform allows projects that run on Ethereum to migrate and save close to 100% on transaction fees. These savings can then be passed to their users.
”Syscoin will utilize the best features of the top two cryptocurrencies, namely Bitcoin and Ethereum. Syscoin will offer the safety and flexibility of Bitcoin, but maintain the programming capabilities of Ethereum. Scalable applications will be mounted on this system via ZKPs which will introduce our proposed decentralized cost model on Ethereum gas fees.”
-Jagdeep Sidhu, Syscoin’s Lead Core Developer
As mentioned, the Syscoin NEVM going operational is only Phase One of our grand strategy to offer the world’s first mature blockchain capable of running the metaverse, smart cities, and hosting both the needs of public and private institutions. The ZK-Rollups provide a tremendous boost in speed to speeds up to 210kTPS in Q1 2022. Phase Three is in Q3 with the implementation of our proprietary Validium technology. This will ensure the Syscoin Platform’s long term viability.
Syscoin is constantly evolving to meet the challenges of blockchain technology. The culmination all these years and an innovative solution that we are proud to have made a reality is our NEVM. Many partners have started to onboard and are looking forward to leveraging ZK Rollups on Syscoin NEVM.
Thus far, these NEVM partners include Luxy: a powerful and user-friendly NFT marketplace, Gold Standard DAO: a decentralized reserve currency backed by gold, Pegasys: the first DEX & AMM built on Syscoin’s NEVM, Mute: a DeFi suite dedicated to ZK-Rollup scalability, Equalizer: the world’s first dedicated DeFi flash loans platform, Orai: the world’s first AI Oracle (NYSE:) blockchain, and many more will join the Syscoin ecosystem. Start by visiting Syscoin.org to learn more about how you can do the same.
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