Veteran Blockchain Network Syscoin Launches First Rollup Solution

by
Press Releases
Veteran Blockchain Network Syscoin Launches First Rollup Solution

Singapore – 29/09/22 – Syscoin, the veteran blockchain network which provides developers with secure and scalable infrastructure solutions, has released its first rollup solution, Rollux OPv1, on the public testnet. 

Rollux is Syscoin’s in-house rollup suite, and it’s the only rollup in the world backed by Bitcoin’s gold standard PoW security. To meet the growing needs of Web3 infrastructure and mass adoption, scalability goes beyond speed, TPS, and low fees, and places greater importance on security and decentralization. Syscoin’s Rollux offers the highest security and throughput at the lowest cost, making it the premier Layer 2 solution for Web3.

Syscoin announced the launch at the Token2049 conference taking place in Singapore this week. Commenting on the announcement, Syscoin Foundation President & Lead Developer Jagdeep Sidhu stated:

“We couldn’t be more thrilled to bring our Rollux L2 solution to public testnet; this event represents a huge milestone for Syscoin, and the culmination of many months and even years of hard work and dedicated. We’ve learnt from the mistakes of other, monolithic and inefficient blockchain networks, and we’ve spent the past 8 years since the initial launch of Syscoin developing our systems architecture and product offerings, to ensure we’re providing developers with the best possible value proposition. Through this, we’re empowering them to bring new and exciting use cases to make, and ultimately change the world.”

Rollux OPv1 is an optimistic rollup, designed to enable end-users with near-instant low-cost transfers, executions, and contract deployments. With the testnet now live and underway, Rollux OPv1 joins a number of innovations designed to kickstart Syscoin’s expanding ecosystem and partners, including: Pegasys, SYSPad, BuilditMerchants, MudAI, DystoWorld, Luxy, ZKCross, QiDAO, KOLnet, SYSstables, Denet and ApeSwap all with infrastructure support from Ankr, Getblock and Band Protocol.

The Rollux suite also includes optimistic and ZK Rollups, in addition to a first-ever cross-chain ZK bridge, created in pioneering collaboration with ZKCross. This is complemented by Syscoin’s Layer 1 data availability innovation, PoDA (Proof-of-Data Availability). PoDA was designed to address bottleneck issues for censorship-resistant data security for rollups and solve data availability for Layer 1. Being positioned on Layer 1, PoDA has a compounding effect on speed for every additional layer. Although working independently, Ethereum reached a similar conclusion and started creating proto-danksharding, however, PoDA is already live on the public testnet, whereas Ethereum’s innovation is about a year away.

To find out more about Syscoin, and their upcoming development plans, please visit https://syscoin.org/about 

To sign up for the Syscoin Public Testnet, please visit https://syscoin.org/rollux 

-ENDS-

For media inquiries, please contact [email protected] 

About Syscoin

Syscoin is a decentralized and open-source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum in a single coordinated modular platform.

Syscoin is ushering in the next step in the evolution of blockchain technology, providing Bitcoin’s proven security and Ethereum’s Turing-complete programmability elevated to true scalability via Optimistic, ZK-Rollups, Cross-chain ZK-Rollups and other Layer 2 technologies.

Website | Discord | Telegram | News | GitHub | YouTube | Facebook | Twitter | Instagram     

Read more about

Guest Post

Guest authors contributing to crypto.news include industry thought-leaders with years of leadership experience in the cryptocurrency and blockchain space. These can include company CEOs, managers, partners, and academicians, among others.

Before accepting any guest post, the crypto.news editorial team ensures the content is not misleading, biased, or advertises false promises. All guest posts are filtered through highly scrutinizing editorial standards before being published on the website. All sponsored guest contributions are clearly highlighted with a sponsored tag to ensure our readers are always aware of the truth.

Follow Us on Google News