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Syscoin (SYS) is a cutting-edge decentralized blockchain platform with a dual-layer architecture, combining the robust security of Bitcoin's Proof of Work (PoW) with the flexibility and scalability of Ethereum's smart contract capabilities.
Launched in 2014, Syscoin has evolved to encompass an extensive ecosystem designed to support the future of Web 3 applications, including DeFi, the Metaverse, IoT, Smart Cities, and more, while ensuring security, decentralization, and high throughput.
Syscoin integrates the best aspects of the Bitcoin blockchain and the Ethereum blockchain. It is merge-mined with Bitcoin, using the network’s powerful Proof of Work (PoW) consensus mechanism and SHA-256 cryptographic hash algorithm to secure against the risk of 51% attacks. In addition, Syscoin boasts compatibility with Ethereum smart contracts, while achieving 96% lower transaction fees.
Scalability is a cornerstone of Syscoin, and its novel solutions, including Z-DAG (Zero Confirmation Directed Acyclic Graph) for near-instant transactions and high throughput, have paved the way for handling massive transaction volumes. Syscoin has also launched Rollux, a Layer-2 scaling solution that employs optimistic rollups and integrates with Syscoin's Layer-1 Proof of Data Availability (PoDA) to scale EVM smart contracts efficiently.
Syscoin’s dedication to blockchain interoperability is evident through the Syscoin Bridge. This cross-chain bridge enables seamless transactions between its NEVM chain and UTXO chain, thus combining the benefits of scalable microtransactions, Bitcoin-core-compliant security, and compatibility with decentralized finance (DeFi) applications.
Founded by Sebastian Schepis, Jag Sidhu, and Dan Wasyluk, Syscoin began as a visionary blockchain platform designed to revolutionize various industries. Since its inception, Syscoin has assembled a talented team of developers and contributors, continuously innovating and improving its platform through numerous upgrades.
In 2023, Syscoin introduced a game-changing upgrade: Rollux. As a complete EVM Layer-2 rollup solution, Rollux employs optimistic rollups at launch, with plans to incorporate ZK-rollups as the technology matures. Syscoin's NEVM also became the first protocol to support Proof-of-Data-Availability (PoDA), a groundbreaking solution pioneered by core developer Jagdeep Sidhu.
Syscoin's distinctiveness arises from its dedication to delivering the best of both worlds through a dual-chain architecture. By solving the blockchain trilemma, Syscoin strikes a balance between security, decentralization, and scalability.
Z-DAG technology ensures fast and secure transactions, making Syscoin suitable for a variety of real-world applications. Syscoin also focuses on sustainability by utilizing merged mining, which bolsters network security without necessitating additional computational power.
Another unique aspect of Syscoin is its implementation of Proof-of-Data-Availability (PoDA). This Layer-1 solution ensures that all data required to validate state transitions is available, and plays a crucial role in the security and efficiency of Syscoin's Rollux Layer-2 scaling solution.
Syscoin also employs a masternode architecture that enhances security by facilitating finality, improving the Nakamoto coefficient, preventing chain rollbacks, and mitigating 51% and MEV or selfish mining attacks. As of June 2023, over 37% of the SYS supply is locked in 2600+ Syscoin masternodes, indicating a highly decentralized service layer and distributed coin supply.
A plethora of user-friendly wallet options, including desktop, web, and mobile wallets, is available for storing SYS. These include Pali Wallet, a web and mobile non-custodial wallet built by SYS Labs specifically for the Syscoin ecosystem.
Syscoin’s ambitious roadmap revolves around continuous innovation. Rollux, the L2 EVM, is a centerpiece of development, aiming to drastically increase transaction capacity and network efficiency. Moreover, all Rollux network fees are payable with SYS (with average transaction fees equating to less than a fraction of a cent).
However, the best technology doesn’t mean anything if nobody is using it, which is why SYS Labs was formed in 2023 to spearhead the expansion of the Syscoin ecosystem by offering a suite of products and services to provide attractive options for onboarding new users. SYS Labs’ products and services currently include:
- SuperDapp, the AI-infused Web3 social platform with privacy
- Pegasys DeFi exchange and AMM
- Luxy NFT Marketplace
- Pali Wallet V2, the easy-to-use Web3 wallet (web & mobile)
- DAOSYS, the new standard for DAO models
- Camada, a non-custodial, regulatory-compliant asset management tool for institutions and retail
This suite of products, built upon the transformative foundation of Rollux, embodies Syscoin’s commitment to cultivating an ecosystem that fosters creativity, growth, and evolution. We're laying the groundwork for a new epoch in the blockchain landscape, where the norm becomes swift, affordable, and scalable transactions that inherit the best decentralization and security.
In addition to SYS Labs’ own ventures, many partnerships have been formed over the years with teams who are excited to launch products on Rollux. All of this points to a holistic ecosystem following close on the heels of the mainnet. An open invitation is always extended to all EVM-based projects to explore Rollux and its benefits.
Syscoin is not just another blockchain platform; it is envisioned as an all-encompassing infrastructure that facilitates a myriad of decentralized applications and services.
By providing essential tools and capabilities, Syscoin empowers developers and entrepreneurs to create groundbreaking solutions on its blockchain, driving widespread adoption and industry transformation.
AtomicDEX is a non-custodial wallet, crypto bridge, and peer-to-peer (P2P) decentralized exchange that provides native support for the Syscoin blockchain. Users can HODL and trade SYS along with other popular cryptocurrencies such as BTC, ETH, DOGE, MATIC, and much more.