Cryptocurrency Q&A
What chain is Syscoin on?
What chain is Syscoin on?
JessicaMiller
Thu Jul 25 2024
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6 answers
1284
Could you please clarify which blockchain network Syscoin is built upon? As a cryptocurrency enthusiast, I'm interested in understanding the foundational technology that powers this project. Is it a standalone blockchain, or does it leverage an existing platform like Bitcoin or Ethereum? I'm eager to learn more about the architecture and technology stack behind Syscoin, as it could have significant implications for its scalability, security, and overall functionality.
6 answers
Valentino
Sat Jul 27 2024
This dual-chain design combines the best of two worlds: the stability and scalability of UTXO (Unspent Transaction Output) blockchains, which are similar to Bitcoin's blockchain, and the flexibility and programmability of NEVM (Near-Ethereum Virtual Machine).
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CryptoMercenary
Sat Jul 27 2024
The UTXO layer provides a secure and efficient way to handle transactions, while the NEVM layer allows for the development of smart contracts and decentralized applications (dApps) that are compatible with Ethereum's ERC standards.
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Valentina
Sat Jul 27 2024
By merging these two layers, Syscoin is able to offer a unified Layer 1 solution that is both scalable and programmable, making it an attractive option for developers and businesses looking to build on the blockchain.
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GalaxyWhisper
Sat Jul 27 2024
Syscoin is a blockchain project that stands out for its innovative approach to blockchain design.
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Lucia
Sat Jul 27 2024
The platform utilizes a dual-chain architecture, which is a unique and modular way of structuring a blockchain system.
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