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Syscoin (SYS) is a smart contract platform that supports a cutting-edge Web 3.0 ecosystem with ultra-low fees, decentralized Layer-1 security and Layer-2 scalability that provides for economies of scale via Rollups.

The Platform provides trustless interoperability, token and asset microtransactions that are scalable, and bitcoin-core-compliant security. It can reportedly interoperate today with any Ethereum standard ERC-20 token without requiring second or third-party liquidity providers.

How Does Syscoin Work?

Syscoin Core is a SHA-256 merge-mined proof of work blockchain which can be mined using energy already spent mining Bitcoin. Syscoin Platform utilizes a network of masternodes as a scalable service layer and offers masternode owners seniority bonuses. Syscoin benefits smart contracts and Rollups by securing transactions with Bitcoin’s own Proof of Work and Bitcoin’s network of miners through merged-mining.

Syscoin also provides Finality in the form of chainlocks which are served by quorums of incentivized full nodes (masternodes). This Finality provides for safer Defi, effectively eliminating the risks of 51% attacks and long range miner extractable value (MEV attacks) that Ethereum remains susceptible to, while also retaining proven Nakamoto consensus and Proof of Work.

Syscoin is a dual-chain architecture with a rollup-centric design. This consists of an Ethereum-based blockchain called Network Enhanced Virtual Machine (NEVM), released December 6, 2021, which is 100% compatible with any smart contracts or Rollups built for Ethereum. The other blockchain is called Syscoin Core or Syscoin Main. It is a Bitcoin-based blockchain with an asset layer supporting both Fungible and Non-Fungible tokens, taproot, a proprietary DAG protocol called Z-DAG, and more.

What Makes SYS Different?

The overall design enables users and developers to leverage the strengths of each “gold standard” model and SYS creates new synergies between them where appropriate. Both of these blockchains utilize the same supply of the native coin SYS which is based on EIP-1559. SYS owners can transfer SYS between both chains via the trustless and permissionless Syscoin Bridge which uses a 2-way peg mechanism.

The project is broad in scope and offers novel solutions to numerous industry-wide challenges, including regulatory compliance. For compliance, Syscoin provides Notary, an opt-in solution that enables enterprises to utilize Syscoin’s public blockchain for their tokens while ensuring regulatory pre-compliance for individual transactions while asset owners retain self-custody. This provides the necessary technical groundwork for a future in which securities and stocks can participate in Defi on a public blockchain alongside other tokens.

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