SOFTWARE SECURITY

Syscoin Launches Network Rollup Facility

Syscoin | June 13, 2022

Syscoin
Syscoin, a cutting-edge base layer protocol that incorporates the composability of Ethereum-style smart contracts with the Bitcoin Network's industry-leading security, announced today the upcoming release of Rollux, a suite of developer-ready scaling solutions for developing decentralized applications at the speed of Web2 architectures.

“At Syscoin, we are constantly improving the architecture of our platform to offer the most capable solution for developers who want to build with Bitcoin’s security, Ethereum’s flexibility, and, beginning today, Syscoin’s own scaling solutions. The launch of our in-house Layer 2 rollup suite marks a major milestone in the evolution of the Syscoin Network toward being the ultimate foundation for applications aimed at individuals, global enterprises and even governments around the world.”

Jag Sidhu, Syscoin Foundation’s lead developer and president

Moreover, Syscoin uses its unique Proof-of-Data-Availability (PoDA) breakthrough with Rollux to secure accessible off-chain data for rollups. Apart from Ethereum, Syscoin will be one of the first chains to host optimistic rollups and the only one to use Bitcoin's gold-standard proof-of-work hashing for its own security. As Ethereum evolves toward a proof-of-stake consensus paradigm, this difference will become more relevant.

Syscoin's development plan is divided into three segments. The first phase concluded in December with the release of Syscoin's Network-Enabled Virtual Machine (NEVM). Syscoin's NEVM parallel Layer 1 chain allows developers to construct Ethereum-compatible, smart-contract-based decentralized apps on the Syscoin Network. Rollux is Syscoin's in-house Layer 2 rollup suite and marks the next step in the company's evolution.

Rollux will provide scaling solutions to applications that use the Syscoin Platform foundation layer in order to provide decentralized services at Web2-like speeds. Furthermore, the Rollux suite will be a comprehensive Layer 2 solution that covers the full range of scaling methods. Rollux will first provide Optimistic rollouts before extending to include ZK rollups when they become practicable.

When it is released, Rollux's optimistic rollup utility will use modular scaling technologies to provide the most efficient, cost-effective, scalable, and secure Layer 2 available. Syscoin will unleash performance and scalability 50 times that of existing Layer 2s and 5000 times that of the Ethereum mainnet with direct EVM counterparts like Arbitrum's Nitro and Optimism's Cannon. This powerful platform will continue to progress the sector for many years to come, ultimately ushering in stateless Layer 2 systems that offer a significant advancement in scalability and security.

Syscoin Rollux will represent the cutting edge of scaling technology for Solidity-based smart contracts, with Layer 2 scaling coupled to Bitcoin's security standard. Moreover, since the smart contract layer is entirely EVM-compatible, it will be straightforward to onboard applications from Ethereum that want to add Bitcoin's security at scale. Finally, since the non-profit Syscoin Foundation is releasing the Rollux suite, the project will avoid charging excessive fees and using token schemes that add friction and costs to consumers.

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