EINDHOVEN, Netherlands--(BUSINESS WIRE)--Syscoin, a state-of-the-art base layer protocol that uniquely combines the composability of Ethereum-style smart contracts with the Bitcoin Network’s industry leading security, today announced the upcoming launch of Rollux, a suite of developer-ready scaling solutions for building decentralized applications with 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,” said Jag Sidhu, Syscoin Foundation’s lead developer and president. “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.”
Importantly, with Rollux, Syscoin utilizes its proprietary Proof-of-Data Availability (PoDA) innovation to secure available off-chain data for rollups. Syscoin will also be one of the first chains apart from Ethereum to host optimistic rollups and the only one to leverage Bitcoin’s gold-standard proof-of-work hashing for its own security. This will be an increasingly important distinction as Ethereum moves toward a proof-of-stake consensus model.
Syscoin’s development roadmap includes three initial phases. The first phase was completed in December with the launch of Syscoin’s Network-Enabled Virtual Machine (NEVM). NEVM is Syscoin’s Enhanced Virtual Machine parallel Layer 1 chain, which enables developers to build Ethereum-compatible, smart-contract-based decentralized applications on the Syscoin Network. Rollux is Syscoin’s in-house Layer 2 rollup suite and represents the next phase of Syscoin’s progress.
Rollux will offer projects which are leveraging the Syscoin Platform base layer the scaling solutions they need to offer decentralized services at speeds akin to Web2. Moreover, the Rollux suite will be a complete Layer 2 solution covering the gamut of scaling solutions. Initially, Rollux will offer Optimistic rollouts before expanding to include ZK rollups as they become viable.
Upon its release, Rollux’s optimistic rollup utility will take advantage of modular scaling technologies to offer the most efficient, cost-effective, scalable and secure Layer 2 in existence. With direct EVM equivalents like Arbitrum’s Nitro and Optimism’s Cannon, Syscoin will unlock performance and scale 50 times that of current Layer 2s and 5000 times the performance of the Ethereum mainnet. This robust platform will advance the space for some years to come, and eventually usher in stateless Layer 2 systems that represent a further step forward in scalability and security.
With Layer 2 scaling tied to Bitcoin’s security standard, Syscoin Rollux will represent the bleeding edge of scaling technology for Solidity-based smart contracts. Further, because the smart contract layer is fully EVM-compatible, onboarding projects from Ethereum that seek to add Bitcoin’s security at scale will be simple. Finally, because the Rollux suite is being launched by the not-for-profit Syscoin Foundation, the project will avoid imposing excessive fees and token models that add friction and costs to the users.
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 rollups and other Layer 2 technologies.
