Syscoin Developer Launches Ethereum-Compatible Layer 2 Network Secured by Bitcoin Miners

Sys Labs, the developer behind the Syscoin blockchain, which goals to mix Ethereum-style programmability with Bitcoin’s safety, has launched a “layer 2” community referred to as Rollux for cheaper and quicker transactions.

Like the principle Syscoin blockchain, the Rollux community is suitable with the Ethereum Virtual Machine or EVM, the software program that executes good contracts on Ethereum. The venture will get its safety from Bitcoin miners by way of a course of often known as merged mining that initially was offered by Bitcoin inventor Satoshi Nakamoto in 2010.

Simply as layer 2 networks or “rollups” atop the Ethereum blockchain enable for quicker transactions, the Rollux community can course of 700 transactions per second assuming fundamental switch, versus three to 5 per second on the bottom Syscoin layer, in response to Sys Labs CEO Jagdeep Sidhu.

“Merged mining is a manner to supply one other system to open the doorways to scale right into a rollup,” Sidhu stated in an interview. He stated the venture has been within the works for eight years.

Rollups like Optimism, Arbitrum and zkSync have profilerated atop Ethereum, infamous for its generally exorbitant fees, as a method of avoiding congestion. Bitcoin (BTC) is the unique and largest blockchain and is taken into account essentially the most safe, however lacks Ethereum’s programmability by way of good contracts.