Veteran blockchain network Syscoin has launched its first rollup solution, Rollux OPv1, on the public testnet.
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 Optimistic, ZK-Rollups, Cross-chain ZK-Rollups and other Layer 2 technologies.
According to Syscoin, Rollux is its in-house rollup suite, and it’s the only rollup in the world backed by Bitcoin’s gold standard PoW security.
Scalability goes beyond speed, transaction per second, and cheap costs, and places increased priority on security and decentralization to meet the ever-growing demands of Web3 infrastructure and mainstream adoption. Syscoin’s rollup solution claims to bring the highest security and throughput at the lowest cost, making it the leading Layer 2 solution for Web3.
“We’ve spent the past 8 years since the initial launch of Syscoin developing our systems architecture and product offerings, to ensure we’re providing developers with the best possible value proposition,” states Syscoin Foundation President & Lead Developer Jagdeep Sidhu. “Through this, we’re empowering them to bring new and exciting use cases to make, and ultimately change the world.”
Syscoin mentioned in a press release shared with AlexaBlockchain that Rollux OPv1 is an optimistic rollup, which enables end-users with near-instant low-cost transfers, executions, and contract deployments.
With the testnet now live and underway, Rollux OPv1 joins a number of innovations designed to kickstart Syscoin’s expanding ecosystem and partners, including: Pegasys, SYSPad, BuilditMerchants, MudAI, DystoWorld, Luxy, ZKCross, QiDAO, KOLnet, SYSstables, Denet and ApeSwap all with infrastructure support from Ankr, Getblock and Band Protocol.
The Rollux suite also includes optimistic and ZK Rollups, in addition to a first-ever cross-chain ZK bridge, created in pioneering collaboration with ZKCross. This is complemented by Syscoin’s Layer 1 data availability innovation, PoDA (Proof-of-Data Availability).
PoDA was designed to address bottleneck issues for censorship-resistant data security for rollups and solve data availability for Layer 1. Being positioned on Layer 1, PoDA has a compounding effect on speed for every additional layer. Although working independently, Ethereum reached a similar conclusion and started creating proto-danksharding, however, PoDA is already live on the public testnet, whereas Ethereum’s innovation is about a year away.
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