Syscoin Bridge and interoperability
By Inkarias - 2019-11-06
Syscoin is a well established project within the crypto sphere offering 60,000 transactions per second, has announced during last week the official launch of its trustless Syscoin Bridge with Ethereum on the official Syscoin testnet. For reminder , Syscoin project aims to provide a simple, intuitive, secure and open source platform for the creation and the development of various decentralized applications with multiple use cases to increase general adoption.
The core Syscoin team has been hard working during the past year to improve the interoperability research and development, and after months of internal and intensive testing, has finally announced the public release of the trustless #Syscoin Bridge with #Ethereum blockchain. According to the information previously shared by the team, Syscoin Bridge allows blockchain users to convert between SYS and ETH using zero-knowledge proofs that allow for token fungibility via a two-way minting and burning process. As the team announced to the community:
Syscoin Bridge is set to offer trustless interoperability between the Syscoin and Ethereum blockchains, freeing you from the common limitations and risks when moving from one platform to another. Neither counter-parties nor incentivized custodial holders are required to use the bridge.
A wide masternode network
Syscoin has grown really fast since its inception and has now roughly 30% of its total coin supply locked up in the different masternodes held by the community. Syscoin’s continued focus on incentivizing masternodes is ultimately to promote a healthy network and allow the proper functioning of Zero Confirmation Acyclic Graph (Z-DAG), an instant settlement protocol enabled by masternodes.
If you are looking to participate in the testnet and Syscoin bridge in general , you can visit https://bridge-testnet.syscoin.org/ or the official home page at https://syscoin.org for more details on how to join the process