๐ ๏ธ Syscoin in a Nutshell
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Mission
Syscoin is an open-source community dedicated to scaling Bitcoin while staying true to its original ideals. With a focus on proof-of-work security, Syscoin aims to meet global needs and emerging use cases, providing a comprehensive network and protocol for projects aiming to achieve Bitcoin Layer 2 solutions.
The Blockchain Protocol
Syscoin operates as a mainnet Bitcoin Layer 2 (L2) solution, offering a data availability protocol that scales efficiently. Merge-mined by a majority of Bitcoin's hashrate, Syscoin anchors rollups to Bitcoin's proof-of-work, enabling EVM and AltVM rollups on Bitcoin. Rollux, an EVM-equivalent OPStack with fast block times and low fees, is one such rollup currently live on Syscoin.
zkDA and Trustless Interoperability
Syscoin is pioneering zkDA, a solution for cross-chain interoperability through ZK light clients. This innovation allows other blockchains to access Syscoin's Data Availability and Bitcoin's proof-of-work, facilitating trustless interoperability with other ecosystems.
Decentralized Finality without Slashing
To ensure decentralized finality and mitigate risks from chain re-orgs, Syscoin implements a finality mechanism using multi-quorum chainlocks. Supported by randomly selected Sentry nodes, this adds a layer of security on top of Bitcoin's proof-of-work, reducing the risks of re-orgs, 51% attacks, and selfish mining without resorting to slashing.
Why $SYS?
$SYS is Syscoin's utility-focused native coin, based on EIP-1559. It incentivizes Bitcoin miners to continue supporting Bitcoin and rewards Syscoin's Sentry nodes. By using $SYS, users avoid high gas fees and preserve their finite BTC holdings for long-term investment.
