What is Syscoin?

Syscoin (SYS) was established in 2014 as a fork of Bitcoin. It integrates Bitcoin's Proof of Work consensus algorithm with Ethereum's smart contract capabilities, forming a modular ecosystem that includes three distinct chains. The architecture of Syscoin consists of its UTXO and [N]EVM chains as Layer 1, along with Rollux as its Layer 2 solution, which is designed to provide enhanced scalability and performance for Ethereum-compatible decentralized applications.

Rollux distinguishes itself by being the only EVM Layer 2 secured through merged mining with Bitcoin and utilizes an advanced data availability model known as Proof-of-Data Availability. Syscoin aims to support a wide range of applications, including those related to the Metaverse, IoT, and smart cities. Its environment also features a Network Enhanced Virtual Machine for executing Ethereum-compatible contracts and includes additional Layer 2 solutions to broaden its interoperability and efficiency. The project's governance model incorporates a DAO framework for decentralized treasury management.