Syscoin, founded in 2014 as a fork of Bitcoin, integrates the Proof of Work (PoW) consensus algorithm with Ethereum’s smart contract capabilities. It consists of a modular ecosystem featuring three chains: the UTXO and [N]EVM chains as Layer 1, and Rollux as Layer 2. Rollux is designed to be EVM-compatible and secured through merged mining with Bitcoin, utilizing OP Stack and Proof-of-Data Availability for enhanced data security and accessibility.
The platform aims to facilitate smart contract applications across various sectors, including the Metaverse and Internet of Things. Syscoin also includes unique offerings such as the Network Enhanced Virtual Machine (NEVM) for hosting Ethereum-compatible smart contracts, as well as additional Layer-2 solutions like Z-DAG and the Syscoin Bridge to improve scalability and interoperability. Its governance model incorporates DAOSYS for treasury management.
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