Testnet Rollux Is Syscoin’s Sharp Weapon In The ZK-Rollup Solution Race
Syscoin has launched a public Testnet for Rollux, a Rollup first solution that offers unprecedented security, speed, and scale. With Rollux, Syscoin is gradually pushing beyond the limits of a blockchain by participating in the exciting push of ZK technology in the cryptocurrency market.
ZKP technology becomes explosive
Zero-knowledge proof (ZKP) is a cryptographic technology, the core of which is a method by which one party can prove to another party (the verifier) that it knows a value of x without needing to reveal any information other than the fact that they see the value of x.
It has become explosive in the cryptocurrency market because of its advantages that will help this industry complete in the right direction of decentralization and security. Specifically,
- Scalability for Blockchain: Zk Rollup solutions use ZKP technology to increase throughput and scalability for Layer 1 Blockchains. Some typical projects are StarkNET, Loopring, and Zksync.
- Privacy and security: Zero-knowledge proof (ZKP) technology helps confirm the completeness and correctness of data without revealing important information, so beyond the application, layer two helps increase the Ability of extension. Zero-knowledge (ZKP) technology is also applied in security and privacy application layers, such as Monero and Zcash,…
ZKP technology promises to be one of the medium and long-term scaling solutions for Blockchain.
Zk Rollup solutions allow Ethereum and other layers 1 blockchain to scale powerfully, allowing for a fast transaction validation and verification process.
Syscoin joins the race
Syscoin is an open source and decentralized project founded in 2014 with the NEVM blockchain that 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 raised to true scalability via Optimistic, ZK-Rollups, Cross-chain ZK-Rollups, and other Layer 2 technologies.
- Token: $SYS
- Market Cap: $147.9 million
- Circulating Supply: 703 million $SYS
- Total Supply: 753.5 million $SYS
On September 28, 2022, at Token 2049 in Singapore, announced Rollux OPv1’s public testnet, its first in-house aggregator featuring Syscoin’s only scaling solution.
It is based on a fork of Optimism version 1 and will follow Optimism into the upcoming Bedrock upgrade. Rollux OPv1 supports fractal scaling for Syscoin NEVM. Future Rollux solutions will also include ZK-based compilations.
Rollux solutions like OPv1 are designed to allow end users to deliver, execute, and deploy low-cost contracts almost instantly.
Rollux is designed to allow end users to transfer, execute, and deploy contracts at a low cost almost instantaneously while giving projects the scalability they need to deliver. Web3 services at scale without compromising their underlying security.
The Rollux Suite will also feature Syscoin’s on-chain Proof of Data Availability (PoDA) solution, ZK Rollups, and the first cross-chain ZK bridge, in collaboration with Syscoin’s partner, the ZKCross cross-chain De-Fi network.
Currently, the testnet is live. According to the development roadmap, Layer 2 rollups Syscoin – Rollux – is about to be mainnet this year after going through many tests.
Rollux is ready to hit the market like a hurricane
According to the developers, the direct EVM equivalence in Nitro and Cannon will give us a huge step forward towards stateless Layer 2 systems, opening new advancements in scalability and security confidentiality of Layer 2 systems.
“We also believe that with direct EVM equivalents like Nitro and Cannon technologies, we can unlock the performance and scale that will elevate the space and potentially give a timeframe of several years before that. ZK-Rollups work well.” Jagdeep Sidhu, Syscoin Lead Developer, said.Jagdeep Sidhu, Syscoin Lead Developer, said.
Thanks to Rollux, Syscoin’s NEVM will be the first to utilize Proof of Data (PoDA) availability pioneered by Jagdeep Sidhu. After Ethereum, it will also be among the first to host optimistic compilations. Still, the only one to fall back on Bitcoin’s gold-standard PoW security while Ethereum 2.0 transitions to PoS.
Rollux can’t reveal anything about compilations yet and will integrate ZK compilations once they’re ready to use. However, the availability of Optimistic rollups makes it the perfect place to start the leap forward in Layer 2 scaling solutions the crypto space has ever seen without sacrificing decentralization, security, and affordability lie at the heart of Syscoin.
The best part of the Rollux Suite for projects that choose to use it is that it will be launched as a non-profit product of the Syscoin Foundation, as we will be forgoing the implementation of the token model commonly found in cryptographic objects competitors, which only imposes unnecessary fees and adds costs to users and hinders adoption.
As all network fees will be paid in SYS tokens and the network is operated as a non-profit in the best interest of the Syscoin ecosystem, the developers are creating a path most effective toward mass adoption.
To achieve that goal, keep fees low, use DAOSYS and Syscoin treasury to cover costs, and provide seamless integration of scalable, open-source infrastructure, free to use (no licensing required) and self-sufficient once decentralized sequencing processes are integrated.
Syscoin Rollux will be the scaling technology for Solidity-based smart contracts. Rollux is the Layer 2 suite needed in the blockchain space to unlock the maturity of widespread adoption. It will be beneficial to scale projects running on the Syscoin Platform to a scale where boundaries are removed.
Since Syscoin’s NEVM chain is EVM-compatible, it will also be the perfect tool for deploying projects from Ethereum, all of which can benefit from being secured with Bitcoin’s security at scale with the minimal fees inherent to the Syscoin Platform.
The launch of the public Testnet for Syscoin’s Rollux can be seen as a big step forward in bringing blockchain into the race of Rollups solutions. By using ZK, Syscoin will be able to process more transactions on the network and provide better interoperability with other networks. Combining Syscoin and ZK-Rollups makes Syscoin a very unique project. Rollux is a complete Layer 2 solution, which will initially employ Optimistic rollups followed by ZK rollups once they realize maturity.
With Rollux, Syscoin has positioned itself as a major player in the blockchain space, offering a Layer 2 solution that can process an impressive amount of transactions. The use of ZK rollups will only enhance the network’s performance and interoperability, making it an attractive option for those in need of a fast and reliable blockchain solution.
In 2023 ZK technology will be more widely adopted with the launch of its scalability and security enhancements. As ZK technology continues to mature and gain wider adoption, Syscoin’s Rollux is poised to become an even more powerful tool for businesses and developers alike.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu