Syscoin announced that its development team has successfully completed the Syscoin Bridge protocol with Ethereum .
ERC-20 tokens will be able to cross over into the Syscoin ecosystem starting from block 348,000.
Through this move, they can benefit from the high transaction amount, low fees and near-instant secure transactions that Syscoin provide, while maintaining smart contract functionality of Ethereum and the overall supply across both chains.
Syscoin bridge is considered a major advancement in allowing interoperability with decentralized, trustless blockchains.
Many attempts have been made to bring interoperability into the blockchain environment, which in turn resulting in separate networks failing to provide cross-chain transactions and other communications.Nevertheless, many of these measures have brought in additional challenges such as centralization, control, and the use as an intermediary of a third token or chain.
Syscoin Bridge solution managed to solve these challenges to improve the entire blockchain ecosystem. Platforms that integrate with Syscoin Bridge will have access to Syscoin’s Z-DAG (Zero-Confirmation Directed Acyclic Graph) network, which provides flexibility in speed balance against security depending on the transaction’s value.
In addition to that, bridged tokens will maintain all of their current functionality and features (such as smart contracts and toolkits) that will carry such innovations to users of the Syscoin Platform.
Whiteblock, a reputable blockchain research company, conducted a test which revealed that, under realistic network latency conditions, the Z-DAG network could generate up to 60,000 transactions per second. That is quicker than existing networks of credit cards like Visa.
Jagdeep Sidhu, Syscoin Co-founder and Lead Core Developer stated:
“You have seen us working on Syscoin Bridge for a long time. We are excited Ethereum developers can finally scale their dApps and smart contracts via the Syscoin protocol. This interoperability solution can play a crucial role in the adoption of cryptocurrencies and DeFi.”
It is worth noting that, the Syscoin Bridge protocol is accessible via Syscoin’s website.