Sys Labs, developer of the Syscoin blockchain, which aims to combine Ethereum-style programmability with the security of Bitcoin, has created a “layer 2” network called Rollux to enable cheaper and faster transactions. I launched it.
Similar to the main Syscoin blockchain, the Rollux network is compatible with the Ethereum Virtual Machine (EVM), the software that runs smart contracts on top of Ethereum. The project obtains security from Bitcoin miners through a process known as merge mining, which was originally proposed by Bitcoin inventor Satoshi Nakamoto in 2010.
According to Jagdeep Sidhu, CEO of Sys Labs, the Rollux network is intended for basic transfers, similar to how Layer 2 networks or “rollups” on the Ethereum blockchain enable faster transactions. It can process 700 transactions per second, while the base Syscoin layer can process 3 to 5 transactions per second. .
“Merged mining is a way to provide another system that opens the door to scaling up to rollups,” Sidhu said in an interview. He said the project has been in the works for eight years.
Rollups such as Optimism, Arbitrum, and zkSync are being profiled on Ethereum, which is notorious for sometimes exorbitant fees as a way to avoid congestion. Bitcoin (BTC) is the original and largest blockchain and is considered the most secure, but it lacks the programmability of Ethereum through smart contracts.
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