Welcome from Team Syscoin!

We are the Syscoin team – here to introduce ourselves, talk to you about our latest milestones, answer your questions, and meet you all in the comments section.

Today's AMA is special to us and we want to start by thanking the r/Cryptocurrency moderators and community for hosting us.

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Syscoin Team

Syscoin team members for today’s AMA:

• Jagdeep Sidhu [Lead Developer]: u/sidhujag
• Bradley Stephenson [Foundation Board Member + Marketing]: u/bstr156

About Syscoin

The best of Bitcoin and Ethereum in a single coordinated platform. Bitcoin's proven security and Ethereum's Turing-complete programmability elevated to true L2 scalability via ZK-Rollups.

Syscoin is a unique and very important alternative to Ethereum that isn't found with other smart chains on the market. Yes, everything that can be done with Ethereum can be done with Syscoin’s Network Enhanced Virtual Machine(NEVM). However, Syscoin's design keeps intact the "gold standard" security of the Bitcoin consensus model and merged-mining, while also providing all the best performance characteristics expected in Ethereum's 2.0 future due to L2 ZK-Rollup technology.

Beyond this, Syscoin provides opt-in features that can give projects regulatory compliance at scale for their asset's transactions, without involving custodians. This is unique, and can be used to enable securities like stocks to safely participate in DeFi, DEX, or other emerging fintech in a compliant way.

Connect with us:

• Reddit: r/Syscoin
• Twitter: @Syscoin
• Discord & Telegram
• Lead Core Developer:Jagdeep Sidhu
• Website: Syscoin.org

ROADMAP

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Syscoin NEVM Roadmap

Deploying NEVM in its entirety is a phased process

Step 1: PoW Smart Contracts, Q4 2021

The initial NEVM mainnet release will establish Layer 1 support for EVM and smart contracts, a trustless and fast SYS <-> NEVM bridge, a load-balanced RPC gateway, and what is needed to advance and upgrade the network further. At this early stage, NEVM itself will operate at speeds comparable to other EVMs, but with longer blocktimes due to Syscoin’s proof-of-work commitment. Scaling solutions for faster fulfillment speeds have already been proposed and will be released in subsequent steps.

Step 2: Rapid Speed via ZK-Rollups, Q1 2022

Shortly after the deployment of Layer 1 NEVM, we will introduce Layer 2 with zk-rollups. This will enable smart contracts to scale up to 210,000 TPS. At this stage our smart contract platform will exceed the speed of other EVMs, while keeping fees minimal, and will accomplish these while retaining the inherent security of Bitcoin’s security model and miners.

Step 3: Validium, Q3 2022

This stage will fulfill the technical vision for NEVM outlined by our lead developer, Jag Sidhu, in his peer-reviewed paper, * “A Design For An Efficient Coordinated Financial Computing Platform”, in which he outlines how NEVM will be able to reach speeds of up to 4 million TPS. This will serve as the lynchpin for a platform like no other that will be able to meet the Web 3.0 needs and structural demands of global mass adoption.

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Syscoin NEVM Explained

Advantages of NEVM

• L2 scalability for smart contracts, and independent fee markets, powered by ZK-Rollups
• Fully compatible with Ethereum: Any Ethereum smart contract can be deployed on NEVM.
• Security:
  • Proven L1: Bitcoin merge-mined PoW and Bitcoin-compliant consensus
  • Decentralized quorum-based chainlocks at every block make Syscoin’s L1 highly resistant to selfish mining and reorgs.
  • Safer DeFi as long-range MEV (Miner Extractable Value) is solved by finality offered through chainlocks.
  • In cases where Optimistic Rollups are desired, Syscoin’s finality makes safe settlements possible in mere hours, not days or weeks.
• EIP-1559: Indefinitely functional L1 economy focused on utility
• Viability for decentralized Web3 service provided by thousands of incentivized and independently operated full nodes composing Syscoin’s network
• Protocol adaptation enables trustless portability of value between the two primary blockchain evolutionary paradigms, Bitcoin and Ethereum (SYS <-> NEVM), on a single coordinated platform
• A path to trustless interoperability that is generalized to work with almost any chain that supports zero-knowledge proofs
• Appropriate separation of technical concerns between UTXO (Syscoin main) and Account-based (Syscoin NEVM) models.

RECENT NEWS

Mute, DeFi Platform on ZK-Rollups, to Launch on Syscoin NEVM: Mute intends to provide a superior platform for DeFi and governance, a state-of-the-art user-experience, and better security. Syscoin removes the need for expensive fees, while inheriting arguably the best security while doing so.

Stocks and Regulated Assets on Public Blockchains, DEX, DeFi? BitRank Verified® Integrates Syscoin: Blockchain Intelligence Group’s BitRank Verified® solution gives banks and businesses confidence in risk-mitigation and regulatory compliance through real-time transaction monitoring and risk scoring to quickly clear low-risk transactions and investigate high-risk ones.

Pali, the World’s First Bitcoin Core-based Web3 Wallet is Now Live! Pali is a non-custodial wallet, meaning you are the only one who has control over your wallet and its contents, in contrast with centralized exchanges, who you must trust to hold your coins and tokens on your behalf. Developers will similarly have the option to use a single wallet that supports Bitcoin and Ethereum-like web interactions in order to build their dapps, specifically using Syscoin Core & the NEVM, making Pali Wallet the first Web3-compatible Bitcoin wallet out there.

We thank you for joining the Syscoin AMA today, drop all your questions below so you can learn more about Syscoin!