Syscoin One-stop Solution
Syscoin One-stop Solution – Over the past decade, blockchain has emerged as one of the most sought-after technologies in the world. Along with artificial intelligence and machine learning, blockchain is expected to be leading the vanguard of the next technological revolution.
Applications for blockchain technology are found in almost every industry; from FinTech and pharmaceutical, to supply chain, automobile, and hospitality. However, despite the technology’s broad appeal, companies and organizations have struggled to move their business to a blockchain platform.
The major hurdle has been interoperability between different blockchain platforms, which would allow blockchains with different offerings to connect and share their services with each other. Syscoin platform brings a revolutionary solution to this problem with Syscoin Bridge, a first-of-its-kind blockchain bridging technology that aims to provide comprehensive blockchain solutions to businesses, and in the process, streamline the on-boarding of in-house systems to a blockchain environment.
As quoted in the Syscoin whitepaper, “Syscoin is a blockchain protocol with powerful core features that enable you to build fast, secure, low-cost applications with ease, backed up by the security and strength of the Bitcoin network”.Syscoin Whitepaper
Since its inception in 2014, the Syscoin development team has been diligently working on improvements to the protocol, making it more robust, secure, and focused, and most importantly accessible for all.
Syscoin’s Z-DAG Solution
The protocol’s main feature is its patent-pending Z-DAG technology that offers unmatched scalability and transaction speed while also providing enterprise-grade business solutions.
Z-DAG (Zero Confirmation Directed Acyclic Graph) was designed by Blockchain Foundry as a core feature of the Syscoin blockchain protocol. Besides enhancing the scaling capabilities of the Syscoin blockchain network, Z-DAG also provides an outstanding transaction throughput of up to 60k transactions per second (TPS), for native Syscoin tokens.
To demonstrate how the bridge works, its initial release in Syscoin 4.1 will enable two-way bridges between Syscoin and Ethereum. When used in tandem with Syscoin Bridge, Z-DAG will connect tokens to the Ethereum network where they can be used to execute smart contracts.
Syscoin Bridge is the key feature of the protocol which makes interoperability between different blockchains achievable; since business workflows are often interconnected across different platforms, Syscoin Bridge is expected to become an essential part of systems design.
In addition to interoperability and scalability, Syscoin protocol puts a high priority on network security: as it is merge-mined with bitcoin, Syscoin platform is as secure and robust as the Bitcoin network.
“Combining the security of Bitcoin, the functionality of Ethereum, and the speed and scalability of our Z-DAG technology, enterprise-ready blockchain applications are now a reality via the Syscoin Protocol,”Jag Sidhu, Blockchain Foundry CTO and inventor of Z-DAG
All of this can be done at a very low cost; the transaction fee for Syscoin tokens or other assets on the platform is almost negligible, making it ideal for a wide range of use-cases such as point-of-sale transactions.
The Syscoin protocol provides a holistic solution to businesses that can help them scale across different verticals. Its major focus is to provide business developers access to all of the APIs and blockchain resources available today, with a low-cost and high-speed blockchain application development platform.