KCN PROTOCOL UPDATE – SYSCOIN 4.0
Syscoin is developed as a protocol that enables a set of business components rooted on the blockchain. Organizations can leverage the value proposition offered by the cutting edge distributed ledger technology of Syscoin via an easy to use API. Leveraging the strengths of other blockchains and their respective development communities for certain operations, the fourth iteration of the Syscoin Protocol further defines Syscoin’s value proposition by making the main blockchain a high-throughput transactional layer with support for Assets on top. Blockchain Foundry have undertaken considerable research since the company went public.
Part of the research was how the team would enable a de-centralised payment network that scales for micro-transactions. This is where Z-DAG came from and is a concurrent design, along with masternodes incentivised for high throughput relaying of transactions. Syscoin and Syscoin Assets will have a 1:1 mapping and footprint through an ERC-20 equivalent contract running on the Ethereum network.
In addition to the security of being backed by the Proof-Of-Work network of Bitcoin, Syscoin 4.0 provides benefits to both ecosystems — providing Syscoin users with the enhanced functionality, but also gives Ethereum users the speed and scale benefits of Syscoin. The new bridge technology is unique in that it allows for Syscoin tokens to exist across other blockchains, which in sum represent the total circulating supply of Syscoin. Reported on the company’s official medium. The news release partner STEX.
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