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Syscoin (SYS), a cryptocurrency project that boasts 60,000 transactions per second, announced last week that it has launched its trustless Syscoin Bridge with Ethereum (ETH) on its testnet.

According to the announcement, Syscoin Bridge allows blockchain users to convert between SYS and ETH using zero-knowledge proofs that allow for token fungibility via a two-way minting and burning process.

“Syscoin Bridge is set to offer trustless interoperability between the Syscoin and Ethereum blockchains, freeing you from the common limitations and risks when moving from one platform to another,” states the Syscoin team. “Neither counter-parties nor incentivized custodial holders are required to use the bridge.”

As we previously reported, Syscoin now has roughly 30% of its total coin supply locked up in masternodes. Syscoin’s continued focus on incentivizing masternodes is ultimately to promote a healthy network and allow the proper functioning of Zero Confirmation Acyclic Graph (Z-DAG), an instant settlement protocol enabled by masternodes.

Investors can try out the testnet Bridge through this link.

More: It’s Time to Cross the Bridge
Related: Nearly 30% of Syscoin’s (SYS) Coin Supply Is Now Locked up in Masternodes

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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1 COMMENT

  1. Every other interop platform I know of involves any or some combination of counterparties, incentivized custodians, having your funds temporarily held in multisig wallets largely out of your control, etc.

    What stands out most to me is how Syscoin, a relatively low market-cap project compared to other interoperability platforms, appears to have nearly completed the most trustless form of interop available in the industry, in addition to a unique transactionality solution that appears to outperform others. This either means the Syscoin developers are particularly talented, or those of the other higher mcap projects attempting similar are just underachieving. In either case, Syscoin is worth keeping an eye on.

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