Syscoin (SYS), a cryptocurrency project that boasts 60,000 transactions per second, announced that it has launched its trustless Syscoin Bridge with Ethereum on its testnet.
After over a year of #interoperability research and development, and months of internal testing, we are thrilled to announce the trustless #Syscoin Bridge with #Ethereum is live on testnet and open to the public! Read all about it at the link in comments!
Happy testing! pic.twitter.com/mswdTTZd9v
— Syscoin (@syscoin) November 1, 2019
According to the announcement, Syscoin Bridge allows blockchain users to convert between SYS and ETH using zero-knowledge proofs that allow for a token changeability via a two-way minting and burning process.
The Syscoin team stated,
“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, Neither counter-parties nor incentivized custodial holders are required to use the bridge.”
As they had previously mentioned, Syscoin currently has roughly 30% of its total coin supply locked up in master-nodes. Syscoin’s continued focus on incentivizing master-nodes is ultimately to promote a healthy network and permit the proper functioning of Zero Confirmation Acyclic Graph (Z-DAG), an instant settlement protocol enabled by master-nodes.