It’s Time to Cross the Bridge
After months of internal testing, and with the help of the mighty Art-of-Bug team, we are thrilled to announce that the Syscoin Bridge testnet is open for public testing!
For those not yet familiar with Syscoin Bridge, here is a short recap:
A Trustless Bridge
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.
A two-way mint/burn process using zero-knowledge proofs provides token fungibility in both directions, while the sum token supply is properly maintained across all involved platforms.
Syscoin Bridge stands apart by providing other distributed ledgers the benefits of Syscoin Platform, including access to the decentralized high-throughput transaction layer, ZDAG; tested by Whiteblock and shown to surpass the transaction throughput of the largest credit card networks.
Bridge users benefit from Syscoin's underlying security, which is inherent in being merged-mined with Bitcoin and Bitcoin Cash; Syscoin’s base layer remains fully compliant with Bitcoin Core, staying up-to-date with the latest bitcoin technology.
Prominent Syscoin core developers, Blockchain Foundry selected Ethereum as the first subject of integration for the bridge. Two fundamental reasons led the company to choose Ethereum: it provides new and existing Syscoin Platform Tokens with access to Ethereum's time-tested smart contract capabilities and toolkits, and it addresses Ethereum's growing need for a viable scaling solution by giving ERC20s access to fast, secure, low-cost transactions on a scalable layer that is also decentralized.
Now is the time for you to test and experience the bridge for yourself!
Make sure to join the testnet channel in the official Syscoin Discord before you get started.
To start testing, visit the testnet Bridge Dapp site https://bridge-testnet.syscoin.org/
Then simply choose whether you want to start testing in the SYS to ETH or ETH to SYS direction, and let the wizard guide you through the process in simple steps. For more detailed step-by-step instructions, use this guide
To make it easy for you to obtain the Syscoin tokens required to use the bridge, a Syscoin faucet has been developed by Art-of-Bug (commissioned and paid for by Syscoin Core Developer and Syscoin Foundation Chairman, Jagdeep Sidhu). This faucet provides both mainnet and testnet SYS.
Draining of the faucet is prevented by requiring the user to provide a proof-of-work over a server-created challenge, and by limiting the frequency of sessions from each IP address. The more work the user proves, the more coins are sent. The user can thus obtain a small amount of coins fairly quickly or they can decide to let their computer calculate slightly longer in order to acquire a higher quantity. All basic parameters and limits are configurable on the server.
We would like to thank everyone who donated to the Bug Bounty fund!
Please join us on testnet. The more participation we receive, the sooner we release on mainnet! See you in the Discord channel!
Syscoin Foundation, Blockchain Foundry & SDMT