Syscoin Roadmap 2022
The latest Syscoin roadmap highlights the advancements we are working to accomplish before the end of 2022. Collectively, these are the foundation on which our ecosystem continues to grow as we establish new partnerships and broaden Syscoin's market presence as the ideal settlement layer for economies in a decentralized future.
Network-Enhanced Virtual Machine
Phase One of the NEVM launch was completed! Our Bitcoin-secured Layer 1 for EVM smart contracts reached mainnet on block 1,317,500. Now you can leverage the benefits of Bitcoin's POW security and the flexibility of Ethereum on a modular chain built to remain indefinitely decentralized, scalable, and affordable.
NEVM Layer 2 draws near!
ZK-Rollups: Matter Labs deployed zkSync 2.0 (zkEVM) to public testnet on February 22nd. Each day brings us closer to its mainnet release and source code publication, much anticipated by the Ethereum and Syscoin communities. It is at that point that Syscoin will begin to implement ZK-Rollups based upon zkSync 2.0. Syscoin is uniquely designed as the ideal secure settlement layer for ZK-Rollups, and is the way forward for projects looking to achieve the trifecta of speed, scalability and proven decentralized security for economies of scale. We will make sure the Syscoin community is kept up-to-speed as we become aware of new progress towards a zkSync 2.0 mainnet.
Where we are with implementing ZK-Rollups: Matter Labs continues to focus on ensuring zkSync 2.0 will be an appropriate scaling solution that functions as designed. In a recent Reddit AMA, Matter Labs stated that achieving the zkSync 2.0 mainnet by the end of 2022 is a "very conservative" estimation, implying that everyone can expect this sooner rather than later. Given the rapid progress Matter Labs showed at the time, Syscoin had originally estimated that this would be complete by the end of Q1 2022. We welcome the process of their due-diligence because zkSync 2.0 is mission-critical for future economies of scale that will span the globe.
Optimistic Rollups: Syscoin is an ideal Layer 1 for Rollups of the Optimistic kind, as well as ZK. Both types of solutions will exist into the future and each has certain advantages. For example, Optimistic Rollups are an established technology, plus they involve less computational overhead than ZK-Rollups. Our Business Development team has held some promising discussions with multiple innovators. In the near future you can expect to see Optimistic Rollups working on top of Syscoin, perhaps very shortly, even before ZK-Rollups!
Validium & Proof of Data Availability
Supporting ZK-Rollups in the best way possible involves more than just providing secure Proof of Work settlement on Layer 1 along with Finality. Proof of Data Availability is another very important element. This is a new concept for a more scalable approach to Data Availability that involves a fast and efficient way of anchoring off-chain storage to Layer 1 security while also eliminating the need for blockchain pruning. The solution is multi-faceted, and is an opportunity to create some new long-term collaborative partnerships.
While speaking to the Blockchain World Summit in Dubai, Jag Sidhu, Syscoin’s lead core developer made an important announcement. The Syscoin Foundation has embarked on a project representing the next step of evolution for Treasury Management, Decentralized Autonomous Organizations (DAO), and for Syscoin and our ecosystem.
DAOSYS will be the first DAO implementation of a revolutionary new technology for treasury management we call Autonomous Service Engine. DAOSYS is focused on making Syscoin a hotbed of innovation through a unique risk-mitigated funding mechanism useful for bringing new projects, initiatives, and more, into reality within the Syscoin ecosystem. This can serve as a perpetual driver of growth and advancement. Further, DAOSYS solves root problems that have affected DAOs up to now. For one, it eliminates the need for human governance. DAOSYS is part of a larger goal of Syscoin Foundation to provide the advancements necessary for DAO technology to disrupt corporate finance as a driver of innovation. It will also be advantageously positioned as a DAO at the root of digital value, as it will be oriented to serve Syscoin, a Layer 1 blockchain with a full-stack ecosystem.
Learn more about Syscoin NEVM
Some resources for you.
A simplified boil-down of what NEVM is, and what it means for Syscoin and blockchain technology
Transfer SYS from the Syscoin mainchain to NEVM using a trustless and non-custodial Web3 application that works with Pali Wallet and MetaMask.
Syscoin is a decentralized and open-source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum in a single coordinated modular platform.
Syscoin is ushering in the next step in the evolution of blockchain technology, providing Bitcoin's proven security and Ethereum's Turing-complete programmability elevated to true scalability via Rollups.
The project is represented by the nonprofit Syscoin Foundation which is registered in Eindhoven, Netherlands.