Syscoin Weekly Update XV.
Weekly Video: How We Got Here
In this video, we'll delve into how Syscoin stands tall as one of the oldest and most advanced projects in the industry. The journey has been filled with highs and lows, but every obstacle encountered was an opportunity to create something better. With the release of Syscoin's Layer 2 technology quickly approaching, which will allow for an explosion of Web3 tech, it is important to reflect on how far we’ve come.
This week's video: "How we got here"— Syscoin (@syscoin) March 15, 2023
Delve into how #Syscoin stands tall as one of the most mature and advanced blockchain projects. A long journey of highs and lows, turning all obstacles to opportunities. With great releases on the way, let's reflect on how we've come so far. pic.twitter.com/PGMMrWMoQq
Syscoin 4.4 PoDA Coming to Mainnet
The biggest news for Syscoin over the past week was the launch of our network upgrade to Version 4.4. Slated to take place on Syscoin block 1,586,000 on March 23 next week, this will introduce the industry’s first Layer 1 data availability solution, PoDA, onto mainnet. This should be good news for anyone anticipating the upcoming launch of Rollux on Layer 2, because it is the essential first step in a two-step process. Rest assured, the only Ethereum-compatible rollup built on Bitcoin is well on its way. Read more about it here.
DystoWorld Launches Syscoin Collection
Yesterday, DystoWorld revealed their upcoming ‘DystoSoul’ NFT collection for the Syscoin network to commemorate their arrival. The DystoSoul collection is exclusive to the Luxy NFT Marketplace, with whom DystoWorld has just entered into a strategic partnership with. People who previously earned the ‘Syscoin Gold Academy’ NFTs will be able to mint for free, so if that applies to you, make sure you don’t miss it! To learn more about what you need to do, read their announcement on Medium.
Be sure to tune in to the Discord AMA we will be hosting on Friday at 23:00 UTC or 19:00 EST!
Syscoin Represented in Lisbon
Portuguese Financial Literacy YouTuber, Workolic, recently held an event in Lisbon, Portugal, and invited Syscoin Business Developer, João Fernandes, to give a presentation about Syscoin before a captivated audience. Fernades had the following to say about the event:
"I had the opportunity to share and teach Syscoin to several people at an event organized by Workolic, where I was able to address several concepts such as the blockchain trilemma, blockchain modularity, rollups, and the future of Syscoin by offering a sneak peek at SYS Labs. This event hosted several speakers who focused on a range of topics related to finance, including personal finances, financial markets, macroeconomic trends, real estate, crypto & blockchain and more. Events like this play a crucial role in educating people on the latest trends and advancements where finance and technology intersect, making it a great resource and opportunity for people interested in these concepts to learn from experts while also networking with like-minded people."
SupraOracles Praises Syscoin’s Proposition
Since announcing our partnership, Syscoin and SupraOracles have been teaming up to spread the word about the value of Syscoin’s full blockchain tech stack, which is only becoming more capable by the day as we near the release of Rollux on our Layer 2. Our teams have been regularly appearing on Twitter spaces together and some of us even had the opportunity to meet in person at ETHDenver. Oracles play an invaluable role within our design by accurately translating real world information into critical data necessary for an immense number of use cases, and we are proud to have SupraOracles on our side to deliver this functionality.
Last Saturday, SupraOracles detailed the partnership from their perspective, which is worth a two minute read. You can check it on their website by visiting this link.
Funds Are #Safu
If you have been paying attention to current events, you have probably noticed that Satoshi’s reasons for creating Bitcoin as an alternative to legacy finance are as relevant as they were fourteen years ago in the wake of the ‘08 financial crisis. Although the collapse of Silicon Valley Bank is already having pronounced effects on the rest of the market, especially for startups, we would like to inform our community that the Syscoin treasury and funds have been unaffected. Additionally, $SYS does not have any exposure to US treasury bills nor mortgage-backed securities.
Regardless, events like these are a reminder of the value of the work we are doing. People deserve decentralized alternatives that allow them to retain control over their assets without being subjected to the risk-laden behaviors exhibited by institutions we have been forced to trust in spite of their apparent untrustworthiness. Therefore, we continue to build and pursue our vision of a more equitable society that can come by removing barriers to entry and empowering individuals to act responsibly on their own behalf.
Syscoin Remains Ahead of the Game
Over the years, Syscoin has achieved many industry firsts. These include Z-DAG, which made our low-cost UTXO token transactions capable of speeds in excess of 100k TPS (think Bitcoin but easily spendable), and being the first chain to integrate Taproot for enhanced efficiency, flexibility, and privacy. We’re also on the verge of being the first to have a L1 data availability solution once PoDA goes live on Syscoin v4.4 next week, and we’re all looking forward to becoming the first Web3 ecosystem with an Ethereum-compatible L2 rollup that is built atop Bitcoin’s gold standard security once Rollux goes live.
On Monday, Halborn revealed their discovery of a vulnerability while doing contractual work for Dogecoin that affects nearly over 280 Bitcoin-based networks, including Litecoin and Zcash. Syscoin however, was oddly absent, as we had already identified and patched the exploit. It goes to show that keeping on the cutting edge of technology has its perks.