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.
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 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.
