Sys Labs, the innovative minds behind the Syscoin blockchain, has pulled back the curtain on a game-changing "Layer 2" network known as Rollux. This launch promises to revolutionize blockchain transactions by delivering them faster and at a lower cost, all while capitalizing on the security of Bitcoin miners via Syscoin blockchain's "merged mining."
The Syscoin blockchain has carved its niche by combining the programmability of Ethereum with the unwavering security of Bitcoin. Rollux, like its parent Syscoin blockchain, is compatible with the Ethereum Virtual Machine (EVM) – the core software that executes smart contracts on Ethereum. Rollux inherits its security prowess from Bitcoin miners, thanks to the principle of merged mining – a concept introduced by none other than Bitcoin inventor Satoshi Nakamoto back in 2010.
Layer 2 networks, or "rollups" over Ethereum, are well-known for their ability to accelerate transactions. In the same vein, Rollux can process an impressive 700 transactions per second under basic transfer conditions. This is a stark contrast to the base Syscoin layer's three to five transactions per second, as noted by Sys Labs CEO, Jagdeep Sidhu.
"Merged mining is a way to provide another system to open the doors to scale into a rollup," Sidhu commented during an interview, adding that this groundbreaking project has been eight years in the making. Rollux's launch stands as a significant milestone in the journey towards a scalable, secure, and efficient blockchain ecosystem.
