Sys Labs, the developer behind the Syscoin blockchain, which aims to combine Ethereum-style programmability with the security of Bitcoin, has launched a “layer 2” network called Rollux for cheaper and faster transactions.
Like the main Syscoin blockchain, the Rollux network is compatible with the Ethereum Virtual Machine or EVM, the software that runs smart contracts on Ethereum. The project obtains its security from Bitcoin miners through a process known as merge mining which was initially introduced by Bitcoin inventor Satoshi Nakamoto in 2010.
Just as the Layer 2 networks or “rollups” at the top of the Ethereum blockchain enable faster transactions, the Rollux network can process 700 transactions per second assuming base transfer, compared to three to five per second on the base layer. Syscoin, according to Jagdeep Sidhu, CEO of Sys Labs. .
“Merged mining is a way to provide another system to open the doors to moving towards cumulation,” Sidhu said in an interview. He said the project had been in the works for eight years.
Rollups like Optimism, Arbitrum and zkSync have risen to the top of Ethereum, known for its sometimes exorbitant fees, to avoid congestion. Bitcoin (BTC) is the original and largest blockchain and is considered the most secure, but lacks the programmability of Ethereum through smart contracts.
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