What is Happening?
Syscoin is launching Rollux, the new Optimistic & ZK-Rollups tool that will enable projects operating on the Sys network directly or over a bridge with the scalability capabilities they need to deliver Web3 services at high throughput.
The Rollux is a white glove service whose optimistic roll-ups use modular tech to give Layer 2 capabilities. Layer 2 scaling can be accomplished using optimistic rollups as it improves performance by offloading part of the processing work of the main or layer 1 chain, which leads to faster processing times.
To understand the impact of Rollux, it is better to visualize Web2-like speed and efficiency but with the decentralization and economic viability that Syscoin can provide, owing to the unique combination of Bitcoin and Ethereum architecture. As pioneered by Jag Sidhu, Syscoin's Network-Enhanced Virtual Machine (NEVM) is the first to implement Proof-of-Data Availability (PoDA).
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Jagdeep Sidhu, the Lead Developer at Syscoin, said:
There has recently been renewed interest in the security and scalability aspects of Optimistic roll-ups that have forced us to take another look at this technology even though we strongly believe in ZK-Rollups. One of these reasons is code-base maturity: Optimistic roll-ups are already more mature than ZK because a Zk-EVM is yet to be released and tested in the wild. We also believe that with direct EVM equivalence such as Nitro and Cannon technologies, we can unlock performance and scale that will advance the space and likely give a window of a few years before ZK-Rollups will be as efficient.
What is Syscoin?
Open-source blockchain project Syscoin, launched in 2014, uses the NEVM blockchain to merge the best Cryptocurrencies into a single modular platform.
With Syscoin's rollups and other Layer 2 technologies, ledger technology is moving into the next development phase, bringing together Bitcoin's proven security and Ethereum's Turing-complete programmability. Syscoin's master node service layer offers extra ledger security through chain locks for user projects.
Why Should We Care About Syscoin’s Rollux?
Syscoin NEVM and Rollux provide low-cost and high-performance throughput for smart contracts and interoperability that can be scaled up, while offering strong decentralized settlements and reconciliation capabilities - this ensures a layer one blockchain which has scalable smart contracts.
Syscoin Rollux and NEVM are protected by Bitcoin's own proof-of-work security mechanism through merge-mining. Syscoin Rollux and NEVM can be used in smart cities, IoT Devices, and decentralized applications to create applications that run on a low-cost and modular layer one design.
As the hazards of the experimental security approach "come home to roost," blockchain users and market players appreciate the need for verified security.
Rollux allows the building of zero-knowledge proofs on the NEVM side to provide Turing-complete smart contracts with scalability and trustless interoperability. When using zkRollups and zero-knowledge proofs, contracts on Syscoin would only have to wait a few hours, and these withdrawal delays may be avoided altogether.
Rather than re-running transactions, smart contracts may give succinct proofs of one-time executions, which can be verified in parallel, to support an unbounded number of transactions due to Sys Rollux and NEVM.
How Do Rollux Impact Layer 2 Decentralized Applications?
The Rollux innovation by Syscoin is critical for scaling layer 2 applications, as rollux allows for scaling of smart contracts as Layer 1 consensus is achieved by the use of rollups, which undertake transaction execution outside of layer 1.
The modular nature of the layer one blockchain allows for trustless cross-chain interoperability which enables easier integration with a wide range of blockchains at far lower costs and technological overhead making it easy for web3 developers to create applications that can be connected to other blockchains such as Tezos, Polkadot and Solana etc.
According to Jag Sidhu, as a result of optimistic rollups implemented through Rollux, the blockchain may grow by a factor of 50 or more, reducing the possibility of censorship. All transactions can theoretically be processed and executed by blockchain nodes if they were rolled up because nodes can only do a specific number of calculations per second before they can no longer keep up with the network, this would reduce the congestion.
If these transactions are represented as rollups, the checks are significantly easier. As a result, if the Ethereum ecosystem's software (parity/geth) decides to boost the network's processing capacity at any point, the transactions might theoretically be completed in parallel.
Validity proofs using Rollups are used to establish that smart contracts were performed successfully without the need for external consensus. To put it another way, data storage and availability requirements for protocols are more flexible as compared to current blockchain systems.
Due to this Rollux makes it easy for layer 2 decentralized applications to have a high throughput rate, with a high rate of scalability, security and flexibility.
To build decentralized applications for the future, it is critical to have a layer one blockchain which is scalable with high security and low transaction costs.
Final Thoughts on Syscoin Rollux Release
I believe that new technological innovation in layer one blockchain architecture and infrastructure pushes forward the competition between blockchains to provide an ecosystem for building applications that are flexible, scalable, and secure in nature.
Syscoin’s rollux release is a technological innovation that tries to approach the problems faced by blockchains, such as scalability, security, and decentralization by combining the advantages of optimistic rollups, ZK-rollups, and off-chain settlement with a cross mining mechanism that is based on both Bitcoin and Ethereum.
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Image credits: Syscoin, Shubham Dhage, and Pierre Borthiry.