Rollux Weekly Update 2023.11.29

Weekly Video: Rollux and PoW: Powering the Optimal EVM L2

In the featured video, "Rollux and PoW: Powering the Optimal EVM L2," viewers are introduced to Rollux, a standout EVM Layer 2 solution powered by Syscoin. The video highlights Rollux's integration of rollup speed, affordability, and scalability, all underpinned by the robust security of Bitcoin’s Proof-of-Work (PoW). It emphasizes PoW's proven security benefits, positioning Rollux as an optimal choice for decentralized applications. The presentation showcases how Rollux is not just enhancing EVM performance but also redefining the standards for Layer 2 solutions with unmatched security, speed, and cost efficiency.

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The Evolution of Blockchain Security: Insights from Jagdeep Sidhu

Jagdeep Sidhu, Lead Core Developer of Syscoin & CEO of SYS Labs, recently shared valuable insights on the security and future of blockchain technology. He emphasizes the significance of Bitcoin and Syscoin, banking on the assumption that P != NP and the security of one-way hashes post-singularity. Sidhu firmly believes in the necessity of financial governance over Artificial General Intelligence (AGI) and views cryptocurrencies developed without this foresight as dead on arrival.

In a notable development, Binance has integrated chainlocks checks for Syscoin, enhancing its security. This integration makes Syscoin one of the most secure platforms for exchange integration, effectively neutralizing potential miner-led attacks or censorship attempts. The chainlocks mechanism ensures miner honesty and makes reorganizing the Syscoin blockchain nearly impossible, even surpassing Bitcoin in this aspect.

Sidhu also compares Bitcoin and Syscoin to foundational figures in game theory and computing: Nash and Turing. He suggests that while Bitcoin serves as a standard of value, Syscoin's unique characteristics, like Data Availability, modular EVMs, and safe finality, make it indispensable for utility in the blockchain ecosystem.

Responding to Richard Heart's concerns about potential 51% attacks on Bitcoin, Sidhu clarifies that miners can switch pools to mitigate such risks. He argues that the game theory behind Bitcoin's design makes such attacks unattractive and unfeasible. Furthermore, Sidhu asserts that Proof-of-Work (PoW) is a natural evolution from Proof-of-Stake (PoS), inherently more robust and suited to underpin the pyramid of value in blockchain technology.

Enhancing Syscoin Development with GetBlock Tools

GetBlock has spotlighted a suite of essential tools for developers on the Syscoin blockchain, streamlining the development process. Key offerings include:

• Syscoin Core: The primary gateway for blockchain interactions, available on GitHub.
• Efficient APIs: For asset management and queries, detailed at Syscoin's API documentation.
• Multi-Language SDKs: Facilitating easier development across various programming languages.

Additionally, GetBlock recommends development frameworks like Truffle for smart contract deployment, Hardhat for an advanced Ethereum development environment, and Remix for quick contract creation. For those needing a Syscoin node without the hassle of setup and maintenance, GetBlock offers shared or dedicated nodes, accessible here.

These tools collectively enhance the Syscoin development experience, making it more accessible and efficient for developers of all levels.

Syscoin's Hashrate Climbs, Reflecting Miner Confidence

As of November 27, 2023, Syscoin's hash rate has shown a remarkable growth trend, now reaching approximately 55% of Bitcoin's total hash rate. This significant increase, with the current Syscoin hash rate at 290 EH/s, is a testament to the growing confidence miners have in the Syscoin network. The steady rise in hash rate not only underscores the network's security and stability but also highlights Syscoin's growing importance in the blockchain ecosystem. This merge mining capability with Bitcoin further solidifies Syscoin's position as a robust and reliable platform in the world of decentralized technologies. It’s worth noting that hashrate fluctuates, and Syscoin/Rollux currently share more than 60% of Bitcoin’s hashrate.

Syscoin, Present and Future: Insights from an Impromptu Monday Space

In an unexpected yet enlightening Syscoin Space, key team members Jagdeep Sidhu, Bradley Stephenson, and Derek Gibson, along with community participants, shared insights on Syscoin's journey and future. Bradley highlighted the achievement of a new hashrate milestone, reflecting the team's dedication and progress, exemplified by going into details about some of the upcoming consumer-focused “champion use cases” featured in SuperDapp. Jag discussed the team's unique composition of passionate community members, emphasizing their genuine belief in blockchain's potential. He also delved into the implications of Artificial General Intelligence (AGI) on crypto, offering a glimpse into the future of technology and its intersection with decentralized systems. This impromptu session underscored Syscoin's commitment to innovation and community-driven development.

Innovations in Blockchain: Highlights from Devconnect Istanbul

SYS Labs recently shared two captivating videos from its side event, Ethereum's Orbit, which took place during Devconnect Istanbul, each offering a unique perspective on blockchain's future. The first video, "Cross-Chain Messaging," features a panel with experts from SupraOracles, Axelar Network, and others, discussing the advancements in interoperability and its significance for Web3. The second, "Economies of Scale through Parallel Verification," includes insights from The Blockless and RISC Zero, focusing on scalable solutions for mainstream blockchain adoption. These discussions, integral to Syscoin's vision, provide a deep dive into the technologies shaping the decentralized world. Viewers interested in the cutting-edge of blockchain will find these sessions both informative and inspiring.

Exploring SuperDapp's Innovative Features

Discover the innovative blend of AI, Web3, and social networking in SuperDapp's latest commercial. This concise 1:20 video highlights the key features of SuperDapp, showcasing its capabilities in revolutionizing digital interactions and SocialFi. A quick watch for anyone interested in the future of social connections enhanced by cutting-edge technology.

Rollux's Exciting $SYS Giveaways

Rollux is currently hosting several enticing SYS giveaways, offering participants the chance to win substantial rewards. The first giveaway features a 10k SYS pool directly from Rollux, while the second, in collaboration with Layerswap, includes a grand prize of 1 ETH and a 10k SYS pool. Lastly, Coinify's giveaway ups the ante with a grand prize of 10k SYS and a total pool of 20k SYS. These giveaways present a fantastic opportunity for enthusiasts to engage with the Rollux ecosystem and potentially win big. For details and participation, visit the respective links provided.

Maximize Your DeFi Returns with Pegasys on Rollux

Rollux is currently showcasing impressive Annual Percentage Rates (APR) in the DeFi space, particularly through Pegasys (Official DEX of the Syscoin Rollux Ecosystem) in collaboration with Gamma Strategies. This opportunity is a call to action for DeFi enthusiasts to dive into the Rollux ecosystem and explore its decentralized exchange (DEX). Additionally, Rollux facilitates seamless cross-chain interactions with bridges like Chainge Finance and Layerswap, alongside the canonical bridge connecting Syscoin NEVM and Rollux. To start maximizing your DeFi potential, visit the Rollux bridge and discover the lucrative liquidity pools available.

Explore the Blossoming Ecosystem of Rollux

Syscoin invites you to delve into the rapidly expanding ecosystem of Rollux L2, a platform mirroring Ethereum's EVM capabilities. This burgeoning environment is teeming with native applications and protocols, offering a diverse range of services and opportunities. Key players include Luxy, Pegasys, GoRollux, SuperDapp, WEconomy, NFTs2Me, Syscoin Domains (rollux.id), and KarusStarter. Each of these entities contributes to the vibrant and innovative landscape of Rollux, making it an exciting space for users and developers alike. To discover the full potential of this ecosystem, visit Rollux's Ecosystem and immerse yourself in a world of cutting-edge blockchain technology.

Thanksgiving Wishes from Rollux and Syscoin

As Thanksgiving rolls around, Rollux and Syscoin extend their warmest wishes to friends in the US and around the world. Rollux expresses gratitude for its vibrant global community, whose support and enthusiasm continually inspire. Syscoin echoes this sentiment, celebrating the promise of decentralized technology and its role in shaping a brighter future. Together, they embrace the spirit of the holiday, emphasizing unity, innovation, and the shared journey towards a more connected and decentralized world.

Join Our Discord Communities Today!

The best way to stay updated, get involved, and maximize your benefits from this groundbreaking phase is to join our vibrant Discord communities.

🚀 Rollux Discord: This is the heart of all things Rollux. Get real-time updates, engage with the team, and be the first to know about new features, partnerships, and giveaways.

🌐 Syscoin Discord: Syscoin is the backbone of Rollux, and their Discord community is a treasure trove of insights and opportunities. Learn more about how Syscoin's technology powers Rollux and what it means for the future of DeFi.

👾 Luxy Discord: Luxy is taking NFTs to the next level, especially with the recent migration to Rollux. Join the Luxy Discord to stay ahead of exclusive NFT drops, farming opportunities, and more.

🎠 Pegasys Discord: As our DEX, Pegasys is a crucial part of the Rollux ecosystem. Join their Discord to learn about upcoming farming expansions, staking rewards, and liquidity incentives.

🤖 SuperDapp Discord: SuperDapp is SYS Labs’ killer dapp built to take full advantage of the intersection between Web3 and AI, centered around a social experience you won’t find anywhere else!

By joining these communities, you're not just observing—you're participating in the future of DeFi. So what are you waiting for? Click those links, hit 'Join,' and let's build the future together!

See you there!