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Syscoin, the only scalable layer 1 blockchain with Ethereum virtual machine (EVM) capabilities, plans to launch a demo Zero-knowledge crosschain bridge (ZKCross) by September. Bridges are expected to work on the principle of facilitating decentralized replacement of crosschains, lowering prices and at the same time preventing abuse of the bridge.
This year alone, hackers have been able to escape more than $ 1 billion, creating tensions among investors. Over the years, cross-chain bridges have used multi-party computation (MPC) or multi-signature to authenticate transactions. This is why it encourages rampant cross-chain bridge attacks.
Syscoin’s ZK Cross Bridge operates an off-chain automated market maker (AMM) mechanism, giving investors peace of mind. This mechanism suppresses all exploitable consensus protocols and manages transactions and liquidity across multiple chains.
During the transaction, zero-knowledge proofs, fast and private data authentication are used to ensure accuracy before the transaction is compressed and rolled up to the Syscoin base layer.
According to Syscoin, bridge technology supports economies of scale. However, when the AMM goes offline, the user will have to go back to the base layer.
Jagdeep Sidhu, lead developer of Syscoin, said:
“If it’s not this bridge, someone else has released a zero-knowledge bridge and that’s the bridge solution everyone is using. I really think this is where things are heading.”
Zero-knowledge bridging is cost-effective for the user, as the only cost the user incurs is the cost of the CPU. However, zero-knowledge techniques have limitations, the main one being the lack of decentralization.
Sido said:
“Currently, all rollups are centralized. We will start with a centralized sequencer, but the goal is to create a decentralized sequencer in the future.”
Syscoin, on the other hand, is optimistic about creating zero-knowledge Ethereum virtual machines (EVMs). This is the best proof system for Ethereum smart contracts like the zkEVM protocol launched by Polygon. What’s more, Sidhu believes that no one in the crypto industry has ever created a “proper EVM”, but said that all protocols will eventually join the space.
Syscoin, the only scalable layer 1 blockchain with Ethereum virtual machine (EVM) capabilities, plans to launch a demo Zero-knowledge crosschain bridge (ZKCross) by September. Bridges are expected to work on the principle of facilitating decentralized replacement of crosschains, lowering prices and at the same time preventing abuse of the bridge.
This year alone, hackers have been able to escape more than $ 1 billion, creating tensions among investors. Over the years, cross-chain bridges have used multi-party computation (MPC) or multi-signature to authenticate transactions. This is why it encourages rampant cross-chain bridge attacks.
Syscoin’s ZK Cross Bridge operates an off-chain automated market maker (AMM) mechanism, giving investors peace of mind. This mechanism suppresses all exploitable consensus protocols and manages transactions and liquidity across multiple chains.
During the transaction, zero-knowledge proofs, fast and private data authentication are used to ensure accuracy before the transaction is compressed and rolled up to the Syscoin base layer.
According to Syscoin, bridge technology supports economies of scale. However, when the AMM goes offline, the user will have to go back to the base layer.
Jagdeep Sidhu, lead developer of Syscoin, said:
“If it’s not this bridge, someone else has released a zero-knowledge bridge and that’s the bridge solution everyone is using. I really think this is where things are heading.”
Zero-knowledge bridging is cost-effective for the user, as the only cost the user incurs is the cost of the CPU. However, zero-knowledge techniques have limitations, the main one being the lack of decentralization.
Sido said:
“Currently, all rollups are centralized. We will start with a centralized sequencer, but the goal is to create a decentralized sequencer in the future.”
Syscoin, on the other hand, is optimistic about creating zero-knowledge Ethereum virtual machines (EVMs). This is the best proof system for Ethereum smart contracts like the zkEVM protocol launched by Polygon. What’s more, Sidhu believes that no one in the crypto industry has ever created a “proper EVM”, but said that all protocols will eventually join the space.
Syscoin, the only scalable layer 1 blockchain with Ethereum virtual machine (EVM) capabilities, plans to launch a demo Zero-knowledge crosschain bridge (ZKCross) by September. Bridges are expected to work on the principle of facilitating decentralized replacement of crosschains, lowering prices and at the same time preventing abuse of the bridge.
This year alone, hackers have been able to escape more than $ 1 billion, creating tensions among investors. Over the years, cross-chain bridges have used multi-party computation (MPC) or multi-signature to authenticate transactions. This is why it encourages rampant cross-chain bridge attacks.
Syscoin’s ZK Cross Bridge operates an off-chain automated market maker (AMM) mechanism, giving investors peace of mind. This mechanism suppresses all exploitable consensus protocols and manages transactions and liquidity across multiple chains.
During the transaction, zero-knowledge proofs, fast and private data authentication are used to ensure accuracy before the transaction is compressed and rolled up to the Syscoin base layer.
According to Syscoin, bridge technology supports economies of scale. However, when the AMM goes offline, the user will have to go back to the base layer.
Jagdeep Sidhu, lead developer of Syscoin, said:
“If it’s not this bridge, someone else has released a zero-knowledge bridge and that’s the bridge solution everyone is using. I really think this is where things are heading.”
Zero-knowledge bridging is cost-effective for the user, as the only cost the user incurs is the cost of the CPU. However, zero-knowledge techniques have limitations, the main one being the lack of decentralization.
Sido said:
“Currently, all rollups are centralized. We will start with a centralized sequencer, but the goal is to create a decentralized sequencer in the future.”
Syscoin, on the other hand, is optimistic about creating zero-knowledge Ethereum virtual machines (EVMs). This is the best proof system for Ethereum smart contracts like the zkEVM protocol launched by Polygon. What’s more, Sidhu believes that no one in the crypto industry has ever created a “proper EVM”, but said that all protocols will eventually join the space.
Syscoin, the only scalable layer 1 blockchain with Ethereum virtual machine (EVM) capabilities, plans to launch a demo Zero-knowledge crosschain bridge (ZKCross) by September. Bridges are expected to work on the principle of facilitating decentralized replacement of crosschains, lowering prices and at the same time preventing abuse of the bridge.
This year alone, hackers have been able to escape more than $ 1 billion, creating tensions among investors. Over the years, cross-chain bridges have used multi-party computation (MPC) or multi-signature to authenticate transactions. This is why it encourages rampant cross-chain bridge attacks.
Syscoin’s ZK Cross Bridge operates an off-chain automated market maker (AMM) mechanism, giving investors peace of mind. This mechanism suppresses all exploitable consensus protocols and manages transactions and liquidity across multiple chains.
During the transaction, zero-knowledge proofs, fast and private data authentication are used to ensure accuracy before the transaction is compressed and rolled up to the Syscoin base layer.
According to Syscoin, bridge technology supports economies of scale. However, when the AMM goes offline, the user will have to go back to the base layer.
Jagdeep Sidhu, lead developer of Syscoin, said:
“If it’s not this bridge, someone else has released a zero-knowledge bridge and that’s the bridge solution everyone is using. I really think this is where things are heading.”
Zero-knowledge bridging is cost-effective for the user, as the only cost the user incurs is the cost of the CPU. However, zero-knowledge techniques have limitations, the main one being the lack of decentralization.
Sido said:
“Currently, all rollups are centralized. We will start with a centralized sequencer, but the goal is to create a decentralized sequencer in the future.”
Syscoin, on the other hand, is optimistic about creating zero-knowledge Ethereum virtual machines (EVMs). This is the best proof system for Ethereum smart contracts like the zkEVM protocol launched by Polygon. What’s more, Sidhu believes that no one in the crypto industry has ever created a “proper EVM”, but said that all protocols will eventually join the space.
