Sys Labs, the creator of the Syscoin blockchain, which seeks to merge Ethereum-like programmability with Bitcoin’s security, has introduced a “layer 2” network named Rollux to facilitate more affordable and rapid transactions.
Similar to the primary Syscoin blockchain, the Rollux network is compatible with the Ethereum Virtual Machine or EVM, the system that executes smart contracts on Ethereum. The initiative obtains its security through Bitcoin miners via a method called merged mining, which was initially introduced by Bitcoin creator Satoshi Nakamoto in 2010.
Just as layer 2 networks or “rollups” built atop the Ethereum blockchain enable accelerated transactions, the Rollux network is capable of handling 700 transactions per second for basic transfers, compared to only three to five per second on the core Syscoin layer, as stated by Sys Labs CEO Jagdeep Sidhu.
“Merged mining serves as a method to create another system that allows for scaling into a rollup,” Sidhu mentioned during an interview. He indicated that the project has been in development for eight years.
Rollups such as Optimism, Arbitrum, and zkSync have proliferated on the Ethereum network, infamous for its occasionally outrageous fees, as a strategy to circumvent congestion. Bitcoin (BTC) is the first and largest blockchain, recognized for its security, yet it lacks Ethereum’s programmability through smart contracts.
https://www.coindesk.com/tech/2023/06/28/syscoin-developer-launches-ethereum-compatible-layer-2-network-secured-by-bitcoin-miners/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
