As we announced a few weeks ago, we have been planning partnerships with several important projects in the Crypto space. This is part of our efforts to seek closer cooperation with listed projects whenever possible. Today we bring you the first of these partnerships: Syscoin.
Syscoin is a well-established project whose mission is to provide the best possible solutions to the challenges facing blockchain and decentralized ledger technology (DLT). This has led them to implement onto their chain the necessary functionality to allow for web3 applications such as smart contracts. However, one of the main pain points of today’s smart-chains is scalability. StakeCube has already made great progress on this front with StakeCube Protocol (SCP), and we believe that cooperation with Syscoin will be greatly beneficial for both projects.
Probably the most talked-about solution to the scalability issue in smart-chains are ZK-rollups. ZK-rollups are a layer 2 construction that increases scalability through mass transfer processing rolled into a single transaction. For this, Syscoin has come up with a new concept called “Proof of Data Availability” that we will be exploring together. We will release more information about this at a later stage.
Fractional Masternode Ownership
Syscoin is also interested in our solutions to offer the possibility for fractional ownership of masternodes. This is closely related to the masternode farms that are coming with StakeCube Version 3. Masternode farms will allow investors to participate in masternode earnings without the need to own the whole masternode collateral. Not only does this make masternodes more accessible to users, it also ensures that more masternodes are installed and maintained, contributing to the general network security of the blockchain.
The Way Forward
Although these two are the first topics we are developing together, we will continue our research cooperation in the future. For instance, once we release StakeCube Version 3, we will be able to provide Syscoin with an exchange where their users can convert between SYS and WSYS (Syscoin & Wrapped Syscoin on NEVM). This, in addition to a virtual wallet, exchange and masternode farms. There are also interesting ideas to explore involving StakeCube Protocol (SCP)
We are very excited about all the possibilities that this partnership will bring.
If you want to know more about Syscoin, go check out their website:
Follow them on their social media channels:
And read their official announcement of this partnership: