Syscoin Sets Release Date for Version 4.0
Syscoin’s highly anticipated move to what they have dubbed “true blockchain scalability” is set to happen on June 4, 2019. The fourth iteration of the multi-purpose blockchain platform will occur at block number 548662 estimated at 12 PM (Pacific Time). Syscoin 4.0 will significantly increase the scalability and throughput of the network by removing non-value based transactions from the blockchain.
According to them, non-value transactions such as offers, aliases, certificates and escrow are heavy-data transactions and do not need to be on-chain. The new protocol combines Z-DAG with Assets to improve performance and scalability. Masternodes are also incentivized for high throughput relaying transactions.
The fourth iteration of the Syscoin Protocol defines Syscoin’s value proposition by making the main blockchain a high-throughput transactional layer with support for Assets on top. We then use a pioneering first of its kind zero counterparty “bridge”.
The bridge allows Syscoin tokens to exist across other blockchains. Additionally, Syscoin can leverage on the strengths of other blockchains with the tech. The Ethereum blockchain is the first on the bridge list for the execution of smart contracts.
Syscoin has undergone significant iterations since its inception in 2014. Starting with Syscoin 2 which enabled identities, a decentralized marketplace, certificate, encrypted messaging and escrow, they moved to a Hybrid Blockchain Tech with Syscoin 3. Version 3 came with some added features such as assets, zero-confirmation transactions (Z-DAG), masternodes and distributed governance.