Syscoin NEVM Update Completed, Paves Way for Smart Contract Execution & Scalable, Low-Cost Tools for Defi, NFTs & Metaverse
Blockchain Foundry Inc. (CSE: BCFN), a prominent North American blockchain development business, has announced that it has successfully completed the eagerly awaited Syscoin NEVM update in collaboration with the Syscoin Foundation (version 4.3.0).
Blockchain Foundry creates and commercializes blockchain-based firms and consumer products, with an emphasis on digital asset facilities and NFTs. BCF also offers blockchain consultancy to business customers.
Syscoin’s new network enhanced virtual machine (NEVM) adds to the protocol a compute engine capable of developing and executing smart contracts. Developers may use smart contracts to create decentralized apps, decentralized financial applications, non-fungible coins, metaverse ecosystems, and more.
On December 6, 2021, block 1,317,500 received an upgrade. Syscoin’s NEVM, which is designed to scale to smart cities and beyond, integrates Ethereum’s smart contract capability with Syscoin’s current revolutionary features. These include regulatory compliance for digital assets, unrivalled low-cost fees, and rapid, ultra-secure transactions designed to expand to millions of concurrent users.
These features address many of the issues that have plagued projects on other smart contract platforms by offering low-cost, scalable, and compliant tools for DeFi, NFTs, Metaverse, and Web3 apps without sacrificing security or decentralization. In April 2021, BCF invested C$1 million in Syscoin tokens and now owns about 6.6 million Syscoin tokens.
“Through the innovative usage of zkRollups, Syscoin will herald in scalable smart contracts with a focus on decentralization.”
Syscoin’s accomplishments are unrivaled, given that it has the most computational power after Bitcoin and has already incorporated on-chain regulatory compliance tools. We’re excited to add NEVM to Syscoin’s network, which will open up a world of possibilities beyond stablecoins.
At Blockchain Foundry, we are hopeful about the prospects of blockchain technology and the advantages it can provide to millions of people worldwide. Syscoin is a blockchain technology implementation built for real-world application at scale, with the goal of matching or outperforming both controlled and decentralized competition.
“We will keep supporting Syscoin’s development and reinvest in the protocol in the future,” stated Jag Sidhu, the Company’s CTO and Syscoin Core creator.