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Syscoin, the Layer 1 blockchain bringing Ethereum Virtual Machine (EVM) capabilities to the Bitcoin Network, has announced a strategic partnership with SupraOracles, the world's premier oracle solution. The collaboration between the two companies will offer a platform for building the fastest, most trustworthy and secure Web3 apps.
The partnership between Syscoin and SupraOracles will involve sharing resources to support mutual growth. Syscoin will also benefit from SupraOracles' rapid finality oracle services, while SupraOracles will assist in the implementation of ZKPs (Zero-Knowledge Proofs) for scalability, particularly for Syscoin’s zkEVM, which is fully compliant with current regulations.
Oracles play a vital role in Web3 projects. Developers require oracles to securely connect their decentralized applications to accurate data sources, both from other blockchains and the real world. SupraOracles sets itself apart by providing quicker finality, with response times of 3.5 seconds compared to 120 seconds offered by Chainlink. In addition, the solution is fully decentralized, ultrafast, massively scalable and secure, making it the ideal partner for Syscoin's rollup layers.
"Syscoin is on a quest to create innovative technology that scales the fundamental principles of blockchain to meet the needs of a large global population. We are with them on this journey as a partner and share the same vision," said Joshua D. Tobkin, CEO and Co-founder of SupraOracles.
"We are combining Ethereum's strengths with Nakamoto's original design for Bitcoin. By doing this, we want to open up new possibilities for a decentralized, data-driven society where Web3 benefits everyone. SupraOracles' synchronization with us makes us thrilled," said Jagdeep Sidhu, President and Lead Developer of Syscoin.
Syscoin's roadmap includes the deployment of ZK-Rollups, Optimistic Rollups, Validium, and DAOSYS, a DAO that offers governance-free treasury management and self-sovereignty for all members. By merging mining with Bitcoin and transferring power to the EVM chain to settle payments on Layer-2, Syscoin aims to become the industry's only full blockchain tech stack.
SupraOracles aims to connect traditional capital markets with the Web3 environment. We aim to provide a revolutionary oracle toolset to the developer community, allowing them to easily construct, deploy, and manage data applications with superior performance, robustness, and agility.
SupraOracles wants to solve the oracle conundrum and eventually power the future of finance with the help of our developer community and an increasing number of partners.
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Syscoin is a decentralized and open-source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum in a single coordinated modular platform.
Syscoin is ushering in the next step in the evolution of blockchain technology, providing Bitcoin's proven security and Ethereum's Turing-complete programmability elevated to true scalability via Optimistic, ZK-Rollups, Cross-chain ZK-Rollups and other Layer 2 technologies.
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