<\/p>\n
SYS Labs, the team behind Ethereum layer-2 Rollux, has introduced a suite of new products to improve interoperability and general DeFi activity in its hybrid Bitcoin-and Ethereum consensus ecosystem.<\/p>\n
Rollux currently has a total value locked (TVL) of $560,381 with almost all of this volume coming from decentralized exchange PegaSys v3, according to data from DeFiLlama.<\/p>\n
This next phase of Rollux will ideally bring in more DeFi activity onto the network. The team will welcome new DeFi applications including Chainge, a new cross-chain DEX; Agave, a DeFi lending protocol; and liquidity protocol Gamma, just to name a few. SYS Labs will also be integrating with LayerSwap, a cross-chain bridge<\/a>, which will enable transfers between centralized exchanges and DeFi protocols.<\/p>\n A press release from Oct. 18 introduced the new protocols, but per DeFiLlama, only Gamma has gone live as of Friday.\u00a0<\/p>\n Despite being an Ethereum<\/a> layer-2, Rollux is designed to utilize Bitcoin\u2019s proof-of-work (PoW<\/a>) for security and scalability.<\/p>\n Read More:<\/strong> L2s rooted in Bitcoin\u2019s PoW could bring global scalability to blockchain\u2019s core values<\/a><\/p>\n Bradley Stephenson of the Syscoin Foundation told Blockworks that through leveraging Syscoin, Rollux is able to inherit PoW derived from Bitcoin miners whilst having proof-of-stake (PoS<\/a>) finality.\u00a0<\/p>\n \u201cThere is a large contingent of blockchain users that prefer PoW-based systems over PoS for a variety of reasons like resilience against black swan events,\u201d Stephenson said.\u00a0<\/p>\n Stephenson added that the PoW and PoS debate is as much a philosophical one as it is a technical one.<\/p>\n \u201cSimply put, we do not believe it was necessary for Ethereum to pursue PoS, when they could have simply shared Bitcoin\u2019s PoW via merged mining without taxing any additional resources for mining,\u201d he said.<\/p>\n Read more:<\/strong> Proof-of-work vs. proof-of-stake: Which is better?<\/a><\/p>\n Syscoin itself also introduces a protocol called proof of data availability (PoDA), which is designed to provide layer-1 security to the network.\u00a0<\/p>\n The PoDA protocol resides on Syscoin\u2019s merge-mined layer-1<\/a> chain, Stephenson explained. Despite similarities between PoDA and Ethereum\u2019s approach to proto-danksharding, there are some major differences.<\/p>\n \u201cWith PoDA, the succinct proof of the raw data is stored on-chain, while the raw data in its entirety is archived off-chain by any and all nodes that choose to perform that service,\u201d Stephenson said. \u201cThis means Syscoin can prune raw data from the mempool relatively frequently, and succinct proofs means nodes can stay lightweight, which fosters decentralization.\u201d<\/p>\n Don\u2019t miss the next big story \u2013 join our\u00a0free daily newsletter<\/a>.<\/strong><\/p>\n
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