
The upgrade combining security of Bitcoin and Ethereum based smart contracts goes live on Syscoin
Syscoinâs novel take on infrastructure is set to combine the best traits of Bitcoin and Ethereum, while leveraging scalability with zk-rollups.

Image by A M Hasan Nasim from Pixabay
Blockchain platform Syscoin (SYS) announced the launch of its Network-Enhanced Virtual Machine (NEVM) upgrade that brings Ethereum Virtual Machine (EVM) smart contracts to the networkâs ecosystem.
According to the announcement, the pivotal upgrade will combine the best of Bitcoin (BTC) and Ethereum (ETH) in one platform, while enabling smart contracts to scale up for global mass adoption.
Bitcoin-secured Layer 1 for EVM smart contracts
With NEVM, Syscoin is set to combine Bitcoin’s security model and merge-mined hashrate potential with Solidity and full EVM compatibility into a single decentralized platform.
Merge-mining, a process that utilizes the same computational power to mine blocks on various blockchains, enables the platformâs Proof of Work (PoW) security to ârecycleâ resources already being spent on Bitcoin.
âSyscoin will utilize the best features of the top two cryptocurrencies, namely Bitcoin and Ethereum. Hence, Syscoin will provide the security offered by Bitcoin while maintaining the programmability of Ethereum,â explained Jagdeep Sidhu, Syscoinâs Lead Core Developer.
During the initial stage, NEVM will run at speeds comparable to other EVMs, but with longer blocktimesâdue to Syscoinâs PoW commitment.
Next stepâ introduce Layer 2 with zk-rollups
Following this initial NEVM mainnet deployment that introduces Layer 1 support for EVM and smart contracts, scaling solutions will be released in the two subsequent steps.
In Q1 2022, zero-knowledge proofs (ZKPs) will be implementedâleveraging true Layer 2 scalability and trustless interoperability.
âScalable applications will be mounted on this system via ZKPs which will introduce our proposed decentralized cost model on Ethereum gas fees,â added Sidhu.
Following the introduction of Layer 2 with zk-rollups, smart contracts will be able to scale up to 210,000 transactions per second (TPS), while the fees will remain minimal.
However, with the implementation of Syscoinâs Validium technology, which is planned for Q3 2022, the platform is projected to achieve four million TPSâ ready to meet the Web3 needs.
According to the announcement, numerous partners have already started onboarding, including NFT marketplace Luxy, DeFi flash loans platform Equalizer, and Gold Standard DAO, a decentralized reserve currency backed by gold, to name a few.