TORONTO, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to announce that, in conjunction with the Syscoin Foundation, it has successfully deployed the highly anticipated Syscoin NEVM upgrade (version 4.3.0).
Syscoin’s new network enhanced virtual machine (“NEVM”) introduces a computation engine to the protocol, capable of creating and executing smart contracts. Smart contracts enable developers with the ability to program decentralized applications (“dApps”), decentralized finance (“DeFi”) applications, non-fungible tokens (“NFTs”), metaverse ecosystems, and more. The upgrade took place on block 1,317,500 on December 6, 2021.
Designed to scale to smart cities and beyond, Syscoin’s NEVM combines Ethereum’s smart contract functionality with Syscoin’s existing innovative features. These include regulatory compliance capabilities for digital assets, unmatched low-cost fees, and fast, ultra-secure transactions built to scale to millions of concurrent users. These capabilities solve many pain points experienced by projects on other smart contract platforms, providing low-cost, scalable, and compliant tooling for DeFi, NFTs, Metaverse, and Web3 applications without compromising security and decentralization.
BCF invested C$1 million in Syscoin tokens in April 2021 and currently holds approximately 6.6 million Syscoin tokens.
“Through the novel use of zkRollups, Syscoin will usher in scalable smart contracts with decentralization in mind. Considering Syscoin has the highest computing power after Bitcoin and has already implemented on-chain regulatory compliance tools, its achievements are unmatched. We’re thrilled to bring NEVM to Syscoin’s network, which will open the door to many more possibilities beyond stablecoins. At Blockchain Foundry, we believe in the future of blockchain technology and the benefits it can bring to millions of users around the globe. Syscoin is an implementation of blockchain technology developed for real-world use at scale, designed to match or outperform both centralized and decentralized competitors. We will continue to support Syscoin’s development and re-invest in the protocol going forward,” said Jag Sidhu, CTO of the Company and Syscoin Core developer.
About Blockchain Foundry Inc.
Blockchain Foundry develops and commercializes blockchain-based business and consumer solutions, with a focus on infrastructure for digital assets and NFTs. BCF also provides blockchain consulting services to corporate clients.
Blockchain Foundry Contact Information:
Sebastien DiMichele
Marketing Director
(647) 792-8782
sdimichele@blockchainfoundry.com
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