SINGAPORE--(BUSINESS WIRE)--SYS Labs was unveiled by Syscoin Foundation president Jagdeep Sidhu in a keynote speech at the Token2049 event in Singapore. SYS Labs, a Corporation, is focused on driving the global mass adoption of the Syscoin blockchain through research, creation, and promotion of leading-edge Web3 applications and infrastructure aimed to attract and support mass adoption.
”It’s a new era for blockchain. SYS Labs is 100% focused on actualizing a big vision that is finally within reach; Global mass adoption and transformative financial inclusivity worldwide,” said Jagdeep Sidhu, SYS Labs CTO. “Building on top of Syscoin’s new modular stack is one of the necessary keys to unlock this ‘last mile’ achievement. Go-to dapps with mass appeal seemed impossible for blockchain just a short time ago. Recent advancements have changed everything, and more new breakthroughs are close. There are a lot of ways for SYS Labs to capitalize on this. Primarily, we will drive demand to Syscoin where it is served best.”
The combined scalability and security of Syscoin’s new tech like Proof of Data Availability (PoDA) and its Layer 2 rollups suite called Rollux, means there are a lot of new untapped use cases for blockchain that are yet to be discovered. SYS Labs already has several working products and some new ideas they are ready to get started on quickly spanning the metaverse, NFT and gamefi platforms, regulatory-compliant rollups for institutions and enterprises, decentralized identity systems, and state-of-the-art user experiences - all secured in the background by Bitcoin’s network through Syscoin’s merge-mined protocol. SYS Labs refers to this as ‘Web3 with the security of Bitcoin.’
Importantly, the company’s research will extend into other frontiers of decentralized technology. More specifically, the internet of things (IoT), as well as leveraging and supporting zero-knowledge cryptography in new ways. Both are thought to have a lot of positive and disruptive implications for the future - especially considering the potentials for A.I. and smart cities.
While a variety of recent blockchain enterprises have taken off, such as Ava Labs, Starkware and Matter Labs, SYS Labs has perhaps positioned itself advantageously by focusing on a full-stack modular blockchain that is holistically designed to support its own rollup implementations. With many of SYS Labs’ founders originating from the long-established Syscoin project, the company has a solid understanding of its own full-spectrum environment, the blockchain industry as a whole, and how to sustain and feed the roots of a Layer 1 so that value can grow upward.
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Contacts
Breanne Fritcher
syscoin@wachsman.com