TORONTO Blockchain Foundry Inc. (BCF), in conjunction with the Syscoin Foundation, has deployed Syscoin LUX, an open‐source blockchain protocol that underpins many of BCF’s proprietary development efforts, and offers fast, highly scalable, and low‐cost blockchain infrastructure for a wide variety of applications.
Syscoin LUX, the latest version of the Syscoin Blockchain, introduces a range of new features which make Syscoin one of the best and most future‐proof decentralized platforms for fungible and non‐fungible tokens, payments, and non‐custodial, rules‐based compliance.
Among other innovations, Syscoin LUX brings the following cutting‐edge features to life:
NFTs: Syscoin LUX introduces a Non‐Fungible Token (NFT) platform like no other. NFTs generated on the Syscoin network are scalable, low‐cost, divisible and non‐divisible. Because Syscoin is merge‐mined with Bitcoin, creating and using NFTs on the Syscoin platform does not introduce any additional carbon footprint.
Syscoin Notary: Syscoin Notary provides the building blocks to enable Syscoin Platform Token (SPT) projects to be compliant with specific payment rules which can be encoded directly into the blockchain. This provides the foundation to build compliant payment solutions which restrict certain transactions based on specific rules.
Auxiliary fees (AUX fees): Enables SPT projects the ability to charge specific custom fees.
UTXO Assets: Scalable crypto payments, UTXO assets opens the doors to faster adoption of payment channel mechanisms.
“Blockchain Foundry focuses on creating innovative business and consumer solutions using the unique infrastructure provided by Syscoin and other public and private blockchain protocols. With Syscoin LUX, we have an amazing platform to develop a wide range of cutting‐edge solutions including NFT applications and compliant, rules‐based payment systems using Syscoin Notary,” said Dan Wasyluk, CEO of BCF.
Commenting further, Mr. Wasyluk added, “We are very excited about the future of Syscoin and plan to leverage this technology in our work at Blockchain Foundry. BCF owns approximately 6.4 million Syscoin tokens, allowing our shareholders to participate in the growth and success of the Syscoin ecosystem.”
Blockchain Foundry develops and commercializes blockchain‐based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses.