A scalable protocol for assets and fast payments has partnered with a stablecoin platform to speed up and reduce the costs of transacting by providing trustless interoperability with Ethereum. Syscoin is known as "the blockchain platform for real money, assets, and blazing-fast token payments that scale."
The partnership means that TrustToken’s five stablecoins — TUSD, TGBP, THKD, TCAD, TAUD — will bridge to Syscoin and run on its blockchain.
With stablecoins more popular than ever in part due to the explosion of DeFi, but issues with Ethereum, many platforms are stepping in to help with scaling.
Syscoin is one of those platforms.
An open-source blockchain project backed by Bitcoin’s security model, Syscoin was originally created for e-commerce platforms. Using Zero Confirmation Directed Acyclic Graph (Z-DAG), it is able to settle transactions in less than 10 seconds with low fees, even as blocks become full.
The project also boasts merge mining, which gives users the ability to mine two cryptocurrencies at the same time, such as SYS and BTC.
What does TrustToken do?
TrustToken is a platform that wants to make an open financial system available to all with a selection of stablecoins. Its six stablecoins are the world’s first and only independently live-attested, fully collateralized stablecoins.
It has partnered with the likes of Chainlink (the biggest DeFi project by market cap) and NEAR Protocol.
How Does this Partnership Affect Crypto?
Stablecoins need scalable platforms to run on. That’s where Syscoin comes in. With Ethereum's limitations obvious — high fees, vulnerability to hacks, impaired speed — platforms like Syscoin can do a whole lot of good.
This partnership will create a solution for secure token payments at scale and low-risk interoperability with Ethereum.
This will make the TrustToken’s stablecoins function quicker and cheaper following the bridge.
Jag Sidhu, Syscoin Foundation Chairman and lead core developer, said:
"Digital assets have growing needs for better usability, robust decentralized security, and a scalable way of ensuring every transaction complies with regulations.
Syscoin uniquely aligns with all of these requirements. We look forward to TrustToken’s family of stablecoins becoming future-proof and gaining significant advantage with Syscoin."