Various projects are working hard behind the scenes, yet hardly gain recognition. Among the many cryptocurrency ventures, Syscoin should be more appreciated than it is today. A few interesting developments have taken place lately, which help bolster the ecosystem further.
For the Syscoin Foundation, spreading the word about the native technology is a top priority. Forging partnerships is crucial to keep advancing the ecosystem as a whole. One such partnership has now been forged with the Corion Platform Foundation. A very interesting choice, considering how this partner isn’t exactly well-known.
Announcement: 📢 @Syscoin & @CorionPlatform Foundations have partnered in our mission to drive adoption of #stablecoins, and achieve a vision of swift, secure, low-cost #openfinance solutions. #MoneyInTheRightDirection! Learn more 👉 https://t.co/SiAE7GfNll$SYS #fintech pic.twitter.com/bG518wZl6R
— Syscoin (@syscoin) August 13, 2020
Because of this partnership, it may be a matter of time until stablecoins become more prominent on the Syscoin network. That would certainly be an interesting development, considering how stablecoins play an increasing role of importance in the industry. More competition can be beneficial overall, especially if more blockchains get involved.
Updated Mobile Wallet
Mobile devices will play a crucial role in the future of cryptocurrency industry. The more mobile wallets there are for currencies like Syscoin, the broader its future adoption can reach. With the help of Blockchain Foundry, an updated version of the mobile AGXPay wallet has been released. A positive development overall.
Beatzcoin Claims a Bounty
For quite some time now, there is a bounty program associated with the Syscoin bridge. Exploring this new opportunity to move liquidity between Syscoin and Ethereum can unlock a lot of use cases. Beatzcoin is the most recent project to correctly claim the bounty reward associated with the first-tier process.
What is even more interesting is how the team is pleased with the results. On Twitter, they seem impressed with the advantage this interoperable bridge solution provides to the cryptocurrency ecosystem. Completing this process nets the Beatzcoin team 35,000 SYS and a valuable experience.
DAI on the Syscoin Bridge
Speaking of Syscoin’s interoperable bridge, it may pave the way for DAI support. The popular Ethereum-based stablecoin is now part of this initiative. All existing DAI holders can move their assets over the bridge to Syscoin and benefit from a 99% reduction in overall transaction fees. Given Ethereum’s current fees, that is no unnecessary luxury either.
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