Syscoin is Witnet’s 21st chain integration, the most of any oracle. Witnet has gone live on the incredibly interesting and secure Syscoin mainnet. In addition,Syscoin is a really interesting rollup solution built using the security of Bitcoin and the compatibility of the Ethereum Virtual Machine. Syscoin has a UTXO model akin to both Bitcoin and Witnet, making the blockchain secure and accurate at all times.

Through the use of “merge mining” Syscoin is able to utilize the hash power of miners on the Bitcoin network. At this moment, 20% of the hash power on the Bitcoin network is also use to mine Syscoin at no extra cost. This is because Syscoin blocks grow parallel to the Bitcoin network, so if a miner wins a block on Bitcoin they win it on Syscoin too.

Furthermore, Syscoin is an optimistic rollup network that utilizes the Syscoin NEVM as its execution layer. Transactions that happen on the execution layer are posted to the ultra-secure and decentralized settlement layer periodically. In order to reorder the Syscoin network, one would need to control the Bitcoin network, as the transaction proofs would coincide.

Why this integration matters

Witnet is going to be one of the first, if not the first oracle on Syscoin to be providing reliable and decentralized price feeds and randomness, among other services. Witnet is the only decentralize oracle solution on the market because of its native crypto-economic incentives.

Syscoin is a blossoming ecosystem that utilizes the strengths of Bitcoin’s security and the efficiency of the EVM. With their own incredibly unique approach the decentralization of these networks together is akin to nothing else, aside from Bitcoin.

At this moment in time, Syscoin has a TVL of $1,000,000. With much development incoming, we’re excited to be the official oracle of the Syscoin ecosystem.

Syscoin is excited to be working with Witnet on our layer 1. The next steps for us are the launching of our layer 2 which will also see Witnet acting as an oracle too. In the future, you can expect to see Syscoin become the largest, most active chain in the Witnet community.— Nathan from Syscoin 

Connect with Witnet

Website | GitHub | Twitter 

Connect with Syscoin

Website | Github | Twitter 

RESOURCES

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This integration of Witnet with Kava will bring its entire suit of decentralized oracle services to the Kava network.

Witnet is a decentralized oracle protocol that focuses on providing reliable data to “autonomous” smart contracts — those that require a high degree of tamper resistance and should not leave space for manipulation. Witnet can power most DeFi primitives like price feeds, stablecoins, synthetics, etc., as well as act as a reliable source of randomness for creating uniqueness in NFTs.

Partnership HighLights

To begin with, Kava has developed an essential network within our cryptocurrency ecosystem. They have designed their network to be EVM compatible AND Cosmos SDK **compatible. These execution environments are essential for builders looking to create smart contracts, and the Kava network can scale because of the byzantine fault tolerance consensus mechanism called “Tendermint”

Developers within the Kava ecosystem need access to decentralized and immutable data in order to continue making the important products they’ve been working on. And they’re getting it from Witnet as the deeply distributed network of nodes fulfilling Request-Attest-Deliver tasks have been providing this concretely for years.

Indeed, Kava developers already have access to the suit of offerings that Witnet’s network can provide, like public price feeds, randomness, and HTTPs requests.

This partnership is lucrative to both the communities of Kava and Witnet. Now these communities can integrate, and those building on Witnet have seamless access to Kava’s lightning-fast network, and those working on Kava have access to the trustless and decentralized oracle for all their needs. Hence, both teams are working tirelessly on this integration, and are dedicated to its current and future success.

The partnership with Kava further legitimizes the Witnet network and proves the need for a decentralized oracle service when building smart contracts and decentralized applications that have real-world implications.

Witnet is poised to grow parallel to Kava, and continue providing needed services to a slew of developers looking to help strengthen decentralized finance and other blockchain based applications.

About Witnet

The Witnet protocol enables smart contracts to realize their true potential by giving them access to all sorts of valuable data sets, and by attesting and delivering that information securely thanks to its strong crypto economic guarantees.

Website | Twitter 

About Kava

Kava is a lightning-fast Layer-1 blockchain featuring a developer-optimized co-chain architecture that combines the two most used permissionless ecosystems — Ethereum and Cosmos — into a single, scalable, network.

Website | Twitter 

SOURCE

https://medium.com/witnet/witnet-and-kava-have-officially-integrated-and-why-this-could-change-the-landscape-cdf18546fd86

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