Syscoins biggest upgrade to date marries Eth smart contracts to Btc security.

https://coinmarketcap.com/headlines/news/nevm-upgrade-goes-live-introducing-evm-and-scalable-smart-contracts-to-the-syscoin-sys-ecosystem/

Syscoin has created a new L1 from their BTC-ETH bridge they developed a few years ago which was the first of its kind at the time.

The lead developer, who will be known as a contemporary to Vitalik at some point, agreed with him about the trilemma being impossible to solve without sacrificing one element of it.

They first focused on developing a utility platform from Bitcoins core, this was completed earlier in the year. With this L1 you can create UTXO tokens with opt in regulation compliance with near instant transactions at 140k TPS and with fractional NFTs.

Not until Zkrollups looked like becoming a reality did the developers decide to build a smart contracts layer, doing so in less than a year. Before then there wasn’t any hope to secure a foothold against Ethereum without sacrificing security to speed up and cheapen the smart contracts. The devs were holding out for a L2 solution, and that breakthrough has come with Zkrollups.

There is belief in the team that once Ethereum pivots to PoS, there won’t be much point in any other L1, and most likely the other monolithic chains will become rollups on top of Ethereum.

Syscoin will retain an element of the market as it will offer an alternative settlement option for the contracts, Syscoin’s PoW, which is secured by Bitcoins PoW. Offering this alternative layer of security will likely see Syscoin and Ethereum being the 2 remaining L1s in a rollup centric Web3.0 landscape.