02:07:48 EDT Mon 27 May 2024
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Blockchain Foundry Inc
Symbol BCFN
Shares Issued 70,395,148
Close 2021-12-07 C$ 0.24
Market Cap C$ 16,894,836
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Blockchain Foundry releases Syscoin NEVM upgrade

2021-12-08 10:52 ET - News Release

Mr. Jag Sidhu reports


Blockchain Foundry Inc., in conjunction with the Syscoin Foundation, has successfully deployed the highly anticipated Syscoin NEVM (network enhanced virtual machine) upgrade (version 4.3.0).

Syscoin's new network enhanced virtual machine introduces a computation engine to the protocol, capable of creating and executing smart contracts. Smart contracts enable developers with the ability to program decentralized applications (dApps), decentralized finance (DeFi) applications, non-fungible tokens (NFTs), metaverse ecosystems and more. The upgrade took place on block 1,317,500 on Dec. 6, 2021.

Designed to scale to smart cities and beyond, Syscoin's NEVM combines ethereum's smart contract functionality with Syscoin's existing innovative features. These include regulatory compliance capabilities for digital assets, unmatched low-cost fees and fast, ultrasecure transactions built to scale to millions of concurrent users. These capabilities solve many pain points experienced by projects on other smart contract platforms, providing low-cost, scalable and compliant tooling for DeFi, NFTs, metaverse and Web3 applications without compromising security and decentralization.

Blockchain Foundry invested $1-million in Syscoin tokens in April, 2021, and currently holds approximately 6.6 million Syscoin tokens.

"Through the novel use of zkRollups, Syscoin will usher in scalable smart contracts with decentralization in mind. Considering Syscoin has the highest computing power after bitcoin and has already implemented on-chain regulatory compliance tools, its achievements are unmatched. We're thrilled to bring NEVM to Syscoin's network, which will open the door to many more possibilities beyond stablecoins. At Blockchain Foundry, we believe in the future of blockchain technology and the benefits it can bring to millions of users around the globe. Syscoin is an implementation of blockchain technology developed for real-world use at scale, designed to match or outperform both centralized and decentralized competitors. We will continue to support Syscoin's development and reinvest in the protocol going forward," said Jag Sidhu, chief technology officer of the company and Syscoin Core developer.

About Blockchain Foundry Inc.

Blockchain Foundry develops and commercializes blockchain-based business and consumer solutions, with a focus on infrastructure for digital assets and NFTs. The company also provides blockchain consulting services to corporate clients.

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