Over the last decade we have seen a number of blockchain projects take innovation to a new scale, and some projects have been truly unique in their approach to bringing better solutions for their customers.
At the same time, we have seen a slower rate of adoption for blockchain technologies among real-world businesses. The reason is simple! Lack of interoperability between blockchains has hindered businesses from fully moving their systems to blockchain platforms.
Syscoin Platform addresses the need for interoperable blockchains by introducing its own bridge-structure called Syscoin Bridge, which facilitates a trustless two-way transaction channel between Syscoin and other blockchain platforms.
Syscoin Bridge allows the user to transfer SYS tokens to other blockchains without any market liquidity limitation or third-party risk.
Earlier this year, the Syscoin project achieved a major milestone in establishing interoperability with the Ethereum blockchain network. This created a win-win situation for users of both platforms to benefit and leverage each other’s functionalities.
Using the Syscoin-Ethereum Bridge, Syscoin developers can benefit from Ethereum’s very popular smart contract functionality and also access other tool kits within the Ethereum ecosystem.
Similarly, Ethereum or ERC-20 token users get the transactional utility and security of the Syscoin platform. This also helps to expand the viability of ERC-20 tokens for new use cases.
Syscoin Platform 4.1 has now announced a special bounty for all promoters and users of Syscoin Bridge. So, if you’re someone who has been using ERC-20 tokens for any particular application, this could be a great opportunity for you to try out the Syscoin Platform and earn a bounty while you do it!
The Syscoin Ethereum Bridge Bounty
In March 2020, Syscoin announced its Syscoin Bridge Interoperability with the Ethereum platform. Now, after some months of testing and seeing a good opportunity in the market, Syscoin has announced a bounty for the users of its bridge solution.
To participate in this bounty, Syscoin has created a framework for the bridge users. Under this new framework, anyone using Syscoin Bridge can help Ethereum developers discover new opportunities through the Syscoin platform’s interoperability solutions.
Below is the criteria laid down by Sycoin for its bounty program by distributing rewards in two different tiers to cater to all levels of engagement and experience.
- Tier 1: The ERC-20 Project
Syscoin has announced an official bounty reward of 25000 SYS for any who is an official representative of an active ERC 20 project. To be eligible to receive the bounty, Syscoin has laid down some specific rules and guidelines that one should adhere to.
Before participating in the bounty program, the entrant will also need to fill out an application form, to which they will receive a response within 5 business days. All the details are available on the official Syscoin website.
Interestingly, there are also two one-time bonus available of 3000 SYS and 7000 SYS if one helps them spread the word of Syscoin Bridge on social media platforms like Twitter and Reddit.
- Tier 2: The Blockchain Professional
If you’re an experienced blockchain professional and meet any of these requirements – 1) Individual blockchain developer 2) Experienced member of a blockchain development team, community, or a company, you are eligible to receive a bounty reward of 10000 SYS.
Again, participation requires entrants to fill out an application form, to which they will receive a response within 5 business days.
Applicants belonging to this group are eligible to receive two one-time bonuses of 2000 SYS and 3000 SYS for spreading the word.
If someone has been working in the blockchain field for a while and is really engaged with it, this could be an interesting challenge to solve one of the industry’s most pressing issues of lack of cross-chain communication.
Read our previous article about Syscoin here –>
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