- Blockchain Foundry (BCFN) has successfully bridged Syscoin and Ethereum
- This means the two previously isolated cryptocurrency ecosystems can exchange data and work in tandem.
- The company believes this will usher in a “a new breed of blockchain solutions” for its clients.
- The current price of Ethereum currency is C$232.83
- Blockchain Foundry (BCFN) moved up 55.6 per cent, with shares currently trading at C$0.085.
Toronto based blockchain consulting firm, Blockchain Foundry (BCFN), announced today that it has created the world’s first bridge between Syscoin and Ethereum.
The new bridge means the previously separate cryptocurrency systems are now interoperable.
Blockchain systems traditionally operate independently from one another. Any information regarding say, Bitcoin, is non-transferable to another Blockchain system.
As a result, many people use a third-party e-wallet to collate multiple cryptocurrencies.
What Blockchain Foundry has accomplished is to bridge information directly between Ethereum and Syscoin systems.
The company stated this bridge will help utilise each currency’s strengths in unison.
“[E]xisting Ethereum projects can take advantage of Syscoin’s fast, low cost transactions to help projects scale beyond what the Ethereum network is currently capable of.”
Company CEO, Dan Wasyluk, said this new development means Blockchain Foundry “can deliver a new breed of blockchain solutions to clients that leverage the strengths of both of these ecosystems.”
The company will use this new bridge to aid clients operating between the two cryptocurrencies (Ether and Syscoin Tokens).
The current price of Ethereum currency is C$232.83 It was launched by Vatalik Buterin in July of 2015 and is now listed and the third most valued cryptocurrency by market capitalisation, behind Ripple and Bitcoin.
Blockchain Foundry (BCFN) moved up 55.6 per cent, with shares currently trading at C$0.085.