Blockchain

Blockchain Foundry Deploys Syscoin LUX; Cutting-Edge Platform for NFTs and Compliant Payments

May 03, 2021 08:33 ET | Source: Blockchain Foundry Inc.

TORONTO, May 03, 2021 (GLOBE NEWSWIRE) — Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to announce that, in conjunction with the Syscoin Foundation, it has successfully deployed Syscoin LUX, the latest version of the Syscoin blockchain. Syscoin is an open-source blockchain protocol that underpins many of BCF’s proprietary development efforts, and offers fast, highly scalable, and low-cost blockchain infrastructure for a wide variety of applications. Syscoin LUX introduces a range of new features which make Syscoin one of the best and most future-proof decentralized platforms for fungible and non-fungible tokens, payments, and non-custodial, rules-based compliance.

Among other innovations, Syscoin LUX brings the following cutting-edge features to life:

  • NFTs: Syscoin LUX introduces a Non-Fungible Token (“NFT”) platform like no other. NFTs generated on the Syscoin network are scalable, low-cost, divisible and non-divisible. Because Syscoin is merge-mined with Bitcoin, creating and using NFTs on the Syscoin platform does not introduce any additional carbon footprint.
  • Syscoin Notary: Syscoin Notary provides the building blocks to enable Syscoin Platform Token (“SPT”) projects to be compliant with specific payment rules which can be encoded directly into the blockchain. This provides the foundation to build compliant payment solutions which restrict certain transactions based on specific rules.
  • Auxiliary fees (AUX fees): Enables SPT projects the ability to charge specific custom fees.
  • UTXO Assets: Scalable crypto payments, UTXO assets opens the doors to faster adoption of payment channel mechanisms.

“Blockchain Foundry focuses on creating innovative business and consumer solutions using the unique infrastructure provided by Syscoin and other public and private blockchain protocols. With Syscoin LUX, we have an amazing platform to develop a wide range of cutting-edge solutions including NFT applications and compliant, rules-based payment systems using Syscoin Notary,” said Dan Wasyluk, CEO of BCF.

Commenting further, Mr. Wasyluk added, “We are very excited about the future of Syscoin and plan to leverage this technology in our work at Blockchain Foundry. BCF owns approximately 6.4 million Syscoin tokens, allowing our shareholders to participate in the growth and success of the Syscoin ecosystem.”

To learn more about Syscoin, which is administered by the Syscoin Foundation, please visit: https://syscoin.org/.

About Blockchain Foundry Inc.

Blockchain Foundry develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses.

Blockchain Foundry Contact Information:

Dan Wasyluk
Chief Executive Officer
[email protected]
https://blockchainfoundry.co/

Forward-Looking Information

Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information.

Forward-looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all. Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by BCF are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties, and contingencies. Many factors could cause BCF’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.

Source: https://www.globenewswire.com/news-release/2021/05/03/2221399/0/en/Blockchain-Foundry-Deploys-Syscoin-LUX-Cutting-Edge-Platform-for-NFTs-and-Compliant-Payments.html

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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