XSL Labs will elevate user data protection through the implementation of their ecosystem known as Pulsar. Services offered within this ecosystem will be accessible via their native ERC-20 token, SYL, with a BTC market now open for trading.
Touted as the bedrock of the proposed “internet of trust,” Pulsar will be governed by European law and meet KYC and AML requirements. All users within the Pulsar ecosystem will be able to create a distributed profile via a secure digital identity (SDI) that will include all personal information required to carry out transactions globally.
XSL Labs encourages network participation through an innovative governance protocol whereby any actor that deploys a dApp within Pulsar will be required to maintain a node. Node maintenance graduates developers to “delegates,” and are entitled to SYL token rewards determined by ecosystem significance.
The driving utility asset, SYL, within the Pulsar distributed ledger, was created to hold value. SYL allows users to transfer value, purchase services, execute smart contracts, bolster network security, and reward validators. Capped at 10,000,000,000 tokens, the SYL ecosystem will take on the form of a digital service platform solely powered by the SYL utility asset.
XSL Labs, developer of the SYL Token and Pulsar ecosystem, is an incubator and grant provider for promising projects on the Pulsar. Following the official release of ONE, its first distributed app housed on Pulsar, the team plans to begin grant and funding distribution later this year, in an effort to further populate the ecosystem.
XSL Labs believes their SDI technology can disrupt numerous niches where data reliability is paramount with a broader objective of forging an innovation hub within the European Union, facilitating disruptive change and tackling digital age security concerns head-on.
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ABOUT XSL LABS
XSL Labs will offer a number of solutions for protecting identity data on the Internet and is developing a blockchain-based Decentralized Identifier (DID) referred to as Secure Digital Identity (SDI) to combat data theft. XSL Labs hopes to lay the foundations for self-sovereign identity and the Internet of Trust with the dApp “ONE” which will give the users the control of their SDI.
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