ZK-rollups step into the limelight after the quest to scale Ethereum evolves
ZK-rollups become the latest trending solution for scalability on the Ethereum network as developers strive to increase throughput capabilities while decreases transaction costs. Scalability on the Ethereum (ETH) network has been a point of contention within the cryptocurrency ecosystem for years, primarily due to high fees and network congestion during periods of peak demand.The latest solution to emerge as the final fix to Ethereum’s scalability woes are Zero-knowledge rollups (ZK rollups), a form of scaling that runs computations off-chain and submits them on-chain via a validity proof.....
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“Is there a need for more than one internet? And we know the answer is ‘Hell no.’” Theres a version of the future thats tantalizingly possible in which Ethereum becomes the base layer for pretty much everything.Recent advances in a technology called zero-knowledge Rollups from StarkWare, Polygon and zkSync enable the blockchain to move from fewer than 20 transactions per second to well, an infinite number of TPS.In theory, it would allow the entire worlds financial system to run on Ethereum.I think its theoretically possible, explains Declan Fox, product manager for rollups at Consensys,....
The author of the Ethereum whitepaper, Vitalik Buterin, believes rollups will solve Ethereum’s scaling woes until the introduction of Eth2 sharding. Ethereum co-founder, Vitalik Buterin, believes the network is on the verge of scaling by a factor of 100, predicting the Optimism will release its layer-two solution in the coming weeks.Speaking on the Tim Ferriss podcast, Buterin noted Eth2’s developer are focused on working toward the chain merge with Ethereum, and are confident that layer-two solutions can support the network until sharding is developed. “Rollups are coming very soon,” he....
The funding will be used to further develop zkSync v2, which is currently live on testnet. Matter Labs has announced a major new funding round to further develop the second version of its Ethereum-based rollups, zkSync.On Nov. 9, Matter Labs announced it had secured $50 million in a Series B round led by Andreessen Horowitz and included participation from existing investors Placeholder and Dragonfly Capital. The new round follows Matter Labs’ $6 million Series A in February, and saw participation from many new investors including Crypto.com, ConsenSys, and OKEx.The new cash injection will....
Consensys, an Ethereum software company, announced yesterday the launch of a new scaling solution for Ethereum, called “Consensys Rollups.” The company enlisted Mastercard programmers to design the solution, which aims to allow the network to reach a throughput of 10,000 TPS (transactions per second), according to a PR statement. The solution can be implemented on top of private, permissioned protocols like Quorum, or on public chains like Ethereum.
Consensys to Address Scaling With Mastercard’s Assistance
Consensys, an Ethereum software company, launched....
Global auditing giant Ernst & Young has released the third iteration of its zero-knowledge proof Ethereum scaling solution. Ernest & Young's (EY's) attempts to promote secure and private transactions over public blockchains at cheaper costs has culminated in the release of Nightfall 3.The company announced the news via a release on July 1, stating that Nightfall 3 combines zero-knowledge proofs with optimistic rollups — zk-Optimistic Rollups — to improve transaction efficiency on Ethereum.Indeed, zk-Rollups are one of the layer-two scaling solutions being developed to achieve scalability....