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π The scalability of #Ethereum is right around the corner, and zero-knowledge rollups play an important role in this!
π€ But do you know what they are and how they work?
Thread ππ§΅
π€ But do you know what they are and how they work?
Thread ππ§΅
βοΈ Blockchains can be slow and expensive due to their distributed structure.
Zero-knowledge (ZK) #rollups use the minimum data necessary to verify transactions by unburdening #Ethereum from excess network workload. This makes the network both faster and cheaper. π
Zero-knowledge (ZK) #rollups use the minimum data necessary to verify transactions by unburdening #Ethereum from excess network workload. This makes the network both faster and cheaper. π
π Judging by the TVL, rollups are by far the most popular scaling technology for Ethereum.
There are two types of rollups: Optimistic and Zero-Knowledge (ZK).
There are two types of rollups: Optimistic and Zero-Knowledge (ZK).
ποΈ Both optimistic and ZK rollups serve to reduce Ethereum's workload by aggregating hundreds of transactions into a single one.
This bundled transaction is verified and added to Ethereum's public ledger as a data block, offloading the network and resulting in reduced fees. π
This bundled transaction is verified and added to Ethereum's public ledger as a data block, offloading the network and resulting in reduced fees. π
π ZK-rollup uses zero-knowledge proof to submit a validity proof for transactions. It provides authenticity without revealing details, reducing transaction data load and enabling fast transactions on Ethereum.
ZK-rollups use two Ethereum smart contracts:
1οΈβ£ the main contract stores rolled-up blocks and determines user withdrawals
2οΈβ£ the verifier contract authenticates transactions with zero-knowledge proof
1οΈβ£ the main contract stores rolled-up blocks and determines user withdrawals
2οΈβ£ the verifier contract authenticates transactions with zero-knowledge proof
βοΈ To reduce congestion on #Ethereum, ZK-rollups execute transactions off-chain.
π The ZK virtual machine runs smart contracts and batches Ethereum transactions into a single transaction, relying on Ethereum for validity proof.
π The ZK virtual machine runs smart contracts and batches Ethereum transactions into a single transaction, relying on Ethereum for validity proof.
π The implication of this process is that ZK-rollups are as secure as #Ethereum since their updates are confirmed by Ethereum's EVM.
The ZK-batched transaction is submitted as validity proof, also known as SNARK or STARK.
The ZK-batched transaction is submitted as validity proof, also known as SNARK or STARK.
Before 2022, optimistic rollups were the only rollups that allowed for smart contracts to be executed off-chain because they run on a fully EVM-compatible virtual machine.
Times have changed since then. In the last few days, we witnessed the launch of 3 ZKEVM-compatible rollups!
Times have changed since then. In the last few days, we witnessed the launch of 3 ZKEVM-compatible rollups!
Read @samuel_haig's full report on @zksync Era public mainnet launch:
thedefiant.io/zksync-era-maiβ¦
thedefiant.io/zksync-era-maiβ¦
Only 4 days later, @0xPolygonβs zero-knowledge rollup went live on mainnet, as reported by @aleks_gilbert:
thedefiant.io/polygon-zkevm-β¦
thedefiant.io/polygon-zkevm-β¦
Most recently, @ConsenSys opened up the testnet of its zero-knowledge rollup to developers and users as reported by @samuel_haig:
thedefiant.io/consensys-lineβ¦
thedefiant.io/consensys-lineβ¦
Make sure to follow us @DefiantNews for the best #DeFi content and if you've enjoyed this thread, drop a like/retweet on the first tweet below π
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https://twitter.com/DefiantNews/status/1642768918862520326
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