#zk rollup explained

[intelisync]

Optimistic Rollups vs ZK-Rollups: A Quick Guide

As blockchain technology continues to revolutionize industries, the need for scalable solutions becomes increasingly urgent. Ethereum, one of the leading blockchain networks, faces significant challenges in handling high transaction volumes efficiently. Enter rollups, a game-changing layer 2 scaling solution designed to alleviate these issues.

Rollups are an innovative approach to improving blockchain scalability by processing transactions off the main chain (Layer 1) and then submitting them in batches, thus reducing congestion and costs. There are two main types of rollups: Optimistic Rollups and ZK-Rollups (Zero-Knowledge Rollups). Optimistic Rollups assume transactions are valid by default and only use fraud proofs to handle disputes, offering lower gas fees and increased throughput. However, this method introduces a slight delay in transaction finality due to the need for challenge periods.

On the other hand, ZK-Rollups leverage zero-knowledge proofs to validate transactions, providing immediate finality and enhanced security. While this approach requires significant computational resources, it ensures that transactions are inherently valid and almost impossible to tamper with. The blog delves into a detailed comparison between these two rollup types, highlighting their unique advantages, drawbacks, and ideal use cases.

Intelisync, a leader in blockchain development services, has successfully implemented rollup solutions to address scalability challenges for various clients. By leveraging these advanced technologies, Intelisync helps businesses enhance their blockchain platforms' performance and user experience. Ready to scale your blockchain application? Contact Intelisync today to explore how we can support your journey towards Learn more....

[cryptonewssm]

Understanding Ethereum Layer 2 Solutions: Which is Right for Your Transaction Needs?

Ethereum's popularity has created persistent scalability challenges, with network congestion and high gas fees limiting accessibility for many users. According to Crypto News Today  Layer 2 scaling solutions have emerged as critical infrastructure addressing these limitations while preserving Ethereum's security guarantees.

Layer 2 solutions build additional processing capacity on top of Ethereum's main blockchain (Layer 1), handling transactions separately before settling finalized results on the main chain. This architecture maintains Ethereum's security foundation while dramatically increasing throughput and reducing costs per transaction.

Optimistic Rollups represent one major Layer 2 category, batching hundreds of transactions into single main-chain submissions. These solutions use fraud proofs, assuming transactions are valid unless challenged within a verification window. While this approach enables rapid processing, the challenge period creates withdrawal delays that may impact certain use cases.

ZK (Zero-Knowledge) Rollups offer an alternative scaling mechanism, using advanced cryptographic proofs to verify transaction validity without revealing transaction details. This mathematical validation eliminates challenge periods, allowing faster withdrawals to the main chain while providing enhanced privacy benefits in some implementations.

Each Layer 2 solution presents distinct trade-offs between transaction cost, confirmation speed, withdrawal times, and security models. These differences make certain platforms better suited for specific use cases, from gaming applications requiring rapid confirmation to DeFi protocols prioritizing security and lower fees.

For decentralized application users, choosing the appropriate Layer 2 solution depends on transaction frequency, time sensitivity, and budget considerations. Active traders performing multiple daily transactions may prioritize platforms with the lowest fees, while users transferring larger amounts might favor solutions with the strongest security guarantees.

Wallet support varies considerably across Layer 2 ecosystems, with some solutions requiring specialized interfaces or additional steps for bridging assets. This usability factor can significantly impact user experience, particularly for less technical participants seeking simplified interaction with Ethereum-based applications.

Liquidity considerations remain important when selecting Layer 2 platforms, as fragmentation across multiple scaling solutions has created isolated pools of assets. Major decentralized exchanges and lending protocols have deployed across several Layer 2 networks, but liquidity depth varies considerably between platforms.

Developer adoption represents another critical factor in Layer 2 selection, as platforms attracting more applications create broader utility for users. The network effects of application ecosystems can significantly impact long-term viability and user experience for different scaling solutions.

Interoperability between Layer 2 solutions has improved through bridge protocols that enable asset transfers between different platforms. These bridges reduce ecosystem fragmentation while allowing users to access unique benefits across multiple scaling solutions, though additional transaction steps may be required.

"The Layer 2 ecosystem continues evolving rapidly, with different solutions optimizing for specific use cases rather than competing directly," explains a recent analysis from Crypto News Today  "This specialization benefits users by providing options tailored to their particular needs."

As familiarity increases, exploring specialized platforms optimized for specific activities can further enhance the Ethereum experience through reduced costs and improved performance.

[unacolclough]

Digifinex: New Ethereum Rollup Introduces zkSharding for Enhanced Scalability

The ETH Foundation, known for its work on Ethereum scaling solutions, has unveiled zkSharding, a novel approach to scaling Ethereum with the aim of achieving faster transaction speeds while upholding the network’s economic security.

zkSharding harnesses the power of zero-knowledge (zk) technology to create proofs, ensuring the validity of transactions across various layer-2 shards before they are submitted to the Ethereum mainnet. The more sub-shards there are, the greater the potential throughput on the Ethereum network.

It’s important to note that zkSharding should not be confused with Proto-Danksharding, which is associated with Ethereum Improvement Proposal (EIP) 4844. Proto-Danksharding’s primary purpose is to reduce transaction costs for zk rollups by storing them in temporary data blobs, as explained by Misha Komarov, CEO and co-founder of the =nil; Foundation.

While Proto-Danksharding benefits all zk rollups, zkSharding offers additional advantages specifically for applications built on the =nil; platform. According to Komarov, data-intensive and high-load environments stand to gain the most from zkSharding.

“As a zk rollup benefits from Proto-Danksharding, which reduces the cost of storing transactions on Ethereum. However, zkSharding, as a scaling concept, addresses liquidity fragmentation and economic security,” said Komarov.

ZkSharding represents a blend of modular and monolithic blockchain architectures, providing a tailored solution that aligns with its unique features in the competitive layer-2 environment.

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[blogchaindeveloper]

What is Immutable, and why is it important for Blockchain Gaming?

The gaming industry is undergoing a swift transformation as a result of new technologies such as blockchain. Blockchain-based gaming offers numerous advantages over conventional gaming, with immutability being a central concept. Data with immutability cannot be modified or deleted. This is a fundamental characteristic of blockchain technology that has significant advantages for gaming.

Immutability is the fundamental principle underlying the inherent trust and security of blockchain systems. Once data is recorded on the blockchain, immutability ensures that it cannot be altered, tampered with, or deleted. This characteristic is analogous to a digital fingerprint that provides certainty and transparency in a digitally uncertain world.

This article will delve into the concept of immutability and explain why it is a game-changer in the blockchain gaming universe. We will examine how immutability fosters trust, facilitates true ownership of in-game assets, and transforms the gaming experience.

And remember, if you do not know how to become a blockchain developer, the finest courses from Blockchain Council are available to improve your knowledge and skills.

What is Unchangeable?

All records of in-game assets and activities are maintained on a decentralized ledger in blockchain-based gaming. This ledger is immutable, so the data are permanent and tamper-proof. This provides fairness and transparency to the acquisition and trading of rare digital assets for gamers. Additionally, developers will be able to construct truly scarce digital assets with verifiable ownership histories.

In order to establish trust in a virtual environment where anyone can participate, immutability is essential. Without it, game economies could be manipulated and assets could appear and disappear unfairly. Imagine if your rare collectibles in games like Axie Infinity were subject to duplication or removal at any time; it would be pandemonium!

Therefore, immutable records are crucial. They give gaming ecosystems a new measure of security and fairness. As the prevalence of blockchain-based gaming continues to rise, immutability will continue to be one of its defining and most valuable characteristics. This key characteristic must be understood by anyone interested in investigating the opportunities in this exciting space.

Due to the immutability of blockchain, gamers no longer need to be concerned about unethical practices or changes made without consensus. The Blockchain Council's exhaustive blockchain certification course teaches how these mechanisms operate and equips you with the skills necessary to leverage blockchain's capabilities for gaming and beyond.

The origins of immutability

James Ferguson, Robbie Ferguson, and Alex Connolly founded Immutable in 2018 under the name "Fuel Games" The mission of these entrepreneurs in entering the blockchain gaming universe was to revolutionize the gaming experience.

Gods Unchained, a pioneering blockchain-based card game developed by the Ferguson brothers in 2018, had already made a significant impact on the blockchain gaming industry. This game gained immense popularity and acclaim, but it also revealed a critical issue afflicting the blockchain ecosystem: escalating Ethereum gas fees, which could make gaming prohibitively costly.

The founders of Immutable recognized the need for a solution that could provide a seamless and cost-effective gaming experience on the blockchain. They discovered the solution in zk-rollup technology, a revolutionary blockchain scaling solution. Immutable established a strategic partnership with StarkWare Industries, an Israel-based blockchain technology company renowned for its StarkEx technology, in order to realize their vision.

Together, they set out to establish Immutable X, a platform that would redefine the possibilities of blockchain-based gaming. Immutable X utilized StarkWare's cutting-edge technology to provide the scalability and efficacy required for a frictionless blockchain gaming experience.

Disney's 2021 intentions to release Non-Fungible Tokens (NFTs) on a platform based on Immutable X demonstrated that Immutable's influence extends well beyond the gaming community. This action highlighted the platform's credibility and its ability to reshape digital ownership and collectibles.

Immutable's journey culminated in March 2022, when it secured a substantial funding round lead by the Chinese tech titan Tencent and the blockchain gaming pioneer Animoca Brands. This funding round valued Immutable at a staggering $3.5 billion, cementing its position as one of Australia's most valuable private technology companies.

The transformation of Immutable from a vision to a blockchain gaming powerhouse with significant financial support demonstrates the revolutionary potential of blockchain technology. It exemplifies the power of innovation and the influence of visionaries who have the courage to challenge the status quo.

The Blockchain Council's blockchain developer course serves as an introduction to blockchain technology for those intrigued by Immutable's voyage and the broader blockchain landscape.

Why is it crucial for Blockchain-reliant Gaming?

This section explores the profound benefits of the blockchain's immutable ledger.

Unalterable and tamper-resistant

The immutable ledger's resistance to modification and tampering is one of its primary virtues. Once data is recorded on the blockchain, it becomes immutable, assuring high data integrity and protecting against unauthorized modifications.

Increased Security

The distributed architecture and consensus mechanisms of Blockchain afford it exceptional security. The absence of a central authority eliminates single points of failure and substantially reduces the risk of data manipulation and cyberattacks. The implementation of cryptographic techniques adds an extra layer of security to the blockchain, fortifying it against external threats.

Traceability and Transparency

By methodically recording every transaction on a public ledger, blockchain ushers in an era of transparency and traceability. As anyone can verify and trace the history of transactions or assets, this transparency promotes confidence and accountability. Such openness is invaluable across all industries.

Enhanced Productivity and Cost Reduction

By eliminating intermediaries, automating workflows, and reducing documentation, blockchain optimizes processes. This results in increased efficiency, accelerated transactions, and cost savings as third-party verification and reconciliation are rendered unnecessary.

As blockchain continues to shape the future, it is essential to acquire expertise in this transformative technology. The Blockchain Council's blockchain developer course and blockchain training course provide exhaustive knowledge and skills to excel in this dynamic environment, ensuring that you are well-equipped to leverage the immutable ledger's potential for a secure and transparent future.

The conclusion

In conclusion, the concept of an immutable ledger within blockchain technology functions as a foundation for trust, transparency, and security across a variety of industries. Its significance rests in its capacity to provide an immutable record of transactions, thereby ensuring data integrity and preventing unauthorized changes.

As blockchain technology continues to develop and find new applications, grasping the significance of the immutable ledger is crucial for individuals and organizations seeking to maximize its potential. Blockchain technology can be learned by registering for the Blockchain Council's blockchain developer course. Do not pass up the chance to expand your knowledge in this revolutionary discipline.

[ailtrahq]

Layers are the models on which blockchains are designed. All the first-generation cryptocurrencies are Layer-1 coins. They include the likes of Bitcoin, Ethereum, Litecoin, Ripple, etc. As the term quite explains itself, Layer-1 is the initial and base model.  They comprise of fundamentals like data storage, transaction validation, and consensus. It works like a backbone to the coin. But here’s where the problem arises. While the Layer-1 model takes care of the basics, it lacks scalability and efficiency to meet today’s needs. Hence, the developers came up with a secondary model called Layer-2.  This one particularly focuses on the enhancement of the blockchain. It improves the speed, reduces the fee, and makes the crypto more adaptable. Some examples of the same are Polygon on Ethereum and Lightning Network on Bitcoin. Needless to mention, Layer-2 coins have gained huge traction. As they take blockchain ahead, the crypto users clearly see them as the future. Thus, the Layer-2 coins have become quite profitable as well.  Layer-2 Assets That Will Rule The Markets  Based on a comprehensive analysis, these are the cryptos that experts have picked. Arbitrum  Arbitrum enables Ethereum to execute 40,000 transactions per second at a very low fee. Additionally, it improves smart contract functionalities and eases usage. Its robust mechanism empowers developers to create high-end decentralized applications. For all these reasons, this coin gains great value in the market. Optimism Optimism uses a unique method to improve transaction speed. It settles transactions on the blockchain that run in parallel with the Ethereum network. This also lowers the fee considerably. Besides that, it facilitates the development of scalable DeFi protocols with EVM-compatible smart contracts. It has become a popular choice among traders lately.  Immutable X Immutable X has been developed to improve the scalability of NFTs on the Ethereum network. It makes minting and trading of NFTs faster with zero costs. To make this happen, the protocol deploys the zero-knowledge roll-up or zk-rollup method. It has also become a favorite of crypto traders.  Loopring Loopring focuses on reducing gas costs while achieving better throughput. It also amps up the security and combines the features of centralized and decentralized exchanges. Moreover, it processes buyer and seller orders without taking control of their funds. With all the unique features, it has become a valuable investment for crypto traders.  Inspect (INSP) Built by and for X (formerly Twitter), Inspect is a Layer-2 crypto that comes with multiple functionalities. It facilitates access to NFTs, cryptos, GameFi, and many other services to Web3 users. Within a very short time, the platform garnered 150,000 unique users. For many reasons, its profitability is undisputedly high. Conclusion Layer-2 blockchain has put forward infinite possibilities for cryptocurrencies. They are making digital assets more efficient and favorable for industry usage. As a result, the adoption of these coins is growing exponentially. So, the investors putting money into these tokens are definitely making a wise decision. They are securing profits and benefits for their future.   Source

[coinnewz]

ZK proofs could change the internet, not just Web3 — Aleo exec

Zero-knowledge proofs could be used to solve the “biggest problem” plaguing the internet today — privacy, according to one cryptocurrency executive. Speaking with Cointelegraph at the Ethereum Community Conference (EthCC) the marketing chief at privacy-focused infrastructure platform Aleo, Brennen Schlueter, said while ZK proofs have become a popular solution to provide blockchains with improved scalability through ZK rollups, they have the potential to reshape the entire internet. ZK proofs enable the transfer of information to take place between two parties in which the originator only needs to reveal relevant information to the receiver. For example, to prove an individual is of age to enter a bar without revealing their actual age or identity to a security guard. Schlueter said the modern internet was not built to prioritize the privacy of its users. “When data needs to change hands, when data needs to be custodied, we're always going to have vulnerabilities there,” Schlueter explained in the context of how easily a user’s privacy can be breached online. Great vibes all around at #InfraCon @EthCC yesterday! From insightful panels on ZK proofs to discussions on growing communities, I was all ears Panel sessions often give away free battle-tested advice, which is incredibly informative & often underrated. pic.twitter.com/dau6yy7XEd — Marlin Intern (@marlin_intern) July 19, 2023 ZK proofs solve this privacy issue for not only Web3 but the entire internet, according to Schlueter. Related: Healthy competition welcome — Polygon zkEVM lead “With zero-knowledge proofs, we can actually start to see how data can be secured from the start by revealing the information that's required to know,” he added. “I think it changes the route that we are going with the internet broadly.” ZK proofs could make the lives of developers and data custodians much easier as they’ll no longer have to choose between creating a private environment or optimizing user experience, Schlueter explained, adding: “Those two things are at war with the way that we currently structure the internet.” Tiancheng Xie, the chief technology officer of ZK-powered interoperability platform Polyhedra, told Cointelegraph that artificial intelligence tools may also benefit from privacy and censorship-resistant properties offered by ZK proofs. “Scalable and connected,” added Tiancheng Xie, CTO of @PolyhedraZK pic.twitter.com/UYSCtcQcS7 — Cointelegraph (@Cointelegraph) July 19, 2023 Schlueter said finance, identity and gaming are other sectors benefiting from ZK proofs He claimed that more financial institutions are looking to ZK solutions in a bid to strengthen privacy where the firms see fit. Magazine: ZK-rollups are ‘the endgame’ for scaling blockchains, Polygon Miden founder Additional reporting by Zhiyuan Sun. Source link Read the full article

[debajitadhikary]

What is ZK Rollup?3 very Important Use cases

What is ZK Rollup?3 very Important Use cases

What is ZK Rollup? It’s a buzzing question nowadays how can it help scale up the Ethereum Transaction cost and Speed? What are the Pros and cons of ZK Rollup? We’ll discuss in this article What is ZK Rollup in a very simple way. Watch the video for details. Introduction The problem arises when the demand for the Ethereum network increase like crazy in the application of NFTs, Yield Firming,…

[technsavi]

Polygon's technical lead explains what to expect from zkEVM

Ad The Ethereum ecosystem is set to witness one of the hottest blockchain trends this year, with numerous companies eager to exploit Polygon’s upcoming zkEVM rollup. What are zero-knowledge proofs? Zero-knowledge (ZK) technology is a cryptographic solution reshaping the blockchain industry. They execute languages and low-level bytecode at a programmable level, backed by the same rules as the…

[primorcoin]

New Post has been published on https://primorcoin.com/gamestop-nft-marketplace-is-now-live-on-immutable-x-market-features-web3-games-blockchain-bitcoin-news/

Gamestop NFT Marketplace Is Now Live on Immutable X, Market Features Web3 Games – Blockchain Bitcoin News

After announcing the non-fungible token (NFT) marketplace seven months ago, the American consumer electronics and gaming merchandise retailer, Gamestop, has officially launched the company’s NFT market on Immutable X. In addition to NFTs, Gamestop’s marketplace also features Web3 gaming with games like “Gods Unchained,” and the DC Comics NFT trading card game “Hro.”

Gamestop Reveals Immutable X-Powered NFT Marketplace

Gamestop’s (NYSE: GME) NFT marketplace nft.gamestop.com is now live, and connected to the Ethereum layer two (L2) scaling solution Immutable X. Unlike NFT marketplaces like Opensea, Looksrare, and Rarible, the Gamestop NFT market offers “100% gas-free and carbon-neutral minting and trading to users,” according to the website.

Alongside the gas-free experience, the newly launched Gamestop NFT market says users can buy, sell, and create NFTs with “high speeds.”

The Gamestop NFT market’s Web3 gaming section.

“Today’s launch of the Gamestop NFT Marketplace means that we can now provide access to millions of additional NFTs, more of the top Web3 games being developed today, while maintaining a best-in-class experience for players,” Robbie Ferguson, the president and co-founder of Immutable X explained during the announcement.

The news follows Gamestop’s partnership with the exchange FTX US, which aims to bring Gamestop customers to the FTX community and marketplaces in order to acquire crypto assets. Gamestop detailed that select retail stores will carry FTX brand gift cards and “Gamestop will be FTX’s preferred retail partner in the United States.”

The Gamestop NFT marketplace launch and FTX partnership also follow the company releasing its own Gamestop branded wallet at the end of May. When navigating the nft.gamestop.com market, the connect tab shows three wallet choices which include the Gamestop Wallet, Walletconnect, and Metamask.

As far as the Web3 games are concerned, the Gamestop NFT Marketplace features the trading card game “Gods Unchained,” the chess game “Immortal Game,” the mobile role-playing game (RPG) “Guild of Guardians,” the massively multiplayer online role-playing game (MMORPG) “Ember Swords,” the 8 and 16-bit game “Bitverse,” and the official DC Comics NFT trading card game “Hro.”

Tags in this story

Data Collection, Desktop Wallet, ether, Ethereum, Ethereum-based assets, GameStop, Gamestop ethereum wallet, Gamestop NFT market, Gamestop NFT marketplace, Gamestop NFTs, Immutable X, L2, Loopring, metamask, nft, NFT Market, NFT marketplace, NFTs, Non-fungible Token, Power to Players, Privacy Policy, Web3, Web3 Games, Web3 wallet, ZK rollups

What do you think about Gamestop launching the NFT marketplace on Immutable X? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: 1take1shot / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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[truthblockchain]

A No Code Blockchain Tool

BVM Studio has been introduced as a new tool to simplify blockchain deployment with a no-code solution that aims to make blockchain technology more accessible.

The tool will provide a visual programming editor interface that enables users to deploy their blockchains using drag-and-drop blocks, similar to Lego building blocks.

The approach promises to facilitate the creation of any project’s own zero-knowledge (ZK) rollup blockchain without coding knowledge, computational setup, storage, or hardware nodes.

Speaking with Cointelegraph, the BVM team, a blockchain-as-a-service infrastructure provider and creator of BVM Studio, explained that, though “highly convenient,” the tool does have drawbacks.

“[...] it may not offer the same depth of customization as fully custom-coded solutions. However, we’re constantly adding new modules and options to enhance flexibility.”

https://cointelegraph.com/news/no-code-blockchain-deployment-bvm-studio

[thesecrettimes]

Reports Say FTX Warns Customers Not to Interact With Aztec Network, CEO Sam Bankman-Fried Responds

According to reports on social media, a number of users have complained that FTX has blocked a transaction that was associated with the Aztec Network’s zkmoney privacy technology. Following the accusations, FTX CEO Sam Bankman-Fried explained that transactions are monitored for AML compliance but it “does not mean any accounts were frozen.”

Journalist Wu Blockchain Says an FTX User’s Account Was Frozen After the User Transacted With the Aztec Network’s Privacy Enhancing ZK-Rollups

On August 18, the China-based journalist, Colin Wu ‘Blockchain,’ published a tweet that said a user who transacted with Aztec Network’s zkmoney tech, had their account frozen. Aztec Network is a privacy and scaling network, and similar to Optimism and Arbitrum it uses ZK-rollups, but Aztec Network’s zkmoney tech is privacy enhancing. Aztec’s technology uses a zk-SNARK scheme called “Plonk,” a general-purpose zero-knowledge proof mechanism. So while the average Ethereum network fee is 0.0014 ether or $2.29 using today’s ETH exchange rates, to send ether via the Aztec Network will cost only $0.40 per transfer. “Recently, FTX froze a user account who sent coins to zkmoney,” Wu Blockchain tweeted on Thursday. “According to FTX, Aztec Connect – Aztec network / zk money has been identified as a mixing service, which is a high-risk activity prohibited by FTX.” The journalist added: FTX said Industry-leading third-party transaction monitoring tools ensure users do not interact with high-risk addresses, it is recommended not to use the mixing service in the future, otherwise, it may endanger the FTX account.

FTX CEO Sam Bankman-Fried Responds, Aztec Network Insists ‘Privacy Is Legitimate’

Following the tweet, FTX CEO Sam Bankman-Fried responded to Wu Blockchain’s statement and explained that while FTX monitors transactions, it doesnt mean the exchange has frozen any accounts. “To be clear — this is getting garbled,” Bankman-Fried said. “We are constantly monitoring transactions for AML compliance, and do enhanced due diligence on certain transactions, but that does not mean that any accounts were frozen.” Additionally, the official Aztec Network Twitter page tweeted about the issue. “We are aware of reports that FTX is warning users not to interact with Aztec,” the team said. “As a result, we want to underscore our current and ongoing risk-reduction framework: 1) Implement practical deterrents 2) Measure their effectiveness — Privacy is legitimate.” Aztec Network continued: We want to start by reiterating our mission — Empowering individuals with on-chain privacy. Our belief is that privacy is a fundamental precursor to — Discretion, Security, Creativity — In other words, normalcy. As a result, our approach has always been one of practical deterrence: Ensuring users have access to privacy on-chain while deterring money-laundering and illicit activity. The Aztec Network news follows the ongoing complaints about Tornado Cash being banned by the U.S. government. Furthermore, reports show the decentralized exchange (dex) platform Uniswap has blocked 253 Ethereum-based addresses from the frontend using TRM Labs technology. Further, 12 days ago, the software developer Banteg reported that Centre Consortium blacklisted 75,000 USDC tied to the Tornado Cash pool. What do you think about the reports that allege FTX froze an account from someone who used the Aztec Network? Let us know what you think about this subject in the comments section below. Read the full article

[cryptodailysun]

One of the key executives on the Avalanche blockchain, Kevin Sekniqi, has explained why simplicity is necessary for layer one networks on Web3. The executive has stated that simple blockchains will achieve the desired performance levels. Avalanche is one of the leading blockchains in the market. The network is praised because of the low gas fees and fast speeds. Avalanche is currently the fourth-largest blockchain by total-value locked (TVL). Its TVL stands at $10.79 billion, according to DeFiLlama. The adoption of the Avalanche network in decentralized finance (DeFi) has been bullish for AVAX. Blockchain infrastructure should focus on simplicity Sekniqi took to Twitter to describe the components of the perfect blockchain infrastructure. He assessed the disadvantages and the potential of the blockchain network. The executive said that each decentralized system needed to focus on simplicity in his view. Buy Bitcoin Now Sekniqi said that a distributed architecture needed to be “simple and boring” because this would increase the transaction throughput and latency. He added that while scaling techniques such as sharding and zk-rollups were “cool” technologies, they could not enable blockchains to achieve their objectives. In a tweet, Sekniqi added that “Building good distributed systems is all about reducing time to finality, which is a function of both throughput and latency, while also ensuring that you don’t make unforced centralization errors (collapsing processing to a single unit).” Therefore, Sekniqi believes that the best cross-chain system would be one made up of an infrastructure of interconnected “boring” layer one blockchains. Ethereum as an Avalanche subnet Sekniqi shared a list of the networks that are considered simple and boring. These networks include Ethereum, Avalanche, Solana, Luna and Cosmos. He also said that Ethereum developers needed to reorganize and become a subnet in the Avalanche network, while Solana needed to change its fee markets. However, this remark was opposed by the Ethereum community. The community noted that the number of validators on the Ethereum network was 234 higher than the validators on the Avalanche network. They also said that Sekniqi was seeking attention and proposed transforming Avalanche into an Ethereum rollup. Buy Bitcoin Now Your capital is at risk. Read more: How to buy cryptocurrencies How to buy bitcoin Go to Source

[ailtrahq]

Cosmos-native layer-1 blockchain Canto has become the latest chain to migrate to Ethereum as a layer 2 zero-knowledge rollup, after another layer-1 blockchain, Astar, announced similar plans moving from the Polkadot ecosystem to Ethereum. Canto is a permissionless general-purpose blockchain, which is Ethereum Virtual Machine (EVM)-compatible with aims to onboard the traditional financial sector to decentralized finance applications.Upon an official agreement reached by Canto Commons — a framework where contributors coordinate ideas and solutions to the protocol — its core developers will build a ZK rollup on Ethereum’s second layer, Polygon Labs explained on Sept. 18:“By leveraging a shared ZK bridge, Canto will eventually tap the liquidity of a unified Polygon ecosystem with easy access to Ethereum.”Polygon Labs said Canto will “inherit” Ethereum’s security, enabling more decentralization and trustless guarantees when bridging assets over:“User security comes by way of a best-in-class and in-production ZK prover, meaning community security is ensured by cryptography and inherited from Ethereum, rather than the social-economic incentives of fraud proofs.”Neofinance at scale - Canto is migrating to a ZK-powered Ethereum L2, built with @0xPolygon CDK.The @CantoPublic community will tap Ethereum’s deep liquidity via a shared ZK bridge without sacrificing user security – a big stride toward neofinance.https://t.co/8uDhLYk1G9— Polygon (Labs) (@0xPolygonLabs) September 18, 2023 There will be no changes to Canto’s validators or staking system, Polygon Labs added.Canto follows moves from AstarCanto joins the likes of Astar, Gnosis Pay, Palm and IDEX to have announced plans to build ZK layer 2s using Polygon’s Chain Development Kit in recent months, according to Polygon Labs co-founder Sandeep Nailwal.On Sept. 13, the Astar team announced it will soon begin building its own Ethereum layer-2 scaling solution, named Astar ZK-Ethereum Virtual Machine (EVM), also using Polygon’s CDK.“We are building a trustless bridge to Ethereum with high EVM equivalency right out-of-the-box, so dApp developers can use existing tools to build solutions across our entire ecosystem,” the Astar team explained in a Sept. 14 statement.I’m excited to welcome @AstarNetwork, the leading @Polkadot chain to Ethereum. They are going to launch a zkEVM chain using @0xPolygon CDK, an Ethereum L2 secured by ZK!@AstarNetwork is the leading blockchain of Japan. After launch, it quickly became among the most notable… pic.twitter.com/0SgYE6ENet— Sandeep Nailwal | sandeep. polygon (@sandeepnailwal) September 13, 2023 Polygon Labs hopes the ZK-powered chain will enable businesses to implement Web3 solutions with increased speed, scalability, and security in Japan — where Astar is based — and around the world.Ryan Sean Adams, co-host of Ethereum show Bankless said the two most recent migrations to Ethereum could be the start of a rollup avalanche.The largest chain from polkadot just moved to Ethereum. (Astar)The largest public commons chain from Cosmos just became a Polygon Validium. (Canto)And...I hear the world's first Solana Virtual Machine (SVM) L2 is dropping tomorrow. Ethereum rollups are eating the world.— RYAN SΞAN ADAMS - rsa.eth (@RyanSAdams) September 18, 2023 Not every protocol is sticking around on EthereumMeanwhile, some protocols appear to moving the other way. Decentralized exchange dYdX announced its intention to build a “purely decentralized” order book exchange on Cosmos as part of a plan to migrate away from Ethereum in early September.Another Ethereum-native protocol, Maker, signaled plans to move to cut ties with Ethereum and build a new, more “efficient” chain with Solana’s codebase in September too.Maker’s co-founder Rune Chistensen added Solana currently stands as the “most promising” ecosystem to explore as it proved its resilience during the FTX debacle and has a high-quality pool of talent developers building on Solana.The last phase of Endgame

is the launch of a native blockchain for Maker with the codename NewChainIt will make the ecosystem more secure and efficientAfter some research, I believe the Solana codebase should be considered as the basis for NewChainhttps://t.co/KyGxBBGlVH— Rune (@RuneKek) September 1, 2023 Nonfungible token collection OnChainMonkey is also shifting its entire collection of 10,000 NFTs from Ethereum to Bitcoin. The team behind the protocol cited a more secure base layer and a thriving Bitcoin Ordinals ecosystem as the main reason behind the migration plan. Source

[coinnewz]

Chainlink's cross-chain protocol bridging blockchain to TradFi

The development firm behind the Chainlink protocol and its native LINK token has gone live with its cross-chain protocol, aimed at providing interoperability between traditional financial firms and both public and private blockchains. In a July 17 post on the Chainlink blog, Chainlink  Labs' Chief Product Officer Kemal El Moujahid announced that its Cross-Chain Interoperability Protocol (CCIP) has launched under early access on Ethereum, Avalanche, Polygon, Arbitrum, and Optimism. Developers on these platforms will have access to CCIP on their respective testnets on July 20. 1/ The Chainlink Cross-Chain Interoperability Protocol (CCIP) has officially launched on Avalanche, Ethereum, Optimism, and Polygon mainnets.#LinkTheWorld pic.twitter.com/SdLVyaapg3 — Chainlink (@chainlink) July 17, 2023 CCIP is an interoperability protocol that allows enterprises to transfer data and value between public or private blockchain environments directly from their backend systems. Chainlink’s interoperability solution uses Swift’s messaging infrastructure, which is used by over 11,000 banks around the world to facilitate international payments and settlement. In 2021 alone, the network settled about $1.8 quadrillion in transactions from over 11,000 member banks, according to the UnIted States Financial Crimes Enforcement Network. A diagram depicting how financial institutions can use CCIP to transact on-chain.Source: Chainlink. Chainlink co-founder and CEO Sergey Nazarov explained on July 17 that CCIP aims to create a bridge the on-chain and off-chain worlds: “Just like key standards such as TCP/IP remade a fragmented early internet into the single global internet we all know and use today, we are making CCIP to connect the fragmented public blockchain landscape and the growing bank chain ecosystem into a single Internet of Contracts.” An interoperability solution that can seamlessly transmit value between networks will be a critical building block for a blockchain-powered society, Nazarov added. Among the other financial institutions exploring the use of Chainlink’s interoperability solution includes BNY Mellon, BNP Paribas, Citi, Australia and New Zealand Banking Group, Clearstream, Euroclear and Lloyds Banking Group, according to Chainlink. Related: Chainlink Labs offers proof-of-reserve service for embattled exchanges In addition to the five blockchains integrating CCIP, decentralized finance protocol AAVE is set to implement the interoperability solution, while decentralized derivatives platform Synthetix is already live on the  CCIP mainnet. The price of the Chainlink token, LINK, increased 9.7% to $7.27 over the past eight hours while the rest of the market remained relatively neutral, according to CoinGecko. The LINK token surged 7.5% following the news of CCIP’s launch on mainnet. Source: CoinGecko Cointelegraph reached out to Chainlink Labs for comment but did not recieve an immediate response. Magazine: Here’s how Ethereum’s ZK-rollups can become interoperable Source link Read the full article

[cryptosnewss]

Cardano's First Scaling Solution Based on ZK Rolloups to Support DeFi Innovation

Cardano’s First Scaling Solution Based on ZK Rolloups to Support DeFi Innovation

The Cardano blockchain will have its first ZK rollup layer 2 solution – Orbis. The primary focus is to support decentralized finance (DeFi) applications and a thriving blockchain ecosystem. A wave of ZK companies The official blog post from the team behind the protocol explained that Orbis offers the level of scalability and transaction throughput relevant for the blockchain to evolve into a…