Zk Rollup Emerges as a Game-Changer for Scalable and Secure Blockchain Transactions in 2023

What is Zk Rollup?

One approach to achieving scalability on the Ethereum network using zero-knowledge proof technology is Zk Rollup.

With the help of Zk Rollup technology, it will be possible to combine several transactions and Rollup blocks and provide proofs for the Off-chain block.

Without re-executing transactions, Ethereum’s smart contracts will verify transaction proofs.

Gas costs are decreased because computations and transactions for proof-of-concept verification are less expensive.

Features of Rollups technology

• Perform transactions outside of the Layer 1 network.
• Layer 1 is where transaction data or proof is first started.
• Transaction data recorded on Layer 1 is used to execute smart contracts in the Layer 1 network precisely on Layer 2.
• Operators (Operators) are required by Rollups technology to lock a portion of Rollup contracts. In order to ensure network transparency, this encourages operators to carry out transaction verification accurately.

Highlights of Zk Rollup

Compared to other technologies such as Plasma, Sidechain… Zk Rollup is more efficient and chosen by many projects to develop.

Here is a table comparing Zk Rollup with other technologies:

Currently, the outstanding features of Optimistic Rollup, Zk Rollup has been developed to be complete in the future. Due to the completion time (the process of verifying the validity of the transaction) this technology is rated higher than the Optimistic Rollup.

With Optimistic, transactions will be proven valid within 7 days if no evidence of fraud is detected. As for Zk Rollup, transactions will be proven valid through proofs without re-implementing or using many operations that increase gas fees.

Classify

Layer 2 projects using this technology are currently classified by uses as:

• Use Zero-knowladge Proof scheme
• Store data on-chain or off-chain

Disadvantages

• Only transaction payments make use of this technology’s applications.
• Data aggregation is not currently supported by this technology, and even though applications developed in the same Layer 2 but using distinct Zk Rollups cannot communicate with one another.
• The logic of smart contracts must be understood and written in a particular language by developers who want to create DApps. This complicates the language’s structure and calls for a high level of expertise.

Future plans for Zk Rollup

Future Layer projects utilizing Zk Rollup technology will permit the installation of any apps on the network while still utilizing the Layer 1 network’s security.

These solutions must also maintain a significantly lower cost than Layer 1 while yet providing the best possible use for users in order to solve the Layer 1 scalability problem.

Top layer 2 projects using Zk Rollup technology

It is clear that among the top 10 layer 2 projects, Zk Rollup technology is used in 4 projects whereas optimistic Rollup technology is used in 4 projects.

Successful ZK Rollup initiatives consist of:

• dYdX
• Loopring
• ZkSync
• ZKSpace
• ZkEVM
• StarkNet
• Polygon Hermez

Conclusion

Waytrade.net introduced Zk Rollup and its key features to you through the aforementioned article. Layer 2 projects are still in production right now, therefore let’s watch and profit by investing in or taking part in airdrop, retroactive…

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