zkSync | ZK rollup Is Now A Reality

It seemed like all last year towards the tail end all the hype was about a theory project called ZK rollups. In general what it does is allows a layer 2 tokens and blockchain on Ethereum to be able to have Zero Knowledge proofs (that's what the ZK stands for) and then roll it together to be broadcasted on to the Ethereum blockchain. This reduces fees but it also removes identity.

ZK rollup is now on Uniswap, Sushi, Maker and Curve are releasing zero-knowlege proof roll up zkSync today. This comes after four years of development (yep development takes time and is most likely why we see this 3-4 years bull run markets as ideas and projects that starting in the last bull run take that long before they are released for everyone to use.

There's also a host of other projects that will be releasing this as well. It's important to note however it's still considered in a "Alpha" phase.

What Does This All Bring

While ZK rollups and zksync allows for a massive amount of scaling of the Ethereum network through layer 2 tokens such as polygon it also has a host of other benefits. ZkSync also announced on March 22nd that it will be working with Wemixnetwork in order to help with blockchain gaming. This is one of the biggest issues with Ethereum based games such as gods unchained, axie etc. They all get hammered with massive transaction and broadcast fees as they try and hit the Ethereum network. With this new scaling feature it will cost just pennies to broadcast a lump sum of transactions every 30 seconds instead of hundreds every minute as people play games. This reduces network congestion and makes for a faster and smoother gameplay. Even waiting those few seconds for a Ethereum blockchain transaction and feel like an eternity.

ZK works smart by collection all of those battles, trades etc into one lump sum and then converting that into a small single transaction that hits the ethereum network thus allowing proof to happen fast and without any fees to the user which is also a major road block for a lot of games.

It's a big reason why I only really play games on the #hive blockchain and wax blockchain because of those zero fees. No one wants to pay a bunch of micro transactions to just play a game.

Single Point Of Failure?

The worry by many on this is if one small group or collective will have control over these transactions. For now that is the case and it's done in a way so that the team can quickly implement fixes and changes as needed while in this Alpha phase. I suspect in Beta phase we will see that start to open up to be more decentralized as the teams goal is to ultimately have this running native without any big input from them.

Overall it's a huge advancement to the Ethereum blockchain again along with layer 2 solutions.

Posted Using LeoFinance ^Beta