- ZK -rollups give superpowers to ETH blockchain.
- Overall performance and scalability mainly in terms of cost for the ERC-20 has improved drastically with ZK-rollups.
- ZK-rollups may be the future for ERC-20.
The Ethereum (ETH) blockchain has always been the best blockchain network till date. However, the network’s certain drawbacks especially it’s efficiency in terms of scalability proved to be a major hindrance. This in turn brought rise to more new and efficient blockchains with the pass of time.
Yet, all this never stopped the ETH network from being the most widely used, owing to its adaptability and proficiency in it’s transactions. The higher prices and gas fees alone owed to be a major drawback for ETH network holding it back.
All these terms to be whipped out with the launch of the ETH 2.0, which is still not yet out. In spite of all this, the Zero Knowledge (ZK) rollups aspires to boost up ETH blockchain, as it reduces the gas fees for the network abruptly.
The True Action of ZK-rollups
The major point how the ZK-rollups, helps in making ETH network superior is by reducing the prices. This is achieved by the ZK-rollups by two means.
One is that, with the ZK-rollups, all the network processes are being run out of the blockchain and the final end is being onto the blockchain through validity proof.
The second is that, the ZK-rollups cover up all the data and processes to be transacted into a single transaction together and send them in a single transaction through only one block.
Therefore, this reduces the number of transactions and data transfer, ultimately reducing the processing time and indirectly the cost incurred.
In spite of all this, the ZK-rollups has now become a prominent term among the crypto community in a very short period of time.
Polygon Co-founder’s Views
It is known that the Polygon (MATIC) is basically based on the ETH blockchain. Besides, Polygon has recently acquired a project termed as Mir. To the astonishment the base of the project Mir, is with two attributes, the PLONK and HALO. The note here is that both these attributes are a ZK-rollups strategy.
In spite of this the co-founder of Polygon, Sandeep Nailwal terms that this move in acquiring Mir with an investment of 250 million MATIC is to encourage and develop more such strategies towards increasing the scalability upon the ETH blockchain.