Fun

News Feed - 2023-09-08 06:09:44

Gareth Jenkinson14 hours agoEthereum’s proto-danksharding to make rollups 10x cheaper — Consensys zkEVM Linea headConsensys zkEVM Linea head Nicolas Liochon says speed and execution will continue to increase as it tweaks its Ethereum layer-2 scaling solution.11305 Total views5 Total sharesListen to article 0:00NewsJoin us on social networksZero-knowledge (ZK) proof solutions have proved critical in helping scale the Ethereum ecosystem, but proto-danksharding is expected to drastically reduce the cost of rollups, according to Consensys’ zkEVM Linea head Nicolas Liochon.


Speaking exclusively to Cointelegraph Magazine editor Andrew Fenton during Korea Blockchain Week, Liochon estimated that proto-danksharding could further reduce rollup costs by 10 times.


Proto-danksharding, also known by its Ethereum Improvement Proposal (EIP) identifier EIP-4844, is aimed at reducing the cost of rollups, which typically batch transactions and data off-chain and submit computational proof to the Ethereum blockchain.


The Ethereum Foundation has yet to nail down an expected launch date for proto-danksharding, but development and testing are still ongoing.


As Liochon explained, Linea delivers 15 times cheaper transactions compared to those made on Ethereum’s layer 1, but rollups are still limited by the fact that transactions are posted in call data in Ethereum blocks.


According to Ethereum’s documentation, rollups are still expensive in terms of their potential because call data is processed by all Ethereum nodes and the data is stored on-chain indefinitely despite the fact that the data only needs to be available for a short period of time.


EIP-4844 will introduce data blocks that can be sent and attached to blocks. The data stored in blocks is not accessible to the Ethereum Virtual Machine and will be deleted after a certain time period, which is touted to drastically reduce transaction costs.“In reality, the cost of rollups is down to data availability. We are writing all the data to layer 1, which is why we have exactly the same security. But it’s expensive; it represents 95% of the cost.”


Liochon said that Linea’s prover, which essentially handles the off-chain computation that verifies, bundles, and then creates a cryptographic proof of the combined transactions, only represents a fifth of the cost.


This highlights the major hurdle in making ZK-rollups the go-to scaling solution for the Ethereum ecosystem as opposed to other solutions like Optimistic Rollups.


Liochon also said that Linea aims to be a general-purpose ZK-rollup that will be used for a variety of decentralized applications and solutions within the Ethereum ecosystem.“We are a generic rollup. We don’t want to have a specific use case or specific domain. It’s quite important to support all types of applications, including DeFi, gaming and social.”


As Cointelegraph previously reported, Consensys completed the launch of Linea in August 2023, having onboarding over 150 partners and bridging more than $26 million in Ether (ETH).


Magazine: Here’s how Ethereum’s ZK-rollups can become interoperable# Blockchain# Ethereum# ConsenSys# zk-Rollup# zk-STARKAdd reactionAdd reactionRead moreWhat is profit and loss (PnL) and how to calculate itSaudi Arabia looks to blockchain gaming and Web3 to diversify economyHuman vs. AI: Who is better at crypto investing?

News Feed

Crypto Analyst Sets 3 Major Targets For XRP Price, Going As High As 4,800% Return
Este artículo también está disponible en español. Renowned crypto analyst, ‘Egrag Crypto’ took to X (formerly Twitter) to unveil three critical price targets for XRP
Brian Nibley2 hours ago3 reasons why Bitcoin traders anticipate BTC price to briefly sweep the $27.5K levelOverhead resistance levels continue to constrict Bitcoin price expansion, leading some analysts to forecast a bri
Martin Young3 hours agoOrdinals still make up majority of Bitcoin txs despite price collapseBitcoin Ordinals appear to be alive and kicking, with nearly 85% of Bitcoin network activity dominated by inscriptions and BRC-2
Kosovo Seizes Hundreds of Crypto Mining Machines in Crackdown
Kosovo Seizes Hundreds of Crypto Mining Machines in Crackdown Police in Kosovo seized another batch of over 200 mining devices as part of raids that started on Thursday. The offens
It won’t be long before crypto plays a role in daily payments beyond Lugano
Gracy Chen3 hours agoIt won’t be long before crypto plays a role in daily payments beyond LuganoThe Swiss city of Lugano is allowing its residents and visitors to use cryptocurrency for everyday transactions — includ
Digital Transformation Law Draft Would Allow Users to Pay Mortgages With Crypto in Spain
Digital Transformation Law Draft Would Allow Users to Pay Mortgages With Crypto in Spain A new proposal of a digital transformation law, written by a group of la
Homeowners Can’t Pay: US Lenders Prepare for Catastrophic Real Estate Market
Homeowners Can"t Pay: US Lenders Prepare for Catastrophic Real Estate Market The coronavirus has managed to seep into every facet of the global economy and it seems nothing will
Polkadot (DOT) Prints Classic Bullish Falling Wedge – Big Breakout Imminent
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin, Ethereum Technical Analysis: ETH, BTC Surge Over 10% as Big 2 Lead Crypto Rebound
Bitcoin, Ethereum Technical Analysis: ETH, BTC Surge Over 10% as Big 2 Lead Crypto Rebound As LUNA’s life support was all but switched off on Friday, BTC and ETH rallied, wi
Charles Hoskinson rejects Vitalik Buterin's view on pro-crypto voting
Amaka Nwaokocha26 minutes agoCharles Hoskinson rejects Vitalik Buterin"s view on pro-crypto votingThis clash of views comes as the 2024 U.S. presidential election approaches, with significant implications for the future
David Attlee13 hours agoEl Salvador Bitcoin ATM network to receive Lightning Network upgradeAthena Bitcoin plans to integrate the Lightning Network into 100 of its machines in the next couple of months.2283 Total views94
Texas Blockchain Council and Riot Platforms sue energy officials over crypto mining data
Turner Wright7 hours agoTexas Blockchain Council and Riot Platforms sue energy officials over crypto mining dataPlaintiffs in the lawsuit suggested that a mandatory Energy Information Administration survey for crypto min