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

Blockchain.com Shutters Asset Management Subsidiary Amid Crypto Winter and Industry Turmoil
Blockchain.com Shutters Asset Management Subsidiary Amid Crypto Winter and Industry Turmoil According to reports and a filing that shows its name struck off the U.K. companies’ r
Thailand distributing digital money to 45M citizens to boost economy
Derek Andersen7 hours agoThailand distributing digital money to 45M citizens to boost economyThe controversial plan began as a campaign promise and will help lower-income Thais buy more.1292 Total views26 Total sharesLis
Safemoon Product Launch Hits a Snag, Project Bombarded by Accusations, Community Deflects Criticism
Safemoon Product Launch Hits a Snag, Project Bombarded by Accusations, Community Deflects Criticism A cryptocurrency project called Safemoon has been trending in
Sri Lanka Appoints Committee to Draft Digital Currency Policy, Seeks Crypto Investments
Sri Lanka Appoints Committee to Draft Digital Currency Policy, Seeks Crypto Investments In preparation to regulate its fintech space, the government of Sri Lanka has established a
Year-End Gold and Bitcoin Price Predictions from Regular Everyday People
Year-End Gold and Bitcoin Price Predictions from Regular Everyday PeopleJust recently, news.Bitcoin.com talked to a number of individuals and asked them to let us know what they thi
Kazakhstan Shuts Down Crypto Exchange That Transferred $34 Million Through Binance
Kazakhstan Shuts Down Crypto Exchange That Transferred $34 Million Through Binance Authorities in Kazakhstan have busted an illegal crypto trading platform, seizing over $350,000.
Hong Kong Presents Digital Currency Prototype, Project Aurum
Hong Kong Presents Digital Currency Prototype, Project Aurum Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank d
Bitcoin is more of a ‘billion-dollar building in cyberspace,’ argues Saylor
Brayden Lindrea3 hours agoBitcoin is more of a ‘billion-dollar building in cyberspace,’ argues SaylorThe MicroStrategy chairman argued that the U.S., Europe and China would be much more likely to embrace Bitcoin if i
Major Korean Banks Join Government-Backed Blockchain ID Initiative
Four more major institutions including the Shinhan and NH Nonghyup banks have joined a South Korean decentralized identity initiative that’s aimed to secure and share personal information using blockchain.
Tristan Greene12 hours agoXRP bucks trend as crypto assets experience 4th straight week of outflowsSolana slid into the outflow column this week as Bitcoin’s outflows streak continued.4138 Total views32 Total sharesLis
Report: Saudi Arabia Exploring Possibility of Implementing Blockchain in Government
Report: Saudi Arabia Exploring Possibility of Implementing Blockchain in Government The Kingdom of Saudi Arabia is looking into the possibility of implementing blockchain technolog
Shark Tank Star Kevin O’Leary Defends Support of Crypto Exchange FTX and Sam Bankman-Fried
Shark Tank Star Kevin O"Leary Defends Support of Crypto Exchange FTX and Sam Bankman-Fried Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has defended his support of the c