Vitalik Buterin, Ethereum’s co-founder, has proposed a new concept: the “enshrined Zero-Knowledge Ethereum Virtual Machine (zkEVM).”

This initiative aims to enhance the efficiency and security of Ethereum’s Layer-2 protocols, particularly optimistic and ZK rollups, which are crucial for the network’s scalability.

Vitalik Buterin’s zkEVM Layer-2 Solution

In a recent blog post, Vitalik Buterin highlighted the evolving strength of Ethereum’s “light clients.” They are set to improve, soon being able to use zero-knowledge cryptography for verifying transactions on the primary chain.

This development, Buterin notes, will effectively integrate a zkEVM into Ethereum, leading him to propose its potential use for rollup protocols as well.

Ethereum’s Layer-2 protocols are crucial for the blockchain’s scalability but rely heavily on EVM verification. The current method has a large and potentially vulnerable codebase, which creates several challenges.

zkEVMs, designed to replicate the Layer-1 EVM, struggle to keep up with updates in the Ethereum protocol, leading to duplicated efforts and increased security risks.

A post on benefits and challenges of enshrined ZK-EVMs at layer 1:https://t.co/bRTKdtaFRL

There’s different options and the tradeoffs get complex!

— vitalik.eth (@VitalikButerin) December 13, 2023

Addressing these issues, Buterin suggests embedding a zkEVM directly into the Ethereum blockchain. This internal zkEVM would take on the task of verifying Layer-1 Ethereum blocks, offering a more efficient and secure approach.

Buterin envisions the proposed zkEVM’s main focus on verifying Ethereum blocks by processing inputs like a pre-state root, a block, and a post-state root. This ensures the integrity of the post-state root as a true outcome of block execution.

According to Buterin, Implementing the zkEVM presents several design challenges and trade-offs. It requires compatibility and adaptability to support various proving systems, reflecting Ethereum’s multi-client environment.

It’s also essential to provide data availability to satisfy different clients while ensuring auditability and upgradeability for easy inspection and quick issue resolution without hard forks. The system must also support innovations in ‘Almost-EVMs,’ permitting Layer-2 solutions to extend and innovate upon standard EVM functionalities.

Buterin also advocates for an open system, where proofs are verified externally, for its flexibility and compatibility with Ethereum’s core values despite its higher complexity.

Speed is also a critical aspect of zkEVM implementations. The objective is to reduce the proof generation time, enabling near-instantaneous processing using technological advancements in parallelization and hardware acceleration.

Potential Impact on Layer-2 Projects

Buterin’s proposal could significantly impact existing Layer-2 projects like Polygon, Matter Labs, and Scroll, which have invested heavily in aligning with Ethereum’s earlier roadmap.

Buterin, who has for years pushed Ethereum down a “rollup-centric” roadmap, has assured that Layer-2 networks will continue to play an essential role, responsible for functions like fast pre-confirmations, MEV mitigation strategies, extensions to the EVM, and user and developer conveniences.

He notes that these teams are crucial in attracting users to their ecosystems and are compensated through capturing MEV and congestion fees within their networks. This relationship is expected to continue under the new plan.

The post Vitalik Buterin Proposes ‘Enshrined zkEVM’ to Address Ethereum’s Layer-2 Challenges appeared first on CryptoPotato.

Cronos Labs introduces the Cronos zkEVM Chain testnet on the Ethereum Sepolia testnet.

Cronos Labs says the new chain is the first public testnet utilizing the ZK Stack framework.

Cronos Labs, the pioneering force behind the Cronos ecosystem, has unveiled its latest leap into the realm of web3 innovation with the launch of the Cronos zkEVM testnet blockchain network. This layer-2 network, introduced on the Ethereum Sepolia testnet, marks the dawn of a new era in second-tier projects that strategically nestle within the Ethereum ecosystem.

The new “Cronos zkEVM Chain,” launching initially as a test platform, leverages Matter Labs’ software tools. These tools empower the creation of layer 2 and layer 3 “hyperchains” on the Ethereum foundation and show a commitment to scalability and efficiency.

Cronos zkEVM Chain Uses zkSync Tech

The testnet, powered by zkSync’s ZK Stack software kit, a brainchild of Matter Labs, introduces a new chain to the existing Cronos ecosystem, featuring the Cronos EVM blockchain and Cronos PoS chain. Further, Crypto.com, a prominent crypto exchange partner with Cronos Lab, actively contributes to the PoS chain’s source code.

Closing the year with a new #CROFam chapter: Introducing the Cronos zkEVM Chain Testnet, built on @zksync's ZK Stack Technology An exciting opportunity for Cronos dapps to experiment with ZK layer 2 technology, join us on this journey! Dive in: https://t.co/KvlWeY5Lyk pic.twitter.com/SUl4Y6UpvS

— Cronos (@cronos_chain) December 14, 2023

The Cronos zkEVM testnet stands out as a hyperchain utilizing the ZK Scalable Transparent Argument of Knowledge (STARK) modular framework. Positioned atop the Sepolia faucet, it draws security from the Ethereum testnet concerning final settlement and data availability.

Cronos Labs states that the new chain is the first public testnet using the ZK Stack framework, running alongside Ethereum’s mainnet. The zkEVM testnet, a hyperchain, will integrate a native bridge to Ethereum by 2024.

Further, the Boojum STARK-based zero-knowledge proof system elevates the zkEVM testnet, known for low fees and GPU compatibility (16GB RAM minimum). Ongoing cost optimizations aim to maintain a competitive edge within layer 2 rollups.

The network utilizes TCRO, a testnet version of the CRO cryptocurrency from the Cronos ecosystem, as its native token for transaction fees. Additionally, it has the flexibility to support fee payments in any cryptocurrency. Moreover, internal benchmarks demonstrate the zkEVM testnet’s ability to exceed 100 transactions per second through hyperchain technology.

The Astar Network, a smart contract platform for multi-chain, announced the launch of its zero-knowledge (ZK) Ethereum layer-2 solution, zKatana, to enhance interoperability with Ethereum-compatible chains.

The zKatana testnet

zKatana refers to the project’s Japanese roots, which depict a served blade used by feudal samurais in combat. The project is a zero-knowledge EVM (zkEVM) scaling solution on Ethereum (ETH) designed to increase interoperability between Astar and EVM-compatible chains.

The layer-2 zkEVM solution is an addition to the tech stack of the Astar Network, comprising a variety of tools and products that offer companies and developers the best technology stacks needed to build their projects. 

You might also like: JR Kyushu Railway Company launches NFTs on Astar Network to boost customer engagement

zKatana would allow developers to test their innovative ideas while allowing Astar to test and confirm their theories on the network’s functionality and verify its hypothesis on such parameters as gas usage. 

The layer-2 solution is powered by the Polygon Chain developer kit, which uses ZK proofs to verify transactions. The testnet provides a bridge that enables testnet ETH to be moved to Astar zkEVM.

This high EVM equivalence allows developers to execute their existing smart contracts on zKatana. Additionally, the testnet includes a faucet for users to claim zkEVM ETH, and a blockchain explorer to view transactions on the network.

Commenting on the launch, Maarten Henskens, the head of the Astar Foundation, said:

“We’re thrilled to launch our Astar zkEVM testnet and invite our community and builders to try out what the future of scaling Ethereum will look like. It’s been an exciting few days collaborating with amazing partners to prepare for the launch of our testnet and the coming mainnet. With this testnet phase, we want to focus on verifying our hypothesis and investigate parameters that will ultimately provide the best user experience for our mainnet launch. I can’t wait to see the reactions once we start sharing the names of our partners that will come to zkEVM.”

Astar partners with enterprises to build on zKatana

The EVM compatibility allows zKatana to benefit from Ethereum’s established security and tools while reducing the cost of transactions. In addition, Astar has partnered with Gelato, Layer-0, Alchemy, and Rarible to test the capacity of the zKatana testnet by building on it.

 The zKatana testnet launch is focused on providing enterprises with the secure, scalable, and gas-efficient platform needed to provide their products or services. 

Developers can also take part in testing the Astar zkEVM by checking the documentation and connecting with the Astar team by signing up.

Read more: Astar Foundation launches Polkadot’s Relayers Incubator program

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Coinspeaker Crypto.com Partner Cronos Launches Layer 2 zkEVM Testnet Chain with Matter Labs

Cronos Labs, the name behind the Cronos blockchain, and a partner to Crypto.com, has announced a new layer 2 platform built for the Ethereum network. Cronos Labs has now joined a growing list of services working on improving Ethereum’s scalability by building and launching off-chain networks. The platform is initially available as a public testnet.

📖 Closing the year with a new #CROFam chapter: Introducing the Cronos zkEVM Chain Testnet, built on @zksync's ZK Stack Technology

🤝 An exciting opportunity for Cronos dapps to experiment with ZK layer 2 technology, join us on this journey!

👉🏻 Dive in: https://t.co/KvlWeY5Lyk pic.twitter.com/SUl4Y6UpvS

— Cronos (@cronos_chain) December 14, 2023

Cronos Launches Layer 2 Testnet for Scalability

In a Thursday blog post, Cronos said launching the Cronos zkEVM Chain testnet is a “significant milestone” towards achieving its aim of mainstream adoption in addition to scalability. The launch is in collaboration with Matter Labs and uses its zkSync technology. Cronos also notes that building the platform involved engineering teams from Crypto.com, Veno Finance, Fulcrom Finance, and VVS Finance. According to Cronos Labs, the new chain is the first-ever public testnet that uses ZKStack.

Transactions on the testnet are processed using TCRO, a testnet version of Cronos’ native $CRO cryptocurrency. Nonetheless, zkSync’s native account abstraction, which is available on the base protocol level, supports fee payment in other cryptocurrencies.

Matter Labs Senior Vice President of Business and Operations Marco Cora explained that launching ZK Stack “opened up the door” for developers to use hyperchains to build on the Ethereum network. Cora states that the technology helps anyone with their projects, whether its a general-purpose chain or a specialized Rollup. The Matter Labs exec then expressed excitement at Cronos launching a hyperchain, bringing more attention to the adoption of hyperchains.

Cronos Metrics and Features

According to Cronos Labs Managing Director Ken Timsit, the new testnet chain is a great opportunity for the startup and its partners. It helps all parties properly experiment with zk layer 2 technology to prepare for growth in 2024. Timsit, suggests that Cronos’ current metrics already puts the platform in the best position for this. The Cronos exec said:

“The Cronos ecosystem already includes a top 10 blockchain by Total Value Locked, a top 5 Cosmos network by staked amount, a top 30 cryptocurrency, and a major EVM-compatible app ecosystem with more than 500 projects. More remains to be done in order to prepare for the next wave of Web3 adoption.”

As part of its features touted by Cronos Labs, the zkEVM testnet uses the Boojum STARK-based zk (zero-knowledge) proof system, which allows processes to run efficiently with as little as 16 GB of RAM on a GPU. In addition, Cronos says the chain “boasts amongst the lowest fees” of all layer 2 rollups. Notwithstanding, the startup plans to optimize costs further sometime soon.

$100 Million Accelerator Program

Cronos has repeatedly invested in new projects, recently launching its third accelerator program in September. Focusing on startups working on projects using blockchain technology and artificial intelligence (AI), Cronos Labs is pumping $100 million into the program.

Lasting 12 weeks, the program will offer top-notch resources and support, in addition to financial help. The program is highly competitive, with several startups competing for money, in addition to access and help with innovation and mentorship. Tech giants signed up to assist participants include Amazon Web Services (AWS) and Google Cloud. In addition, Certik and PeckShield are also on board as blockchain security partners.

Cronos rebranded from “Crypto.org Coin” to reflect its decentralized nature and push into the adoption and utilization of Web3. Powered by Ethermint, the Cronos blockchain promotes interoperability between Ethereum and Cosmos. Within three months of launch, Cronos recorded impressive growth, with over 350,000 unique wallet addresses. In the same period, the platform also supported more than 120 decentralized application (dApp) builders.

next

Crypto.com Partner Cronos Launches Layer 2 zkEVM Testnet Chain with Matter Labs

🚀🌐 #PolygonMATIC #DeFi2024 #BlockchainInnovation 🌟💡
Dive into the future of decentralized finance with our latest deep-dive article: "Polygon (MATIC) $MATIC in 2024: Navigating the Future of DeFi and Blockchain Innovation." Explore the technological advancements, market trends, and strategic partnerships shaping Polygon's journey in the DeFi universe.
#Layer2Scaling #CryptoTrends #PolygonNetwork #zkEVM #DeFiGrowth
⏰ Estimated Read Time: 7 - 8 min
As the DeFi and blockchain realms continue to evolve in 2024, Polygon (MATIC) emerges as a key player, driving innovation and expansion. Known for its Layer 2 scaling solutions, Polygon is strategically positioned to reshape the DeFi ecosystem while facing its unique set of challenges. In this article, we explore the trajectory of Polygon in 2024, examining its advancements, opportunities, and potential hurdles.

Polygon in 2024: A Convergence of Opportunity and Challenge
1. A Thriving DeFi and NFT Landscape: Polygon's role in the growing DeFi and NFT sectors is set to expand. Its low transaction costs and high throughput make it an attractive platform for emerging NFT projects, providing a cost-effective alternative to Ethereum. This could lead to increased adoption and growth within these burgeoning markets.
2. Technological Innovations: The Edge of zkEVM and Interoperability: Polygon's development of zkEVM signifies a major step in blockchain scalability and privacy. This technology enhances Polygon's efficiency and offers a more cost-effective solution for transactions. Additionally, Polygon's emphasis on interoperability positions it as a versatile player in the multi-chain ecosystem, enabling seamless asset and data transfer across networks.
3. Synergy with Ethereum 2.0: The rollout of Ethereum 2.0 poses a unique dynamic for Polygon. While Ethereum 2.0 aims to resolve scalability and efficiency issues, Polygon's existing user base and compatibility with Ethereum could see it remain a relevant and complementary solution in various scenarios.

4. Institutional Adoption and Diverse Use Cases: Polygon's scalability and technological innovations are attracting institutional interest. With its expanding use cases across various industries, from gaming to digital art, Polygon is poised to become a preferred choice for enterprise blockchain solutions.
5. Regulatory Landscape: Navigating the Future: The regulatory climate for cryptocurrencies and blockchain technology remains a critical area for Polygon. Its ability to adapt and comply with evolving regulations will be crucial in determining its long-term success and adoption.
6. Ecosystem Growth: Building a Robust Community: Polygon's investment in its developer community and ecosystem is key to fostering innovation and growth. The network effect, driven by an increasing number of projects built on Polygon, enhances its value proposition and attracts a wider user base.
Current Market Performance (as of the latest update):
Price: Approximately $0.8512 USD.24h Change: +0.84%.Market Capitalization: Around $8.14 billion USD.Fully Diluted Market Cap: Approximately $8.512 billion USD.24h Trading Volume: Around $290.308 million USD.Volume / Market Cap Ratio: 0.0368.All-Time High: $2.9249 USD.Circulating Supply: 9.563 billion tokens.Max Supply: 10 billion tokens.
Price Trends:
Recent Performance:1 Week: +1.03%.1 Month: +0.08%.6 Months: +14.47%.Year to Date: -12.27%.1 Year: -13.42%.5 Years: +100.33%.All Time: +119.89%.
Polygon's journey through 2024 is characterized by significant opportunities tempered by challenges. Its technological advancements, strategic position within the Ethereum ecosystem, and growing influence in the DeFi and NFT space position it as a formidable force. However, maneuvering through regulatory changes and maintaining a competitive edge in a dynamic market will be pivotal for its sustained growth and success.

Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research and consult with financial experts before making any investment decisions in the crypto market.

This is huge! 3 top narratives in one? Web3 Web3Gaming AND zkEVM !!! It's not financial advice but I wont be sleeping on this one

#Web3gaming #zkEVM #crypto2023

Vitalik Buterin Proposes zk-EVM Integration to Enhance Ethereum

Ethereum co-founder Vitalik Buterin recently discussed the integration of zero-knowledge Ethereum Virtual Machines (zk-EVMs) at Ethereum's base layer. The use of zk-EVMs could expedite the verification process while maintaining decentralization and security. Buterin emphasized Ethereum's "multi-client philosophy" and explained how introducing zk-EVMs at layer 1 would create a third type of client. He also cautioned against transferring most activities to layer 2, as it could make layer 1-based apps economically nonviable.

Buterin elaborated on an "open" zk-EVM system that would necessitate different clients with distinct zk-EVM implementations, preserving the "multi-client" paradigm and facilitating the development of new clients. The implementation of the zk-EVM ecosystem would simplify the process of running a full Ethereum node, with Ethereum blocks being smaller, and anyone could operate a fully verifying node on various devices.

Polygon recently open-sourced its zkEVM to the Polygon mainnet, promising to decrease transaction costs and increase the throughput of smart contract deployments. Other organizations are also working on zk-EVM scaling solutions.

In conclusion, Buterin's contemplation of zk-EVMs at Ethereum's base layer showcases a commitment to balancing scalability with the platform's core values of decentralization and security. The Ethereum ecosystem may experience significant advancements in efficiency, accessibility, and decentralization as layer 2 solutions progress and zk-EVMs move closer to implementation.

Takeaways:

Ethereum co-founder Vitalik Buterin proposes integrating zero-knowledge Ethereum Virtual Machines (zk-EVMs) at Ethereum's base layer.

Introducing zk-EVMs at layer 1 would create a third type of client, preserving the "multi-client philosophy" of Ethereum.

An "open" zk-EVM system would necessitate different clients with distinct zk-EVM implementations, facilitating the development of new clients.

Polygon recently open-sourced its zkEVM to the Polygon mainnet, promising to decrease transaction costs and increase smart contract deployment throughput.

Buterin's proposal showcases a commitment to balancing scalability with decentralization and security.

Disclaimer: This article is for informational purposes only and is not intended as legal, tax, investment, financial, or other advice.

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