Last week, an English Twitter SPACE with the theme “Looking for opportunities of ZK Rollup (Looking for ZK Rollup opportunities)” attracted widespread attention from overseas cryptocurrency circles.
The reason why this SPACE has attracted much attention is not only because several high-quality projects in the industry were invited to speak as guests, but the deeper reason is that the continuous development of Layer 2 technology has become an important development direction of blockchain technology, and the encryption giants The successive layout of the industry is also an important trend in the development of the entire industry.
The following are some excerpts compiled and translated by the editor for your reference:
1) What is ZK Rollup? Why are they so important?
Explained in plain language, ZK rollup is like adding a superpower to the blockchain to make it more powerful. It enables faster transactions on the blockchain and reduces the fees required for transactions. You might be wondering why it’s called “zero knowledge”. This is because in ZK rollup, the transaction verification process uses a special technology called “zero-knowledge proof”. This technique can prove that the transaction is valid without revealing any transaction details. You can imagine a kind of magical magic that allows you to ensure the safety of transactions without requiring you to communicate or trust each other.
Unlike current Ethereum transactions that are entirely on-chain, ZK rollup also introduces off-chain functionality. This means that some transactions can be performed off-chain and the results submitted to the blockchain. This combination not only ensures security, but also improves transaction speed.
By using ZK rollup, you can enjoy many benefits. First, it can drastically reduce your transaction fees, making your wallet more cost-effective. Second, it can speed up the confirmation of transactions, and you no longer need to wait for a long time for the transaction to complete. Most importantly, it increases the security level of transactions, allowing you to trade with more confidence.
So, with ZK rollup, you can transact in a more cost-effective, faster and safer way. This is a big step forward for the development and popularization of blockchain, allowing more people to easily participate in it.
The full name of ZK is Zero Knowledge (Zero Knowledge Proof), which can prove the authenticity of a data transaction without revealing any other information. This concept is difficult to understand, we use an example to explain, ZK is like a very safe way to open the door without a key.
In Ethereum, Rollup is regarded as a key element of ETH expansion. Rollup’s solution is to move calculations and transactions off-chain and free up more space on Layer 1 to make it more secure and faster. I think Rollup is a really cool scaling solution. It is of great significance to fields such as DeFi, games, and social networking, because the user experience will be upgraded to the Web2 level, and no one will complain that DAPP is too slow or too stupid.
This is Layer2, which solves the problem of slow TPS and high gas cost of Layer1. Currently, mainstream Layer 2 project forms include Optimistic Rollups and ZK Rollups. The famous OP Rollups include Optimism and Arbtrium, and ZK Rollups include zkSync, StarkNet, and Linea.
2) Are there any other projects worthy of participation in the future?
Personally, I have a positive view on projects like ZkSync. In the long run, ZK may become the best scalability technology, especially for some public blockchain projects like StarkNet and ZkSync. They have built a strong and complete ecosystem, providing users with rich functions and choices.
It should be noted that StarkNet is not a “zkEVM”, which means that smart contracts need to be written in Cairo, StarkNet’s own programming language. This makes developers need to adapt to the new programming environment, but also brings them greater flexibility and creativity.
As a participant, I also participate in some projects in these ecosystems. For example, StarkNet provides a variety of games, bringing users a variety of entertainment options; while ZkSync provides users with a wealth of DeFi products to help them realize asset value-added and management.
While there may be room for improvement in the user experience at the moment, I firmly believe that these projects will continue to be refined and optimized over time to bring users a better experience. We are in the early stages of the development of blockchain technology, and the advancement of these projects will bring more opportunities and innovations to the entire industry.
As I said, there are excellent Layer 2 projects such as Arbtrium and zkSync. They are very worthwhile projects. However, I personally highly recommend zkSync, StarkNet, and Linea, three well-known projects. This is because these projects have not yet issued tokens, and we have the opportunity to receive airdrops. In addition, many ecosystem DAPPs have migrated to these Layer 2 networks. I believe that everyone here has deeply realized the greatness of cryptocurrency.
3) Do you have plans to deploy on any Layer2 projects?
certainly! We plan to deploy our platform on various second-layer projects in the future. We deeply understand the importance of scalability and cost-effectiveness in creating a great Web3 gaming experience. Through tight integration with second-layer solutions, we aim to provide users with faster transaction speeds and lower gas fees, thereby bringing them a smoother and cost-effective gaming experience.
Our team is actively exploring various second-layer projects, including ZkSync, Optimism, and StarkNet, among others. Our goal is to find the solution that best fits our platform needs and further enhance the user’s gaming experience. It’s been an exciting journey, and we’re doing our best to assess the strengths and weaknesses of each project, while thinking about potential partnerships to help us achieve our goals.
We are passionate about continuously pursuing innovation and enhancing user value in this ever-evolving field. We believe that by cooperating with excellent second-layer projects, we will be able to provide users with a more attractive and excellent gaming experience while contributing to the development of the entire Web3 ecosystem.
Currently, ZK Rollup is still in a very early stage of the ecosystem. And now is the perfect time for a blockchain team to build a project. Our product is a decentralized tool with on-chain data as its core. We are very optimistic about zk evm technology, so we will show you our strength in ZK WORLD. In the long run, with the further development of zk evm technology, it is believed that ZK will become the best solution for Rollup and the first choice for many blockchain projects.
As a popular section, Layer2 involves rich content and knowledge. If you want to know more, please click “Read the original text” at the bottom left or copy the link ? to your browser to listen to the detailed review of this SPACE event (full English): https://twitter.com/LenaBelleCrypto/status/1676921813186772993