As a seasoned researcher with a keen interest in blockchain technology and its potential to reshape our digital future, I find the ambitious goals set by ZKsync truly inspiring. Having closely followed the developments in the space, I can attest that achieving 10,000 transactions per second (TPS) while maintaining transaction fees as low as $0.0001 is no small feat.
By 2025, ZKsync aims to reach an impressive milestone of handling more than 10,000 transactions each second, while simultaneously lowering transaction costs to a mere $0.0001.
ZKSync serves as a scale-up strategy for Ethereum’s primary network, enhancing its capacity, safety, and confidentiality through the application of Zero-Knowledge Proofs (ZK-verifications).
As a crypto investor, I’m excited about ZKsync’s commitment to enhancing user experience. Their goal, as outlined in their 2025 roadmap (shared in a December 12 blog post), is to significantly boost performance to over 10,000 transactions per second and slash transaction fees down to an impressive $0.0001. This promising future development has me looking forward to seamless, cost-effective interactions with the ZKsync network.
ZK Stack and Elastic Network to become top choices for blockchain builders in 2025
The roadmap outlines plans to refine ZKsync’s Elastic Network and ZK Stack, positioning them as preferred tools for blockchain builders.
Reaching more than 10,000 transactions per second (TPS) with a median transaction fee as low as $0.0001 for Ethereum-compatible ERC-20 tokens by the end of next year would make ZKsync’s technology an attractive choice for developers.
At the core of its operation, ZKsync emphasizes promoting individual investor autonomy and boosting widespread use of cryptocurrencies, as expressed in a December 12 blog post.
“Today, Web2 builders are forced to make tradeoffs between Web3’s values and usability, often opting for centralized developer platforms. ZKsync’s answer is to create an elastic, cloud-like development environment without builders to choose between UX, performance, and security.”
Privacy-preserving technologies could bring more mainstream crypto adoption
Mainstream institutions tend to avoid participating in the Decentralized Finance (DeFi) sector primarily due to the scarcity of well-defined legal structures within the Web3 environment.
According to Remi Gai, the founder of Inco, it’s possible that technologies based on confidential computing might encourage more institutions to join the crypto market, potentially leading to higher liquidity levels.
During the FHE Summit 2024, Gai told CryptoMoon that privacy is important to institutions:
“Institutions are still having a hard time entering the space because everything is transparent. If you enable an experience similar to what they’re comfortable with in Web2, suddenly, this could bring more liquidity, use cases, bigger participants and money to enter the space.”
Financial institutions could greatly benefit from the advancements in confidential computing technologies. For instance, fully homomorphic encryption (FHE) methods allow calculations to be carried out on encrypted data without ever needing to decrypt it.
According to Gai’s analysis, the advancement of confidential computing might unveil a potential $1 trillion value within the cryptocurrency market as technology progresses.
2024 has seen a surge of attention towards privacy-focused technologies, including Zero-Knowledge proofs, driven in part by recent regulatory changes concerning confidentiality-centric protocols like the cryptocurrency tumbler, Tornado Cash.
The detention of Alexey Pertsev, a developer at Tornado Cash, was extended on November 23rd as he prepared for his upcoming court cases.
On November 26, there was a significant legal triumph when a three-judge panel from the Fifth Circuit Appeals Court ruled that the Office of Foreign Assets Control overstepped its boundaries by imposing sanctions on Tornado Cash’s unchangeable smart contracts. This decision overturned a lower court ruling and provided Tornado Cash users with a partial summary judgment.
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2024-12-13 14:03