Introducing ZK-Rollup by Nil Foundation
Nil Foundation, a blockchain cryptography firm, is set to launch a ZK-Rollup, which is a form of Layer 2 network on Ethereum that incorporates sharding technology. This Layer 2 solution will operate as a zkEVM, allowing existing Ethereum decentralized applications to run.
The main objective of Nil Foundation is to offer an alternative approach to scaling by integrating multiple shards into a unified execution Layer 2. This approach combines modular and monolithic architectures to host data-intensive dapps.
The Purpose of Sharding
Sharding has been a crucial part of Ethereum’s roadmap strategy for enabling parallel transaction processing and validation, with the goal of reducing costs and increasing transaction speed. According to Nil Foundation, the deployment of zkSharding merges various architectural principles. The architecture consists of a main shard, where zero-knowledge proofs authenticate transactions as part of the Layer 2 design, and sub-shards that serve to increase transaction capacity.
Competition and Funding
While Nil is well-known for its proof marketplace, its introduction of its own ZK-Rollup indicates its entry into a competitive space that features projects like Polygon zkEVM, zkSync, and Scroll. In January 2023, Nil Foundation raised $22 million in a funding round led by Polychain Capital.
Hot Take: Nil Foundation’s ZK-Rollup Revolutionizing Ethereum Scalability
Nil Foundation’s introduction of zkSharding for Ethereum represents a significant advancement in the scalability and performance of the platform. With the integration of sharding technology and zero-knowledge proofs, developers can now run high-load and data-intensive applications on Ethereum, marking a new era for decentralized sequencers, data availability solutions, exchanges, autonomous worlds, and more.
By
By
By
By
By