A zero-knowledge rollup was launched on the Ethereum testnet. This essentially means that the system can avoid reliance on human operators as a means of validating its transactions. This is why zkSync deployment is considered a positive improvement in the eyes of developers.
ZK Rollups Are Now Live on the Ethereum Testnet, Which Can Lead To Lower Fees
Through an official Twitter (NYSE:TWTR) post made by zkSync, we saw the announcement that zkSync 2.0 is live on the public testnet.
ZK Rollups, which are capable of general computation, is oftentimes considered to be the key to Ethereum’s endgame.
In May of 2021, developers laid out their vision for zkSync’s permissionless, Turing-complete rollup, which allows the deployment of dApps in a low-fee, scalable layer-2 environment.
Opera (NASDAQ:OPRA) recently also integrated Ethereum layer 2 as a means of bridging access to DeFi to millions of users.
As traders rapidly bought Ethereum through the recent decrease, they are now urging everyone to hold. This could potentially lead to a spike in Ethereum’s price.
Source: Tradingview
On the Flipside
- This rollup inherits from Ethereum’s security, decentralization, and network effects, all whilst adding additional functionality to expand the design for developers.
Why You Should Care
This update has the potential of bringing new developers within the Ethereum ecosystem, which in turn would lead to increased adoption of the blockchain and to the addition of various new decentralized applications (dApps).
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