Lưu trữ cho từ khóa: Zero-Knowledge Proofs

Altcoin

Scroll employs Cysic’s ZK computing power to scale Ethereum faster

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Ethereum layer 2 blockchain, Scroll, has partnered with Cysic Network to integrate zero-knowledge computing power into the blockchain to accelerate Ethereum scaling.

Scroll, an emerging Ethereum(ETH) layer-2 blockchain, has paired up with zero-knowledge proof layer Cysic Network in order to make scaling Ethereum quicker and more efficient.

According to a press release received by crypto.news, Cysic already has two hardware products in the works, ZK Air and ZK Pro, which they plan to distribute in 2025.

Both products are designed to manage high volumes of transaction without compromising speed or security. Cysic states that it will prioritize “support for Scroll’s latest proving techniques on the hardware products.”

Co-Founder of Scroll, Sandy Peng, said that by integrating Cysic’s ZK Proof technology Scroll is able to offer the best infrastructure for developers and provide users with a fast and secure on-chain experience.

“By continuously seeking to enhance our technology across our entire stack, we have discovered Cysic strengthens our capabilities for having the highest throughput and fastest finality of all ZK rollups,” said Peng.

As the Ethereum layer 2 landscape continues to grow, the volume of transactions continues to increase, leading to congestion on the Ethereum mainnet. This can lead to bottlenecks, higher latency and increased costs that could hinder layer 2 blockchains from operating optimally in the wake of high traffic.

Therefore, Scroll has recognized the need for layer 2 networks to adopt scaling infrastructure capable of managing the rapid growth of traffic while maintaining its performance and reliability.

Co-founder of Cysic, Leo Fan, stated that ZK technology holds the key to meeting the needs of the ever-evolving blockchain ecosystem and driving the industry forward. He believes that Scroll’s partnership with Cysic can improve the speed and quality of Ethereum scaling in the blockchain.

“By reducing ZK proof generation from hours to minutes with our GPU servers, we’re not only accelerating Layer 2 scaling but also laying the groundwork for blockchain innovation,” said Fan.

Cysic is in the process of developing two ZK proof computing products set to release in 2025, ZK Air and ZK Pro. ZK Air is a portable solution that enables the acceleration of ZK proof generations in various environments. While ZK Pro is designed to resemble traditional mining rigs with a focus on enhancing ZK-proof generation for large-scale applications.

In Oct. 2023, Scroll launched its Ethereum mainnet, leveraging zero-knowledge proofs to significantly enhance Ethereum transactions. Scroll promised its users quicker transaction speeds and lower costs by integrating ZK proofs, a cryptographic method that alleviates bottlenecks.

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DeFi

ZKSync integrates Chainlink’s CCIP for cross-chain interoperability

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Decentralized oracle network Chainlink has expanded its cross-chain interoperability protocol to zero-knowledge proofs platform ZKsync.

Chainlink (LINK) announced on Sept. 16 that blockchain protocol Chainlink CCIP was live on the ZKsync (ZK) Era mainnet, with the integration aimed at enhancing the interoperability between decentralized finance and traditional finance.

Connecting DeFi and TradFi

CCIP on ZKSync aligns with the goal of having a unified layer 2 ecosystem on Ethereum (ETH). It is also part of a broader effort to increase development and adoption of zero-knowledge technology through decentralized applications that support decentralized finance and traditional finance integration.

Marco Cora, director at the ZKsync Foundation, commented that Chainlink CCIP’s launch on the ZKsync Era will drive further growth in real-world asset tokenization. This comes as more of the world’s leading financial institutions begin adopting on-chain solutions.

Cora added:

“The need for transparent and secure cross-chain standards becomes paramount to grow the adoption of blockchains in traditional finance and with the integration of Chainlink CCIP, ZKsync provides a gateway for these institutions to come on chain.”

Marco Cora, director at the ZKsync Foundation

ZKsync developers will now have access to a feature that enables smart contract-powered cross-chain token transfers. Chainlink’s programmable token transfers allow users to embed instructions into tokens sent across chains, leveraging smart contracts to create more interconnected decentralized applications.

Interoperability helping tokenization market

CCIP’s launch on ZKsync’s follows Chainlink’s latest milestone in the tokenized assets market.

This is after it partnered with Fidelity International and Sygnum to bring net asset value on-chain. NAV on-chain boosted Fidelity International’s $6.9 billion Institutional Liquidity Fund.

ILF is a RWA initiative that saw Sygnum bring $50 million of ZKSync creator Matter Labs’ treasury reserves onto the ZKsync network. Chainlink and market competitor Pyth Network are eyeing more of this web3 traction with recent integrations with Sony Group’s recently launched L2 Soneium.

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Altcoin

Can Ethereum provide a settlement layer for financial markets? | Opinion

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Public blockchains have a role to play in the future of financial markets, and Ethereum is well-positioned among public blockchains to act as a settlement layer. Understanding risk in the Ethereum ecosystem is vital to building robust applications for financial markets.

The benefits of blockchain and tokenization

For years, institutions have explored the use of blockchain and tokenization in financial markets. They aim to save time and money by streamlining settlement processes, using blockchain as a single source of truth among transaction participants, and reducing the need for cumbersome reconciliation efforts across participants’ records. 

Institutions also hope to make more asset types easier to use as collateral for transactions and to manage liquidity more efficiently by enabling intraday transactions. Holding assets as tokens on a blockchain should be an improvement over existing systems for most investors, and it should be possible to tokenize most financial assets. So, in the long run, shouldn’t all assets be tokenized?

Real use cases but small volumes

The key use cases so far in traditional financial markets are digital bonds (the issuance of a bond as a token on a blockchain) and tokenized Treasuries (or tokenized money market funds, shares in a fund holding US Treasuries). We have rated digital bonds across sovereign, local governments, banks, multilateral institutions, and corporates. 

We have also seen traditional financial incumbents setting up tokenized money market funds, such as Blackrock’s BUIDL fund. However, to date, the volumes of digital bonds and tokenized money market funds remain a tiny fraction of the volumes issued in traditional markets. What’s holding back adoption?

Challenges to adoption

Interoperability

The first key challenge is interoperability. Investors need to access the blockchains on which the tokenized assets are built, and institutions need to connect their legacy systems to those blockchains. To date, digital bond issuers have primarily used private permissioned blockchains, each of these being a “walled garden” set up by a specific institution. This does not support a liquid secondary market for these bonds to trade, hindering wider adoption. Different paths are emerging to address these challenges, including the use of:

  • Public blockchains. In recent months, we have seen the issuance of digital bonds on public blockchains, including Ethereum and Polygon. Blackrock also issued the BUIDL fund on Ethereum;
  • Private permissioned blockchains shared between a network of partner institutions;
  • Cross-chain communication technologies to allow different private and public chains to interact while mitigating security risks.

On-chain payments

The second key challenge is executing the cash leg of payments on-chain. Most digital bonds have used traditional payment systems rather than on-chain bond payments. This limits the benefits of issuing on-chain, weakening issuers’ incentive to issue and investors’ interest in buying digital bonds. In recent months, however, we have seen the first digital bonds from traditional issuers using on-chain payments in Switzerland, using a wholesale digital Swiss Franc issued by the Swiss National Bank specifically for this purpose. 

In jurisdictions where central bank digital currencies are further from crystalizing, privately issued stablecoins may similarly be tools that support the on-chain cash leg in financial market transactions. Emerging regulatory frameworks in key jurisdictions will enhance investors’ appetite to engage with stablecoins and the features they enable, boosting the adoption of on-chain payments.

Legal and regulatory considerations

Institutions remain cautious due to legal and regulatory questions, particularly with regard to their privacy, KYC/AML obligations, and whether it is possible to meet these obligations when using a public permissionless blockchain such as Ethereum. Technical innovations are emerging that address these challenges at different levels rather than the main Ethereum settlement layer. For example, zero-knowledge-proof technology can support privacy applications, whereas new token standards (such as ERC-3643 for Ethereum) enable transaction permissioning at the asset level.

Ethereum’s position in financial markets

Among public blockchains, Ethereum is well-positioned to gain adoption in a financial market context. It is where most of the liquidity in institutional-focused stablecoins currently resides. It benefits from relatively mature and battle-tested technology in its execution and consensus mechanisms, as well as its token standards and decentralized finance markets. 

Indeed, some of the main private blockchains used in financial markets have been developed to be compatible with Ethereum’s virtual machine. By converging around a common standard, institutions hope to keep pace with innovation and talent.

Managing Ethereum’s ecosystem risks

Ethereum’s success as a tool in financial markets will depend on institutions’ ability to understand and monitor Ethereum’s concentration risks, as well as the ecosystem’s ability to manage these risks. Ethereum requires the consensus of two-thirds of the network’s validators to finalize each new block added to the chain. If more than one-third of validators are offline at once, blocks cannot be finalized. It’s, therefore, crucial to monitor any concentration risk that could cause this to happen. In particular:

  • No single entity controls a third of validator nodes. The largest staking concentration (29%) is through the Lido decentralized staking protocol: these nodes share exposure to Lido’s smart contract risk but are operated by a multitude of different operators.
  • Diversification of client software packages run by validators (consensus and execution clients) mitigates the risk of a network outage resulting from any bug in this software. This is a strength over most public blockchains, which currently each use a single client. Client concentration risk persists, however, as seen in the network’s only delayed finality event in May 2023.
  • Validators are not concentrated through a single cloud provider: the largest exposure hosted by a single provider is only 16% of validators.

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DeFi

Flare integrates Polyhedra’s zkBridge for enhanced cross-chain security

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Polyhedra Network has integrated its cross-chain interoperability protocol zkBridge with Flare.

According to an announcement on Aug. 27, the integration of Polyhedra will help developers on Flare (FLR), the blockchain for data platform, tap into cross-chain security with zero-knowledge proofs.

The integration follows the Polyhedra Network community’s approval of a proposal that sought to bring zkBridge, one of LayerZero (ZRO)’s decentralized verifier networks, to Flare. With the arrival of zkBridge DVN on Flare, developers can now leverage ZK proofs technology to build and deploy efficient cross-chain applications.

Integration to boost Flare DeFi ecosystem

Key to the interoperability is zkBridge’s use of zero-knowledge technology zkSNARKs for multi-chain relay and verification of block headers and for consensus.

A system that offers a 2-layer recursive proof environment allows for fast and low-cost proof generation and verification. Batching makes it possible for on-chain verification of transactions from different blockchains into a single proof.

Decentralized applications deployed on Flare can now get data from other chains or networks via zkBridge. The scenario allows developers to build cross-chain dApps for DeFi, including prediction markets, trading and perps.

“Polyhedra’s zkBridge adds an additional security layer to LayerZero’s interoperability protocol and will be welcomed by Flare developers and users alike. Its integration is a sign of the growing support for Flare from cross-chain protocols and demonstrates the value of ZK technology in making it easier for value to flow freely between networks.”

Flare co-founder Hugo Philion.

Apart from RWAs and tokenization, Flare’s smart contracts platform supports use cases such as machine learning, artificial intelligence, gaming and social finance. Flare’s FAssets allows for Bitcoin to connect with other blockchains to unlock the benefits of DeFi.

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Công nghệ

NEBRA launches its zero-knowledge proof aggregator on Ethereum

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Zero-knowledge proofs platform NEBRA has launched its Universal Proof Aggregation solution, bringing the benefits of ZKP verification to the crypto industry.

NEBRA UPA, which went live on Ethereum (ETH), is a protocol that combines zero-knowledge proofs into a single proof to offer cost-effective on-chain verification. The UPA protocol is designed to boost scaling and privacy across blockchains through proof aggregation, the NEBRA team said in a press release shared with crypto.news.

“Low throughput and the high cost of verification are major obstacles preventing applications from taking full advantage of ZKP technology. But with NEBRA UPA, ZKP is no longer a dream for the future – it is a solution that is available and being used right now,”

Shumo Chu, co-founder and chief executive officer of NEBRA.

A solution for zkEVMs and RaaS protocols

Protocols and projects that benefit from UPA’s solution include zero-knowledge virtual machines, co-processors, roll-up as a service solutions, and consumer applications.

An example of the latter is the WorldCoin (WLD) project, which taps into ZKP for its orb to verify a user is a unique human. The project’s World App uses this technology for identity proof without revealing information. Other notable projects in the ZKP ecosystem include Polygon zkVM, ZK Sync, and Starknet.

The issue of cost

ZKP costs can be prohibitive, but UPA looks to cut this from $20 to $2 for Ethereum and from $2 to $0.2 for layer-2 solutions. The significant reduction in the cost of a ZK proof for everyday crypto use cases, such as buying coffee, will empower developers and add to adoption across decentralized applications.

“Who wants to pay $20 for a ZK proof for a coffee purchase? But when the cost falls to mere cents, innumerable possibilities open up for developing decentralized applications,”

-Nebra co-founder Yi Tong.

NEBRA has raised a total of $4.5 million in funding from crypto venture capital firms, including Andreessen Horowitz, Bankless Ventures, and Nascent. The platform plans to deploy UPA v2 to top L2s to allow more dApps to tap into the benefits of reduced costs for on-chain ZKP use.

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Công nghệ

Nubit and Succinct launch Nuport to connect blockchain ecosystems

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Polychain-backed modular blockchain platform Nubit and Web3 firm Succinct have launched Nuport, a new interface leveraging Nubit’s data availability layer to connect various blockchains.

In its announcement on Aug. 6, Nubit said Nuport would allow the modular blockchain to bridge to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other blockchains. This will be achieved via Succinct SP1, a zero-knowledge powered virtual machine that allows developers to build real-world applications with zero knowledge proofs.

Through writing Rust, SP1 integration also means any developer can access ZKPs by writing popular programming languages.

Through the Nubit DA, any blockchain ecosystem can tap into Succinct SP1 to enable high-throughput applications. Nuport will enable these projects to benefit from Bitcoin-secured data availability. data availability.

“By validating Nubit block headers with ZK proofs, Nuport inherits Nubit’s security guarantees, offering Bitcoin-secured data availability across any blockchain.” the Nubit team noted.

ZKP use cases

The development means Nubit now offers a platform that provides security, scalability, and efficiency for the decentralized applications developer community. Succinct SP1 also allows Nubit to adapt to the blockchain ecosystem’s evolving environment and requirements.

Examples of zero-knowledge L2 projects include Zcash, Starknet, Immutable X, Polygon zkEVM, and ZKsync.

SP1 currently offers teams from across the space access to production ZK. It includes projects on Polygon, Celestia, Gnosis, and Taiko, with use cases ranging from cross-chain interoperability, bridging, coprocessors, oracles, and Bitcoin layer-2.

Meanwhile, Nubit’s blockchain technology supports applications across artificial intelligence, SocialFi, and GameFi.

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DeFi

Space and Time debuts sub-second ZK prover

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California-based crypto startup Space and Time has released a new high-performance ZK prover to improve on-chain transactions and defi growth.

Space and Time (SxT), a custom-built compute layer, granted public access to its sub-second zero-knowledge (ZK) prover stack, dubbed Proof of SQL. The ZK-proof system was previously made available to a few SxT clients in alpha last August.

ZK provers were necessitated by privacy needs, a cornerstone of cryptographic technology. The fundamental thesis of ZK models allows users to demonstrate that data or transactions are valid or true without revealing additional information. 

Several web3 developers, including Ethereum’s Vitalik Buterin, have stressed the role of ZK stacks in building reliable decentralized finance (defi) ecosystems. The technology is viewed as crucial for ensuring safe on-chain interactions for smart contract protocols and end-users. However, ZK proofs have been known to sometimes slow down execution. 

SxT co-founder and head of research Jay White, PhD, said his team developed the Proof of SQL program “so that smart contracts and AI agents can ask questions about a chain’s activity, as well as off-chain data, and receive back trustless SQL query results on-chain during a transaction without having to wait for 30 minute proof times.”

The web3 data warehouse said its Proof of SQL delivers better-optimized processing architecture for large-scale operations compared to generalized zk-Virtual Machines and co-processors. 

According to SxT and White, the ZK prover executed queries for over 100,000 row tables in under one second on a single GPU united. The model can be integrated into zkVMs on blockchains like Ethereum (ETH) for faster speeds and bigger tasks.

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