Buterin Claims zk-SNARKs is the Solution to Ethereum’s Scalability

Ethereum is fighting a battle which could make or break it currently, with cryptocurrencies becoming as competitive as ever. One such issue which Ethereum needs to solve immediately is the issue of scalability.

Vitalik Buterin took to a research blog to explain his latest findings on solving Ethereum’s scalability issue. It has nothing to do with layer two scaling solutions such as Plasma but instead Zcash’s technology called zk-SNARKS.

Buterin wrote in the platform, “We can actually scale asset transfer transactions on ethereum by a huge amount, without using layer 2s that introduce liveness assumptions (eg. channels, plasma), by using zk-SNARKs to mass-validate transactions.”

According to Buterin the solution of zk-SNARK can result in transactions increasing to 500 transactions per second (TPS).

Buterin explained the method of zk-SNARK by using a relayer node to perform transactions. “Anyone can be a relayer; there is no assumption of even an untrusted special ‘operator’ existing. The node setup is estimated to lead gains of “~24x for ETH transactions and ~50x for ERC-20 transfers,” Buterin explained in technical terms.

Ethereum’s scalability issue is seen to be a significant issue with Parity communications officer pouring his heart out on the slow deployments to dApps on Ethereum’s platform.

No wonder, Tron’s founder who is seen to be quite aggressive in acquisitions and developments was found tweeting persuading developers to choose Tron as a platform for developers instead of Ethereum.

 

What needs to be noted is zk-SNARK is Zcash’s technology and given Ethereum’s size, and popularity Zcash has a chance of growing bigger if it’s feature is implemented into ETH.

It is not the first time Vitalik Buterin has fancied Zcash, two weeks ago he commended Zcash’s governance delivering on a roadmap in an interview with Zcash himself.

It looks like something is brewing between Ethereum and Zcash!

One major challenge of zk-SNARK is the time taken to generate proof. However, if that is sorted out Ethereum will most probably use Zcash’s technology instead of a two-layer solution.

Image Source: NewsBTC

 

 

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