As a seasoned analyst with over two decades of experience in the tech industry, I must admit that the ambitious goals set by ZKsync for 2025 have piqued my interest. Having worked extensively with various scaling solutions across multiple blockchain platforms, I’ve seen firsthand the challenges associated with achieving high TPS without compromising on security and privacy.
The Layer 2 scalability solution ZKsync has declared its ambitious objective for the year 2025: achieving over 10,000 transactions per second (TPS), and slashing transaction fees to an extremely low $0.0001 by that same year.
ZKsync is a scaling solution for Ethereum‘s mainnet that aims to boost scalability, privacy, and security using zero-knowledge proofs (ZK-proofs). In their 2025 roadmap blog post, the team at ZKsync outlined their goal of making the platform more user-friendly and increasing its speed by reaching a transaction throughput of 10,000 per second.
Additionally, the blueprint emphasizes improving ZKsync’s Elastic Network and ZK Stack to become the preferred platform for blockchain developers. Moreover, by lowering the median gas fee to almost nothing (less than $0.0001) for Ethereum-compatible ERC-20 tokens by 2025, ZKsync aims to make its technology more enticing for developers.
In a recent post on December 12, ZKsync highlighted that fostering individual financial liberty for investors and facilitating widespread cryptocurrency usage are key objectives of its protocol. Additionally, it stated:
Today, developers working on Web2 projects frequently need to strike a balance between the principles of Web3 and user-friendly design, often resorting to centralized developer platforms. ZKsync proposes a solution by developing an expansive, cloud-like environment for development that doesn’t require builders to compromise between user experience (UX), performance, and security.
ZKsync Will Cater to Decentralization and Privacy
ZKsync, a platform for enhancing scalability at Layer 2, has been focusing on increasing its decentralization. This year in September, it introduced a decentralized governance structure, inviting community members to contribute towards the development of the protocol. The governance system is equipped with smart contracts on the blockchain, aiming to boost transparency and improve decision-making procedures.
Conversely, ensuring privacy is key for widespread adoption of cryptocurrencies. Mainstream entities are reluctant to dive into the world of Decentralized Finance (DeFi) because Web3 lacks private states at present.
As per Remi Gai, the creator of Inco, confidential computing technologies might stimulate institutional interest and increase liquidity within the cryptocurrency market. At the FHE Summit 2024, Gai expressed this belief.
Despite challenges, institutions find it difficult to adapt to the open environment of the new space. Offering a familiar experience akin to Web2 could potentially attract more transparency, diverse use cases, larger players, and increased capital into this space.
Confidential computing technologies present significant benefits for the financial sector. As technology continues to evolve, confidential computing may potentially release an extra $1 trillion in funds within the cryptocurrency market.
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2024-12-13 16:06