zkTube protocol is the best scaling solution for Ethereum Layer2
Introduce
The scalability of blockchain is surprising. From the first lines of code it has now created a financial market that at its peak amounted to $ 2600 billion. Along with that, ETH 1.0 with the combination of many application platforms is making the transaction processing process slower and slower, leading to too high gas fees. Waiting for ETH 2.0 to ship will probably take many more years. In that situation, it is necessary to improve the delivery network. zkTube is a project built and developed on layer2 using ZK-Rollup technology and zkSNARK principles. It can improve scalability by mass transmission for a single transaction.
About zKtube
As one of the most promising expansion solutions, the zkTube protocol has attracted attention since the beginning of the project. The mechanism was first proposed by Vitalik Buterin, a second layer scaling solution that uses zero-knowledge proof to solve the congestion problem of the Ethereum network.
Under the expectation of the community, the zkTube testnet was officially launched on April 27, so far, the system has been running normally. Meanwhile, the technical team is also constantly optimizing various data and functions, solving problems in the test, and continuously updating the version to improve the stability and other performance of the system. This project mainly adopts ZK-Rollup + Plonk to provide a Layer 2 expansion solution for the Ethereum network. Currently, the circulation of ETH in Layer 1 and Layer 2 has been completed. It includes functions such as Deposit, Transfer, and Withdraw. Next, the team will mainly improve the stability of the system and the user experience, and functions like a faucet, Native tokens, and mainstream ERC20 support will also be launched in the near future.
As one of the most typical Layer 2 scaling solutions, the zkTube testnet has received close attention from all parties at the beginning. Currently, more than 13,000 early users worldwide have participated in the zkTube testnet to experience the Deposit function. The Angel Right 100,000 ZKT donation plan launched at the same time was 100% subscribed within two hours, which shows the popularity of zkTube worldwide. It is growing faster than other Layer 2 related protocols, so the technical challenges in the development process are unprecedented, all technical problems encountered need to be solved carefully by the project team.
In addition, the vision of the zkTube protocol is to create a Layer 2 cross-rollup solution based on ZK-Rollup architecture, this is the first of its kind in the world. It means zkTube Labs technical team needs to acquire the most advanced and highly skilled technologies to support the system. The testnet is used as the polishing process before the mainnet launch, one of its biggest goals is to find and solve as many problems as possible, to ensure the smoothness and user experience as well as the developer environment of the mainnet. This is the biggest driving force for the team.
The successful launch of the testnet is a small step for zkTube Labs, but a giant leap for Layer 2.
Token
Conclude
In terms of correlation, Layer 2 projects for token issuance are very few compared to the number that are developing and cooperating with many platforms using this solution, including Polygon (MATIC), Celer Network (CELR) and Loopring (LRC). This shows a potential opportunity for a host of other projects in the range that will launch their own tokens, design a niche and change the game in the near future. Pay attention, as soon as ETH establishes a new ATH, Polygon (MATIC) immediately explodes and jumps after the DeFi expansion.
Another point of concern is that the NFT movement is likely to explode again after the Binance NFT market spark next June, the ERC-721 token standard will benefit from this event. With the wave expected to be even bigger than the last time, combined with the DeFi flame gradually igniting again when the trading volume at DEX exchanges is at a record high, there will certainly be a lot of space for the Layer 2 stage.
Details
Testnet：https://rinkeby.zktube.io/wallet (zktube.io)
Telegram: https://t.me/zkTubeGlobal
Discord: https://discord.gg/ZhcSuxhX4S
Twitter: https://twitter.com/zktubeofficial
Medium: https://zktube.medium.com/
Author : dongduong
#zkTube #Ethereum # layer2 #Crypto #Blockchain #Halving @zktubeofficial