Eli Ben-Sasson, founder of aggregation technology company Zero-Knowledge (ZK), says its new iterative proof of validity could theoretically add up to 60 million transactions in one on the Ethereum blockchain.
Co-creator zkSTARK made the comments to Cointelegraph during ETH Seoul on August 7 after announcing the start of production for StarkWare’s new technology to demonstrate iterative validity during a presentation.
Speaking to Cointelegraph, Ben Sasson said that iterative validation proofs can increase transaction throughput by a factor of at least a factor of ten compared to the standard Validium scale, noting that they have already accumulated 600,000 minutes of non-fungible tokens (NFTs) on the ImmutableX protocol.
“I would say the minimum I can say is 10x […] We set 600,000 min NFTs, which resulted in 10 gases per mint. Now we can at least take 10 of these proofs and produce a recursive proof for all of these 10 things,” he explained.
We can go to at least six million, and that’s in the short term. This is something that would be very easy to do. “
However, Ben Sassoon also added that the number could “reach 60 million with more engineering and tweaks,” adding:
“I also think that reducing the response time by another factor of 5-10x is very possible as well.”
StarkNet is an unauthorized, decentralized ZK-2 ZK layer that uses Validium to scale transactions. Like the standard ZK-Rollups, Validiums works by aggregating thousands of transactions into a single transaction. StarkNet’s new iterative validation technology can combine multiple Validium blocks into a single proof.
This scaling solution could be a game-changer for Ethereum as Layer 2 scaling solutions like ZK-Rollups and StarkNet Iterative Proofs of Health can unload many of the network congestion and data availability issues that have caused problems on the Ethereum Mainnet. Currently, the Ethereum Mainnet can process transactions at a rate of 12-15 transactions per second (TPS).
During his presentation at ETH Seoul, Ben-Sasson noted that redundancy is great for expansion because it lowers gas costs, has higher proofing capacity, and provides lower latency.
Starknet just turned on recursion for its production SHARP systems. Iterative proof can significantly reduce amortized cost per transaction on L1 and introduce a secure STARK-based model for Layer 3. It is exciting to see the introduction of deep scaling solutions.
– g.mirror.xyz (@strangechances) August 7, 2022
StarkNet has been running directly on the Ethereum Mainnet since June 2020. It currently powers protocols including dYdX, Immutable, DeversiFi, and Celer.
Related: Explaining the Blockchain Scaling Problem
Also speaking at ETH Seoul on Sunday, the founder of Ethereum Vitalik Buterin was excited about ZK-rollups, noting that the scaling solution was superior to Optimistic Rollups:
“In the long run, ZK-Rollups will eventually outperform Optimistic Rollups because they have these primary advantages, such as not requiring a seven-day withdrawal period.”
So far, Ethereum-based scaling Solution With the highest total locked value (TVL) being Arbitrum, Optimism, dYdX and Loopring.