Matter Labs New L2 Scaling Solution; zkPorter
Evening
The Defi craze led to a massive expansion on Ethereum network in the form of new investment protocols and token launches. Whereas this increased activity and demand seems cools on the surface, but it is has also caused in a sharp increase in competition for transactions to get approved, resulting in a slow and congested network and with ever increasing gas prices.
New upcoming EIP-1559 promises to put a leash on gas prices but till then Layer 2 scaling solutions comes to the rescue. L2 solutions runs on top of Ethereum Layer 1 (L1). Layer 2 offloads transactions from the main chain, process them and record them back on main chain(L1). The whole 'processing transactions on L2' offers higher transaction processing speed, lower cost and frees up the main Ethereum network.
A number of L2 solutions have been developed or (being developed), each with their own strengths and weaknesses. Few noteworthy solutions are Optimistic rollups, ZK rollups, Plasma and Validium etc.
But will current rollup scaling solutions be enough to support future exponential growth on Ethereum network? Currently Optimistic rollups are offering 25X and ZK rollup are offering 100X increasing in transaction processing speed. This scalability is good but may be not too good in the long run.
As a matter of fact any improved scalability will also be accompanied by even more activity due to new products and lowers transactions. So current scaling solutions offering linear increase in scalability might become congested too pretty quickly.
A new scalability solution called zkPorter is being developed by Matter Labs. It is offering 20,000+ TPS which should be sufficient enough to accommodate any future exponential increase in network traffic.
(Source)
As per Matter Labs:
We have designed a system with 20,000+ TPS that offers more security than optimistic rollups. More importantly, it is coming to mainnet in 6 months with zkSync 2.0.
Matter Labs plans to divide its L2 solution zkSync into two parts, zkRollup with on-chain data availability and zkPorter with off-chain data availability. Both sides will be composable and interoperable, meaning that accounts on side can interact with other side seamlessly.
Users will have choice to opt for zkRollup side(on chain) or zkPorter side(off chain). zkPorter side will be way more cheaper because of its ability to process thousands of transactions in a single go and post only a single update on Ethereum. zkSync token holders termed as guardians will ensure data availability on zkPorter side via proof of stake(POS).
Matter Labs claims of providing a scaling solution too good to accommodate for future Ethereum expansion seems promising but only time will whether the solution will work in real world or not. The Layer 2 side is getting ever increasing attention with new innovative scaling solutions rolled out everyday. One thing for sure, only the best ones will stand out in the long run.
See you on the moon!!!
More Reading
Posted Using LeoFinance Beta