Introducing zKtube ETH scaling solution on a layer 2 basis
Introduce
If you follow DeFi closely, you’ve probably come across the term “Layer 2”. Crypto natives often talk about blockchains in terms of “Layer 1” and “Layer 2”, but to understand what they mean, it’s worth explaining from the base point. Blockchains like Bitcoin and Ethereum are often described as “Layer 1” chains because they settle every transaction on their network. Layer 2, meanwhile, is the framework that gets built on top of the blockchain. Layer 2 solutions have an important role to play in improving scaling. We’ve spent a lot of time researching them in regards to our own offering, and we’re closely linked with Layer 2 projects like Polygon (formerly known as Matic). For our latest Understanding DeFi guide, we wanted to detail how they work for the community, along with some examples of the solutions that are being developed today.
What is Layer 2?
Ethereum has created a financial system unlike anything the world has seen before, but it suffers from some well-documented problems.
Ethereum in its current iteration processes around 15 transactions per second. This has caused a number of issues: the network often gets congested, sometimes pushing gas fees to extreme highs.
Blockchains should be scalable, secure and decentralised. While there are ways of improving transaction speeds by using more powerful nodes, this approach compromises on decentralisation.
It’s hoped that Ethereum 2.0 will improve scalability, but it will still be some time before the upgrade is complete. And with Etheruem usage peaking at around 1 million transactions daily, it needs other solutions today.
That’s what Layer 2 is for.
Layer 2 is what gets built on top of the base chain in order to improve scalability.
Like Bitcoin, Ethereum can be thought of as a Layer 1 protocol. It’s the settlement layer for all transactions on the network.
Layer 2 solutions offer a way of increasing transaction speeds and scaling, while benefiting from the security of the main chain. In some cases, they can process thousands of transactions per second, which will be needed if Ethereum is to achieve wider adoption.
What is zkTube?
zkTube is a project that has been built and developed on Layer 2 with the use of ZK-Rollup technology and the PLONK principle. It can improve scalability via the transfer of batch transmission to single transactions.
This is a trustless protocol for the scaling solution of Ethereum, powered by ZK-Rollup technology. It utilizes Zero-Knowledge proof to offer solutions to the problems and issues of scaling, data availability, privacy for Ethereum, and all data is synchronized and stored on the mainnet. zkTube is poised to become the best Layer 2 environment for payments with no more than 0.01 cents per transaction, and TPS up to 3000+. It offers great value for people. Soon, it will be a point for financial institutions to move to Ethereum, to provide a more friendly payment system worldwide.
To build a good sustainable blockchain ecosystem, we need to do something in the architecture to balance the need for security, decentralization, and scalability. zkTube processes data in a way that reduces the burden on the main chain. By transferring part of the data processing of the main chain to Layer 2, it builds a Layer 2 infrastructure in terms of scalability, computing, and storage, which integrates the high security of the main chain and enhances the performance requirements of the entire network.
Our advantages
Low Gas fee and high throughput
ZKTube protocol will set a block size as 12M, a theoretical throughput of 3,000 +TPS, and the cost of single transaction less than 2% of that for the corresponding operation on L1.
Safety guarantee at the level of Ethereum mainnet
On the zkTube network, the massive calculation and data storage operations will be processed on L2. And then, a large number of transactions will be summarized and packed into a single block and the zero-knowledge proof is generated, then all of them will be sent to L1 for verification, which not only improves the transaction processing speed of the whole network, but also ensures security.
Quick Transaction Verification
On the zkTube network, when the block with SNARK proof is sent to L1 for smart contracting and passes the verification, all transactions in this block will be confirmed, which only takes about 10min from submission to the completion of verification. And this time will be increased to seconds as ZKTube network throughput increases in the future.
Transfer payment received in a real time
On the zkTube network, it takes about 10min for the transaction to become the final confirmation state, but this doesn’t affect the normal use of L2. Users only need to adjust the balance contained in the Token leaf node in their account trees when conducting the transfer operation, so the transfer payment between L2 can be received in a real time.
Conclude
Although newly launched, zKtube has received great attention from users. With its solution, zKtube aims to help ETH quickly reduce the transaction pressure, giving users the lowest possible transaction fee. It also makes a big jump for the ETH network. Follow me on this project in the near future by joining:
Web: paytube.io
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/
writer : themagic96