According to statistics recorded this week on Tuesday and Wednesday, the layer two scaling project Arbitrum’s transaction count has surpassed Ethereum’s. On Wednesday, Arbitrum processed 1,090,510 transactions, compared to Ethereum’s 1,080,839 transfer count. L2 Scaling Solution Arbitrum’s Daily Transfers Skyrocket Layer two (L2) scaling networks have become popular over the last two years as secondary…
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Since The Merge, Ethereum’s onchain fees have been considerably lower. However, combined transaction volume on layer two (L2) chains Arbitrum and Optimism has outpaced Ethereum’s onchain transaction output. On Saturday, Jan. 14, 2023, Ethereum processed 1.10 million onchain transactions, while combined transactions on Arbitrum and Optimism reached 1.32 million for the same day. Rise of…
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Zero-knowledge Know Your Customer (KYC) would allow businesses to adhere to strict AML/CTF rules while ensuring customer privacy. As the Web3 industry matures, zero-knowledge Know Your Customer (zkKYC) is becoming more widely discussed as a means to comply with strict financial regulations while maintaining user privacy, according to the partner of a venture capital firm.…
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According to the Electric Coin Company, the team behind the cryptocurrency network Zcash, the protocol is soon to implement the largest upgrade in history. The Zcash development team has released the 5.0.0 codebase which supports the NU5 upgrade that will occur on or around May 31, at block height 1,687,104. Electric Coin Company and Zcash…
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Polygon’s scalability, efficient processing times and very low gas fees provide a solution to Ethereum’s current network limitations, according to Nailwal. Polygon (MATIC), a layer-two network designed for scaling and application infrastructure development on Ethereum (ETH), has been making the rounds among blockchain enthusiasts as of late. From its $1 billion investment into zero-knowledge technology…
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The move would usher a new era of user privacy as public ledgers face scrutiny over their ability to be traced by blockchain data analytics firms. On Thursday, ConsenSys, a prominent developer of Ethereum (ETH) software, announced the launch of enterprise software ConsSys Rollups. The service, designed on the basis of zero-knowledge (ZK) proofs, is…
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If fully vested, it would be a $627.5 million investment into zero-knowledge technology at today’s MATIC price. Ethereum scaling solution Polygon has announced it will dedicate a maximum of 250 million MATIC tokens ($627.5 million) to a deal with zero-knowledge cryptography startup Mir. Zero-knowledge algorithms enable external validators to verify encrypted transactions or documents without…
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