According to a report by The Block, Zero Knowledge (ZK) technology development company Nil Foundation is planning to launch a ZK-Rollup type Layer 2 network using sharding technology on Ethereum. This Layer 2 solution will operate as zkEVM. zkEVM is a type of ZK-Rollup that can run existing decentralized applications (dApps) on Ethereum.
Nil Foundation stated that the goal of this ZK-Rollup is to provide an alternative method for scalability by integrating multiple shards into a unified Layer 2 execution environment. This method combines modularity and monolithic architecture to support data-intensive dApps.
The network is still in its early development stage, and Nil is developing a public testnet that is expected to be launched within the next 3 to 6 months. Misha Komarov, Co-founder and CEO of Nil Foundation, said:
“The goal of sharding
Sharding has always been an integral part of Ethereum’s roadmap strategy to achieve parallel transaction processing and verification, with the aim of reducing costs and increasing transaction speed.
According to Nil Foundation, the deployment of zkSharding combines various architectural principles. This architecture consists of a main shard and multiple sub-shards. The zero-knowledge proof verification of transactions in the main shard is a part of the Layer 2 design, while the sub-shards are used to increase transaction capacity.
Source:
Nil Foundation
Nil is known for its dedication to building a zero-knowledge proof transaction market, and the launch of its own ZK-Rollup indicates that the team has entered a competitive field. Similar projects in this field include Polygon zkEVM, zkSync, and Scroll. In January 2023, Nil Foundation raised $22 million in a funding round led by Polychain Capital.
Successful Conclusion of CoinEx Taiwan’s 7th Anniversary Celebration, Embracing the Arrival of the Web3 Era Hand in Hand with Users
Since its establishment in 2017, CoinEx has been a professional cryptocurrency trading pla…