Wow great and easy to understand lectures Prof. @pelon53. Thank you for the lectures.

Now to the assignment proper

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Question 1

Explain in detail the Sidechains with the use of ZK-Rollups.

Sidechain with the ZK-Rollups

The side chains are those attached blockchain to the main chain that helps reduce Scalability problem experienced by the main blockchain. The Ethereum blockchain successfully experiments this process with the creation of two layers which is the layer 1 and 2. Were the layer 2 is known as the plasma block.

The plasma which enables Sidechain to process transaction offline and then moves same into the main chain for verification through a single hash. But this process has it limitations one of which is that users must engage in an exit game to be able to withdraw their token for the Sidechain and this require the online presence of the user plus some large amount of data and good network in operation for the success of this withdrawal process.

Now this is were the ZK-Rollups comes in. ZK-ROLLUPS which means Zero knowledge Roll-up seeks to solve this problem by solving both the problem of scalability in the main chain and also the problem of transaction in the Sidechain.

The ZK-Rollups solve the problem in the second layer called the plasma block were it is able to carry out just a single transaction per time, the ZK-Rollups rolls up series of transaction into and executes all at a go (mass transfer). This is possible because of the presence of smart contract which does the work of verification by bursting open the rolled transactions and help verify them.

There are two types of users involved in the ZK-Rollups scheme, these are;

• Transactors
• Relayers

Transactors

Now the Transactors are those that create transfers and the send same to the main Chain network. The transfer created by the Transactors will be made to contain;

• Transfer address, that of which it being sent from and that which it will be sent to

• The transaction fees

• Transacting amount

• And the nonse

Now the ZK-Rollups helps reduce the transaction processing requirements making it easy to process by reducing it to 3-byte. Then the smart contract available on the block registers the transaction on two merkle trees, making it easy to accumulate the address and the Transaction amount.

Relayers

Now the Relayers work is to collect Transactions created by the Transactors into a roll up and then create a hash which is called a SNARK proof. The SNARK proof takes a snapshot of the blockchain before the Transaction has been made and compares it to the snapshot of the blockchain after Transaction has been made and then reports only the verified changes to the main blockchain.

The ZK-Rollups has an advantage which includes; Reduction of Transaction fee because of the bulk Transaction method involved here, Reduce data consumption experienced in the plasma block and also removes the verification games involved before withdraws of asset.

It also has it disadvantage such as; to compute the ZK-Rollups alot of data is required is required, verification process might pose a trait to the security of the block.

Question 2

Explain the Liquid Network side chain

Liquid Network Sidechain

Source

The liquid network Sidechain is a Sidechain of the Bitcoin blockchain. This Sidechain seeks to fasten up Bitcoin Transactions, makes Bitcoin Transaction more confidential and issues digital asset.

The Liquid Network was created by Adam Back and was first successfully tested in 2017.

Uses of the Liquid Network

• Reduces settlement risk when carrying out swap on the Sidechain.

• Bitcoin Transactions is made more easy.

• It's makes the intercommunication of Cryptocurencies and Bitcoin more efficient.

• Bitcoin Transactions are more confidential because they are not made available to third parties.

The Liquid Network Sidechain has a constituent of federated members, that verify and vet Transactions by managing consensus and the incoperation of the main chain with the Sidechain.

It is important to understand that the Sidechain cannot operate in isolation from the main chsjn but the main chain which is the Bitcoin blockchain in this case can.

How Liquid Network works.

Now the as we know that the liquid is the Sidechain if the Bitcoin blockchain which helps handle the scalability and Transaction speed of of the Bitcoin network. So the liquid network contains or operates with a native token call the LBTC which works in two way peg nature. Which is explained in a phrase peg in and peg out.

The peg in involves the moving of Bitcoin token to the liquid network, when this is done an equivalent of the Bitcoin token changes to LBTC through verification by lots of nodes up to 102 of them in order to remove the problem if double spending.

While the peg out process is the reverse were the LBTC is moved to the main chain. Here it changes back to the BTC token with same token value under a time frame of 17 minutes.

It is worthy of note here that LBTC token of the liquid network only functions in the liquid network Sidechain, immediately it leaves they to the main chain it is restructured to BTC to fit into the blockchain.

Question 3

Describe the steps to connect the Metamask wallet and the Polygon network wallet. Show screenshots.

First of all it is important you search for how to connect polygon network to your wallet from this site you can access that so getting your network information will be easy for the configuration.
Source

Below are the important requirements of opening the above site which will help in the configuration of the metamask platform network from Ethereum network wallet to Polygon network wallet

• Network Name: Polygon Mainnet
• New rpc URL: https://rpcmainnet.maticvigil.com/
• String ID: 137
• Symbol: MATIC
• Block explorer URL:
• https://explorer.matic.network/

Below are the network connections steps.

• First open your Metamask wallet and then click on the top right corner so the setting button can be accessed as seen below.

_{Screenshot from Metamask wallet}

• Then click on the setting button and the page below will pop up.

_{Screenshot from Metamask wallet}

• Then click on network as seen above.

_{Screenshot from Metamask wallet}

• And then you click on add network so the Ethereum network can give way to another network.

_{Screenshot from Metamask wallet}

• Then you fill the requirement for polygon network

_{Screenshot from Metamask wallet}

• After that click on save for the network to activate.

• Finally the setting or configuration of My Meta mask wallet from Ethereum network wallet is changed to the polygon network wallet.

Question 4

According to the polygonscan block explorer, when will the block 25,000,000 be generated? Show screenshot. Explore the 12,000,000 block, at that time, what was the price of the Matic? Show screenshots.

Polygonscan Block Explorer Exploration.

• First log into this site
  https://polygonscan.com/ and then input the block number 25000000.

• And then the block details appears as seen below.

So as at today 30th oct, 2021 we need;

• 105 days

• 2 hours

• 18 minutes

• And 18secs before this block is executed. Which is on February 15 2022.

• Also using the same process I input the 12000000 block Number avd the details below appears.

• With that the price of MATIC is $0.38 as at 230days and 11hours ago.

Conclusion

With this teaching it is clear that the side chain is a very important incorporation into the Cryptocurency ecosystem if not for any thing but for the fact that blockchains have the problem of scalability and the Sidechain seeks to solve this issue.

And most importantly not just solving the issue but also making sure that the interaction between the Sidechain and main chain is secured and the smart contract is a remedy in consonant with other block consensus and vetting mechanism.

Thank you.