Hello everyone, how are you?
meet me again Ratih999. This time I want to take the time to tell you about a unique and transparent Defi project called ZkTube This project is built using a platform owned by Ethereum Platform(ERC-20)
The zkTube Labs technical update will optimize the functionality and security of the zkTube system as a whole.
zkTube (ZKT) is a Layer 2 protocol. It uses zero knowledge proof, which has a qualitative impact on the platform. This has a positive effect on the mechanism of work on the implementation of transactions with low fees and high throughput between ETH and ERC-20.
The zkTube framework concept is based on the Ethereum blockchain. The principle of operation is the construction of a network protocol of level 2. All functions, analysis of the mechanism of operation, protocol of use and other important parameters are set out in an accessible language in the project documentation. Developers are confident in usability and improvement of existing applications. In the future, for use in the public network through productive services. These include speed, safety, reliability, that is, all the most important and necessary for work.
About the conference
Core members of the zkTube team and key industry players will be at the event together with thousands of blockchain scaling developers. The conference will provide an in-depth analysis of the ecology and the market of Ethereum with a fresh outlook on the technical discussion among many blockchain technology developers and enthusiasts.
The scaling of the Ethereum network has been one of the most discussed topics since its launch. The debate about scaling has been the highlight of discussions after major congestion in the Ethereum network. The debate appeared as early as in the crypto bull market in 2017, when the boom of CryptoKitties and fundraising campaigns on the internet clogged the entire Ethereum network, causing a huge spike in gas fees and even resulting in unverified transactions across the Ethereum network.
Without sharding and with Ethereum 2.0, the current Ethereum performance is heading toward maximum capacity. Additionally, the various liquidity mining of decentralized finance, decentralized exchange, gaming, the launch of other applications, and even the boom of stablecoins overwhelmed Ethereum. The current Ethereum is inefficient and cannot support the agility, smoothness and low cost of its eco-applications.
During the 2020 Ethereum Technology and Application Conference in China, Vitalik Buterin, the founder of Ethereum, addressed Ethereum developers, saying, “If you are building applications, you must also be facing problems in scalability. Every transaction consumes gas and the price of Ether (ETH) has been high. Therefore, if you are looking for ways to optimize your applications, a rollup scaling solution is highly recommended.”
The information presented in the white paper is essentially an innovative technical model provided by the zkTube platform and constitutes an efficient operating network. The architecture of the unique features conforms to the second level blockchain standard. The platform interface is simple and user-friendly. The latest technologies and progressive design positively complement all the developments and ideas of the team.
There are a number of problems currently on the Ethereum network. One of them is a system reboot and high fees, many are working on solving this problem, since the problem is serious and should be resolved in the near future. The zkTube system, with its latest zero-knowledge proof designs, offers a compromise. zkTube Labs provides a cost-effective solution based on zkRollup. These are high transaction throughput, support for scaling, assets are stored using smart contracts in the keychain, and calculations and storage are performed off-chain. The proof of data of each block is updated in the main chain at a low cost.
ZK-Rollup technology and the developed PLONK algorithm allow you to combine several transactions into one, thereby improving scalability.
Low cost is achieved due to uniform distribution in one installation, which leads to a decrease in gas consumption. Each individual transaction contains less data, which in turn increases throughput.
Storage transaction data is placed in L2, then processed and packaged in a single block, thus creating a zero knowledge proof. Information is sent to L1 for verification. The platform's engineered mechanism reduces gas costs and ensures safety.
A very convenient option is a mutual transfer from Ethereum L1 and L2, as this allows system participants to receive funds without creating a wallet.
After the opening of the main zkTube network, its own ZKT token will be used for payment.
How zkTube works is two use cases:
Regular user. The second level account zkTube, before creating a transaction, the transfer is signed with its private key and then sent.
ZkTube system. Combining interactions plus zero knowledge proof, this is the ZK Rollup algorithm. Several programs are used:
PLONK Algorithm (Zero Knowledge)
Watcher (transaction monitoring)
Block Proposer (transaction packaging)
Guardian of the State (update)
Block committer
zkTube Prover (check)
Flutter 2.2 is the best version of Flutter so far. The focus is on security, and there are many resources out there on performance improvements for iOS, latency components for Android, and service updates for Flutter Web. The project consists of a targeted user support solution. First of all, it is the protection of investments in cryptocurrency.
Work is underway with technological documentation. Discussion and review of technologies for implementation in the main blockchain network. Introduces innovations and takes an active part in conferences. Continues to expand its partner base. The platform pondered this idea for a very long time and carefully. Thinks wisely about saving and investing.
For more information Zktube:
Website: https://zktube.io
Twitter: https://twitter.com/zktubeofficial
Medium: https://zktube.medium.com/
Facebook: https://www.facebook.com/zkTube.io/
Telegram: https://t.me/zkTubeProtocol
Discord: https://discord.gg/ZhcSuxhX4S
Testnet: https://rinkeby.zktube.io/wallet
YouTube: https://www.youtube.com/channel/UCrEy7BBc9SbwpQ-a0Ix1oFw
Author
Forum Username: Ratih999
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2527799
Telegram Username: @Ratih999
ETH Wallet Address: 0xAc90f49256f67Fc6651338D08354fa2D1C7fC43A