60 million NFTs might be minted in one transaction: StarkWare founder

Zero-understanding (ZK) rollup tech company StarkWare founder Eli Ben-Sasson states its new Recursive validity proofs could theoretically roll-up as much as 60 million transactions into one around the Ethereum blockchain.

The zkSTARK co-inventor made your comments ought to to Cointelegraph during ETH Seoul on August. 7 after announcing the beginning of manufacture of StarkWare’s new Recursive validity proof technology throughout a presentation. 

Talking with Cointelegraph, Ben-Sasson stated that recursive validity proofs could further scale up transaction throughput to some factor with a minimum of ten when compared with standard Validium scaling, noting that they’ve recently been moving up 600,000 mints of nonfungible tokens (NFTs) around the ImmutableX protocol.

“I would repeat the minimum I’d have to say is 10x […] We have been putting 600,000 mints of NFTs, which led to a ten gas per mint. We are able to now at the minimum take 10 of these proofs and produce a recursive evidence of all 10 of those things,” he described.

“We may go to 6 million at the minimum, which is soon. That’s something that might be super easy to complete. ”

However, Ben-Sasson also added the amount could “go as much as 60 million with increased engineering and tweaking,” adding: 

“I think also lowering the latency by take into consideration that’s 5 to 10x can also be very doable.”

StarkNet is really a permissionless and decentralized layer-2 ZK-rollup that utilizes Validium to scale transactions. Like standard ZK-Rollups, Validiums work by aggregating a large number of transactions right into a single transaction. StarkNet’s new Recursive validity proof technology can batch up several Validium blocks right into a single proof.

This scaling solution might be a game-changer for Ethereum as layer-2 scaling solutions like ZK-Rollups and StarkNet’s Recursive validity proofs can offload a lot of the network congestion and knowledge availability problems that have caused trouble around the Ethereum Mainnet. Presently, Ethereum’s Mainnet can process transactions for a price of 12-15 transactions per second (TPS).

Throughout his presentation at ETH Seoul, Ben-Sasson noted that recursion is ideal for scaling because it lowers gas costs, has greater proof capacity, while offering lower latency. 

StarkNet has been survive Ethereum Mainnet since June 2020. It presently forces protocols including dYdX, Immutable, DeversiFi, and Celer.

Related: Blockchain’s Scaling Problem, Described

Also speaking at ETH Seoul on Sunday, Ethereum Founder Vitalik Buterin expressed his enthusiasm towards ZK-rollups, further proclaiming that the scaling solution was better than Positive Rollups:

“In the long run, ZK-Rollups are eventually likely to beat Positive Rollups simply because they have these fundamental advantages, like not requiring to possess a seven-day withdrawal period.”

Up to now, the Ethereum-based scaling solutions most abundant in total value locked (TVL) are Arbitrum, Optimism, dYdX, and Loopring.

Latest stories

You might also like...