The ZKM zero knowledge stack was unveiled following the MetisDAO Foundation incubation, claiming it plans to make Ethereum the “universal settlement layer for all blockchain and non-blockchain applications.”
With funding from the foundation that oversees the development of Metis, an Ethereum layer 2 protocol, ZKM is developing a hybrid approach that combines Optmistic and Zero-Knowledge stacks into one, according to an emailed announcement Thursday. Rollups are a way to group transactions together to improve throughput and reduce transaction costs.
The system plans to start operating on the Ethereum testnet in January next year.
Metis will be the first network to use ZKM’s hybrid rollup, which will enable the Layer 1 chain to implement instant transfers from Layer 2.
“From a user experience perspective, all users in the Metis ecosystem will benefit from instant and limitless asset transfers,” ZKM told CoinDesk in a statement.
ZKM said it aims to improve existing layer 2 networks, such as Metis and Optimism, with the aim of making its rollup compatible with other layer 1s, like Solana, Avalanche and BNB Chain.
After that, ZKM said, it plans to make Ethereum a settlement layer for non-blockchain applications, offering its infrastructure to cloud computing, artificial intelligence (AI) and Internet of Things (IoT) systems.
Edited by Sheldon Reback.
https://www.coindesk.com/tech/2023/07/13/zero-knowledge-rollup-zkm-sets-out-to-make-ethereum-universal-settlement-layer/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
