Bitcoin’s push to nearly $20,000 in value at the end of 2017 and the development of the Ethereum platform has raised the world’s curiosity about one of the technologies behind it — Blockchain.
Since the birth of Ethereum, this platform has made great contributions to the development of blockchain technology, especially the development of decentralized applications (Dapps) and Smart Contracts (Smart Contracts). ). According to statistics of Dapp.com, there are already more than 2,900 decentralized applications (Dapps) and more than 13,000 Smart Contracts (Smart Contracts) are active worldwide. As of Quarter 1, 2019; More than 500 Dapps are being researched and developed (as reported by Hackernoon). Especially in the last 2 years, the appearance of many cryptocurrencies, crypto exchanges, decentralized applications as a proof of action and promise for the future of blockchain technology.
As we all know, Ethereum 1.0 mainnet has attracted a lot of applications built on it due to its strong consensus and security. However, as the entire ecosystem continues to grow, high delays and high GAS fees become the biggest obstacles to its growth, in turn.
As the Eth2.0 implementation still needs several years to complete and its improvements to Ethereum’s underlying scalability are yet to be tested, the Layer2 capacity scaling scheme has been proposed at the right time. point. By moving some of the on-chain workloads to off-chain, there is an opportunity to quickly realize people’s expectations for Ethereum’s low fees, high throughput, and good user experience.
Ethereum founder Vitalik Buterin proposed a mining solution for anti-ASIC (Application-Specific Integrated Circuits) on the discussion. zkTube Founder Lance Participated in Ethereum Scalability and New Ideas Exploring zkTube POS Mining and Mining.
What is ZkTube?
ZkTube is a layer 2 protocol based on K Rollup (layer 2 capacity scaling scheme with zero knowledge proof). In terms of token transactions according to the ERC20/ERC721 protocol, it can significantly reduce transaction costs and achieve 200 times more throughput than Layer1, with TPS up to 3000+. ZkTube will become a satisfactory solution for application scenarios with higher requirements for transaction distribution, timeliness, and high throughput Dapp.
What innovations does zkTube’s mining mechanism have compared to traditional public blockchain technology?
First of all, traditional public blockchain nodes have their miner code, so they can be mined as long as they are compiled as required. Nodes can also be developed on top of the basics through a mining pool model.
ZkTube has independently developed a zero-knowledge proof algorithm into a miner, and the Provens network will take over the mining duties. Therefore, the architecture of zkTube includes the Provens grid as well as the zkTube miner verification nodes.
In addition, the knowledge-testing algorithm does not require high CPU and memory for the large amount of computation involved. Therefore, there are also relatively high requirements for miners in setting up the machine. It is mainly used to competitively participate in the generation of zero-knowledge proofs for transactions in the zkTube network. Miners’ revenue has a lot to do with the amount of computation obtained and requires a large amount of CPU and memory to participate in the generation of zero-knowledge proofs. Therefore, a certain suitable configuration will be fitted by the miner to zkTube.
Eco-plan of zkTube
Open source payment network
PayTube Wallet is an open source payment wallet developed based on zkTube protocol for all users. We are able to provide an easy-to-use and low-cost Layer2 payment environment to our users thanks to our cross-platform mobile wallet, PayTube Wallet.
Solution N + Dapp
It is a Web 3.0 Dapp — PayTube Wallet based on zkTube protocol and realize interoperability with DeFi, NFT and other domains. PayTube Wallet will become an “entrance” of zkTube access to various Dapps.
Latest information about zKtube
2021–03–24, Uniswap, a decentralized cryptocurrency exchange, announces its V3 (launched on the mainnet on May 6). The zkTube technical team was also involved in the development of Uniswap V3 and was Granted the Uniswap V3 Hackathon.
2021–04.08 16:00 AEST (GMT + 10), zkTube has been awarded a public donation and project referral from the Ethereum Foundation.
Additionally, it has been recognised by users and developers from different countries around the world, such as Australia, China, France, Arabia, Vietnam, and India to name a few. Following that, users from other countries have also spontaneously formed communities to promote the operation of the zkTube Protocol.
Moreover, Paytube Wallet is the first decentralized Dapp building on zkTube Protocol. It’s a low fee and real-time global payment. Over 40 stable cryptocurrencies, including USDT, USDC, TUSD, GUSD are supported. Users can select L1 or L2 to connect to Dapps such as Defi, NFT, DEX, etc.
There have been many questions surrounding this issue in recent years, but there is still no effective and optimal solution for users. This made the zKtube team think and it became the motivation for the team to come up with optimal solutions to help ETH reduce the workload on the main network and help users reduce transaction fees. With solutions like zKtube it will help ETH make users happy. From my perspective, this could be the next project to set foot on Mars.
Join with zKtube
Mainnet: zktube.io (off-line）
Mainnet: zktube.io (not online yet)
Telegram: https: //t.me/joinchat/v0bgWm6reV0wYjRl
contact : khanhhoa95