zkTube was Introduced by CoinDesk ETH 2.0 (Newsletter Valid Points)
The Ethereum Conference is approaching, and the London Hard Fork is currently in preparation. This upgrade is mainly to solve two problems, one is to reduce the transfer fee of Ethereum, and the other is to make the Ethereum network run more smoothly. The upgrade to deal with various inefficiencies of Ethereum has attracted the attention of the entire encryption community and the media.
zkTube was introduced in the CoinDesk ETH2.0 Newsletter. In the article, CoinDesk focuses on the technical advantages of zkTube, such as ZK Rollup, high throughput, and also claims that zkTube is the first application that uses PLONK technology for mining, and it is very environment-friendly to decentralized energy management.
zkTube is a Layer 2 protocol created by the Australian technical team that can effectively solve the problem of Ethereum scaling. At present, more than 3,000 DApps are running on the Ethereum network, and the prices of various assets are also increasing. Correspondingly, network congestion and high transaction fees haven’t been resolved. Layer 2 technology has high expectations, but looking at the global market, projects that can develop effective solutions are numbered, and one of them is zkTube.
In brief, zkTube is a project built and developed on Layer 2 based on ZK Rollup technology using the PLONK protocol. At present, it has great advantages in solving the Ethereum scaling, also guaranteeing transaction speed and security at the same time.
zkTube has the characteristics of fast transfer. Congestion of the network causes transaction delays, which can be quickly verified on the zkTube network. When a block with SNARK proof is sent to the L1 smart contract and verified, all transactions contained in the block will be confirmed, but L2 will not be affected because the user’s transfer calls the account balance, transfer between L2 is in real-time. Using the smart contract to verify the correctness of a Zero-Knowledge proof is relatively low, so does the transaction fee when transfers on Ethereum.
L2 shared part of the work on Ethereum, liberated part of the Ethereum network, and effectively improved the operation efficiency of Ethereum. zkTube is a publicly donated project from Ethereum. It is committed to building the Ethereum Layer 2 ecosystem and realizes the Layer 2 scaling plan step by step through ZK Rollup technology.
zkTube is not only a Layer 2 network solution but also building its ecosystem. Based on the characteristics of real-time payment, high throughput, and low transaction fee, zkTube can show its talents in the payment and realize more application value; PayTube Wallet is a Web3.0 application on the zkTube network, users can access the wallet through any Ethereum network Dapp to transfer, browse and store currency; zkTube will support a large number of games and display Dapp in PayTube; zkTube Web 3.0 also develops its browser to facilitate users to query transaction records; zkTube basic protocol NFT can also be extended to support NFT at L2.
At present, zkTube is constantly adding new partners and building communities around the world, thereby forming a stronger consensus and jointly promoting the overall development of zkTube. Layer 2, a race track that all parties compete for, zkTube will surely stand out with its strong technical research and development capabilities, realizing more application value.
zkTube can greatly reduce transaction fees through batch processing and Zero-Knowledge proof functions. zkTube supports data interaction between L1 DApp and L2; However, in the future, there will be more L2 solutions, not just a Rollup, but multiple Rollups, such as Optimism, Arbitrum, etc. Accordingly, zkTube focuses on the development of Cross-Rollup, so that the assets in Ethereum can be migrated safely and efficiently.
You can also learn more about zkTube through the following channels:
Websites: zktube.io / paytube.io