Ethereum Faces ZK Proof Verification Challenges
Zero-knowledge proofs (ZKPs) are set to revolutionize blockchain privacy and scalability. By 2030, it’s estimated that 90 billion ZKPs will be generated annually. Though, Ethereum’s main chain is not equipped to handle this surge.
Currently, Ethereum can only manage about 150 million proofs per year, which is less than 0.2% of the projected demand. This limitation stems from high gas costs and block space constraints.
Just as choice data availability (DA) layers like Celestia and Avail emerged to solve Ethereum’s scaling issues, we now need alternative ZK proof verification methods. these layers offer dedicated blockchains for off-chain data storage, significantly reducing costs.
Alternative verification layers, such as zkVerify, provide a blockchain-based solution. They ensure fast, cheap, and secure verification through proof-of-stake incentives. This approach mirrors the success of alt DA layers, which have become integral to Ethereum’s roadmap.
Without these solutions, the future looks bleak. Verifying a single Groth16 proof on Ethereum can cost around $10, making it impractical for widespread adoption. The current stopgap, proof aggregation, introduces latency and requires users to trust aggregators, which is not ideal for a trustless ecosystem. The cost of sticking to the status quo is high, with gas prices skyrocketing and proof verification becoming a luxury few can afford.
History shows that pragmatists will find a way. Projects like zkVerify offer a promising path forward, ensuring the blockchain remains scalable and accessible. The ZKP explosion is inevitable, and Ethereum must adapt to keep up with the demand. The community must embrace these innovations to maintain Ethereum’s relevance in the ZKP-driven future.
Alternative verification layers are the key to handling the incoming proof deluge. By adopting these solutions, Ethereum can continue to evolve and stay ahead in the rapidly advancing world of blockchain technology.
- 90 billion ZKPs expected by 2030
- Ethereum’s current capacity is woefully inadequate
- Alternative verification layers offer a fast, secure, and cost-effective solution
Adopting these new technologies will be crucial for Ethereum’s growth and sustainability. The community must act swiftly to avoid the pitfalls of the past and ensure a robust, privacy-preserving blockchain future.
Modular Verification: The Future of ZKPs
Zero-knowledge proofs (zkps) are set to revolutionize web3,but the current setup has a major flaw. The cost of verifying these proofs on Ethereum is skyrocketing. At 30 gwei and $1,500 ETH, each proof costs $4.50. Multiply this by 90 billion proofs by 2030,and we face a trillion-dollar problem.this is unsustainable.
Horizen Labs Welcomes new VP of Product
horizen Labs has appointed John as their new Vice President of Product. John brings a wealth of experience in commercial banking and product development. He has a proven track record of identifying significant opportunities and leading teams to create data-driven solutions.
At Horizen Labs, John has evolved from a Product Manager to a key leader. He has been instrumental in shaping the company’s zero-Knowledge (ZK) product strategy. His journey at the company reflects his dedication to innovation and growth.
John earned his Bachelor’s degree in Operations Research and Facts Engineering from Cornell University. His passion lies in building scalable systems powered by cryptography. These systems aim to tackle real-world challenges.
His role involves guiding the company’s ZK product strategy.He is committed to leveraging cryptography to solve complex problems. His background includes leading cross-functional teams to develop cutting-edge products.
John’s expertise in operations research and information engineering has been crucial. He is dedicated to creating systems that make a real difference. His work focuses on cryptography-powered solutions. This move is expected to drive the company’s growth in the crypto space.
His educational background and professional experience make him a valuable asset. He is set to steer the company towards new heights. His vision is to create products that are both secure and user-kind. This appointment is a significant step for the company. It highlights Horizen Labs’ commitment to innovation.
