Author: Akindele Hambolu; Translation: Huohuo/Baihua Blockchain
With the continuous rise in the adoption of decentralized applications (dApps) and blockchain technology, scalability and privacy have become key challenges. The demand for faster and more secure transactions is growing, requiring innovative solutions that can effectively address these issues. One promising breakthrough in this field is zkEVM Validium, which combines zero-knowledge proofs (zk) with the Ethereum Virtual Machine (EVM) in a novel way.
In this article, we will explore the advantages of zkEVM Validium and its potential to fundamentally change blockchain scalability and privacy.
1. Enhanced Scalability
Traditional blockchain networks, such as Ethereum, often face scalability bottlenecks due to limited throughput. Although the Ethereum Virtual Machine (EVM) is powerful, it can only process a limited number of transactions per second (TPS). This limitation leads to high gas fees and slow transaction confirmations during network congestion, hindering mainstream adoption and user satisfaction.
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Polygon’s zkEVM Validium addresses this scalability issue by offloading most transaction processing to an auxiliary layer or “Validium chain.” The Ethereum main chain only verifies the cryptographic proofs generated by the Validium Chain, significantly reducing the computational burden on the main chain. As a result, zkEVM Validium achieves significant scalability improvements, potentially enabling thousands of transactions per second, similar to centralized payment systems.
2. Low Transaction Costs
High gas fees have always been a persistent issue on the Ethereum network. As transaction volume increases, the cost of executing simple transactions also rises significantly, undermining the efficiency and usability of decentralized applications.
Polygon’s zkEVM Validium effectively mitigates this problem by reducing the amount of on-chain computation, resulting in significantly lower gas fees.
On Polygon’s zkEVM, the cost of processing a batch of 10 million gas is only $0.0259, which is equivalent to $0.00005 per transfer.
By offloading most of the computation to the Validium chain, users can experience lower transaction costs and more affordable dApp interactions. This cost-effectiveness makes zkEVM Validium an attractive solution for decentralized finance (DeFi) protocols, non-fungible token (NFT) markets, and other blockchain-based apps that rely on frequent and cost-effective transactions.
3. Enhanced Privacy and Security
Privacy is a fundamental concern in the blockchain field. While traditional public blockchains provide pseudonymity, they lack robust privacy protection for sensitive data and transaction details. zkEVM Validium leverages Ethereum and zero-knowledge proofs to significantly enhance privacy.
In zkEVM Validium, users can submit transactions to the Validium chain in a privacy-preserving manner. Zero-knowledge proofs verify the validity of transactions without revealing underlying data, ensuring the confidentiality of sensitive information. This enhanced privacy layer also helps prevent frontrunning attacks, where malicious actors exploit transaction order information to gain unfair advantages.
4. Interoperability with Ethereum
One of the most notable advantages of zkEVM Validium is its compatibility with the Ethereum ecosystem. Existing Ethereum smart contracts can be seamlessly deployed on the Validium chain without modifications. This interoperability allows developers to leverage the vast array of Ethereum-based applications and tooling, simplifying the adoption process.
In addition, zkEVM Validium inherits Ethereum’s strong security features, benefiting from a proven consensus mechanism and a large network of miners protecting the main chain. This compatibility ensures that zkEVM Validium can maintain the same level of trustlessness and security as Ethereum while providing significant scalability and privacy improvements.
zkEVM Validium offers a promising solution to two of the most pressing challenges faced by the blockchain industry: scalability, cost, and privacy. By utilizing zero-knowledge proofs to handle off-chain transactions and verify them on-chain, zkEVM Validium achieves significant scalability enhancements and significantly reduces transaction costs.
Furthermore, the enhanced privacy features not only protect sensitive data but also contribute to building a more secure and robust blockchain ecosystem. With seamless interoperability with Ethereum, zkEVM Validium opens up a world of possibilities for decentralized applications and smart contract development.
As the blockchain field continues to evolve, zkEVM Validium stands at the forefront of innovative technology, paving the way for mass adoption and unlocking the full potential of DeFi, dApps, and more. It represents a transformative step towards a future of blockchain technology that is more scalable, private, and secure.