Blockchain and cryptocurrency smart contract platforms have gained a lot of attention but have yet to achieve mass adoption due to scalability and user experience issues. Even on Ethereum, the most widely used smart contract platform, there are no significant Dapps that have been mass-adopted yet. There have been a few instances where one or the other application was temporarily successful in gaining a substantial user base, but it resulted in the entire network being paralyzed during periods of high load.
zkTube is a project that has been built and developed on Layer 2 with the use of ZK-Rollup technology and the PLONK principle. It can improve scalability via the transfer of batch transmission to single transactions.
Problem
Decentralized Apps are making huge progress but the current blockchain ecosystem is not prepared to scale as per the demand. Slow block confirmations, block size limitations and computations — in smart contract based blockchains — need to be solved before we target mass adoption by mainstream users. And most importantly, it needs awesome user experience.
Slow transactions
Blockchain transactions are slow and have variable, sometimes exasperating transaction times. Most blockchain protocols have a limit on the block size and it can take a certain amount of time to generate a block. Each transaction also has to wait for multiple block confirmations due to potential chain re-organisations.
These limitations are often necessary for a public blockchain as a block needs to be validated and must be downloaded by a certain number of nodes to keep it really decentralized.
High transaction fees
Day by day, the blockchain market is growing and crypto assets are increasingly being created, transferred, and sold, often involving multiple crypto tokens. Every decentralized application has it’s own token and economy. Paying them for their services requires on-chain transfers. Ethereum charges gas fees on each transaction.
Fees are an important factor to reward validators and prevent certain kind of security attacks like DoS. But, the problem is that fees vary depending upon the pending transaction pool size due to the limited block size.
Low transaction throughput
Public blockchains have to maintain a certain amount of time lag between intermediate block production so as to ensure ample time for block propagation. Also, the block size needs to be low, so as to ensure quick propagation of the block through the network. This means that the number of transactions in a particular block needs to be fairly limited.
Scalability
Each block on a blockchain must be validated by multiple nodes and/or compute state in case of a smart contract based blockchain. Each node has to manage a copy of the state and all blocks. While the chain size is increasing day by day, maintaining and validating the whole blockchain is correspondingly getting more difficult. This is a huge risk for decentralization as an idea, overall.
Multiple micropayment channels
Some payment channel solutions solve the problem of micro-payments. However, opening and managing channels with multiple DApps or users is complex. Additionally, the speed and convenience of mediated payments over channels is still up for debate.
Poor usability
The current system is inherently bad for normal users. For example, users need to have ether and pay gas fees if they want to spend their ERC20 based tokens.
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.
zKtube offers a great solution
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-planning 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.
Conclude
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. This is a project that is receiving great interest from crypto fans.
media channel
Website: zktube.io
Twitter: https://twitter.com/zktubeofficial
Medium: https://zktube.medium.com/
Facebook: https://www.facebook.com/zkTube.io/
Telegram: https://t.me/zkTubeProtocol
Discord: https://discord.gg/ZhcSuxhX4S
Testnet: https://rinkeby.zktube.io/wallet
Author information
Btt Username : IvanClarkson1
