What are zk-rollups?
zk-rollups are a layer 2 scaling solution designed to enhance the scalability of blockchain networks, particularly Ethereum. The term "zk" stands for zero-knowledge, which refers to a cryptographic method that allows one party to prove to another that a statement is true without revealing specific information about the statement itself.
In zk-rollups, multiple transactions are bundled together (or "rolled up") into a single batch that is then submitted to the Ethereum mainnet. This greatly reduces the amount of data that needs to be processed and stored on-chain, leading to lower gas fees and faster transaction speeds.
The rollup utilizes zero-knowledge proofs, specifically zk-SNARKs or zk-STARKs, to ensure the validity of the transactions being processed. This means that users can validate transactions without needing to disclose their private data or the details of each transaction.
By minimizing the data required to be stored on the blockchain, zk-rollups preserve the security and decentralized nature of the network while enhancing transaction throughput, making them a promising solution for scalability issues faced by Ethereum and other blockchains.
In summary, zk-rollups represent a significant advancement in scalability technology, allowing Ethereum to handle many more transactions while maintaining high levels of security and privacy.