Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Image Source: Przemysław Thomann
Ethereum 2.0 will trigger a seismic shift in the crypto space. Some of the changes that this upgrade is going to trigger are:
Raiden and Plasma are layer-2 protocols that allow Ethereum to conduct thousands of transactions off-chain in the form of state channels and side chains. Plasma, in particular, can theoretically allow a side chain to process thousands of transactions and commit just one single hash to the main Ethereum blockchain. While this sounds pretty amazing on paper, there is a significant problem here. If there is some dispute in one of these side plasma chains, there isn’t a proper mechanism that the users can use to exit the protocol efficiently.
This is where a technique called “ZK-Rollups” comes in. With the smart integration of zk-SNARKS, a privacy protocol, it will be...