The Zero-knowledge rollup ZKM has emerged from incubation under the MetisDAO Foundation, expressing its ambition to establish Ethereum as the “universal settlement layer for all blockchain and non-blockchain applications.”
Backed by the foundation responsible for the Metis, a layer-2 Ethereum protocol, ZKM is pursuing a mixed strategy that merges Optimistic and Zero-Knowledge rollups into a single framework, as detailed in an announcement sent via email on Thursday. Rollups serve as a method to aggregate transactions, enhancing throughput while reducing transaction expenses.
The initiative is set to commence operations on the Ethereum testnet in January of the upcoming year.
Metis will be the inaugural network to implement ZKM’s hybrid rollup, facilitating immediate transfers from the layer 2 to the layer 1 chain.
“From the standpoint of user experience, all participants within the Metis ecosystem will enjoy instantaneous, unlimited asset transfers,” ZKM remarked in a statement to CoinDesk.
ZKM indicated its objective to enhance current layer-2 networks, including Metis and Optimism, with the ambition to ensure its rollup’s compatibility with other layer 1s such as Solana, Avalanche, and BNB Chain.
Following that, ZKM declared its intention to position Ethereum as a settlement layer for non-blockchain applications, providing its infrastructure to sectors like cloud computing, artificial intelligence (AI), and the Internet of Things (IoT).
Edited by Sheldon Reback.
https://www.coindesk.com/tech/2023/07/13/zero-knowledge-rollup-zkm-sets-out-to-make-ethereum-universal-settlement-layer/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
