1 Project that you may wanna start paying attention to is #telos , and not just because the token is up over 150% during the past year.
But because they are positioning themselves as the focal point for deploying Zero Knowledge applications.
We’ll get to exactly what I mean by that in just a minute, but let’s start at the beginning, because I think a lot of people have heard about Telos, but just have no clue what they are doing…
Telos is a fork of the EOS/IO code, that attempts to improve the EOS blockchain by Eliminating the Small number of whale accounts that controlled the network, and by revising how new blocks are produced to better secure the network.
To visualize how Telos works, first you have the Base Layer, also known as Telos Zero. This layer provides functionalities such as consensus, account generation, authentication, storage, P2P communication, and the #webassembly runtime.
But in December of 2021 they launched the Telos EVM, which they claim is The world's fastest Ethereum Virtual Machine.
And you’re probably asking yourself… How fast is the world’s fastest EVM?
Well, Telos #evm can process 15,200 Transactions per second or 1,826 Swap Transactions per second, while new blocks are produced every half a second.
So you have the base layer aka Telos Zero, with On Chain governance currently live. And You also have the Telos EVM,
giving developers a production-ready environment to begin building Web3 applications.
And now Telos is building their first Layer 2 Rollup solution called K2-18, which will be a zkEVM Web3 Gaming Network dedicated to prioritizing the users experience.
So the goal is to have many zkEVM rollups that specialize in different use cases, and then to have various applications and smart contracts that run on each Rollup.
But what is a zkEVM?
A zero knowledge ethereum virtual machine, is a virtual machine that executes smart contract transactions and proves correctness using zero-knowledge proofs.
And a Zero knowledge proof is a cryptographic technique that allows someone to prove that a statement about some secret information is true without revealing the actual secret itself.
These cryptographic proofs are referred to as zkSnarks, short for Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge.
So when you think about this in term of blockchain applications, zk-SNARKs offer enhanced user data protection by facilitating transaction verification without revealing all necessary information to execute on chain.
zkSnarks however are not new, the technology has been around and implemented before. But as I said in the beginning of the video, Telos is positioning themselves as the focal point for deploying Zero Knowledge applications.
They have released a new white paper, Snarktor: A Decentralized Protocol for Scaling SNARKs Verification in Blockchains.
Now, according to Telos, SNARKtor is a scalable and robust protocol for decentralized recursive proof aggregation. This means It allows aggregating many proofs for various different transactions into a single unique proof.
And by aggregating what would have been many on-chain events into a single proof it opens up a world of increased blockchain efficiency.
So I know we talk a lot about Polkadot here, and that’s definitely not going to change.
But as we move through 2024, maybe our goal should be to focus on being a little less tribal and a lot more interoperable.
Until the next time, be safe.
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15 окт 2024
