Hot out of the hatch from the auspices of the MetisDAO Foundation, Zero-knowledge rollup ZKM excitedly announced its vision – transforming Ethereum into the “universal settlement layer for all blockchain and non-blockchain applications.” This proclamation carries an air of ambition and versality seldom witnessed in the cryptosphere.
What ZKM brings to the table is a hybrid approach that communicates the best of both worlds from Optmistic and Zero-Knowledge rollups into a single, consolidated solution. But what does it mean for the average enthusiast? It implies a significant uptick in transaction throughput, paired with considerable transaction cost reduction. For anyone in the crypto world, these are encouraging developments.
ZKM’s optimised system is slated to commence operations on the Ethereum testnet when the new year makes its entrance. A hybrid rollup from ZKM is set to see its first application in the Metis network. This will facilitate layer 1 chain to perform instant transfers straight from layer 2 – a case of expedited asset transfers with no limitations for the beneficiaries within the Metis ecosystem.
While ZKM manifests its vision of Ethereum as a universal settlement layer, it carries a bifocal agenda. Parallel to it, ZKM aims to upgrade existing layer-2 networks, including Metis and Optimism, to make its rollup compatible with other layer 1s, such as Solana, Avalanche and BNB Chain. But it doesn’t stop there; ZKM further plans to extend its powerhouse infrastructure to non-blockchain domains, namely cloud computing, artificial intelligence (AI), and Internet of Things (IoT).
Ethereum, the chosen vessel for ZKM’s grand mission, enjoys widespread acclaim and an enviable market presence. However, if ZKM gets its way, Ethereum might become a lot more than a popular cryptocurrency. It might herald a new epoch ushering blockchain technology into a myriad of new and hitherto unexplored applications across the tech sphere. This ambitious venture raises questions about blockchain technology’s adaptability and future impact.
On the other hand, a discerning eye might question how seamlessly this technology can integrate with non-blockchain systems and whether transaction speed and cost effectiveness alone are enough to drive new applications towards blockchain-based solutions.
The coming months will witness whether ZKM’s ambitious hybrid rollup can shore up against these tests and emerge as the new standard for the Ethereum network and beyond.
Source: Coindesk
