- ZkEVM brings major scalability and privacy improvements to Ethereum by enabling zero-knowledge rollups. This opens the door to new use cases and dApps.
- As more projects build on and integrate with ZkEVM, it will help Ethereum retain its dominant position in DeFi and Web3.
- By making transactions private, ZkEVM unlocks types of dApps not possible before, like private DEXs. This brings new developers and users to Ethereum.
The introduction of ZkEVM on Ethereum represents an enormously positive development that promises to expand the capabilities and utility of Ethereum in some exciting new ways. By implementing zero-knowledge rollups, ZkEVM provides a mechanism to dramatically improve Ethereum’s scalability. Instead of being limited to 15 transactions per second on layer 1, ZkEVM roll-ups will be able to process hundreds or potentially thousands of transactions per second at a low cost.
ZkEVM Provides Transaction Privacy
This scaling solution unlocks tremendous potential. It paves the way for exponentially more users and transactions on Ethereum-based decentralized applications (dApps) without running into congestion issues or skyrocketing gas fees. The improved throughput will allow existing dApps to run faster and cheaper, improving user experience. It also opens the door for innovative new dApps that were previously not viable due to Ethereum’s throughput limitations.
Additionally, ZkEVM introduces the ability to make transactions private using zero-knowledge proofs. This is a game changer, as it allows for dApps that require privacy to be built on Ethereum. For example, decentralized exchanges, identity systems, voting applications, and many other solutions require privacy, which was not possible on the public Ethereum blockchain previously. By enabling privacy in a secure, decentralized way, ZkEVM makes Ethereum amenable to many more use cases.
ZkEVM Enhances Scalability
Taken together, these two major technical breakthroughs of scalability and privacy signify tremendous progress for Ethereum. ZkEVM unlocks Ethereum’s potential to support vastly more activity across a wider range of real-world use cases. By becoming more scalable, usable, and private, Ethereum is poised to cement itself as the preeminent smart contract blockchain for decentralized finance and Web3.
ZkEVM promises to supercharge Ethereum’s network effects. The improvements will attract more developers, users, and ecosystem projects to build on Ethereum. This will lead to greater decentralization and security as well as a richer, more diverse community. Ethereum’s advantages as the most established, resilient, and decentralized smart contract platform will be even more strengthened.
Summary
It is an exciting time for the Ethereum ecosystem. The coming years promise to be transformative as ZkEVM roll-ups see rapid real-world adoption. As more dApps integrate this technology, they will be able to support more users with faster transactions and new privacy-protecting functionality. Ethereum is set to empower the next generation of decentralized apps to achieve scale while retaining the core values of the technology – openness, transparency, censorship resistance, and self-sovereignty. ZkEVM unlocks Ethereum’s immense potential to power decentralized finance, Web3, and beyond.
