TL;DR

• A ZkEVM Ethereum ​layer-2​ network, called 'Scroll' has just launched.

• Each transaction in the group has been previously verified. Meaning the computers processing them don't need to check that they're legitimate (zero knowledge is required to prove they're legit).

• Without ZK technology, the process of verifying transactions on the Ethereum network looks more like truck #2 - a long and arduous computational process where each transaction is checked, one-by-one​.

Full Story

Ok, speed round!

What just happened?

A ZkEVM Ethereum ​layer-2​ network, called 'Scroll' has just launched.

(Ridiculous title, important technology).

What does it do?

It makes Ethereum transactions faster and cheaper!

How does it work?

Using Zero Knowledge Proofs - which function a little something like this:

Imagine you're loading two trucks with cargo.

When loading Truck #1, all the cargo has been pre-checked (everything that is meant to be in each box has been reviewed and verified).

But when loading Truck #2, that cargo 'pre check' hasn't been carried out. Which means you need to open, check, verify, repack, and load every. single. box.

The Scroll network uses 'Zero Knowledge Proofs' (ZK Proofs), which function like the cargo on truck #1.

Each transaction in the group has been previously verified.

Meaning the computers processing them don't need to check that they're legitimate (zero knowledge is required to prove they're legit).

Without ZK technology, the process of verifying transactions on the Ethereum network looks more like truck #2 - a long and arduous computational process where each transaction is checked, one-by-one.

Alright, now you know!