Plasm Network, multi-virtual machines scalable smart contract platform on Polkadot, tweeted that ZK Rollups are officially on their way to Polkadot:
“Update! Excited to inform you that milestone 1 of our ZK Rollups grant has been accepted by Web3 Foundation. Plasm is a ZKRollups compatible platform. We have successfully deployed one of the most complicated Solidity contracts on the Plasm’s EVM.”
Details Of The ZK Rollups Integration
Headed by Shinsaku Ashizawa, a Rollups engineer at Plasm Network, they successfully deployed Matter Labs’ Solidity ZK Rollup contracts on Substrate and Plasm Network. Plasm Network formerly provided support to both Ethereum Virtual Machine and WebAssembly. Now with this integration, it is compatible with ZK Rollups as well. Plus, they have managed to deploy a highly complicated solidity contract on Plasm Network’s Ethereum Virtual Machine.
Why Are Rollups Necessary For Polkadot?
ZK Rollups is one of the main properties that the Ethereum blockchain will be bringing into its ecosystem following its ETH 2.0 upgrade. Due to this, it will be necessary for Polkadot to integrate rollups as well to enable seamless compatibility. Along with these, Rollups are critical in the current ecosystem because of the following reasons:
- A multi-chain architecture is the future of the blockchain ecosystem.
- Ethereum is currently the number one dApp platform and has one of the most mature developer ecosystems. These developers should be able to build multi-chain apps without sacrificing Rollups functionalities.
- It will bring in vertical off-chain solutions without sacrificing on-chain data availability. Security and privacy will help increase scalability by a significant amount.
- Smart contracts will now be deployable on Layer-2, which will reduce congestion in the main blockchain.
What Are ZK Rollups?
ZK-Rollups is a layer-2 scaling solution (a solution that’s not integrated with the underlying blockchain architecture but exists as a different layer above it). In this solution, the funds are held by a smart contract on the main chain while it performs computation and storage off-chain. Zero-knowledge proofs ensure the validity and credibility of these side-chains.
About Plasm Network
Plasm Network is a dApps hub on Polkadot that supports Ethereum and layer2 solutions like ZK Rollups. Their main aim is to support multiple blockchains and virtual machines like EVM and WASM.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Credit: Source link