TL;DR
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As we covered in our first article:
Layer 2’s are about to pop off following Ethereum’s Dencun upgrade — and by ‘pop off’ we mean ‘get way cheaper.’
…but how?
We’re glad we asked!
A big contributing factor to this fee reduction is the optimization of data via zk-proofs, which…how do we explain this?
Let’s say you had 100 movies on a hard drive, and you asked two separate people to rank them from best to worst…
If Person #1 had already seen each movie, while Person #2 hadn’t seen any of them — who do you think is handing their list in first?
Def Person #1.
Zk-proofs work in a similar way…
They process the information once (aka ‘watch the movie’) then can answer basic yes/no questions based off of those learnings, indefinitely.
In a crypto context, the question would be more like:
“Is this group of 1000 transactions legit, verified, and good to be processed?”
Old answer: “idk, let’s go through them one at a time and find out.”
New answer: “yep.”
Ok, now you know!
