By: Eva Baxter
A recent significant development in the world of blockchain by the =nil; Foundation is the introduction of its proprietary Type-1 Zero-Knowledge Ethereum Virtual Machine (zkEVM), powered by autonomous circuit compiler zkLLVM. This technology is designed to enhance Ethereum's scalability, increasing its potential to over 60,000 transactions per second via zkSharding, while also promising high-end security and full compatibility with the Ethereum network.
The =nil; Foundation has clarified that its zkEVM resolves existing zkEVM solutions' key security issues. Despite the launch of numerous zkRollups on the Ethereum mainnet in response to scalability requirements, security risks have emerged due to vulnerabilities spotted in audits. The zkEVM operated by =nil; is reported to sidestep these issues thanks to its automated process, resulting in less human intervention, reduction in human error, costing auditing, and providing greater comprehensibility to a wider audience.
The zkEVM introduced by =nil; further boasts of seamless upgradability and high adaptability to the Ethereum Virtual Machine (EVM) alongside its compatibility with evmone, a C++ version of Ethereum’s base execution environment. This is critical to enhancing security and speeding up implementation. =nil; Foundation's continuous research and development towards Ethereum scalability infrastructure have been ongoing since 2018, along with other introductions like Placeholder Proof System and native Proof Market.
Earlier this year, =nil; had also managed to secure $22 million in a funding round that saw Polychain Capital's participation. This latest development could be an effective solution to the Ethereum network's pressing needs.
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