OKX Ventures invests in Ethereum L2 Scroll
OKX says the strategic investment is supposed to assist Ethereum scalability.
Scroll is predicted to go reside on the Ethereum mainnet in 4 months’ time.
OKX Ventures, the enterprise arm cryptocurrency trade OKX, has introduced a strategic investment in Scroll, a zkEVM-based zkRollup platform on Ethereum.
A press launch OKX printed on Tuesday stated the investment is focused at serving to with Ethereum scalability by way of off-chain transactions.
Scroll makes use of zk-Rollups to spice up Ethereum scalability
With Scroll constructed to permit for native compatibility for Ethereum-based dApps and instruments, the collaboration will see the crew faucet into zero information proofs and zkRollup expertise to reinforce transaction velocity and decrease consumer prices.
Scroll helps obtain the excessive throughput by way of off-chain computations, with solely a validity proof submitted to the chain. This is what zkRollup is all about – taking transactions and bundling them into one earlier than transferring them off-chain for processing.
It’s a layer-2 resolution designed to make sure higher utilization and interplay with the mainnet with out sacrificing the underlying safety mechanisms. Once it goes reside on Ethereum, Scroll may very well be utilized throughout token transfers and specialised functions. Implementation of general-purpose sensible contracts can even assist with general adoption of the Ethereum functions.
Unlike some layer-2 options, Scroll won’t require modifications to the Ethereum protocol. This is as a result of implementation for the off-chain resolution is unbiased of Ethereum’s layer-1 mainnet. Scroll is predicted to go reside on the Ethereum mainnet in 4 months’ time and its Alpha launch is now obtainable to all.
Scroll has seen over 672,700 distinctive pockets addresses and recorded greater than 2,916,472 transactions.
