ZKM to make its debut on the Ethereum Testnet in January 2024.
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ZKM, the zero-knowledge virtual machine solution, is set to transform the world of blockchain technology. ZKM aims to establish Ethereum as the universal settlement layer for both blockchain and non-blockchain applications, revolutionizing the way transactions are conducted across various industries.
Set to make its debut on the Ethereum Testnet in January 2024, ZKM offers exciting potential applications in various domains, including decentralized finance (DeFi), Internet of Things (IoT), zero-knowledge machine learning (ZKML), and cloud computing. ZKM aims to unite the highly fragmented blockchain industry, giving networks of all kinds the ability to easily and securely connect to the most secure, most widely used blockchain.
One of the key benefits of ZKM is its ability to provide privacy and confidentiality in a trustless environment. By leveraging zero-knowledge proofs, ZKM ensures that sensitive data remains secure throughout the transaction process. This allows for secure interactions between parties without disclosing underlying information, making ZKM an ideal solution for applications in finance, healthcare, and supply chain management.
With a focus on fostering a community-driven ecosystem, ZKM is an open-source project that encourages collaboration and contributions by developers of all stripes. This collaborative approach ensures that ZKM remains at the forefront of innovation and continually evolves to meet the ever-changing needs of the blockchain community.
ZKM's protocol will roll out in three stages:
–Stage 1: Hybrid Rollup. ZKM will deploy its zkVM infrastructure layer to sit beneath the architecture of Optimistic Rollups. As a result, Optimistic Rollups will retain their fast, inexpensive, and easy-to-use framework, while also giving users the ability to rapidly withdraw back to Layer 1 Ethereum, using ZK proofs to bypass the usual 7-day waiting period. By combining Optimistic and ZK rollup technologies, ZKM will enable a new brand of Ethereum scaling: Hybrid Rollup.
–Stage 2: Connecting alt-Layer 1 networks to the Ethereum ecosystem. By providing a zero-knowledge virtual machine that’s compatible with numerous blockchain languages (Rust, WASM, COSM, R, C, etc.), ZKM will securely connect major Layer 1 networks to the Ethereum ecosystem, without the vulnerabilities of cross-chain bridges.
–Stage 3: Web3 non-blockchain devices. Cloud Computing, IoT, Machine Learning, and Virtual Reality devices all carry security risks. ZKM’s zero-knowledge virtual machine will connect these and other devices to Ethereum, thus inheriting the security of blockchain’s most secure network.
Commenting on the launch of ZKM, the MetisDAO Foundation said: "We are thrilled to unveil ZKM, a groundbreaking project that’s building a zero-knowledge virtual machine to help Ethereum become the universal settlement layer. We invite developers and partners to join us on this exciting journey as we revolutionize the way transactions are conducted on blockchain."
ZKM is poised to drive significant changes within the blockchain industry, establishing Ethereum as the go-to settlement layer for both blockchain and non-blockchain applications. With its launch on the Ethereum Testnet just around the corner, the ZKM team is actively seeking collaboration and partnerships to accelerate the adoption of this groundbreaking technology.
Social Handles:
Medium: https://medium.com/@ProjectZKM
Twitter: https://twitter.com/ProjectZKM
YouTube: https://www.youtube.com/channel/UCTIld7iTTpx9PimXQwaodwg
Contact Info:
Name: Elliot Rolvink
Email: Send Email
Organization: ZKM
Website: https://www.zkm.io
Release ID: 89108092
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