- OKX Ventures invests in Ethereum L2 Scroll
- OKX says the strategic investment is supposed to assist Ethereum scalability.
- Scroll is anticipated to go stay on the Ethereum mainnet in 4 months’ time.
OKX Ventures, the enterprise arm cryptocurrency exchange OKX, has introduced a strategic investment in Scroll, a zkEVM-based zkRollup platform on Ethereum.
A press release OKX revealed 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 workforce 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 shifting them off-chain for processing.
It’s a layer-2 resolution designed to make sure better utilization and interplay with the mainnet with out sacrificing the underlying safety mechanisms. Once it goes stay on Ethereum, Scroll could possibly be utilized throughout token transfers and specialised purposes. Implementation of general-purpose good contracts will even assist with total adoption of the Ethereum purposes.
Unlike some layer-2 options, Scroll is not going to require adjustments to the Ethereum protocol. This is as a result of implementation for the off-chain resolution is impartial of Ethereum’s layer-1 mainnet. Scroll is anticipated to go stay on the Ethereum mainnet in 4 months’ time and its Alpha launch is now accessible to all.
Scroll has seen over 672,700 distinctive pockets addresses and recorded greater than 2,916,472 transactions.
