60 million NFTS to be minted at once, according to the founder of StarkWare.
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On August 7 in Seoul, the creator of StarkWare announced the introduction of the company’s new Recursive validity proof technology.
Eli Ben-Sasson, the founder of zero-knowledge (ZK) rollup technology business StarkWare, claims that the company’s new Recursive validity proofs have the potential to merge up to 60 million Ethereum blockchain transactions into a single transaction.
On August 7, after announcing the start of manufacturing of StarkWare’s new Recursive validity proof technology during a presentation, the co-inventor of zkSTARK made the remarks at ETH Seoul.
Ben-Sasson noted that they have already been rolling out 600,000 mints of nonfungible tokens (NFTs) using the ImmutableX protocol and that recursive validity proofs could increase transaction throughput by a factor of at least 10 in comparison to regular Validium scaling.
“I would say the minimum I would say is 10x […] We’ve been putting 600,000 mints of NFTs, which resulted in a 10 gas per mint. We can now at the very least take 10 of such proofs and generate a recursive proof of all 10 of these things,” he explained.
“We could go to six million at the very least, and this is in the near term. That’s something that would be very easy to do.”
Ben-Sasson did note, though, that the figure may go up to 60 million NFTs to be minted with further engineering and tweaking, adding:
“I think also reducing the latency by another factor that’s 5 to 10x is also very doable.”
StarkNet is a permissionless, decentralized layer-2 ZK-rollup that scales transactions using Validium. Validiums function similarly to conventional ZK-Rollups by combining thousands of transactions into a single transaction. Multiple Validium blocks can be combined into a single proof using the new Recursive validity proof technology from StarkNet.
As layer-2 scaling solutions like ZK-Rollups and StarkNet’s Recursive validity proofs may offload most of the network congestion and data availability problems that have created trouble on the Ethereum Mainnet, this scaling solution could be a game-changer for Ethereum. Currently, the Mainnet for Ethereum can process 12 to 15 transactions per second (TPS).
Recursion is fantastic for scaling because it decreases gas costs, has a bigger proof capacity, and delivers lower latency, according to Ben-Sasson during his talk at ETH Seoul.
Since June 2020, StarkNet has been operational on the Ethereum mainnet. The protocols it presently powers are dYdX, Immutable, DeversiFi, and Celer.
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