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60 million NFT could be minted in a single transaction, says StarkWare founder



Source: Cryptonews

The founder of zero-knowledge (zk) tech company StarkWare, Eli Ben-Sasson, claims that his new recursive validity tests could theoretically roll up to 60 million transactions into a single one on the Ethereum blockchain.

The zkSTARK co-inventor made the comments to Cointelegraph during ETH Seoul on Sunday, after announcing the start of production of StarkWare’s new recursive proofreading technology during a presentation. 

Speaking to Cointelegraph, Ben-Sasson said that recursive proofs of validity could further scale transaction throughput to a factor of at least ten compared to standard Validium scaling, noting that they have already been rolling the 600,000 mints. non-fungible tokens (NFT) in the ImmutableX protocol.

“I would say the minimum is 10x […] We have been putting in 600,000 NFT mintages, which has resulted in a gas of 10 per mintage. We can now, at a minimum, take 10 of those tests and generate a recursive test of all them,» he explained:“We could reach six million at least, and this is in the short term. It is something that would be very easy to do.”

However, Ben-Sasson also added that the figure could «reach 60 million with more engineering and adjustments» , adding: «I think reducing latency by another factor of 5 to 10 times is also very feasible.»

StarkNet is a permissionless, decentralized Layer 2 zk-Rollup that uses Validium to scale transactions. Like standard zk-Rollups, Validium works by aggregating thousands of transactions into one. StarkNet’s new recursive validity testing technology can bundle multiple Validium blocks into a single test.

This scaling solution could be a game changer for Ethereum, as Layer 2 scaling solutions such as zk-Rollups and StarkNet’s recursive validity tests can offload much of the network congestion and outage issues. availability of data that have caused problems on the Ethereum mainnet. Currently, the Ethereum mainnet can process transactions at a rate of 12-15 transactions per second (TPS).

During his presentation at ETH Seoul, Ben-Sasson noted that recursion is great for scaling as it lowers gas costs, has higher testability, and offers lower latency. 

Starknet just turned on recursion for their production SHARP systems. Recursive providing can drastically decrease the amortized cost per transaction on L1, and introduces a secure STARK-based model for layer 3. It’s exciting to witness the profound scaling solutions rolling out.— (@strangechances) August 7, 2022Starknet just enabled recursion on their production SHARP systems. Recursive testing can dramatically lower the amortized cost per transaction in L1, and introduces a STARK-based secure model for layer 3. It’s exciting to see the deep scaling solutions being developed.

StarkNet has been up and running on the Ethereum mainnet since June 2020. It currently powers protocols like dYdX, Immutable, DeversiFi, and Celer.

Also speaking at ETH Seoul on Sunday, Ethereum founder  Vitalik Buterin expressed his enthusiasm for zk-Rollups, also stating that the scaling solution was superior to Optimistic Rollups:“In the long run, ZK-Rollups will eventually beat Optimistic Rollups because they have these key advantages, like not needing a seven-day withdrawal period.”

To date, the Ethereum-based scaling solutions with the most Total Value Locked (TVL) are Arbitrum, Optimism, dYdX, and Loopring.

Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.

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