Ethereum’s zk tech decentralized exchange, dYdX, has broken records in handling 45 transactions a second, ten times more than the base layer.
There were “45 transactions per second on dYdX during the Big Price Change,” Eli Ben-Sasson, the co-founder of Starkware said, adding:
“Fitting this on L1 ethereum would’ve required blocks with ~ 150M gas.”
Ethereum currently has a gas limit of 30 million units. A simple transaction takes about 28,000 gas, while contract transactions take circa 100,000 such units.
A zk transaction on dYdX instead takes just 486 gas, making this a 98% compression of data.
“STARK super-scaling lets StarkWare pack all this on L1 using less than 1% of TODAY’s gas,” Sasson said with the emphasis his.
Starkware just launched Starknet, a zk generalized computing solution that allows dapps to communicate with each other, so you can send Uniswap LP to Balancer.
The alpha version however is currently just for devs, but dapps are already working on launching there.
It will have no fees initially, and thereafter they’re expected to be in cents because 500 gas on the base layer is near zero.
zkSync, a competitor that roughly does the same thing, is also expected to launch in the coming weeks with it currently being refined on testnet.
The rollout of mainstream level scaling has therefore began with the defi space awaiting what would be a big revival.