OKX Ventures announces strategic investment in Scroll

    • OKX Ventures invests in Ethereum L2 Scroll
    • OKX says the strategic investment is supposed to assist Ethereum scalability.
    • Scroll is predicted to go dwell 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 printed on Tuesday mentioned the investment is focused at serving to with Ethereum scalability through 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 crew faucet into zero data proofs and zkRollup expertise to boost transaction velocity and decrease person prices.

    Scroll helps obtain the excessive throughput through 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 higher utilization and interplay with the mainnet with out sacrificing the underlying safety mechanisms. Once it goes dwell on Ethereum, Scroll could possibly be utilized throughout token transfers and specialised purposes. Implementation of general-purpose good contracts may even assist with general adoption of the Ethereum purposes.

    Unlike some layer-2 options, Scroll is not going to require modifications 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 predicted to go dwell on the Ethereum mainnet in 4 months’ time and its Alpha launch is now obtainable to all.

    Scroll has seen over 672,700 distinctive pockets addresses and recorded greater than 2,916,472 transactions.

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