- Ethereum could launch its own zkEVM to process trasactions faster.
- The plan aligns with other plans to improve speed like Dencun and Pectra Upgrades.
- A zkEVM could bring roll-up features on Ethereum Layer-1s, reducing its L2 dependency.
- zkEVM or Zero Knowledge Ethereum Virtual Machines is the virtual computer on which Ethereum will process rollup data.
- A Layer-1 zkEVM for Ethereum would assist the current EVM by sharing its workload, essentially by processing transactions by its own, allowing the EVM to prioritize for complex operations.
Table of Contents
Ethereum’s zkEVM Launch
Ethereum developers were rumored to plan for a zkEVM that will take non-critical operations from the current Ethereum Virtual Machine. As a result, Ethereum transactions will be a lot cheaper, faster and more privacy centric.
Boost Network Capability
Since rollups require way less processing than individual ones, they are faster to execute. As a result, the network gains speed. This is how zkEVMs work on Layer-2 chains.
An zkEVM on Ethereum would help it batch transactions for easy execution and make the chain faster than the current 15 TPS.
Lower Fees
A zkEVM will definitely lower the gas fees as it will cost ETH worth a single transaction to process an entire block. Rollups use this method to cut on transaction fees.
As long as the initial and the changed state of the blockchain remain in-line i.e., do not disturb the Merkle Tree, these technologies are safe.
Improve Privacy
Currently, several blockchain intelligence applications are able to snoop on the wallets of public figures and anyone they can tie with their wallet. This is a gross violation of privacy, one of the core principles of decentralized technology.
With zero knowledge, individual transactions would be summarized and only the summary will stay on the blockchain forever.
Ethereum’s Current EVM vs zkEVM
The current EVM working on Ethereum is a full-fledged virtual machine that supports the entire set of operations from validators, defi protocols, smart contracts, dApps, wallets and much more. This EVM validates transactions in individual manner. It needs to reach a full consensus to validate a single transaction and it happens for each one in the block.
However, a zkEVM will store no knowledge of individual transaction. It will simply batch them and process them as a single operation, similar to a rollup. This zkEVM will work alongside the Ethereum Virtual Machine, reserving the latter for only critical transactions like smart contracts, validator communications, wallet creations, etc. Regular transactions will likely be processed by the zkEVM.
Aligns Well With Past Ethereum Upgrades
A layer-1 zkEVM would supercharge Ethereum’s efforts to implement a scalable infrastructure. It will help cut the costs of processing transactions by several folds which aligns perfectly with the efforts put in the Dencun Upgrade and the Pectra Upgrade.
The zkEVM aligns with the Dencun Upgrade in providing a scalable solution with Blobs. The blobs can act as storage space for zkEVM rollups and provide critical support for scaling.
It also aligns with the Pectra Upgrade as zkEVM would allow Ethereum to decentralize further, support priority availability of EVM for Account Abstraction. The Pectra Upgrade also support a zkEVM by EIP 2637 which makes it cheaper to use blobs for zero knowledge proofs.
Frequently Asked Questions
Will Ethereum’s zkEVM replace its current EVM?
No, it will take some load from the current EVM. The zkEVM will be limited to transaction processing while the current EVM will handle core network loads like smart contracts, validator comms, and others.
Will zkEVM Bankrupt Other Layer-2 Networks and Rollups?
No, other blockchains will remain cheaper than Ethereum as long as they are using the Layer-2 architecture.
