Ethereum founder Vitalik Buterin, one of the leading names in the cryptocurrency market, talked about projects working with Zero-Knowledge Ethereum Virtual Machine technology in a recent blog post! Noting the importance of ZK projects in Ethereum, the name said that these projects will rise in the near future! Here are the details…
Ethereum founder Vitalik Buterin sheds light on ZK projects and their importance in Ethereum!
Vitalik Buterin, co-founder of Ethereum, addressed the technical challenges related to security and scalability in altcoin projects in a recent blog post. Buterin explained how protocols powered by Zero-Knowledge Ethereum Virtual Machine technology (zkEVM) can help improve layer-1 security in the long run. Buterin’s comments suggest that Zero Knowledge (ZK) projects and native coins may witness an increase in utility in the short term, possibly inducing a bullish sentiment among holders.
In his blog post, popular name Buterin highlighted how Ethereum’s “multi-client philosophy” interacts with ZK EVMs, while discussing the technical challenges and potential solutions associated with creating a multi-client ecosystem.
The Ethereum co-founder believes that ZK-EVMs will be an important part of Ethereum’s layer-1 security and verification process in the future. ZK technology offers developers the chance to prove the authenticity of a transaction or message without providing any additional information. Thus making ZK protocols the key to the Ethereum ecosystem. However, some words in the blog post attract the attention of investors. The Ethereum founder quoted the following in his blog post:
Less discussed but still very important is the upcoming big transition in the way the Ethereum chain is validated, the rise of Ethereum Virtual Machine Technology.
Zero-Knowledge coins are on the rise!
On the other hand, while Zero-Knowledge (ZK) coins were among the projects that the Ethereum founder drew attention to, the rise of these coins throughout the week caused many investors to not take their eyes off these coins. While leading ZK coins such as Polygon (MATIC), ImmutableX (IMX), Loopring (LRC) and Zcash (ZEC) have emerged as the top performing projects recently, the positive image for ZK has also positively influenced other altcoin projects in the ecosystem. affecting. The ZK coins that came to the fore during the week are as follows:
Polygon (MATIC), one of the most popular ZK coin projects of the week, gained 3.4 percent during the week and is trading at $1.12 with a market cap of $10 billion. ImmutableX, which ranks second among ZK coins with its market value, was traded at $ 1.10, increased by 4.3% during the week and has a market value of $ 1 billion. However, Loopring is up 7.4 percent over the week and is trading at $0.37. Its market value is around $469 million.
On the other hand, Buterin’s comments on ZK coins and the opinion of the experts could evoke the narrative and possibly a bullish sentiment among ZK coin holders such as MATIC, IMX, LRC, ZEC and AZERO. However, these coins can quickly rise.
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