2021-07-06 16:30:00

Ernst & Young Publishes Ethereum Scaling Solution By CoinQuora

© Reuters. Ernst & Young Publishes Ethereum Scaling Solution

  • Audit giant EY has published a scaling solution on Ethereum’s public domain.
  • The solution a zk-Optimistic Rollup is the firm’s third iteration.
  • Also, the solution could lead to a 90% reduction in gas fees.

Global audit firm Ernst & Young published the third version of its zero-knowledge proof scaling solution. The third iteration, Nightfall 3, is the firm’s latest attempt to promote affordable, safe, and secure blockchain transactions.

The audit giant shared the news via an official press release. According to the PR, Nightfall 3 combines zero-knowledge proofs and optimistic rollups to create zk-Optimistic Rollups. The zk-Optimistic Rollups solution aims to improve transaction efficiency on Ethereum. In fact, Nightfall 3 could lower ETH network gas fees by almost 90% compared to public ERC-20 token transf…

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