Today we will talk with you about new technologies that are found in the blockchain community. Namely, solutions to the problems caused by the rapid growth of decentralized financial projects in the world of cryptocurrencies built on the Ethereum blockchain. Today we will talk about the technology that the ZkTube project offers us. This is a comprehensive solution in the field of blockchain scaling due to the second layer. The project already has several technological solutions that are worth analyzing in this article.

To start. Let's see what the problem is with the ethereum blockchain. The problem is that the received one is not designed for several transactions that were carried out in 2021 in this network. Since decentralized projects have gained immense popularity among investors, Elon Musk's advertising campaigns have also caused a rapid demand for projects. The blockchain simply did not cope with the tasks, which increased the cost of the transaction and slowed down transactions on the network. It also reduces the overall security of the network. By increasing the possibility of DDoS attacks on an overloaded network.

The solution to these problems is to create projects of the second layer. Which allow to reduce the load on the main blockchain, reduce the cost of transactions, and increase the security of projects. One such project is zkTube. The project allows you to easily scale the first and second layers, achieve high security, and provide users with high transaction speed. The zkTube project team assures us that the project is capable of producing more than 3000 transactions per second.

The team has already submitted a prototype of their solution in the form of a layer 2 cryptocurrency wallet for testing. Their technology product is called PayTube. This fully decentralized wallet uses Zk-Rolls up technology and creates a second layer within the Ethereum network. Allows you to easily scale the network, and conduct ERC20 / ERC721 transactions up to 200 times faster and cheaper. As can be noted, this product will take into account the possibilities of exchange operations, connection to liquidity floors, as well as interaction with NFT. This is more profitable and secure storage for your Crypto assets today.

The project team is proud to announce that this is the only wallet on the market that has been created using this methodology today. Namely, using ZK-Rollup technologies. This greatly simplifies the life of customers, increases protection and reduces the cost of transactions.

ZkTube

This is a comprehensive solution for the creation of the second Ethereum blockchain. This is a unique protocol, as well as a cryptocurrency wallet based on this protocol, which allows achieving the most beneficial performance for users of the ethereum network. The project today identifies three main tasks. This is customer safety. This is a significant reduction in the cost of transactions. This is an increase in the speed of the drives within the network. For each of these points, the team already has a certain technological solution. It's unique computing power to achieve the assigned tasks. An Experimental wallet has already been created that uses the unique technologies of the project. There is also an Explorer that allows you to study transactions carried out inside ZkTube.

Conclusion

The project team is actively promoting it in the cryptocurrency market. In social networks, we can observe regular reports on the development of this project. Also, the prototypes of this project are already interacting with the network. In Explorer, we can track all the necessary information on transactions in the second layer. The project also actively maintains communication with the community and participates in various workshops on the development of the 2nd layer and the promotion of the second layer. The products are interesting and worth our attention for further study.