Developing on Ethereum? Why You Should Use ZkEVM
As an Ethereum developer, you’re likely familiar with the Ethereum Virtual Machine (EVM) and writing smart contracts. However, the EVM has some downsides like high gas fees, scalability issues. Fortunately, there are second-layer solutions that can help address these problems. One promising solution is ZkEVM – a ZK-rollup that executes smart contracts using zero-knowledge proofs.
ZkEVM allows you to deploy your smart contracts on a layer 2 solution while still being secured by the Ethereum mainnet. This means you get the best of both worlds – the security of Ethereum combined with the scalability and lower fees of a layer 2. In this article, we’ll explore the key benefits of developing on ZkEVM and how you can get started building your decentralized applications on this innovative platform.
What Is ZkEVM and How Does It Benefit Ethereum Developers?
ZkEVM is a zero-knowledge version of the Ethereum Virtual Machine (EVM) that allows smart contract execution to be proven w/o re-execution. This zero-knowledge proof technology enables computations to be verified without revealing the inputs or outputs. For Ethereum developers, ZkEVM unlocks the potential for building dApps with small fees and quick transactions.
Some of the main benefits of ZkEVM for developers are:
– Low gas fees: ZkEVM reduces gas costs for transactions and smart contract execution. This can make dApps more affordable and practical for mainstream use.
– Compatibility: ZkEVM aims to be fully compatible with the EVM, so developers can migrate existing smart contracts to ZkEVM with minimal or no changes. This can easily accelerate the development of dApps.
– Scalability: ZkEVM has the potential to scale Ethereum through faster transactions and smart contract execution. This can open up new scalability opportunities for developers building on Ethereum.
By providing lower or no fees, compatibility, and scalability benefits, ZkEVM gives Ethereum developers a powerful set of tools for crafting the next generation of decentralized applications. The future is bright for developers ready to leverage zero-knowledge proofs and build on the bleeding edge.
Faster Transaction Speeds With ZkEVM Rollups
Faster Transactions with Zero-Knowledge Proofs
ZkEVM rollups bundle hundreds of transactions together off-chain and generate a cryptographic proof, known as a zero-knowledge proof, that proves the validity of the entire transaction bundle. This single proof is posted to the Ethereum blockchain, reducing congestion.
Since the proof is generated off-chain, transaction speeds are no longer limited by Ethereum’s block time. ZkEVM rollups can currently process orders of magnitude more transactions per second than Ethereum.
By batching many transactions into a single proof, ZkEVM rollups reduce the amount of data posted to the Ethereum blockchain. This decreases the gas fees required for your dApp’s users and allows you to lower costs. Users will appreciate paying cents instead of dollars per transaction.
For dApp developers, ZkEVM rollups are easy to integrate since they are EVM-compatible. You can migrate your dApp to a rollup network with minimal code changes. ZkEVM rollups provide the scaling solution Ethereum needs to make dApps mainstream. By using a rollup, you’ll be able to offer your users faster speeds, lower fees, and an all-around better experience.
Enhanced Security With ZkEVM
ZkEVM also leverages zk proofs to improve the security of the Ethereum blockchain.
Zk proofs act as cryptographic proofs that verify the validity of transactions without needing to execute the transactions themselves. ZkEVM essentially acts as a shield around the Ethereum blockchain, filtering out any invalid transactions.
For developers building on Ethereum, ZkEVM offers some appealing benefits over the optimism EVM rollup. By enhancing security, ZkEVM creates a more robust development environment. dApps and smart contracts deployed on ZkEVM can provide users with stronger security guarantees and protection from malicious actors. Overall, ZkEVM makes Ethereum a safer platform for building decentralized applications.
Easier and Cheaper Smart Contract Deployment on ZkEVM
When developing smart contracts on Ethereum, deploying to the mainnet can be an arduous and expensive process. As a developer, you have to ensure your contracts are thoroughly tested to avoid any issues once deployed. You also have to pay high gas fees to deploy on the Ethereum mainnet.
ZkEVM streamlines and improves the process of deploying smart contracts. By deploying your contracts on the ZkEVM testnet, you can thoroughly test them at a minimal cost. Presto provides the perfect solution for this, enabling you to deploy your private testnet without delay. The ZkEVM testnet mimics the environment of the Ethereum mainnet, so you can be confident your contracts will work as intended once deployed to the mainnet.
When you are ready to deploy to the mainnet, ZkEVM allows you to deploy at a fraction of the cost of deploying directly on Ethereum. ZkEVM bundles multiple contract deployments into a single transaction, significantly reducing fees. Your contracts are first deployed on ZkEVM, and then a proof is generated and submitted to Ethereum to verify the deployment. This entire process can cost 90-95% less than deploying directly on Ethereum.
Developing on ZkEVM also allows you to write contracts in Solidity or Vyper, so you don’t have to learn a new language. ZkEVM is fully compatible with the Ethereum Virtual Machine, so you can easily migrate your existing contracts to ZkEVM or develop new ones.
In summary, ZkEVM makes contract deployment much more accessible for developers. You can thoroughly test your contracts at almost no cost before mainnet deployment. Once ready for mainnet, you can deploy at a fraction of the usual cost on Ethereum. By reducing complexity and cost, ZkEVM helps accelerate smart contract development on Ethereum.
Top Use Cases for Building on ZkEVM
As a developer specializing in Ethereum, you now have the ability to utilize the Zero-Knowledge Ethereum Virtual Machine (ZkEVM) to enhance the construction of decentralized applications (dApps) and smart contracts. ZkEVM empowers you to execute smart contracts privately, ensuring the security of data. Here are the top five scenarios where ZkEVM can be effectively employed:
1. Supply Chain: ZkEVM provides a solution for supply chain management, enabling the creation of systems that privately track goods and transactions while maintaining an unchangeable record on the Ethereum blockchain. Sensitive details about suppliers, shipments, and customers can be kept confidential.
2. Fintech industry: ZkEVM meets the demand for secure transactions, enabling the creation of decentralized financial applications that can handle financial data with security and complete transparency.
3. Gaming industry: ZkEVM can enhance the security of in-game transactions, digital assets, and player information. By leveraging ZkEVM, developers can create decentralized gaming platforms that prevent cheating and protect the value of digital assets with minimum costs.
In conclusion, if you are developing a dapp or smart contract that involves private data or transactions, it is essential to leverage ZkEVM. This technology opens up numerous new possibilities for Ethereum that were previously out of reach, while maintaining the principles of security and decentralization. ZkEVM truly revolutionizes the Ethereum development landscape.
ZkEVM is a promising solution for Ethereum developers that provides the benefits of a layer 2 solution while maintaining security of the Ethereum mainnet. It executes smart contracts privately using zero-knowledge proofs, providing benefits like lower gas fees, compatibility with the EVM, and scalability. These benefits enable developers to build decentralized applications with smart contract deployment easier and cheaper by bundling multiple deployments and reducing fees by up to 95%. Key use cases for ZkEVM include financial applications, healthcare dApps, identity management, voting systems, and supply chain management – anywhere data security and transactions are important.
If you’re interested in entering the forefront of Ethereum development, Presto offers the ideal solution. Through their instantaneous private Zk-rollups and auto-provisioning zk technologies, you can effortlessly expand the scalability of your dapp, reduce gas fees, and enhance the user experience, all while maintaining decentralization and security. By deploying private ZK rollups within minutes, you can explore the potential of layer 2 technology and unlock a multitude of opportunities on the Ethereum platform. Therefore, do not hesitate to leverage the services provided by Presto in order to elevate your dapp to new heights!