Ethereum (ETH) has launched a research and analytics platform, Ethproofs.org, for zkEVM protocols.
In an update shared with community members, Ethproofs aims to accelerate Ethereum’s adoption of zero-knowledge succinct non-interactive arguments of knowledge (zk-SNARKs).
Functions of the Ethproofs Platform for Ethereum (ETH)
Notably, the Ethproofs platform will benchmark zkVM performance on Ethereum blocks.
The objective is to move Ethereum toward a future where every block is validated using zk-SNARKs.
Ultimately, the ecosystem hopes to achieve real-time SNARKification to improve security, scalability, and usability across Ethereum.
Ethproofs has been described as the “L2beat of zkVMs.” For context, L2beat is a renowned platform that tracks Layer-2 solutions for Ethereum networks. L2Beat is considered an accountability partner for L2 protocols in the Ethereum network
Similarly, Ethproofs will focus on zero-knowledge virtual machines (zkVMs).
These tools help generate validity proofs for Ethereum computations and help improve scalability and security. So, Ethproofs will measure the proving performance of zkVMs using real Ethereum mainnet blocks.
Visions for 2025 in the zkEVM World
In 2025, the ecosystem aims to establish diverse validity proof for the latest mainnet EVM block.
This will occur at an average of every 12 seconds. Currently, proving is limited to block numbers ending in “00” every 20 minutes. This generally slows down the network, compared to desirable outcomes.
However, there is a plan to scale this such that by the second quarter of 2025, provers will be incentivized to tackle block numbers ending in “0” in a shorter time frame of two minutes.
The ultimate goal is to attain real-time proving of under 12 seconds for every Ethereum block. This aligns with Ethereum’s 12-second block time.
The Ethproof platform is live, and a few zkVM contributors are assisting in showcasing proof generation for Ethereum (ETH).
Currently, single machines are used to generate proofs. However, in the future, multiple-machine setups such as GPU clusters will roll out to greatly reduce proof times.
Will the Anticipated Pectra Upgrade Boost Price?
Meanwhile, the Ethereum Foundation (EF) recently established an alternative account for decentralized finance (DeFi).
Notably, the move is to allow EF to participate in DeFi and grow its treasury. As per the report, the foundation has assigned 50,000 ETH to this wallet with a Kraken-featured test.
This marks a shift from the periodic sales of ETH by the Ethereum Foundation. EF engages in sales in a move that many do not agree with, the latest being 100 ETH.
Investors have come to view these sales with caution as they are capable of causing price decline in the broader market.
ETH price has slipped by 7.73% to $3,076.59 as of this writing. However, this price dip has allowed market participants to accumulate the asset.
The trading volume has soared by 214.57% to $38.02 billion in the last 24 hours.
Market watchers believe this increased interest is in anticipation of the Ethereum Pectra upgrade scheduled for mid-March.
Many in the ecosystem anticipate that the upgrade could increase Ethereum’s market value.
This is because the Pectra upgrade will improve not just the network’s speed but also refine the processing and storage of data. This aims to make Ethereum faster, efficient, and scalable.