BNB Chain Announces Zero-Knowledge Proof Scaling Technology

BNB Chain, the tier 1 chain of Binance, announced the launch of a zero-knowledge (ZK) proof scaling technology, zkBNB. ZK technology is sometimes called the display of data with mathematical justifications, obviating the necessity to explain all the specifics to validate a given piece of data. The mainnet’s initial target is scheduled for before 2023, while the testnet for zkBNB will go live on September 2. We're excited to announce a significant breakthrough for #BNBChain scaling and ZK innovation. Introducing #zkBNB an industry leading zero-knowledge proof based scaling solution providing: 🔸Advanced Scalability🔸Transaction Speed🔸Faster Finality🔸Unmatched Security [1/9]🧵 pic.twitter.com/jdIa3M8OlK — BNB Chain (@BNBCHAIN) September 7, 2022 Zero-Knowledge Proof Scaling Technology According to a statement published by BNB Chain on the subject, the objective of zkBNB is to lower transaction fees and provide scalability at a level never before seen in the market. It is made possible by using components known as ZK SNARKs, which enable more transactions per second. BNB Chain Tier 1 Blockchains Vitalik Buterin, the creator of Ethereum, also noted the zero-knowledge proof technique in an article, which has lately been claimed to address scalability issues seriously. BNB Chain is one of the most widely used Tier 1 blockchains and has locked $5.4 billion in assets. The third chain of most valuable assets locked is the BNB Chain. Z...