Connect with us

Ethereum

Aztec launches private smart contracts as Ethereum rollup

Published

3 Monaten ago

on



Aztec, a privacy protocol developing on Ethereum, announced on Monday the launch of its second iteration, promising private transactions and smart contracts while being cheaper than standard transfers.

The layer two solution adopted by Aztec relies on zkRollups, similar to Loopring or ZkSync. All these protocols rely on zero-knowledge proofs to help Ethereum, scale but come with different benefits and focused use cases.

Loopring focuses on the decentralized exchange experience, while ZkSync aims to be a generalized layer two protocol that could boost Ethereum’s transaction throughput.

Aztec, in comparison, makes a heavy focus on privacy while still allowing a certain degree of scalability. The team says that the rollup can reach 300 transactions per second while allowing shielded ERC-20 token transactions and private interactions with decentralized finance protocols. Users would be able to trade on Uniswap and other exchanges as part of a pooled contract, similar to how it works in Incognito, a cross-chain privacy protocol.

The stated throughput is a far cry from potential figures on other zkRollup solutions, but it is still well above Ethereum’s maximum theoretical throughput of 40 transactions per second. As Cointelegraph highlighted earlier, privacy always carries a performance cost.

One of the innovations introduced by Aztec is Noir, a private smart contract language. This could let developers send private transactions and use on-chain cryptographic routines while benefiting from privacy. The rollup also features social recovery by default and has several usability benefits like human-readable accounts.

The network is currently live on the Ropsten testnet, though no indications were yet given as to its mainnet release.

Layer two technologies are often seen as the next step in Ethereum evolution, allowing to carry some of the burden off the main network while sharding is still being developed.

Competition is fierce in this segment, with the first solutions like OMG Network’s Plasma having reached production. Smart contracts on layer two, which could help DeFi scale, have still largely eluded developers. Solutions like Optimistic Rollups and some types of zkRollups are poised to solve that problem, but are still relatively far off from a full launch.



Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Deine E-Mail-Adresse wird nicht veröffentlicht. Erforderliche Felder sind mit * markiert.

Ethereum

Crypto enthusiasts could make $122K per year mining Ethereum with this setup

Published

29 Minuten ago

on

Dezember 29, 2020

By



Simon Byrne has taken at-home crypto mining to a whole new level as he looks to capitalize on Ethereum’s (ETH) enormous price potential. 

As first reported by Anthony Garreffa, Byrne has set up an ETH mining rig consisting of 78 GeForce RTX 3080 graphics cards. Although the RTX 3080 is marketed toward high-end PC gamers, crypto miners are using these powerful specs to enhance their capabilities.

With each card using roughly 300W of power, Byrne’s setup uses 23.4KW of energy. And that doesn’t even factor in associated costs like AC. All said, his electricity bill is estimated to run up to around $2,166 per month.

The RTX 3080 launched in September at a price of $699, but supply shortages have caused the per-unit cost to swell to $1,199. At the shortage price, that’s a price tag of $93,522 for Byrne’s setup.

Still, these costs could be offset by the operation’s mining capability. One GeForce RTX 3080 graphic card has a hash rate of around 83MH/s using Ethash, which should generate roughly 0.22236870 ETH per month, according to Garreffa. All 78 cards would therefore generate 17.3 ETH per month, which is equivalent to around $12,352 at today’s prices.

Stripping away the electricity costs, that’s roughly $10,200 per month or $122,000 per year. And that’s not factoring in Ethereum’s price potential during the next bull market.

Ether’s price zipped past $700 over the weekend, the first such move since mid-2018. The return of altseason, as some have predicted, could send ETH’s price even higher over the medium term as investors cycle from Bitcoin to other large-cap cryptocurrencies.