Can the world run solely on Ethereum? Even if the network is capable of it, the real question is whether we need it or not. (Via CointelegraphZN)
There’s a version of the future that’s tantalizingly possible in which Ethereum becomes the base layer for pretty much everything.
At its most basic, the process employs high-level mathematics to generate a tiny validity proof that verifies that a whole bunch of other transactions has been carried out correctly. Instead of putting all the transactions on the slow and creaky blockchain, you just record one proof in a transaction.
Tens of thousands of transactions being compressed into a single transaction on Ethereum is impressive enough, but the magic doesn’t stop there. “It is a proof of proving. And so, you can further compound the savings because each time you generate a proof, you’ve compressed the process of verifying computation. So, basically, you can compress again and again.”Our interview is held the same week that StarkWare puts recursive proofs into production.
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