Ethereum has long been a leader in the blockchain space, but recent developments suggest that it may soon be surpassed by other networks. One of the most promising technologies for improving Ethereum’s performance is “Verkle trees,” which could make the network more compatible with zero-knowledge proofs.
Vitalik Buterin, the co-founder of Ethereum, has discussed this technology in detail and believes that it will significantly enhance the network’s performance. The main issue with Ethereum’s current system is the enormous “witness sizes” required to prove transactions, which can be up to 300 MB. This makes it impractical for processes like zero-knowledge proofs, which require a high degree of efficiency and speed.
“Verkle trees,” on the other hand, are specifically designed for use with zero-knowledge proofs. They use a different type of cryptographic technique and are based on a specific kind of mathematical curve that is better suited for this purpose. By implementing Verkle trees, Ethereum could significantly improve its ability to handle zero-knowledge proofs on its Layer 1.
Advancements in this technology by Polygon’s zkEVM Type 1 have already been recognized, as they process proofs quickly with minimal computational power. While there are some concerns about implementing Verkle trees due to potential scalability issues, many members of the Ethereum community believe that it would ultimately lead to faster transactions and lower costs. This increased activity and demand could potentially push the price of Ethereum upward.
Overall, Verkle trees represent an exciting new direction for Ethereum’s development and have the potential to make it even more powerful and versatile than it already is. As such, investors should keep a close eye on this technology and consider incorporating it into their investment strategies if appropriate.
