BNB Chain, the tier 1 chain of Binance, <a href="https://www.bnbchain.org/en/blog/bnb-chain-makes-significant-scaling-breakthrough-introducing-zkbnb/" target="_blank" rel="noopener">announced</a> 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.

https://twitter.com/BNBCHAIN/status/1567561514881515520
<h2>Zero-Knowledge Proof Scaling Technology</h2>
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.
<h2>BNB Chain Tier 1 Blockchains</h2>
Vitalik Buterin, the creator of <a href="https://www.cryptoknowmics.com/news/binance-launches-ethereum-staking-with-a-6-apy/" target="_blank" rel="noopener">Ethereum</a>, 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.

Zero-knowledge technology has existed since around 1985 and has been utilized for at least 30 years. Yet, it is still considered a relatively recent technology for cryptocurrencies. Due to its usage for extremely secure proofs and long-term scalability, ZK SNARKs have lately acquired popularity.

BNB Chain Announces Zero-Knowledge Proof Scaling Technology

BNB Chain, the tier 1 chain of Binance, recently announced the launch of a zero-knowledge (ZK) proof scaling technology, zkBNB.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

BNB Chain Announces Zero-Knowledge Proof Scaling Technology

Top Picks