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In a strategic move that aligns with the upcoming Ethereum Cancun upgrade, QuarkChain has announced its transition to Ethereum Layer 2. This significant shift leverages cutting-edge technologies like zk Fraud Proof and Parallel EVM to revolutionize transaction processing time.
QuarkChain Capitalizes On Ethereum’s Cancun Upgrade
The Ethereum Cancun upgrade is a milestone in the Ethereum ecosystem, promising enhanced functionalities and a more robust framework. Seizing this opportunity, QuarkChain’s shift to Ethereum Layer 2 is a strategic decision amid rising crypto prices. By integrating with Ethereum’s substantial market presence, QuarkChain aims to incorporate its unique sharding technology seamlessly within Ethereum’s growth trajectory.
🚀 QuarkChain is gearing up for the Ethereum Cancun upgrade with a strategic move to Ethereum Layer 2! 💡 Leveraging zk Fraud Proof and Parallel EVM, we're reducing finality time and enhancing transaction processing. Exciting plans ahead, so stay tuned! https://t.co/qhcgIO0yGG pic.twitter.com/Vi6veCz5IJ
— QuarkChain (@Quark_Chain) December 28, 2023
QuarkChain’s transition is showcased by its core technologies, notably the zk Fraud Proof and Parallel EVM. The zk Fraud Proof technology is set to dramatically reduce the finality time of Optimistic rollup, dropping from a week to just an hour. This innovative approach signifies a leap in efficiency and security, marking a significant advance in transaction processing.
Parallel EVM, another milestone of QuarkChain’s Layer 2 strategy, enables the simultaneous processing of multiple transactions. This capability not only accelerates transaction throughput but also alleviates network congestion and minimizes transaction fees. It’s a game-changer, enhancing the user experience by ensuring quick transaction verification and finalization, thus reducing wait times and improving network security.
QuarkChain Attracts Users With Futuristic Approach
QuarkChain’s move to Layer 2 is backed by years of research and technical expertise. The team’s deep understanding to leverage Parallel EVM’s potential mark a forward-thinking approach in blockchain.
The “Cancun-Deneb” upgrade, also known as the Ethereum Cancun upgrade, represents Ethereum’s ongoing efforts to enhance its platform, building upon the foundations laid by the previous Shanghai upgrade.
This upgrade incorporates five key Ethereum Improvement Proposals (EIPs): EIP-4844, EIP-1153, EIP-4788, and EIP-6780. The collective integration of these EIPs is set to deliver a range of benefits, including better scalability, more efficient data storage and accessibility, and lower transaction costs.
Focusing primarily on refining the execution layer, or Layer 1, the Cancun upgrade sets the stage for the eventual full implementation of data sharding in Q1 of 2024. This step is crucial for Ethereum’s strategic progression and long-term growth plans.
The completion of Ethereum’s Cancun upgrade will not only benefit QuarkChain’s L2 network through enhanced functionalities but will also enable QuarkChain to tap into the advancements of the Ethereum ecosystem.