Sunday, May 19, 2024
HomeDeFiCardano to have its own ZK-rollups

Cardano to have its own ZK-rollups

Cardano’s (ADA) DeFi ecosystem will have its own scalability solution, which will transfer calculations off-chain in order to relieve the load on Cardano’s mainnet. Orbis, an early-stage Cardano scaling solution, has posted a fundraising request on Project Catalyst’s Ideascale platform. According to the whitepaper, the Orbis solution has the potential to greatly improve Cardano’s performance and developer experience. Transactions on Orbis, like those on other zk-based solutions, will take place off-chain and subsequently be broadcast to Cardano’s mainnet through a resource-efficient mechanism.

The protocol is designed to use zkSNARKs (Succinct, Non-interactive, ARgument of Information), a zero-knowledge proof that does not take two-way interaction between on-chain and off-chain units. The company is asking $1 million in funds to develop and deploy Orbis on Cardano, according to the release (ADA).

Ryan Matovu, the founder of Ardana, Cardano’s first stablecoin and DeFi hub, leads the protocol team. Ardana made news with its decentralised Cardano-Near bridge. Cardano’s Orbis will utilise Halo 2, a technology created and proven by the popular privacy-focused blockchain ZCash (ZEC).

The Orbis ecosystem will be very scalable, with users able to build Layer 3 applications on top of it. As previously stated, Cardano’s community incubator, Project Catalyst, is the greatest support programme for Cardano-focused early-stage companies.


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