{"id":291313,"date":"2021-07-05T20:10:00","date_gmt":"2021-07-05T17:10:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ey-publishes-ethereum-scaling-solution-to-the-public-domain\/"},"modified":"2021-07-05T20:10:00","modified_gmt":"2021-07-05T17:10:00","slug":"ey-publishes-ethereum-scaling-solution-to-the-public-domain","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ey-publishes-ethereum-scaling-solution-to-the-public-domain\/","title":{"rendered":"# EY publishes Ethereum scaling solution to the public domain"},"content":{"rendered":"

“# EY publishes Ethereum scaling solution to the public domain <\/strong>”
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EY\u2019s attempts to promote secure, private transactions over public blockchains at cheaper costs has culminated in the release of Nightfall 3.<\/p>\n

The company announced<\/a> the news<\/a> via a release on July 1 stating that Nightfall 3 combined ZK proofs with optimistic rollup \u2014 ZK-Optimistic Rollup \u2014 to improve transaction efficiency on Ethereum.<\/p>\n

Indeed, ZK-Rollups are one of the layer-two scaling solutions being developed to achieve scalability for networks like Ethereum via a process of batched transfers \u201crolled\u201d into one transaction.<\/p>\n

EY\u2019s first contribution to ZK proofs was in April 2019 as previously reported by Cointelegraph at the time. In this new iteration, the EY team says Nightfall 3 is a collection of tools for privately managing Ethereum transactions.<\/p>\n

Nightfall 3 reportedly ZK proofs transactions into optimistic rollups, removing the need for all authentication nodes to verify the validity of the transactions.<\/p>\n

Nodes that challenge invalid blocks will receive rewards thus ensuring that only valid transactions are added to the blockchain. According to the EY team, Nightfall 3 constitutes a significant improvement in transaction efficiency and gas fee reduction.<\/p>\n

Detailing the improvements in the ZK-Rollups solution, Paul Brody, global blockchain leader at EY, remarked that the protocol offered the best balance of mathematical efficiency and security for private transactions on the Ethereum network.<\/p>\n

According to the announcement, Nightfall 3\u2019s ZK-Optimistic Rollups solution can deliver almost 90% in gas fee reduction compared to public ERC20 token transfers.<\/p>\n

By publishing Nightfall 3 to the public domain, Brody stated in the announcement that EY was doing its bit to hasten enterprise adoption of the technology<\/a>.<\/p>\n

Related: <\/em><\/strong>Major Auditing Firm Ernst & Young Releases Updates to Two Blockchain-Related Products<\/em><\/strong><\/p>\n

With Ethereum 2.0 is still in the works, layer-two solutions like ZK proofs and Optimistic Rollups continue to be touted as short-term solutions to increase Ethereum\u2019s network throughput.<\/p>\n

ZK proofs are not EY\u2019s only exploratory work on blockchain technology. Indeed, the firm has previously published a blockchain analyzer tool. The auditing giant released a beta version of the smart contract analyzer back in April 2019.<\/p>\n