Home Coins Ethereum (ETH) Tether is now planning to add support for ZK-Rollups to reduce pressure...

Tether is now planning to add support for ZK-Rollups to reduce pressure on Ethereum


After integrating with OMG Network, stablecoin issuer Tether is now planning to add support for another Layer-2 scaling solution — ZK-Rollups.

ZK-Rollups is a zero-knowledge proof technique that helps rollup or bundle many transactions into a single transaction, and therefore, helps reduce pressure on Ethereum. 

“The idea behind ZK-Rollups is aggregating multiple operations into one single L1 [Layer1] transaction that ‘compresses’ all the underlying transactions,” Paolo Ardoino, CTO of Tether, told The Block. Multiple operations include the management of ether and ERC-20 token transfers, as well as managing smart contract operations, said Ardoino.

He went on to say that ZK-Rollups is the “most comprehensive” and “most preferred” scaling solution as it helps to have all data on-chain to not to have to rely on a sidechain. 

The news comes two weeks after Tether integrated with OMG Network, another Layer-2 scaling solution that is designed to reduce congestion on Ethereum. Last week, Tether moved 3 million USDT coins to OMG Network from Ethereum.

Tether, the largest stablecoin in the market with over 85% market share, currently works on seven blockchains: Algorand, Ethereum, EOS, Liquid Network, Omni, OMG Network, and Tron. Ethereum by far remains the largest value settler for Tether, as The Block reported recently.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.





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