StarkWare Founder 60 Million NFTs can be Minted in a Single Transaction

Eli Ben-Sasson, founder of StarkWare, says that repeated proofs of validity could theoretically aggregate up to 60 million transactions on the Ethereum blockchain. ZkSTARK announced the start of production of StarkWare’s repeated proof-of-valid technology. Then, ZkSTARK made the remarks to Cointelegraph during ETH Seoul on August 7. Ben-Sasson noted that repeated proof of validity can increase throughput compared to standard Validium scaling, and they have already collected 600,000 mints free (NFT). ImmutableX protocol.

“I would say the minimum I would say is 10x […] We’ve been putting 600,000 mints of NFTs, which resulted in a 10 gas per mint. We can now at the very least take 10 of such proofs and generate a recursive proof of all 10 of these things,” he explained.

“We could go to six million at the very least, and this is in the near term. That’s something that would be very easy to do. ”

However, Ben-Sasson added that the number “could go up to 60 million with more engineering and fine-tuning.” 

“I think also reducing the latency by another factor that’s 5 to 10x is also very doable.”

What is Starknet

StarkNet is a permissionless and decentralized layer-2 ZK aggregation. StarkNet uses Validium to scale transactions. Validiums work by aggregating thousands of transactions into a single transaction. StarkNet’s repeated proof-of-valid technology can aggregate several Validium blocks into a single proof.

Layer 2 scaling solutions can offload many of the network congestion and data availability issues that cause issues on the Ethereum Mainnet. Currently, Ethereum’s MainNet can process transactions at a rate of 12-15 transactions per second (TPS).

During his presentation at ETH Seoul, Ben-Sasson noted that recursion is great for scaling, as it reduces costs, has high confirmation capacity, and offers low latency.

RELATED : Experts Say Immutable Tokens do not Live on The Blockchain

Starknet just turned on recursion for their production SHARP systems. Recursive proving can drastically decrease the amortized cost per transaction on L1, and introduces a secure STARK-based model for layer 3. It’s exciting to witness the profound scaling solutions rolling out.

StarkNet has been live on Ethereum Mainnet since June 2020.

Also speaking at ETH Seoul on Sunday, Ethereum Founder Vitalik Buterin expressed his enthusiasm for ZK-aggregations and also stated that the scaling solution is superior to Optimistic Aggregations:

“In the longer term, ZK-Rollups are eventually going to beat Optimistic Rollups because they have these fundamental advantages, like not needing to have a seven-day withdrawal period.”

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