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Functions of the Ethproofs Platform for Ethereum (ETH)
Ethproofs is designed to benchmark the performance of zkEVMs on Ethereum blocks. The platform’s goal is to ensure that Ethereum transitions towards a future where every block is validated using zk-SNARKs, offering significant improvements in scalability and security. The long-term vision is to achieve real-time SNARKification for Ethereum, elevating the platform’s overall usability.
Ethproofs has been referred to as the “L2beat of zkVMs”, drawing parallels with L2beat, a renowned platform that tracks Layer-2 solutions for Ethereum. While L2beat focuses on Layer-2 solutions, Ethproofs will specialize in zero-knowledge virtual machines (zkVMs), helping to generate validity proofs for Ethereum computations.
Key Functions of Ethproofs
- Benchmark zkVM performance on Ethereum blocks.
- Measure proving performance using real Ethereum mainnet blocks.
- Support Ethereum’s transition to zk-SNARK-based validation.
Visions for 2025 in the zkEVM World
Ethereum’s vision for 2025 revolves around increasing the frequency and speed of proving for Ethereum blocks. Currently, proving is limited to blocks with numbers ending in “00,” and the process takes approximately 20 minutes. However, the goal is to reduce this proving time to under 12 seconds for every Ethereum block, aligning with Ethereum’s 12-second block time.
By the second quarter of 2025, Ethereum aims to incentivize provers to work on blocks ending in “0” within a significantly shorter time frame of just two minutes. This would mark a monumental leap in Ethereum’s scalability, security, and overall performance.
Key Milestones for zkEVM in 2025
- Establish diverse validity proof for the latest mainnet EVM block every 12 seconds.
- Incentivize provers to reduce block validation time to just two minutes.
- Transition to real-time proving under 12 seconds for every Ethereum block.
Currently, Ethereum utilizes single machines to generate proofs. However, future updates will introduce GPU clusters and multi-machine setups to further reduce proof times and enhance overall performance.
Will the Anticipated Pectra Upgrade Boost ETH Price?
The Ethereum Foundation (EF) is making strategic moves to grow its treasury and participate more actively in decentralized finance (DeFi). As part of these efforts, the EF recently allocated 50,000 ETH to a new DeFi wallet with a Kraken-featured test.
This move signals a shift from the foundation’s previous periodic ETH sales, which have historically raised concerns among investors due to their potential impact on ETH’s price. As of now, ETH has dropped by 7.73% to $3,076.59, but this price dip has also sparked increased accumulation among market participants.
With Ethereum’s trading volume up by 214.57%, reaching $38.02 billion in the last 24 hours, market watchers are optimistic about the upcoming Ethereum Pectra upgrade, scheduled for mid-March. The upgrade is expected to refine Ethereum’s processing, storage, and overall network speed, positioning Ethereum for a more efficient, scalable future.
Impact of the Pectra Upgrade
- Enhanced network speed and processing capabilities.
- Improved data storage efficiency.
- Potential boost to Ethereum’s market value and investor confidence.
Ethereum’s community and analysts believe that the Pectra upgrade will further solidify Ethereum’s position as a leading blockchain platform. If successful, this upgrade could result in increased demand for ETH and higher market value in the months following its implementation.