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Chinese cryptocurrency VC, A&T Capital, released a detailed document with thorough research on the crypto space in 2022 and the ‘new paradigm’ web3 technologies that will transform the internet in 2023.
The anticipated web3 technology is set to enhance blockchain scalability
The document has the following predictions regarding web3 this year;
- layers of evidence without knowledge2
Zero-knowledge proof is L2 executing offline transactions using math and cryptography. This proves that the calculation was done correctly without disclosing any further information. A&T claims it is more efficient as it can handle 100x more capacity than an optimistic rollup. The ZK L2 is also much cheaper to operate.
Even with high operating speeds, the ZK rollup inherits the security of the Ethereum network according to A&T. Although they are more difficult to program and less production ready, A&T concluded that ZK L2 is a long-term solution for blockchain scaling and for supporting mass adoption.
According to A&T, parallel computing is a solid solution for traditional high-performance computing scenarios. This technology performs parallel calculations on transactions touching non-overlapping contracts. Therefore, A&T claims it performs best when maximizing blockchain computation and will prove critical for blockchain scaling.
The modular design thesis stipulates that maximum efficiency will be achieved in calculating transactions if each unit can perform simple operations. With this, A&T calls it the most popular dissertation that can be used to unleash the potential of blockchain seen on web3.
- Application-specific blockchains
A&T has described application-specific blockchains as “suitable” for solving infrastructure problems caused by the increasing demand for blockchain technology in various industries. They are high performance, high value catch potential, and highly customizable.
Another web3 upgrade will be observed this year
Simplify blockchain interactions
The increasing need for more secure and efficient bridges across blockchains can be solved with zero knowledge. This need is due to inefficiencies in interoperability between current blockchains.
A&T added that blockchain interactions can be simplified through player nodes and decentralized with distributed validator (DVT) technology.
Transparency and decentralization
Many exchanges continue to publish proof of reserve to ensure transparency and inspire user confidence. The company states that this trend is expected to continue in 2023.
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