60 million NFTs can be struck in one trade: StarkWare founder

Zero-knowledge (ZK) rollup technology company StarkWare founder Eli Ben-Sasson says its new recursive validity proofs could theoretically roll up as many as 60 million transactions in one on the Ethereum blockchain.

The co-inventor of zkSTARK made the comments to Cointelegraph at ETH Seoul on Aug. 7 after announcing the start of production of StarkWare’s new recursive validity proof technology during a presentation.

Speaking to Cointelegraph, Ben-Sasson said recursive validity proofs can further scale transaction throughput to a factor of at least ten compared to standard Validium scaling, noting that they already have 600,000 mints of non-replaceable tokens (NFTs) on the market. ImmutableX protocol.

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

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

However, Ben-Sasson also added that the number “could rise to 60 million with more engineering and tweaking”, adding:

“I think it’s also very possible to reduce the latency by another factor of 5 to 10x.”

StarkNet is a permissionless and decentralized layer-2 ZK rollup that uses Validium to scale transactions. Like standard ZK rollups, Validiums work by merging thousands of transactions into a single transaction. StarkNet’s new recursive proof of validity technology can bundle multiple Validium blocks into one proof.

This scaling solution could be a game-changer for Ethereum, as layer-2 scaling solutions like ZK-Rollups and StarkNet’s recursive validity proofs could eliminate much of the network congestion and data availability issues that have caused problems on the Ethereum Mainnet. Currently, Ethereum’s Mainnet can process transactions at a rate of 12-15 transactions per second (TPS).

Speaking at ETH Seoul, Ben-Sasson noted that recursion is great for scaling up because it lowers gas costs, has higher proof capacity, and offers lower latency.

StarkNet has been live on Ethereum Mainnet since June 2020. It currently powers protocols including dYdX, Immutable, DeversiFi, and Celer.

Related: Blockchain’s Scaling Problem Explained

Also speaking at ETH Seoul on Sundays, Ethereum Founder Vitalik Buterin expressed his enthusiasm for ZK rollups and further stated that the scaling solution was superior to Optimistic Rollups:

“In the longer term, ZK-Rollups will ultimately beat Optimistic Rollups because they have these fundamental benefits, such as not needing a seven-day withdrawal period.”

To date, the Ethereum-based scaling solutions with the most locked-down total value (TVL) are Arbitrum, Optimism, dYdX, and Loopring.