How the development of zkEVM is impacting the crypto industry.
NEW YORK, NY, April 18, 2024 /24-7PressRelease/ — 2024 could be a revolutionary year for transforming asset management as we know it. Institutions investing in blockchain technology are becoming increasingly common, prompting traditional systems to reconsider and possibly resign.
The development of a zero-knowledge Ethereum Virtual Machine (zkEVM) can enable the tokenization of real-world assets, giving a foundation for the transformation of the global financial system. By unlocking the value of real-world assets, investors and institutions could potentially increase their net worth.
Institutions need higher-level security, infinite scalability, and, of course, liquidity potential. With all of this now possible, mainstream blockchain adoption is imminent. Early adopters like Brian Armstrong and Barry Silbert have played pivotal roles in spreading awareness about these possibilities early on, encouraging institutions to stay ahead of the changing times and find their home in this evolving landscape.
The zkEVM can perform transactions within a zero-proof environment and is well-established in the blockchain infrastructure. Institutional investors who adopt can tap into a proven ecosystem of Ethereum-based blockchains and see in real-time the security guarantees, decentralization, and transactional transparency, thus potentially enhancing their net worth. Moreover, they can see it at a far lower cost and settlement time than ever before.
The idea is to create a chain of chains, aka a seamless experience across the entire ecosystem. This blockchain revolution transcends geographical boundaries, connecting institutions and assets from every conceivable address within a single seamless global financial system. Part of the liquidity advantage is the ability to integrate different applications spanning from gaming, DeFi, and institutional platforms. Each of these requires different levels of permission, privacy, security, and design. The zkEVM idea is to facilitate this by enabling near-instant settlements, allowing for transactions between chains and providing a universal address for all participants in the network.
Blockchain tech offers around-the-clock trading and access to inaccessible assets. With the added capabilities of zkEVMs, the new level of security and integration potential changes everything. As we move forward, the ecosystem’s primary enablers seek to enhance the developer experience with mathematically backed proof of security and safety. This will reduce overall costs and make space for conversations about integrating legacy systems in a way that supports compliance and security requirements, potentially leading traditional systems to reassess and resign their positions in the evolving landscape.
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