what is the name of the method where a sequencer processes layer 2 transactions using zero-knowledge proofs to generate and verify proof?
What is the name of the method where a sequencer processes layer 2 transactions using zero-knowledge proofs to generate and verify proof?
Answer:
The method you are referring to is called “Validium.” Validium is a layer 2 scaling solution that uses zero-knowledge rollups to process transactions off-chain in a sequencer. This approach allows for the generation and verification of proofs without revealing sensitive transaction data to the main chain. In Validium, transactions are batched off-chain and submitted to the main chain only when necessary, reducing congestion and gas fees on the main Ethereum chain. This method enables efficient processing of transactions while maintaining a high level of security and privacy through the use of zero-knowledge proofs.