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?
Answer:
The method you are referring to is called “Validium.” Validium is a layer 2 scaling solution that utilizes zero-knowledge proofs to process transactions off-chain while ensuring their validity on the Ethereum network. In Validium, a sequencer processes transactions privately off-chain using zero-knowledge proofs and then generates a succinct proof of the validity of those transactions. This proof is then verified on-chain, allowing for scalability and privacy without compromising the security and integrity of the network. Validium is designed to enhance transaction throughput and reduce costs while maintaining the decentralized nature of the blockchain network.