A new sidechain has been introduced into the Ethereum payment system to carry out transactions up to 2000 per second

Using the new zkRollup technology, which has a throughput of more than two thousand operations per second and an average commission amount of about $ 0.01, Startup Matter Labs has implemented a beta version of the second level of zkSync based on this technology.
To begin with, using this zkRollup technology, it will be possible to increase the scale of transactions, starting from fifteen to two hundred, which corresponds to the PayPal payment system. Next, Startup plans to increase its processing speed tenfold within a few months. This solution will enable sidechain to rise to the level of the Visa system.
Accordingly, the average commission will decrease from $ 0.2 to $ 0.01. Currently, Ethereum clients pay a monthly commission of over two million dollars.
The companys specialists also mentioned a few more distinctive characteristics of the new zkRollup technology:
    • the amount of the commission is charged in tokens instead of gases, which is now charged by the Ethereum network;
    • free account registration;
    • carrying out transactions of transfers to addresses of the Ethereum network from the sidechain;
    • almost instant confirmation of transactions and their completion in just a few minutes;
    • withdrawal of electronic funds to the Ethereum network in less than fifteen minutes;
    • clear and simple interface that allows you to make transfers to electronic wallets of the Ethereum system.
In their next developments, the companys specialists plan to introduce a new version for working with smart contracts, as well as add privacy and protection functions from oversight.
However, the main thrust of the new zkSync technology is the transfer of ERC20 tokens. Clients will be able to adapt their e-wallets registered in the Ethereum network to the zkSync system so that at the second level, they can be credited to tokens and carry out subsequent operations.
The zkRollup system is something other than a combined scaling method that combines two networks of the first and second level and also information obtained using "zero knowledge proof".
This system can hold several thousand transactions, which accordingly reduces the cost of the transfer process. Unlike other ZEC or Loopring protocols, which require additional trusted installations and integration with other applications, zkSync technology requires only a one-time configuration, with which updates will be carried out while maintaining all security measures.
Also earlier, OmiseGo (OMG Network) launched beta testing called OMG Network V1 in order to expand the capabilities of Ethereum. Customers were assured that the speed of transactions per second would increase thousands of times, and the commission for such transactions would decrease by 66 percent.