ETH_TOTALTXFEESUSD By CryptoCheck- – Technical Analysis – 2023-01-20 00:22:24

Hello traders, investors and chart speculators📈📉

Additionally, there are some exciting developments in the cryptocurrency space rising price action on the chart. If you missed any of them, these are for you!

Thanks to its distributed structure, blockchains tend to be slow. If a single transaction has to be verified across thousands of Ethereum nodes, this also makes network usage expensive. Layer two systems are a possible answer to this problem, with aggregations being the most common scaling method. Zero-knowledge (ZK) pooling processes use the minimum amount of data required to verify transactions by dump Ethereum from overloading the network. This makes Ethereum Both are faster and cheaper. Well, wait — what is a ZK?

In cryptography, ZK protocol or zero-proof protocol means terminal (the proof) You can prove it to another party (checker) That a particular statement is true without making any other statement. To give a practical example; Think about how you will need to prove your citizenship. If you say “I am Bob from Canada”, you will have to prove it with a legal document such as passport, ID card, etc. The problem with this method so far is privacy. This information is often shared with third parties without your consent. Identity theft also thrives in this environment.

So how can you prove the truth of what you say without revealing any legal information or documents? Let’s take a look at this example from Wikipedia:

Imagine your friend green red Colorblind (while you are not) and you have two balls: one red and one green, but they are identical. To your friend, they seem to be a perfect match and you doubt you can actually tell them apart. You want to prove to them that they are in fact colored differently, but nothing else; In particular, you don’t want to expose red and green.
Here is the proof system. You give the two balls to your friend and he puts them behind his back. Then they take one of the balls, pull it out behind their backs, and show it. They then place it behind their back again and then choose to reveal only one of the two balls, choosing one of the two at random with equal probability. They will ask you: “Did you change the ball?” Then this entire procedure is repeated as often as necessary.
Of course, by looking at their colors, you can tell if they have changed them or not. On the other hand, if they are the same color and therefore indistinguishable, there is no way you can guess correctly with a probability above 50%. Since the probability of you randomly succeeding in selecting every key/non-switch is 50%, your probability of randomly succeeding in all key/non-switching is close to zero (“mind”). If you and your friend repeat this “proof” several times (say 20 times), then your friend should be satisfied (“complete”) that the balls are indeed of different colors.
The clue above is not knowing because your friend never knows which ball is green and which ball is red; In fact, they don’t have any knowledge of how to distinguish between balls.

Now that you understand ZK, let’s take a look at how this will affect the blockchain and cryptocurrency, Ethereum Especially:

Gas fees have been a huge issue for ETH. But there are a number of ways to improve performance. Cumulative is the most common sizing technique. So wait wait wait…. What are Rollup or ZK-Rollups? Backlogs are smart contracts that reduce the computation and storage requirements for validating a block of transactions. As mentioned earlier, they do this by converting hundreds of transactions into a single transaction. A zero-knowledge proof is one way to achieve this.
When the network is overloaded with information, the fees increase. This is because a decentralized public blockchain has limited block space for transactions. Thus, when network traffic is higher, the demand for block space increases, causing validators to charge more for each validated transaction.
Cumulatives are divided into two types: optimism and non-knowledge (ZK). Both types do the – merging reduce the first layer network ( Ethereum ) workload by collecting or rolling hundreds of incoming transactions as a single transaction. This single aggregate transaction is then verified and added again Ethereum , as another block of data in its general ledger. Because of this constant unloading of transactions from Ethereum , the first layer network remains unlimited. And when Ethereum Not crowded, much cheaper to use as ETH gas fees drop dramatically. After all, every computer network requires some bandwidth/computational resources to be consumed. In the case of decentralized blockchain networks, this cost is borne by the users themselves. This is why Layer 2 networks are so important. Integrations in particular have the dual effect of providing a fast and affordable user experience Ethereum environmental system.

Now that you have a better understanding of Blockchain verification and gas fees, we can move it over to SPACE ✨🚀

I live in a country where blackouts (or load shedding as they call it) are part of everyday life. We usually test 3 sets of loads a day, each lasting 2-4 hours at a time. One of the many annoying consequences of this is that the signal drops while the payload is being loaded. This is because the signal towers have backup batteries for when the power goes out but – because there is a load disconnect for several months the batteries are not allowed to fully charge. You might be wondering why I’m telling you this (and I’ll give you a hint, it’s not for sympathy). One word – signal. You’d be surprised how many things are affected by access to electricity and signal. When the signal drops, it not only drops your phone, but also transactions. Think Card devices, financial services, banking, etc.

Now again, sir Elon Musk You’ve been working with Starlink, something you’ve probably heard of, to solve this problem. Starlink is a satellite internet constellation operated by SpaceX, providing satellite coverage to 45 countries. Aiming for global mobile service after 2023. SpaceX began launching Starlink satellites in 2019. The aim of using signal satellites would essentially render signal towers obsolete, with a direct link from the satellite to the receiving point Like the phone and eventually the card machine etc. This is where the exciting news now gets topical. ZK – tested on satellites.

Recently, in a collaboration between crypto-satellite developer Cryptosat and global hackathon organizer DoraHacks, the first successful test launch of the ZK Proof System (Zero-Knowledge) into space occurred recently aboard the International Space Station (ISS). iss ). According to DoraHacks and Cryptosat, the experiment was conducted on board iss Demonstrate the ability of a satellite computing environment to successfully perform part of the trust setup required to use the secure ZK protocol. According to Cryptosat, which seeks to launch a constellation of cubes into orbit and expand its fleet of satellites, the success of the proof ZK experiment is a critical component of demonstrating the effectiveness of space-bound computing environments. The procedure involved sending preloaded open source software to iss Through a secure link to generate a chain file for ZK evidence-based voting software. Cryptosat has already launched two cup-sized satellites, Crypto1 and Crypto2, and the latter is currently being tested.

💭 Stop thinking…
We’re not there yet. The two legs that go along with communication are the signal…and the device. One without the other is worthless. Many people around the world are still unable to access the devices, and even if they did, what if you lost your device? How vulnerable would you be if your device was stolen? These are questions for another day maybe….

Thanks for reading this much! Interested in technical analysis and charting of Ethereum? Check out this idea:

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ETH_TOTALTXFEESUSD by CryptoCheck-
– technical analysis – 2023-01-20 00:22:24 – coinphone [SV]

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