Myria's Layer 2 solution

Myria, as a Layer 2 (L2) solution on Ethereum, aims to address the limitations of Ethereum Layer 1 (L1) by improving scalability and reducing transaction costs. Layer 2 solutions are protocols built on existing blockchains, such as Ethereum, that handle off-chain transactions, thereby alleviating the burden on the main chain, significantly increasing transaction throughput, and reducing costs.

The processing capacity of Ethereum L1 is limited, processing about 15-30 transactions per second (TPS). This limitation can cause network congestion during peak demand, resulting in slower transaction times and higher gas fees. For applications that require a large number of transactions, such as blockchain games or NFT markets, these issues pose challenges for developers in developing complex solutions.

Myria's L2 solution addresses these issues through zk-Rollups technology. zk-Rollups is an L2 scaling solution that 'bundles' multiple transactions into one. The bundled transaction is submitted to the Ethereum blockchain as a single transaction, reducing the amount of data that needs to be processed on-chain at once. This not only reduces Gas fees but also increases the number of transactions that can be processed per second.

In-depth Explanation of Zero-Knowledge Proof (ZKP)

Zero-knowledge proof (ZKP) is a cryptographic method that allows one party to prove the authenticity of a statement to another party without revealing any other information. In the context of zk-Rollups, ZKP is used to verify that all transactions in the Rollup are valid without individually processing each transaction on the chain.

Myria uses zk-Rollups and employs zero-knowledge scalable transparent arguments of knowledge (zk-STARKs). Unlike other zero-knowledge proof systems, such as zk-SNARKs, zk-STARKs do not require a trusted setup, i.e., parameters generation and distribution to participants in the creation process of certain cryptographic systems. In addition, zk-STARKs provide post-quantum security, meaning they are able to withstand attacks from quantum computers.

The actual advantages of Myria zk-Rollups

Myria uses zk-Rollups technology to process up to 9,000 transactions per second without any Gas fees. This throughput is crucial for applications that require fast and efficient processing of a large number of transactions, such as NFT markets and blockchain games.

By packaging transactions off-chain and submitting them as a single transaction to Ethereum, MYRIA is able to scale to meet user demand without sacrificing security or decentralization.

Developer Tools and SDK

Myria provides a set of tools to simplify blockchain development. The Myria Core SDK and various APIs provide developers with the ability to create, mint, and manage digital assets on the Myria network. These tools abstract the complexity of blockchain development, allowing developers to build applications without the need to master smart contract technology.

Focus

• Myria adopts a Layer 2 solution based on zk-STARKs to achieve scalability and zero gas fees.
• The platform supports processing up to 9,000 transactions per second (TPS) and has security comparable to Ethereum.
• Myria's developer tools, including Core SDK, simplify the process of blockchain integration.
• Myria Market and Wallet provide support for the secure and convenient management of digital assets.
• Myria's architecture ensures decentralization, security, and a user-friendly experience for developers and users.