Will Hyperchains be the next big thing?

It often times can feel like the crypto world is stagnate in fact it's pretty common to feel that way for a bear market. It's only once all those developing techs start to be released and one captures the attention of the world and money that we blow up into a new bull run.

As of right now Ethereum is gearing up for some big updates to its blockchain which will or should finally fix the issues of scalability. However those updates are most likely a good 1-3 years away before being fully implemented. It's clear though that Ethereum is more rapidly building and advancing.

zkSync Zero-Knowlege Proof

I went over this pretty heavily in a pervious article of mine some months ago which you can read here zkSync ZK rollup Is Now A Reality so if you want details on that and how it all works etc I suggest reading up on that article first.

These new hyperchains are going to be ZK-powered custom blockchains which operate as a layer on top of the existing layer-2 protocol. The biggest thing with this is that the hyperchain is only going to work with proven systems for the bridges it creates and not bother with insecure token bridges. It was stated that these insecure bridges are what cause a vast majority of hacks which should shore up this new solution.

This new hyperchain that runs on top of many layer 2 solutions would allow for near instant moves and swaps of those cryptos.

The Future

Now this might not sound like a big deal up front but what it does is actully lays the groundwork for some of the biggest advancements ever for the Ethereum blockchain.

What it allows for are for Dapps to now be built on the Layer 2 of Ethereum but allow for things like Social media applications, games, exchanges and other cases to now work on the Ethereum blockchain with a new very fast and in theory very secure instant transaction system.

Another key benefit of this new system is there should be near limitless solutions in terms of what it can support. The applications and layer 2 blockchains would be running themselves as they see fit. The zkstack would allow of instant very low fee or no fee options for swapping tokens. What's pretty funny about all of this is the Hive blockchain already has ALL of this it just need some developers.

The chain will also only publish a single transaction that has all of the details within it across ALL chains using it to the Ethereum blockchain once in a while creating a robust system that if failed would only have a gap of data missing from the transactions on to Ethereum. It's unclear so far how often that would happen.

Overall we are seeing a rather aggressive and new push towards building out blockchains bigger, better and more decentralized. My hopes are the scares of the SEC and Governments attacking non decentralized solutions doesn't get lost now and there's still a heavy push to build these solutions.

It's also unclear if this system will even matter that much once Ethereum starts to implement it's on scaling solutions on the layer 1 chain in the next few years which could make many layer two solutions obsolete.

Posted Using LeoFinance Alpha