What is a Layer 2?
A Layer 2 (L2) is a second layer of technology built on top of a Layer 1 (L1) blockchain, such as Ethereum, to help increase computational throughput and drive greater efficiencies. L2s, like StarkEx, can handle intensive computational tasks off-chain, easing pressure on the main chain.
Layer 2s help with speed and scalability without sacrificing security. This is achieved by bundling thousands of transactions off of the main chain. These transactions then get processed as blocks ready to be handled by the L1 (Ethereum) in a single transaction.
Performing multiple transactions at once takes a considerable amount of computational pressure off Ethereum’s main chain and helps improve throughput while dramatically driving down user costs. In Myria's case, we offer 0 fees for NFT trading for users.
Myria's ZK-Rollup Scaling Solution and its Design
At its core, Myria combines the cutting edge zk-rollup scaling solution by StarkWare with NFT-specific proof logic to create one of the most progressive NFT trading protocols yet. By batching hundreds of transactions into a single zero-knowledge proof known as zk-STARK (zero-knowledge scalable transparent arguments of knowledge), it enforce the integrity and privacy of computations on blockchains, using novel cryptographic proofs and modern algebra. ZK-STARKs allow blockchains to move computations to a single off-chain STARK prover and then verify the integrity of those computations using an on-chain STARK Verifier.