To expand WEMIX ecosystem to Ethereum Layer 2 Global researchers including prof. Hyunok Oh in Department of Information Systems, Hanyang University to join To focus on zero-knowledge proof, the new technology hailed as the future of blockchain
SEOUL, South Korea, Dec. 8, 2022 /PRNewswire/ — Wemade plans to found the zero-knowledge proof research center with the world’s top scholars including prof. Hyunok Oh in Department of Information Systems, Hanyang University. The aim is to expand the WEMIX ecosystem into Ethereum Layer 2.
Wemade announced the plan to launch Ethereum Layer 2 solution, which can increase transaction speed and solve the issue of scalability. Ethereum Layer 2 rollup is currently the hottest thing in the blockchain scene. As Ethereum evolves into a modular blockchain, rollups are expected to be the core of the execution level where transactions of Ethereum are processed. Wemade aims to launch Layer 2 solution whose governance token is WEMIX coin for further expansion of WEMIX ecosystem.
The company will start its first step into Layer 2 ecosystem with a hybrid, based on widely-used Optimistic rollup but Zero-knowledge Proof elements also added. The goal is to complete a 100% ZK roolup by the end of 2025, according to its roadmap. The ZK Research Center with the world’s top ZK scholars is part of its big picture.
Zero-knowledge is a method by which ‘the prover’ can prove to ‘the verifier’ that certain information is true without offering any details on the information itself. The transaction speed of ZK proof rollups are significantly faster than that of optimistic rollups, but continuous R&D is needed to tackle its technical huddle. Vitalik Buterin mentioned that “My opinion is that in the long run, ZK-Rollup will eventually beat Optimistic Rollup because they have basic advantages like users don’t need to wait 7 days for a withdrawal,” at ETHSeoul, an event held at Seoul, Korea this August.
One of the pillars of the center will be the scholars including prof. Oh. Zkrypto, founded by Oh, provided Bank of Korea’s CBDC simulation project, and its ZK-based online voting system zkVoting won the Best of Innovation at CES 2023, one of the world’s biggest electronics/IT trade show, which was the first for blockchain application. It also won Cybersecurity & Personal Privacy Innovation.
The research center includes prof. Hyunok Oh, Kookmin University electrical engineering prof. Jihye Kim, Korea University cybersecurity prof. Joonghee Lee, Hanyang University math prof. Jaehong Suh, Seoul Women’s University information protection prof. Sungwook Kim, Spain IMDEA software institute prof. Dario Fiore and more researchers. Zero knowledge proof is a difficult field with less than a thousand researchers worldwide and this research center expects researchers to contribute greatly to the development of the field.
Wemade’s ZK research center will be divided into two stages: developing basic technology for Zero Knowledge Proof and blockchain technology and utilization and basic technology for the industry and academics.
In the first stage, it will focus on zkEVM related GPU technology and zk rollup node operational technology and recursive SNARKs. In the latter stage, it will expand from the first stage to develop zero knowledge proof circuit and technology and zk rollup data availability.
The research center not only focuses on research but also on workshops for Zero Knowledge Proof and regular workshops with experts, online classes and offline meetups.
Wemade believes that Zero Knowledge Proof will become the core technology in the areas of scalability, privacy, interoperability, and proof of storage, and will become the leader of global blockchain technology.