Conflux partners with Accseal to accelerate ZK technology for blockchain scalability

Key Takeaways

• Conflux has partnered with Accseal, a company that specializes in building Zero-Knowledge accelerating chips, to develop advanced Zero-Knowledge technologies that can be integrated into the Conflux ecosystem.
• The collaboration aims to leverage Zero-Knowledge solutions to ramp up scalability across various scenarios, primarily to meet the growing demand for storage space in Conflux nodes resulting from the thriving NFT ecosystem on the network.
• Conflux intends to develop its own Layer 2 ecosystems by partnering with Accseal and utilizing their Zero-Knowledge technology, increasing its chances of competing directly with Ethereum.
• Accseal provides Zero-Knowledge Proof (ZKP) hardware acceleration solutions that are significantly better performing and more cost-efficient than existing solutions, making it a valuable partner for Conflux’s blockchain hardware acceleration efforts.

Conflux, a public blockchain network, has entered into a strategic partnership with Accseal, a leading ZK-accelerating chip builder, to explore advanced zero-knowledge technologies and solutions that can be integrated into the Conflux ecosystem.

The collaboration aims to leverage ZK solutions to increase scalability and support the growing number of NFTs and storage requirements on the Conflux network.

Currently, Conflux has a thriving NFT ecosystem in its core-space, with a significant number of users from large enterprises in China, such as Little Red Book. Over 150 enterprises currently mint and sell NFTs on the Conflux network, resulting in a surge in demand for storage space in Conflux nodes. Without new technical optimizations, there is a strong possibility of TB-level storage pressure on Conflux nodes by the end of 2025.

To address this challenge, Conflux plans to explore higher scalability solutions, with Layer 2 technology being one of its priorities.

Conflux is developing its own Layer 2 ecosystems by partnering with Accseal and utilizing their ZK technology, which increases its chances of competing directly with Ethereum in the near future. Additionally, Conflux plans to offer a ZK-enhanced cross-chain bridge solution to secure interoperations between Conflux and its Layer 2 sub-chains.

By providing its own consortium version for enterprises and intending to integrate this version as sub-chains to develop its Layer 2 ecosystem, Conflux aims to enhance its competitiveness with Ethereum in the coming years.

“Conflux has a strategic plan to develop and leverage zero-knowledge proof technologies for both secure cross-chain interoperability and blockchain scalability,” Dr. Ming WU, CTO of Conflux told AlexaBlockchain.

“Accseal is an excellent startup that focuses on zero-knowledge proof acceleration using customized hardware, with whom we have co-patented their early-stage technical solution. This partnership will strengthen and speed up the development of Conflux in this area, and also provide valuable application scenarios for Accseal,” Ming WU added.

Founded in 2021, Accseal is currently valued at $100 million. The startup specializes in providing hardware acceleration solutions for Zero-Knowledge Proof (ZKP) technology.

Their range of products includes ASIC chips and integrated hardware devices, which are more cost-effective and offer better performance than current solutions available in the market.

Accseal’s ASIC chip is particularly noteworthy, as it has been shown to have 80 times lower costs than existing GPU solutions and 515 times lower costs than FPGA solutions. Additionally, the chip is programmable and configurable, which means it can be tailored to suit various parameters and different elliptic curves for ZKP algorithms.

The team behind Accseal comprises experts with strong technical backgrounds from top universities such as Stanford and Tsinghua, and the company is dedicated to driving technical progress in blockchain hardware acceleration.

Conflux anticipates that over the next few years, the number of NFTs on Conflux and the corresponding storage requirements will continue to grow exponentially. With the new technical optimizations and the partnership with Accseal, Conflux is well-positioned to support the growth of NFTs and meet the storage requirements on the Conflux network.

Read Also: Conflux Network Further Solidifies its Role as Foundational Infrastructure for Web3 and the Metaverse within China

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• Source: https://alexablockchain.com/conflux-partners-with-accseal-to-accelerate-zk-technology/