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Binance Ends Support for BUSD Stablecoin: What It Means for Users and the Future of Stablecoins

Binance, one of the largest cryptocurrency exchanges in the world, has made the decision to end support for its Binance USD (BUSD) stablecoin. This move comes after Paxos, the company responsible for minting new BUSD coins, announced that it would be halting its operations. The transition is set to take place on December 15th, and it will have significant implications for users of the BUSD stablecoin. Automatic Conversion to First Digital USD Starting on December 31st, many users' BUSD balances on Binance will be automatically converted into First Digital USD. This conversion will take place seamlessly, and users will not be required to take any action. The transition is designed to ensure a smooth and uninterrupted experience for BUSD users. Implications for BUSD Users While the automatic conversion should minimize any disruption for BUSD users, it is important for them to be aware of the implications of this change. Once their BUSD balances are converted into First Digital US

Zk Rollups vs. Ethereum Scalability: A Benchmarking Review

Zk rollups, a promising scalability solution for Ethereum, are now battling it out to claim the "throughput crown." Celer Network, a blockchain interoperability protocol, has released benchmarking results comparing the performance of different zero-knowledge provers used in these rollups. The latest addition to the benchmarking framework is zkSync's prover called Boojum, named after a dangerous creature from Lewis Carroll's poem. Let's dive into the details and see how these zk rollups are competing for the top spot in terms of throughput.

The Rise of Zk Rollups

Validity proof-based rollups have quickly evolved from theoretical concepts to practical solutions that could significantly scale Ethereum. Zk rollups leverage zero-knowledge proofs to bundle multiple transactions together and submit a single proof to the Ethereum mainnet, reducing the burden on the network and increasing throughput.

Benchmarking Zero-Knowledge Provers

To determine the performance of different zero-knowledge provers used in zk rollups, Celer Network has developed a benchmarking framework. The framework evaluates key metrics such as proof generation time, verification time, and proof size. By benchmarking these provers, developers and users can make informed decisions about which solution offers the best performance.

Introducing Boojum: zkSync's Prover

The latest addition to Celer Network's benchmarking framework is zkSync's prover called Boojum. Named after a dangerous snark from Lewis Carroll's poem, Boojum aims to provide efficient and secure proof generation for zk rollups. With the inclusion of Boojum in the benchmarking framework, developers can now compare its performance against other provers and assess its suitability for their scalability needs.

The Battle for Throughput Crown

With the benchmarking results now available, zk rollups are competing to claim the "throughput crown." Throughput, or the number of transactions a system can process per unit of time, is a crucial factor in determining the scalability of a solution. By comparing the performance of different provers, developers can identify the most efficient and high-performing option for their specific use cases.

Implications for Ethereum Scalability

The benchmarking results released by Celer Network have significant implications for Ethereum scalability. As the network continues to face congestion and high gas fees, finding scalable solutions becomes increasingly important. Zk rollups offer a promising way to increase Ethereum's throughput and reduce transaction costs. By identifying the most performant provers through benchmarking, developers can enhance the scalability of their applications and contribute to the overall growth of the Ethereum ecosystem.

Looking Ahead

As the competition for the "throughput crown" among zk rollups intensifies, the benchmarking results provided by Celer Network serve as a valuable resource for developers and users. By evaluating the performance of different provers, stakeholders can make informed decisions about which solution best suits their scalability needs. The inclusion of zkSync's prover, Boojum, in the benchmarking framework adds another contender to the race. As Ethereum continues to evolve, the search for scalable solutions remains crucial, and zk rollups hold great promise for the future of the network.


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