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Nexo's $3 Billion Arbitration Claim Against Bulgaria: Unveiling the Legal Battle

Nexo, a prominent crypto lending firm, has recently filed a $3 billion arbitration claim against the Republic of Bulgaria following a year-long criminal investigation into the company and its founders. In a press release on Wednesday, Nexo strongly argued that Bulgaria's investigation was unjustified and politically motivated, resulting in significant reputational damage and lost business opportunities estimated to be in the billions. The company, now cleared by the Bulgarian Prosecutor's Office, is seeking reparations for the financial harm suffered as a result of the investigation. Key Points: Nexo is one of 22 investors in Decrypt. The company had to abandon plans for a funding round with leading U.S. banks and an IPO on a major U.S. stock exchange due to the lawsuit. Nexo was finalizing a strategic alliance with a major European football club, which included the launch of a club-branded crypto payment card. Antoni Trenchev, co-founder of Nexo, emphasized that the arbi

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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