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Ether's 11% Rally Driven by Coinbase Demand Insights

Ether's Resurgence: Analyzing the Impact of Coinbase on Price Rally The cryptocurrency market is a fascinating ecosystem, continuously shaped by buying and selling dynamics. Recently, Ether (ETH) experienced an impressive 11% rally, and the data from CryptoQuant suggests that this surge is closely linked to significant buying pressure, particularly from the regulated exchange, Coinbase. This is an essential development for investors and cryptocurrency enthusiasts alike, as it highlights the importance of trusted platforms in driving market movements. The Coinbase Premium: A Key Indicator One of the most telling indicators of this rally is the Coinbase premium , which measures the price difference between Coinbase's ETH/USD pair and Binance's ETH/USDT pair. The data reveals a compelling narrative: Spike in Demand : The premium indicated that a surge in buying activity on Coinbase occurred just before the spike in Ether prices, illustrating how influential this excha

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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