How Fast is Myria?
When it comes to blockchain technology, we often hear the term speed. But what exactly is blockchain speed and how fast is Myria when compared to some of the other popular networks?
Myria is a cutting-edge Layer 2 scaling solution for Ethereum that offers unprecedented transaction speeds and efficiency. By harnessing the power of zero-knowledge proofs, Myria enhances performance and drastically reduces transaction costs, setting a new standard in the space. To answer the initial question, we’ll have to take a look at some of the elements that make a blockchain fast. It’s not just transactions per second but also finality time and block size.
What is Layer 2 Scaling?
Let’s start by saying that Myria is a Layer 2 solution. This means it builds on the already existing Ethereum network to enhance performance without compromising security. The layer acts as a parallel framework to the main Ethereum chain, handling transactions and computations off-chain before settling the final state on-chain. By using this method, it significantly reduces the burden on the main Ethereum network, leading to faster processing times and lower fees.
The Myria Layer 2
The Power of ZK Proofs
The core tech behind Myria’s efficiency is zero-knowledge proofs. This advanced cryptographic technique allows one party to prove to another that a statement is true, without revealing any information beyond the validity of the statement itself. In Myria’s context, transactions can be validated and secured without exposing any transaction details, thus ensuring privacy and reducing the computational load on the network. Myria uses a special type of zk-rollup called ZK-Stark (Zero-Knowledge Scalable Transparent ARguments of Knowledge) to interact with Ethereum.
Blazing Fast Transactions
Myria leverages its technology to achieve what many in the blockchain space thought was unattainable: over 9,000 transactions per second. To put this in perspective, the Ethereum mainnet typically processes around 15 TPS and Solana can manage about 1500 TPS. This dramatic increase in speed makes Myria an ideal platform for developers looking to build scalable decentralized applications (dApps) that require high throughput, such as blockchain games.
Instantaneous Transaction Finality
Another significant advantage of Myria is its fast transaction finality. This means that once a transaction is processed on the Myria network, it is considered final and irreversible. On Ethereum, this may take minutes. On Myria, there is no waiting for multiple confirmations and the result is almost instantaneous transaction finality. This feature is essential for any application that requires real-time transaction processing and blockchain games are once again a perfect example.
Zero Gas Fees
One of the most appealing features of Myria is the complete elimination of gas fees. In traditional Ethereum transactions, users must pay gas fees to compensate for the computational energy required to execute and validate transactions. These fees can vary widely and sometimes become increasingly more expensive during high network congestion. Myria’s Layer 2 solution circumvents this issue by handling transactions off-chain, thereby removing gas fees and making transactions more cost-effective for all users.
Myria is not just fast; it’s a transformative force in the blockchain landscape. By providing more than 9,000 TPS, instantaneous transaction finality, and zero gas fees, Myria enables a level of scalability and efficiency that sets it apart from other blockchain solutions. For developers and users frustrated by the limitations of traditional blockchain platforms, Myria offers a promising and powerful alternative that can meet the demands of complex, high-volume applications without sacrificing speed or security. As we move forward, Myria is poised to play a crucial role in Web3 gaming.
About Myria
Myria is a blockchain game development studio and an Ethereum Layer 2 solution powered by StarkWare, to scale digital assets, NFTs, and blockchain gaming. Myria utilizes ZK roll-up tech to supercharge its ecosystem and bring the next generation of gamers to the blockchain. Myria has a thriving community of over 500,000 users, and more than 270 blockchain projects are already building on the Myria blockchain. Thanks to ZK technology, users can expect high transaction speeds, 0 gas fees, and free NFT minting.
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