EY updates Ethereum scaler Nightfall to a ZK-rollup
The Big Four accounting firm formerly known as Ernst & Young has changed its enterprise-focused layer 2 blockchain Nightfall to a zero-knowledge rollup design, which it says offers near-instant transaction finality on Ethereum.EY said in an April 2 announcement that Nightfall’s new source code, “Nightfall_4,” simplifies the network’s architecture and makes it more accessible to users than its previous optimistic rollup-based version.The move away from optimistic rollups means Nightfall users won’t need to challenge potentially incorrect transactions on Ethereum and wait out the challenging period, leading to faster transaction finality.No such feature is present with zero-knowledge rollups, meaning that a transaction becomes final as soon as it is added into a Nightfall block, EY said. “This update to version four represents a major update to Nightfall, providing the same privacy and scaling that version three enabled, but now with near-instant finality and a simplified architecture,” said EY’s global blockchain leader, Paul Brody.It is the fourth major update to Nightfall since EY launched the business-focused Ethereum layer 2 in 2019.Nightfall enables the firm’s business partners to transfer tokens privately using Ethereum’s security while being cheaper than the base network. Nightfall also uses a technology that binds a verified identity to a public key through digital signatures to try to stem counterparty risk.Supply chain tracking for financial and manufacturing firmsKey features of EY’s Ethereum layer 2 Nightfall blockchain. Source: EYRelated: EY invests $1.4 billion in AI tech, launches new platformNightfall also works in tandem with EY’s other main blockchain solution, OpsChain, to provide a supply chain tracking platform for financial, logistics and manufacturing businesses.Nightfall’s code is open source on GitHub but remains a permissioned blockchain for EY’s customer base.Competitors to EY’s Nightfall include the IBM-backed Hyperledger Fabric, R3 Corda and the Consensus-built Quorum.Magazine: What are native rollups? Full guide to Ethereum’s latest innovation
The Big Four accounting firm formerly known as Ernst & Young has changed its enterprise-focused layer 2 blockchain Nightfall to a zero-knowledge rollup design, which it says offers near-instant transaction finality on Ethereum.
EY said in an April 2 announcement that Nightfall’s new source code, “Nightfall_4,” simplifies the network’s architecture and makes it more accessible to users than its previous optimistic rollup-based version.
The move away from optimistic rollups means Nightfall users won’t need to challenge potentially incorrect transactions on Ethereum and wait out the challenging period, leading to faster transaction finality.
No such feature is present with zero-knowledge rollups, meaning that a transaction becomes final as soon as it is added into a Nightfall block, EY said.
“This update to version four represents a major update to Nightfall, providing the same privacy and scaling that version three enabled, but now with near-instant finality and a simplified architecture,” said EY’s global blockchain leader, Paul Brody.
It is the fourth major update to Nightfall since EY launched the business-focused Ethereum layer 2 in 2019.
Nightfall enables the firm’s business partners to transfer tokens privately using Ethereum’s security while being cheaper than the base network. Nightfall also uses a technology that binds a verified identity to a public key through digital signatures to try to stem counterparty risk.
Supply chain tracking for financial and manufacturing firms
Key features of EY’s Ethereum layer 2 Nightfall blockchain. Source: EY
Related: EY invests $1.4 billion in AI tech, launches new platform
Nightfall also works in tandem with EY’s other main blockchain solution, OpsChain, to provide a supply chain tracking platform for financial, logistics and manufacturing businesses.
Nightfall’s code is open source on GitHub but remains a permissioned blockchain for EY’s customer base.
Competitors to EY’s Nightfall include the IBM-backed Hyperledger Fabric, R3 Corda and the Consensus-built Quorum.
Magazine: What are native rollups? Full guide to Ethereum’s latest innovation
