Conflux and Accseal Announce Partnership to Advance Zero-Knowledge Technology
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Toronto, Canada, April 20th, 2023, Chainwire
Conflux has announced a new zero-knowledge (ZK) strategy in partnership with Accseal, a cutting-edge company that specializes in building ZK-accelerating chips. The collaboration aims to explore the most advanced ZK technologies and solutions that can be integrated into the Conflux ecosystem.
Conflux will leverage its ZK solutions across various scenarios, primarily to ramp up scalability. Currently, Conflux boasts a thriving NFT ecosystem in its core-space, with a significant number of users from large enterprises in China, such as Little Red Book. Using ZK solutions, this business model will replicate to other internet giants. Over 150 enterprises currently mint and sell NFTs on the Conflux network, resulting in a more than 10x surge in demand for storage space in Conflux nodes. According to on-chain data, the storage collateral on the Conflux chain was 82,566 CFX as of December 2021, which increased to 1,478,275 CFX by December 2022– an increase of 17x.
Conflux anticipates that over the next few years, the number of NFTs on Conflux and the corresponding storage requirements will continue to grow exponentially. Without new technical optimizations, there is a strong possibility of TB-level storage pressure on Conflux nodes by the end of 2025.
The growth of NFTs is set to continue, as they undergo a significant transformation in their application and scope. Initially, the focus was on creating scarce digital works, with value derived primarily from that scarcity. However, today's NFTs are being employed for community identity, and as a
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