Andus, Propelling ‘zk-rollup’ to Strengthen Public Permissionless Blockchain, a News Article

2023-11-22 21:37
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Andus, Propelling ‘zk-rollup’ to Strengthen Public Permissionless Blockchain

[E-Daily Reporter Kim Hyun-ah] On the 22nd, Park Sung-joon, CEO of Andus Co., Ltd., who also holds the position of Director of the Blockchain Research Center at Dongguk University’s Graduate School of International Information Security, revealed that they are developing the ‘Anduschain zk-rollup Project’ to enhance the scalability and security of Anduschain, the only public permissionless blockchain in Korea.

Currently, in Korea, various Layer 2 projects are being pursued to enhance the scalability and privacy of public permissionless blockchains. Park Sung-joon, a Ph.D. in cryptography (zk·zero knowledge), stated that he believes zk-rollups will ultimately become more prevalent than the currently popular Optimistic Rollup method.

As a result, the Anduschain zk-rollup Project has been initiated, with its basic design and direction set, and development has commenced, aiming for commercialization by 2024.

Park Sung-joon stated, “Through this, we plan to significantly improve the speed of Anduschain and set the fees to be the lowest in the world.”

Anduschain is realizing sustainable decentralization based on its unique deb consensus algorithm. The deb consensus algorithm allows for the development of a public blockchain that is faster than Ethereum while maintaining decentralized characteristics. Also, the Anduschain zk-rollup is designed to be 100% compatible with the Ethereum Virtual Machine (EVM), facilitating easy transition for Ethereum-based decentralized applications (Dapps).

Anduschain is utilizing the government’s private investment-led technology startup support (TIPS) program to support blockchain technology-based startups.

This program is being conducted in cooperation with the Daegu Metropolitan City Happy Promotion Social Service Agency, running a blockchain technology-based startup process, and from September to December 2023, they are supporting entrepreneurship and business activation for three business models. The BPIS program operates in three sessions annually, and in mid-December 2023, they plan to recruit for the first session of 2024.