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WEMIX provides a global overview of WEMIX Canvas

WEMIX provides a global overview of WEMIX Canvas

first disclosure of the roadmap, approach, manifesto, and other key details; An optimistic Testnet model with ZK proof of fraud expected to launch in late March 2023

DubaiThe United Arab EmiratesAnd March 16, 2023 /CNW/ – WEMIX, a leading blockchain-based ecosystem developer, unveiled today at ETHDubai 2023, official website and logo WEMIX CANVASNext-generation Ethereum layer 2 solution with ZK rollup equivalent to EVM. Entitled “Infinite Space for Value Creation,” WEMIX Canvas’s website provides an overview of the project, including its philosophy, technology, roadmap, manifest, and more. The website and logo were officially revealed during an interview about WEMIX Canvas with Taekyu Park (TK), CEO, and Dongjoo Lee (DJ), CTO at Wemade’s Lightscale responsible for developing solutions to address Ethereum’s scalability challenges.

Because of the decentralized storage of data, the blockchain suffers from what might be called the trilemma blockchain; It seems impossible to be secure, decentralized and scalable at the same time. Ethereum has sought to find a scalable solution that does not compromise the values ​​of security and decentralization. The limited maximum number of transactions Ethereum can process leads to higher gas prices as the number of users grows.

Shin Kim, CEO of WEMIX Pte Ltd, said: The goal of WEMIX Kanvas is to help all users participate in the main ecosystem of the Ethereum network easily, quickly and at a low cost by reducing these costs while ensuring fast processing speeds, high security and decentralization. »

Several solutions have been proposed to address Ethereum’s scalability issues, including hashes, sidechains, state channels, Plasma, Validium Chain, and aggregations. To solve the problem, WEMIX Kanvas compresses transactions and merges them with the Ethereum mainnet, which significantly reduces transaction fees compared to using the mainnet directly. Most ZK Rollup projects focus on specific Rollup ZK implementations, and while they aim to achieve Type 2 (EVM equivalent) or Type 1 (Ethereum equivalent) using zkEVM, marketing is sometimes tedious due to the time required to provide evidence. WEMIX Kanvas uses a two-step hybrid approach that evolves from an optimistic combination with ZK’s fraud-proof model in Phase 1 to an EVM-equivalent ZK Rollup technology in Phase 2.

An optimistic WEMIX Kanvas clustering technology with ZK’s fraud-proof testnet model will be launched by the end of March, followed by the mainnet in the third quarter of this year, the ZK Rollup equivalent of the EVM before the end of 2023, and finally the ZK Rollup Mainnet blockchain in the second quarter of Next year.

About WEMIX Pte Ltd.
WEMIX Pte. Ltd aims to accelerate the widespread adoption of blockchain technology, which will form the basis of the future digital economy, by working with stakeholders in the ecosystem to create Web3 services that are intuitive, convenient and easy to use for everyone.

For all media inquiries, please contact: Kevin Fu, Global Public Relations, [email protected]

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