RNDR Implements New Layer 2 Payment System

RNDR optimizes miner payments to handle high gas prices with Layer-2 Solution zkSync.

Unfortunately, as Glassnode has noted:

While we are excited about the promise of next generation Ethereum applications such as DeFi and NFTs, RNDR, built on the Ethereum blockchain, has not been immune to the effects of ultra-high gas fees and transactional volatility. For the last few months, RNDR miner payments have been halted as gas prices caused these processes to become prohibitively expensive.

The RNDR team will be deploying zkSync, a trustless layer 2 protocol for scalable, low-cost payments on Ethereum.

zkSync, built using zkRollup technology by Matter Labs, launched in 2020 to allow users to send tokens without worrying about high transaction fees or network congestion. At its launch, zkSync could process more than 200 transactions per second, gradually scalable to up to 2,000 transactions per second. The scalability nature of this layer 2 implementation can potentially see zkSync match Visa’s processing speed. Beyond transactions that are finalized within minutes and confirmed instantly, of note is that transaction fees are payable using the ERC-20 token transferred (Ethereum’s transaction fees are only payable using ETH).

We expect optimized blockchain transactions and miner payments to improve on RNDR network adoption. The team will continue to explore other L2 payments that will help RNDR scale going forward and we will provide updates as we progress on this work.

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