Risc Zero Seeks to Revolutionize Off-Chain Applications with Blockchain Security

The new "Boundless" service aims to tackle scalability and cross-chain challenges using zero-knowledge proofs.

Risc Zero, a blockchain technology company, is preparing to launch "Boundless," a groundbreaking service that leverages zero-knowledge (ZK) proofs to bring blockchain-grade security to off-chain applications. The announcement on September 16 highlights the service's potential to resolve major scalability issues plaguing blockchain networks, such as transaction throughput and cross-chain interoperability.

Currently, blockchain applications require the re-execution of all transactions on-chain, which slows the system and leads to higher costs. Ethereum, for instance, averages fewer than 14 transactions per second (TPS), according to Chainspect, a figure far below the demands of a global financial system. Risc Zero’s Boundless aims to bypass these execution limits by using ZK proofs, which enable the verification of computations without requiring re-execution.

According to Risc, the latest generation of ZK proofs allows for computations "orders of magnitude larger than previously possible" and at significantly reduced costs. The Boundless service, still in testnet, is expected to unlock new possibilities across industries such as decentralized finance (DeFi), artificial intelligence (AI), and digital identity verification.

The Risc Zero team has suggested that Boundless could make decentralized exchanges (DEXs) perform as seamlessly as centralized exchanges (CEXs), while accessing liquidity across multiple blockchains. Moreover, it could facilitate verifiable AI interactions and enable the development of ZK-wrapped centralized ID solutions.

This innovative approach comes as several other blockchain platforms explore their own solutions to scalability challenges. Movement Labs is set to launch a new "postconfirmations" settlement mechanism by the end of 2024, potentially cutting confirmation times to under one second. Meanwhile, Celestia, a Layer-1 data availability network, recently unveiled a technical roadmap aiming to scale block sizes to 1 gigabyte, further pushing the boundaries of blockchain performance.

Risc Zero’s Boundless marks a significant step toward enhancing the efficiency and scalability of blockchain networks, with the potential to impact industries far beyond cryptocurrency. As Boundless approaches its full launch, it could become a cornerstone for blockchain's future, combining security, scalability, and versatility.

photo source / Blockonome