Stellar (XLM), renowned crypto that has already made a massive impact in the market is looking for different alternatives to make its network much better. A network that provides more flexibility, scalability and is more efficient.
For the improvement of its blockchain network, the network works on the protocol usually but in this case Stellar is going for sidechain research and this will add new features that will help Stellar to emphasize on improving its overall general capabilities.
Stellar is working on new research that is known as ZkVM, the zero-knowledge virtual machine. This project is set to work on raising the standards of Stellar, which will make it more scalable and have private smart contracts.
The ZkVM transactions work under the programmable curb over the encrypted data and assets. Different organizations and users will be able to perform their transactions and custom financial agreements directly on the ledger with safety, instead of keeping them in a siloed database.
How this ZkVM blockchain system will work? It is a bit different from other from blockchain ecosystems. It will use a compact data model which could be easily fitted in KBs. The verification of the transactions would take 1 to 2 ms per CPU core, as it is highly parallelizable.
This project will help Stellar (XLM) as it will be applicable with the Stellar Consensus Protocol. Transactions in a large number of volumes will be made easy and secret data will have high-level privacy and it will allow the users to have a wide range of usage of full validators. ZkVM support will help create a custom protocol that will allow users to use blockchain without having to upgrade the blockchain very often for new updates.
Stellar (XLM) is developing as a bigger unit and this project will cover different aspects of XLM blockchain will modern solutions. The developer’s team are doing a good job in creating such a platform that comes up to the expectations of the users will full security and confidentiality.
These projects seem to be small but they are very important for long-term progress. Stellar already has made its mark among financial firms and top firms around the world, as they are using XLM blockchain for daily transactions. If Stellar keeps on improving, there will be more mass adoption of XLM in the coming time, which would help its growth in the market.
At the time of press, Stellar (XLM) was trading at a rising rate of 3.5% in the last 24 hours. The trading price was around $0.138 USD with a market cap of $2.6 billion and has a trading volume of $504 million. As the market is getting better day by day, this year seems to be a recovering one for the cryptocurrencies. Stellar is benefiting from these bulls run and the future awaits of some major breakthroughs.