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19 September 2021

A Green Solution to Ethereum’s Problems – An Australian Start-up Is Changing the Blockchain Mining Game

A Green Solution to Ethereum’s Problems – An Australian Start-up Is Changing the Blockchain Mining Game


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However, Australian start-up zkTube Labs is here to change the impact mining has on the environment and, in the process, solve some of Ethereum’s congestion and high gas fee problems without compromising security.

Melbourne-based zkTube is ready for its official Mainnet launch on September 10th, and for the crypto mining and overall Blockchain community, their solutions cannot come fast enough.

The initial concept for the zkTube Protocol prototype originated in 2018 when Ethereum founder Vitalik Buterin proposed a mining solution for anti-ASIC (Application-Specific Integrated Circuit).  At the time, Lance Zhang, founder of zkTube, had participated in the “Ethereum Scalability and New Ideas Exploration of POS Mining” and came up with the innovative concept of a Layer 2 solution for crypto mining.

For the zkTube Labs team, it was clear that there had to be a better way to mine for cryptocurrencies.

In the words of Daniel Puzny, zkTube’s CEO, “zkTube is a world-first Layer 2 mining protocol that adopts Zero-Knowledge proof, which enhances scalability and transaction throughput, lowers gas fees, and improves privacy for Ethereum, all whilst significantly reducing energy consumption”.

While the technology and backend of zkTube might be complicated, the end result is not: zkTube has created a platform that allows users to mine for cryptocurrencies, or perform any of the typical blockchain transactions, for a fraction of the price and at much higher speeds.

Together, they make up zkTube Labs and PayTube Explore, along with a leadership team that looks after both business units and explores new ideas.

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