PRESS RELEASE. July 17th, 2023, Hong Kong. Startup Open Asset Standards has recently announced QED, the world’s first ZK 2.0 blockchain protocol. Unlike existing zero knowledge blockchain protocols, QED has a novel state model which is horizontally scalable, meaning it is no longer limited by TPS restrictions that have previously prevented adoption of blockchain technologies in Web2 use cases such as social networks, traditional finance, and gaming.
Enabled by advances in fast recursive zero knowledge proofs, QED is able to achieve this scale without compromising security or decentralization and proves all transactions end-to-end using proof recursion (verifying a zero knowledge proof in a zero knowledge proof ). This process of decentralized recursive proving culminates in a single block proof which can be verified by an Ethereum smart contract, making the protocol only reliant on the Proof of Math itself, rather than an incentive based consensus system vulnerable to collusion, hacking and misaligned incentives.
As the first blockchain capable of serving billions of users in a single block, QED does away with the need for a zk-VM by compiling smart contract functions directly to zero knowledge circuits, making it the first zk-Native blockchain. QED’s novel approach to ZKP allows users to prove their own transactions on their own device in milliseconds, enabling a new privacy centric internet where transactions are private by default and sensitive data never has to leave a user’s device.
With its announcement of the QED Protocol, Open Asset Standards unveiled QED’s official Dapen Smart Contract IDE. With Dapen, Web2 developers can write zk Smart Contracts in the world’s 2 most popular programming languages, JavaScript and Python, which have a developer market share 357 times larger than the Solidity community which only makes up a miniscule 0.1% of the world’s developers.
In addition to making blockchain accessible to more developers than ever before, Dapen has integrated support for Markdown smart contracts which allow even non-technical users to write smart contracts in English using their integration with several large language AI models (LLMs) including ChatGPT.
Backed by Animoca Brands’ fund Sparkle Ventures whose General Partners include Sebastien Borget, Co-founder of Sandbox, and Yat Siu, Co-founder of Animoca Brands, QED is set to see major adoption within the gaming space which regularly support millions of concurrent gamers playing at once. Due to its horizontal scaling model, QED is able to add transaction processing capacity by simply adding more proving nodes to its network, allowing large scale gaming to integrate with blockchain technologies such as dynamic NFTs for the first time.
Headed up by Founder and CEO Carter Feldman, a former childhood hacking prodigy and reverse engineer, the QED core team is made up of a diverse team from both Web2 tech giants and Web3 titans including Binance, reflecting the protocol’s mission to unite Web2 and Web3.
Contact Information
Website: www.qedprotocol.com
Twitter:
- Official: @qedprotocol
- Founder: @cmpeq
Email: news@qedprotocol.com
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