Runtime Verification, an Illinois-based security audit firm, unveiled a universal zero-knowledge (ZK) rollup ‘PI Squared’ during the third day of the xDay conference organized by MultiversX. PI Squared leverages the MultiversX blockchain as its consensus layer.
PI Squared is designed to revolutionize how computational claims are verified by shifting the focus from traditional methods to mathematical proofs. This will be facilitated through a universal proof checker, implemented as a custom parallel ZK circuit, according to a press release shared with CryptoSlate.
A ZK rollup is a blockchain scaling solution that bundles and verifies multiple transactions off-chain using cryptographic proofs to improve efficiency and reduce costs on the main blockchain.
Runtime Verification is known for applying NASA-developed formal verification methods to enhance the safety and reliability of computing systems. Runtime Verification is now bringing its expertise to the blockchain space, where the complexity of smart contract composability and blockchain architecture necessitates rigorous security measures.
With the rapid expansion of the blockchain space, there has been a corresponding increase in hacking incidents and smart contract exploits. This has underscored the need for higher security standards. Runtime Verification’s ZK rollup-based solution aims to address these issues, as it goes beyond merely enhancing the scalability of Layer 1 networks.
According to Runtime Verification, PI Squared is a programming language and virtual machine (VM) agnostic. This makes it accessible to developers, users, and enterprises utilizing the MultiversX blockchain in their workflows. PI Squared will enable them to effortlessly, trustlessly, and programmatically verify the correctness of proofs, claiming to provide a more secure and reliable blockchain ecosystem.
By providing a development toolkit that can detect subtle bugs and logic flaws from the design phase, MultiversX aims to become an appealing platform for businesses looking to ensure the integrity of their blockchain-based projects.
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Source: https://cryptoslate.com/runtime-verification-launches-universal-zk-rollup-pi-squared-on-multiversx/