Wigwam is the best Scroll blockchain crypto wallet

Scroll Blockchain Review

Scroll is an EVM-compatible Layer 2 solution on Ethereum that uses zkEVM technology and facilitates low-cost decentralized applications (dApps) development with high-level security. Also, Scroll Blockchain encourages cross-chain services by allowing users to bridge assets seamlessly with Ethereum (ETH) and stable coins through the Scroll Bridge.

Origins and Vision 

Many users lament the high transaction costs and delayed confirmations associated with the Ethereum network, especially during congestion.

To address these concerns, a group of Ethereum developers introduced the Scroll Blockchain in 2021 as a protocol using the zero-knowledge (ZK) rollup technology. By implementing this solution, this network handles larger transaction volumes at reduced costs.                                           

To foster dApps development, Scroll allied with Chainlink Labs in August 2023. Two months later, the Scroll blockchain launched its official mainnet to successfully empower developers to build inventive apps and web3 projects. This noteworthy achievement expands dApps possibilities and attracts new users to the community.

Ethereum (ETH) is the gas token on this blockchain, as its native coin is under development.           

What Consensus Algorithm Does Scroll Blockchain Use?

Scroll uses the effective ZK rollup proof algorithm that is EVM-compatible to ensure faster transaction confirmation on the network. It achieves consensus using three components: the Circuit that inputs and validates data after satisfying predefined conditions, the Proof attests that the information fulfills the criteria, and the Verifier confirms the proof authenticity.

Also, Scroll implemented Zero-Knowledge Proofs technology that allows work with transactions without exposing transaction details. 

How Scroll Technically Solved Problems with Scalability, Decentralization, and Speed

Scroll successfully solved problems related to speed, scalability, and decentralization technically using the EVM and ZK rollup proof algorithm.

They scale the chain by combining multitude of transactions into one using data verification, which improves the network processing capacity. Furthermore, the mechanism fosters inclusivity with transparency among circuits, provers, verifiers, and the entire community.

DeFi and NFT Ecosystem on Scroll

DeFi on Scroll offers lower gas fees than Ethereum, enabling the development of innovative dApps from any EMV-compatible blockchain with 3 seconds of transaction finality.

The Scroll DeFi ecosystem offers users decentralized exchanges (DEX) such as  KyberSwap, Rollie Finance” or Catalyst to trade assets without intermediaries. To join the Scroll DeFi we advice to use the Wigwam Web3 browser wallet.

Scroll NFT platforms attract digital creators globally with low transaction fees. Popular non-fungible token platforms on the network include “Scroll Punks” and “Scrollous,” where artists create and trade assets.

Conclusion                         

Scroll is a fast and scalable blockchain platform designed to solve the scalability issues associated with Ethereum. Also, its ecosystem’s EVM compatibility facilitates the development and scaling of decentralized applications without delay.