A $25 million investment is being invested in using ZK technology to make Ethereum a platform billions of users can use daily. @0xMiden uses Zero Knowledge Proofs when processing transactions. This means thousands of transactions are sent to Ethereum with a single verification seal. Miden's biggest difference is that it offers privacy by default when performing transactions. The technology behind this privacy, Miden VM, is a computational engine. Calculations are performed outside the network, either on users' devices or nodes, and only the results are written to the network. Before being written, the data is sent to ETH as a rollup (a bulk transaction). This makes transaction details invisible and allows for faster processing. We can understand Miden technology more easily with an example. Let's say 10,000 tickets are sold for a concert, and each ticket sale requires a separate transaction on Ethereum. 10,000 separate transactions on Ethereum create high gas fees and congestion. But in Miden, these 10,000 ticket sales are aggregated behind the scenes. A single, massive ZK Proof is generated, proving that all 10,000 transactions are valid. This small proof is all that is sent to Ethereum. Ethereum verifies just one proof instead of 10,000 transactions. The cost is reduced by a factor of 10,000, and the speed is exponentially increased.
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