Binance announced its 60th Launchpool project, Scroll (SCR), offering a new zkEVM Rollup-based scaling solution for enhancing Ethereum scalability.

What is Scroll?

Scroll is a Layer-2 solution built on Ethereum’s zkEVM (Zero-Knowledge Ethereum Virtual Machine), aimed at solving the scalability issues of the network. The protocol uses zero-knowledge proofs to bundle transactions off-chain, which are then verified on the Ethereum mainnet. This reportedly reduces transaction costs and processing times, making Ethereum more efficient and scalable.

Benefits of Scroll

Ethereum faces high gas fees and network congestion, especially during peak times. Scroll addresses these issues by handling transactions off-chain and submitting only verified bundles to the main Ethereum network, reducing the strain on the network. This potentially enhances the user experience for decentralized applications (dApps) on the platform, offering faster transactions and lower fees. Additionally, Scroll utilizes a zero-knowledge proof system and communication channels to integrate with other Layer-2 networks.

Scroll and Binance Launchpool

Scroll is the latest project on Binance's Launchpool, offering users the chance to participate by earning SCR tokens. From October 9 to 10, 2024, Binance users can lock their BNB and FDUSD into special pools to earn SCR. A total of 1 billion SCR will be issued, with 55 million SCR distributed among participants. After the farming period ends, the SCR/USDT trading pair will be available on Binance Pre-Market starting October 11, 2024.

Binance Launchpool provides a unique opportunity to leverage Scroll in addressing Ethereum's scalability, giving users access to new technologies and opportunities.