Ola, an ecosystem of privacy-centric solutions, announces the release of the second iteration of its whitepaper. With Ola, blockchains that normally lack privacy tooling (including Ethereum) can be equipped with additional privacy layers.
Ola publishes second whitepaper for its ZK-ZKVM solution: Details
According to an official statement shared by Sin7y Labs, the development team behind the Ola ecosystem, its second whitepaper, Ola: A ZKVM-based, High-performance, and Privacy-focused Layer2 platform, has been published.
1/5)— Ola (@Sin7y_Labs) April 9, 2023
We are thrilled to announce the release of the second edition of our technical white paper - Ola: A ZKVM-based, High-performance, and Privacy-focused Layer2 platform. https://t.co/rPV2pghADW
Ola is a pioneer of so-called ZK-ZKVM, a novel technical solution designed to introduce programmable privacy to major blockchains. ZK-ZKVM release for Ethereum (ETH) is set to offer programmable privacy to ETH and ERC-20 token transactions: as per the whitepaper, it can obfuscate everything, which supports user-defined functions.
ZK-ZKVM’s approach to privacy is optional: both the sender and recipient of value could optionally choose to deploy/send a public or private type.
ZK-ZKVM also has a killing feature that makes it superior to other privacy solutions: it can offer compliance-friendly privacy when users have the opportunity to share viewing keys with third parties. As such, regulators can track transactions without being able to somehow alter data or intercept value transfer.
ZK-ZKVM by Sin7y Labs’ Ola addresses one of the most crucial aspects of blockchain development, i.e., data privacy. Flexible and robust customizable privacy solutions can upgrade the level of data obfuscation for every blockchain regardless of its consensus and the programming language it uses.
In 2023, as explained by the Ola v2 whitepaper, the product and its ecosystem are scaling. The whitepaper is set to provide a detailed explanation of full-featured zk-friendly ZKVM, OlaVM, as well as its native programming language Olalang. The details of this tooling implementation will be revealed in the upcoming third whitepaper: as of Q1, 2023, the instruments are being stress-tested.
Bringing programmable privacy to various blockchains
In Ola, view keys are upgradeable: the participants of transactions can prevent third parties from tracking the balances of their accounts. Users can regain control over the privacy and on-chain data of their wallets.
The ecosystem of solutions by Ola has stressed programmability: it leverages a customized GPL language that has more advanced features and is more flexible than DSL.
It also works way faster than competitor solutions: its OlaVM (zk-friendly ZKVM) can execute transactions and generate ZKPs in a lightning-fast and high-performance manner.
Using the LLVM compilation framework makes all Ola ecosystem developments easily compatible with advanced programming languages. Last but not least, it is developer-friendly: the Olalang language plug-in is integrated with Visual Code Studio, which makes it easier for newbie developers to start building. Olalang has syntax similar to that of Rust, a mainstream multi-paradigm, high-level programming language.
One-stop ecosystem for new generation of privacy solutions: What is Ola?
Initially, Ola was revealed by crypto veteran Sin7y Labs in 2022 amid a painful bearish recession on cryptocurrency markets. Its developers have unparalleled expertise in almost all popular zero-knowledge systems: Plonk, Halo2, Marlin, Customized Gate, Lookup Argument, Zcash (ZEC) and Aleo (ALEO).
Its development and product ecosystem boasts a number of products, including but not limited to virtual machine OlaVM, smart contract language Olalang, Ola-compiler and Ola-sequencer.
As such, releasing a second whitepaper paves the way to the next phase of Ola innovation in adding a programmable layer of privacy to various blockchains.