Ex-Goldman Sachs Exec Joins OpenZK Network as Co-Founder

Dave Sandor, former executive director of Goldman Sachs and Morgan Stanley for the Asia Pacific region, announced his new role as co-founder of OpenZK Network, a solution designed for scaling ZK-Rollup.

OpenZK announced that Dave Sandor will join as a co-founder to lead the progress of ZK-Rollup scaling solutions on product structure, integrating institutional finance into potential decentralized finance. . HAS OpenZK Network, Sandor will lead the development of next-generation Layer 2 solutions, focusing on improving the ecosystem reward mechanism and user experience.

“Dave’s unique expertise positions us to advance the L2 landscape, delivering performance, security, rewards and a superb user experience for our entire ecosystem, from developers to traders to institutional partners. »

Post X from OpenZK

OpenZK became the first native to support Ethereum (ETH) staking, re-staking or liquidity, as well as a stable staking L2 scaling solution. Real world assets, stable coinsand staking are services that cater to these fast-growing segments of DeFi.

With the growing momentum of L2 solutions, Sandor’s financial acumen is expected to play a critical role in guiding OpenZK’s strategic growth and development.

Current challenges of ZK-Rollups

ZK-Rollups are important in solving issues that blockchain has been struggling with for some time, such as scalability, cost, and privacy. They do this by using a set of off-chain transactions validated using proofs of zero knowledge submitted to the main chain. This significantly reduces congestion and gas fees for networks such as Ethereum while maintaining security.

Furthermore, experts also explained that the ZK-Rollups offer was improved confidentiality by only requiring that evidence of transactions be verified without having to expose sensitive information such as the content of those transactions, making them suitable for privacy-related applications such as identities and financial services that need to build trust between users.

Despite these advantages, they also have several disadvantages. Some of these include complex development, computationally intensive proofs, dApp integration difficulties, and data availability issues for off-chain transactions, as seen previously in ZKsync. Sandor’s new position as co-founder of OpenZK can address ZK-Rollup’s current challenges and lay the foundation for the mass adoption and future growth of ZK-Rollups as a whole.