KELMME TECHNOLOGIES PRIVATE LIMITED

In their own words

Yes, it is innovating in blockchain technology by using Account Abstraction, ERC 4337 and zk-rollups to make it more efficient for doing multi-batch transactions. Currently it is very expensive (~$50-100) to complete a multi-batch transaction on the blockchain. We aim to bring this gas fee down to less than $1 for multi-batch transactions on the blockchain. As the number of transactions on the blockchain (Ethereum mainnet) began to increase, the gas fees also increased considerably. This made it economically infeasible to carry out transactions and especially micro transactions of less than $10. If you completed multiple transfers in one transaction, then it became more expensive. As a result, it could cost anywhere from $50 to $100 for a multi-batch transaction on the Ethereum mainnet. This makes it economically infeasible for any user to complete transfers or transactions on the network. To solve the problem of traffic on the Ethereum mainnet, rollups came into the picture. These rollups also called L2s can be visualized as sitting on top of the Ethereum L1 and they help solve Ethereum’s scaling problems. For starters, these L2s help the main network by diverting traffic away from the main network and completing transactions on the L2. There are two types of rollups, optimistic and zk rollups. Zero knowledge rollups such as the zk sync era help cut down transaction fees and time massively. Instead of adding new protocol features and changing the bottom-layer transaction type, we instead introduce a higher-layer pseudo-transaction object called a UserOperation. Users send UserOperation objects into a separate mempool. A special class of actor called bundlers (either block builders, or users that can send transactions to block builders through a bundle marketplace) package up a set of these objects into a transaction making a handleOps call to a special contract, and that transaction then gets included in a block. It seeks to achieve the following goals: Achieve the key goal of account abstraction: allow users to use smart contract wallets containing arbitrary verification logic instead of EOAs as their primary account. Completely remove any need at all for users to also have EOAs (as status quo SC wallets and EIP-3074 both require) Decentralization Allow any bundler (think: block builder) to participate in the process of including account-abstracted user operations Work with all activity happening over a public mempool; users do not need to know the direct communication addresses (eg. IP, onion) of any specific actors Avoid trust assumptions on bundlers Do not require any Ethereum consensus changes: Ethereum consensus layer development is focusing on the merge and later on scalability-oriented features, and there may not be any opportunity for further protocol changes for a long time. Hence, to increase the chance of faster adoption, this proposal avoids Ethereum consensus changes. Try to support other use cases Privacy-preserving applications Atomic multi-operations (similar goal to EIP-3074) Pay tx fees with ERC-20 tokens, allow developers to pay fees for their users, and EIP-3074-like sponsored transaction use cases more generally Support aggregated signature (e.g. BLS) Users send UserOperation objects to a dedicated user operation mempool. A specialized class of actors called bundlers (either block builders running special-purpose code, or users that can relay transactions to block builders eg. through a bundle marketplace such as Flashbots that can guarantee next-block-or-never inclusion) listen in on the user operation mempool, and create bundle transactions. A bundle transaction packages up multiple UserOperation objects into a single handleOps call to a pre-published global entry point contract.

Written by the company on its public Startup India profile. Not verified by us.