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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

  • Gaming
    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    The Biggest Games Releasing in August 2025

    The Biggest Games Releasing in August 2025

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

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    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

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  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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Home Blockchain

Helius Labs CEO Slams Zk Compression For Crypto Slump

July 6, 2024
in Blockchain
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Helius Labs CEO Slams Zk Compression For Crypto Slump
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Helius Labs CEO Mert Mumtaz recently set crypto Twitter ablaze with a series of tweets about Solana’s new ZK compression technology. His take on this tech advancement has got the crypto community talking.

READ ALSO

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Unpacking Mumtaz’s Crypto Tweets

thanks a lot for nuking my entire net-worth, zk compression

disgusting evil technology that should have never been created pic.twitter.com/YLk0z4dZZ1

— mert | helius | hSOL (@0xMert_) July 4, 2024

In his tweets, Mumtaz jokingly blamed ZK Compression for some pretty dramatic effects. He stated that ZK compression was nuking his entire net worth. He also called it a disgusting, evil technology and said that it should never have been created.

He dubbed it “zk depression,” and mentioned that the “markets are down only due to zk compression and nothing else.”

ZK Compression is actually a new scaling solution that could make Solana transactions much cheaper. Mumtaz had earlier stated that it might reduce the cost of sending tokens to a million users from $260,000 to just $50.

Some see ZK compression as a game-changer, while others worry it might contradict Solana’s previous stance on certain scaling solutions.

In another tweet, Mumtaz mentioned that the recent price slump has fundamentally changed everything that he knew about blockchains. He also stated that nothing is the same anymore. “The tech doesn’t work, and it never will—our validator told me it’s not even excited to produce blocks,” Mumtaz said.

See also  Pixudi teams launches XGuild initiative to onboard game developers onto Neo

He blamed it all on zk compression, stating that it is making developers spend less money on accounts. Mumtaz also joked, ” We need zk enlargement.”

Also Read: Justin Sun Wants to Buy All Bitcoins Held by German Government

Tags: CEOCompressionCryptoHeliusLabsslamsSlump

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