Introduction of the zKtube protocol
As one of the most typical Layer 2 scaling solutions, the zkTube testnet has received close attention from all parties at the beginning. Currently, more than 13,000 early users worldwide have participated in the zkTube testnet to experience the Deposit function. The Angel Right 100,000 ZKT donation plan launched at the same time was 100% subscribed within two hours, which shows the popularity of zkTube worldwide
The global community of zkTube includes 60,000 members from Saudi Arabia, Russia, Vietnam and Korea. As one of the most promising scaling solutions, the zkTube protocol has attracted attention from the very beginning of the project. First proposed by Vitalik Buterin, zkTube uses Layer 2 with zero-knowledge proof to solve the congestion problem of the Ethereum network.
What is Zktube?
zktube is a protocol with ZK Rollup solutions that build zero-knowledge proofs for users and developers, providing basic protocol support services that can enable better migration of applications and contracts on Layer 1. It can improve scalability by converting bulk transmission into a single transaction.
The zkTube protocol is an Ethereum Layer 2 scaling solution based on ZK Rollup technology. All funds are held by smart contracts on the main chain. zkTube performs calculations and storage off-chain, and its sub-chain efficiency is proven by zero-knowledge.
In the zkTube network, users can perform various transactions and transfer functionality of ERC20 tokens in the wallet with TPS 3000+, real-time arrival and the same security guarantee of the Ethereum Mainnet level. This premium and smooth experience cost per transaction gas fee is 200 times lower than existing Ethereum Mainnet.
Eco-planning of zkTube
Open source payment network
PayTube Wallet is an open source payment wallet developed based on zkTube protocol for all users. We are able to provide an easy-to-use and low-cost Layer2 payment environment to our users thanks to our cross-platform mobile wallet, PayTube Wallet.
Solution N + Dapp
It is a Web 3.0 Dapp — PayTube Wallet based on zkTube protocol and realize interoperability with DeFi, NFT and other domains. PayTube Wallet will become an “entrance” of zkTube access to various Dapps.
Features of zkTube Protocol
Lower cost per user transfer — Transfers between off-chain tokens cost only 300–500 gas, as each aggregate operation equally divides the payment cost of a single block on the encapsulated block from L2 to L1, reduce gas charge. Can provide proof of Merkle tree updating. Also, if the cost of transferring a single chain L1 token is at least ~20,000 gas, we can reduce the gas fee in the form of aggregation.
Throughput and Scalability — Each transaction contains less data, thus improving the throughput and scalability of the second layer. You can directly use L2 class account balance to transfer directly and you don’t need to wait for confirmation at L1 layer. In this process, User is free to use his own balance, But in the end, it is necessary to complete the final certainty at layer L1 through zero verification mechanism.
Ensuring Ethereum Mainnet Level Security — In the zkTube network, a large number of computation and data storage operations are placed in L2 for processing, after which a large number of transactions are aggregated and packaged into the same block, and zero-knowledge proof is generated and sent to L1 for unified verification, which can improve the transaction processing speed of the entire network and ensure security.
ETH brings ecological value — By using zkTube’s underlying protocol, ETHGAS fees are reduced and user transactions in Layer 2 are more frequent than before in Layer 1, solving the problem of congestion ETH. In addition, applications that require high TPS or related functions have been addressed on zkTubeLayer2 this time. The zkTube mainnet is online, and both users and application providers built on the zkTube protocol will provide services that support the underlying protocol, which can enable better migration of applications and contracts. copper to Grade 1. This will be what zkTube desperately needs. The idea is to build an ecosystem based on ETHLayer2.
zkTube recently announced its partnership with Mo Works, a Melbourne-based leading digital solution provider. With a strong community of over 1M members globally, the agency specializes in creating top-notch launch strategies and branding initiatives. With more than eight decades of operational practice, the agency’s reputation precedes itself in supporting prominent blockchain projects.
Bagels Finance — the first cross-chain leveraged liquidity mining protocol based on Ethereum Layer2, BSC and HECO have established a partnership with ZkTube — a Layer 2 protocol using Zero-Knowledge and identity proof mechanism. low fee transaction, fast processing time between ETH and ERC20.
Because the current legal policy of some countries is still unclear, to ensure the healthy and sustainable development of zkTube Protocol, zkTube will only expand its business in countries (Australia, Singapore, Russia, Germany, France, some North American countries, part of South American countries, etc.) are law-abiding and policy-friendly. At the same time, business activities in Mainland China will be suspended and managed by community members.
As cryptocurrencies become more and more widely accepted around the world, different countries need to develop clearer regulatory frameworks. More regulation is a positive sign for the healthy and sustainable development of the industry. Based on the difference in policies and regulations of different countries in the world, zkTube will strive to provide global users with more perfect products, along with safe and reliable service.
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