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In 2021, as the market demand for crypto derivatives increases, DeFi's disadvantages as a decentralized financial derivatives system for crypto assets are also highlighted. Due to the problems of network congestion, high fees, and poor scalability in Ethereum, more and more people are looking for more transparent and efficient storage solutions.
zkTube is a project that has been built and developed on Layer 2 with the use of ZK-Rollup technology and the PLONK principle. It can improve scalability via the transfer of batch transmission to single transactions.
This is a trustless protocol for the scaling solution of Ethereum, powered by ZK-Rollup technology. It utilizes Zero-Knowledge proof to offer solutions to the problems and issues of scaling, data availability, privacy for Ethereum, and all data is synchronized and stored on the mainnet. zkTube is poised to become the best Layer 2 environment for payments with no more than 0.01 cents per transaction, and TPS up to 3000+. It offers great value for people. Soon, it will be a point for financial institutions to move to Ethereum, to provide a more friendly payment system worldwide.
To build a good sustainable blockchain ecosystem, we need to do something in the architecture to balance the need for security, decentralization, and scalability. zkTube processes data in a way that reduces the burden on the main chain. By transferring part of the data processing of the main chain to Layer 2, it builds a Layer 2 infrastructure in terms of scalability, computing, and storage, which integrates the high security of the main chain and enhances the performance requirements of the entire network.
Since the launch of zkTube, we have achieved good results on Layer 2:
2021-03-24, Uniswap, a decentralized cryptocurrency exchange, announces its V3 (launched on the mainnet on May 6). The zkTube technical team was also involved in the development of Uniswap V3 and was Granted the Uniswap V3 Hackathon.
2021-04.08 16:00 AEST (GMT + 10), zkTube has been awarded a public donation and project referral from the Ethereum Foundation.
Additionally, it has been recognised by users and developers from different countries around the world, such as Australia, China, France, Arabia, Vietnam, and India to name a few. Following that, users from other countries have also spontaneously formed communities to promote the operation of the zkTube Protocol.
Moreover, Paytube Wallet is the first decentralized Dapp building on zkTube Protocol. It's a low fee and real-time global payment. Over 40 stable cryptocurrencies, including USDT, USDC, TUSD, GUSD are supported. Users can select L1 or L2 to connect to Dapps such as Defi, NFT, DEX, etc.
Ultimately, we strongly believe that zkTube will encourage financial institutions to move to Ethereum, for a more friendly payment system real soon.
About zkTube
zkTube is a Layer 2 protocol based on ZK Rollup (Layer 2 expansion solution using zero-knowledge proof). For token transactions under the ERC20/ERC721 protocol, it can greatly reduce transaction costs while achieving 200 times higher than Layer 1 Throughput, TPS is as high as 3000+, zkTube will be a satisfactory solution for application scenarios that have higher requirements in terms of the transaction receipt, timeliness, and high-throughput Dapp.
About Ian Yun
is an outgoing and hands-on enthusiast with 8 years of working experience in Public Relations and Marketing/Corporate Affairs. Ian strives to deliver exceptional performance, bridging connections between the consumer and the organisation. His degree in Public Relations from the University of South Australia provided him with the leverage in implementing communication plans, participating in-network and industry events creating brand awareness. He actively maintains relationships, working collaboratively with internal teams, stakeholders and agencies. Holding a permanent residency in Australia, he is currently managing PR and Community for Mo Works Creative Agency based in Docklands, Melbourne.
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