Recap of AMA in BNB Chain Community
On 4th, April, BNB Chain Community held an AMA event for Zecrey Protocol. And Jerry from Zecrey Team joined BNB Chain Community and answered questions proposed by BNB Chain team and below is the recap of the AMA.
AMA Section
1. Can you give us a brief introduction to the Zecrey Protocol for those who are new here?
Zecrey protocol is a crosschain aggregation privacy platform with an easy to use interface that acts a bit like an all in one wallet. It works on both layer 1 and layer 2 of the blockchain network based on zkrollup. We have a full team of over 20 people working on the project with engineers who has experience working for google and advisory teams who use to work for Goldman Sachs.
2. What is the driving force behind the creation of Zecrey? What is it trying to accomplish?
With a growing array of layer 1 blockchains and different blockchain apps, we are starting to see this issue of an island syndrome. Where each network and app are becoming more isolated from the overall blockchain sector. You need multiple wallets and addresses to be able to use different assets from difference blockchains and apps and it really detracts from the user experience.
Not to mention virtually all transactions can be publicly searched and we can all see which address has conducted what transactions so some serious privacy issues are starting to emerge.
BNB Chain is doing great with their network with its high level of scalability and ease of use which is probably why it has 15 million daily transactions compared to other networks which has around 1 million. Zecrey wants to complement that and give people the option to view all of their digital assets from all commonly used blockchain networks in one place so that even though a lot of the apps you use on a daily basis might be on one chain eg BNB Chain, but you might have some favourite apps that is on a different chain (eg Stepn on the Solana network).
On top of that, by utilising the zero knowledge proof protocol (Zkrollup) we want to help protect people’s privacy because just like how your bank transactions are not public knowledge, we believe that your digital transactions should be private as well. In a nutshell, we want to make interacting with your digital assets as convenient as possible while protecting your privacy. In a nutshell, crosschain support and integrating privacy into your blockchain transactions.
3. Since we are dealing with people’s digital assets, trust and security are probably at the forefront of most people’s minds. Why is it that we can trust Zecrey with that?
First and foremost, our project’s code is reviewed by established auditing companies (SlowMist and Certik). Secondly, Zecrey is based on zkrollup which is a widely recognised and established layer 2 scaling and privacy protocol that is proven to be safe and fast. Your digital asset’s security from layer 1 is rooted in layer 1 as we do not take ownership of your digital assets even if you deposit into our layer 2 network. The essence of zkrollup is we will build users’ transactions offchain and finally post it to L1 along with the valid proofs.
4. There are a lot of wallets and layer 2 platforms floating around. What makes Zecrey so special?
Indeed, most of the features that Zecrey has such as multichain wallet functionality, DEX swap, NFT support, privacy, gamefi and socialfi integration, and social login may exist in other apps in isolation. What Zecrey does is integrating all of these features in a way that makes sense in one place with an easy to use interface
5. In terms of multichain support, what exactly does Zecrey support right now?
With the release of our Layer 1 mainnet last month, we currently support asset management from EVM chains such as BNB, Ethereum, Polygon, Avalanche, Aurora, Cronos, as well as non-EVM chains such as Near. As for NFT, we current support interaction and management for NFTs minted by Zecrey, but in the near future we will extend the function to include any NFT collection that is on the blockchains that we support. We are also working on adding support for more blockchains for both EVN and non-EVN networks so stay tuned for that.
We release our Layer 1 mainnet last month, and in terms of multichain support, first we support asset management across different chains, including EVM Chains, such as BNB Chain, Ethereum, Polygon, Avalanche, Aurora, Cronos ; and non-EVM chain — Near. Besides, we also support NFT collections management. Right now we only support the NFTs issued by Zecrey tea, and soon we will extend the functions to any NFT collections under the address across different chains.
6. Recently there has been a shift of focus for projects towards creating a more user friendly experience. Has Zecrey done anything in that regards?
Creating a user friendly experience is a major driving force for Zecrey. It has not been easy for the road of mass adoption on cryptocurrecy and part of it is due to the complexity surrounding it. You have the wallet creation process, deciding on which blockchain to use for a single token, and figuring out which apps to use for holding your NFTs and digital assets. This can be a big turnoff for new users, especially in an emerging technology like the blockchain.
That is why Zecrey has aggregated functions that everyday users will use on a regularly basis and put them in one place in an easy to use interface. You can easily view your digital assets in a single wallet, conduct swaps between different tokens, store and interact with NFTs, providing liquidity staking for ROIs, etc in one easy to use product while knowing that your privacy is also being looked after.
7. What is the latest updates for Zecrey? Anything in particular that you would like to share with the community?
We recently launched the official mainnet for the layer 1 part of Zecrey so that is good to go. Our layer 2 network is right around the corner as we are rigorously testing the network for bugs and implementing adjustments to the interface thanks to feedback from the testnet community.
8. With the launch of the first half of the mainnet, what else do you have in the pipeline?
Our NFT interface currently supports the NFTs created by Zecrey, but we will support other NFTs in the near future. We are also collaborating with other game and social related projects so users have a portal to access their favourite blockchain apps from the Zecrey wallet. Also to keep in the spirit of our crosschain support, we are adding additional support for the non EVM chains as well. The next major milestone is that we will launch our Layer 2 mainnet in Q2, which facilitates privacy and additional crosschain features.
Quiz Section
- Which community is hosting this AMA with Zecrey right now? (Ans: BNB Chain Community)
- What is the two main driving force behind the creation of Zecrey? (Ans: Privacy and creating Crosschain support)
- What is the underlying technology that Zecrey uses in layer 2? (Ans: zkrollup)
- What is the name of the companies that did the auditing job for Zecrey? (Certik and SlowMist)
- Is Zecrey for layer 1 or layer 2 of the blockchain? (Ans: Both)
- Does Zecrey support the BNB Chain network right now? (Ans: Yes)
- Which part of Zecrey has officially launched its mainnet, layer 1 or layer 2? (Ans: Layer 1)
Learn More
Official website: https://www.zecrey.com/
Twitter: https://twitter.com/zecreyprotocol
Telegram: https://t.me/zecrey
Discord: https://discord.com/invite/U98ghQsJE5
Medium: https://zecrey.medium.com/
Technical Whitepaper: https://docsend.com/view/ntcsmt7meu84gcqk
