Updates of Zecrey, a ZK-Rollup Based Protocol
In the past few years, the crypto space has witnessed tremendous growth in terms of many DeFi protocols and NFT platforms making their debuts. Meanwhile, the widespread adoption of cryptocurrencies has yielded a greater pace of innovations.
At the same time, higher transaction volumes on networks like Ethereum have uncovered some severe issues concerning the privacy of the protocol. As in the transactions, security matters a lot, a majority of decentralized and secure smart contract networks take more time and costs higher to proceed with the transactions securely.
To overcome this problem, we needed the zk (zero knowledge) layer-2 rollups to solve the scalability issues with Layer 1s.
Keeping this in mind, we’re excited to launch Zecrey, a zk-rollup-based layer 2 protocol that enables privacy and scalability in transactions on multiple blockchains. Zecrey offers cheaper and faster transactions than the main network.
With Zecrey, we aim to transform the crypto space by lowering the entry barriers to the network and enabling DApps to scale faster with greater security and privacy protection. We aim to achieve this using the cutting-edge ZK-rollup technology to scale layer 1 and provide end-to-end and user-friendly products.
We’ve been building this protocol for months now and getting to this point has been quite an adventure for us. We had to design a lot of new technology to push this idea forward and bring it to the world.
Let’s delve deeper into what we’ve achieved so far and what we’re planning to offer within Zecrey!
Zecrey — An Asset Oriented Solution
Zecrey’s Layer 2s are asset-oriented solutions, mainly focusing on –
- Fungible tokens — e.g. ERC20
- Non-fungible tokens — e.g. ERC721 and ERC1155
At Zecrey, we want to meet the fundamental demands of the market including private payment transfer, private swap transactions, and fast and reliable trading experience through an efficient NFT marketplace.
From the perspective of products, Zecrey provides a user-friendly wallet containing L1s and Zecrey native L2. There are two different types of Layer 2 systems embedded into our wallet:
- Zecrey Zero
- Zecrey Legend
These are also the core features of Zecrey that set it apart from other zk rollup-based layer 2 protocols. Zecrey Zero mainly focuses on bringing in the privacy features whereas Zecrey Legend focuses on NFT issuance and the NFT marketplace.
Let’s discuss them in detail!
Zecrey Zero is one of our core products enabling key privacy features where users can conduct private transfers and swap transactions stress-free. The privacy features are mainly related to the transaction amount which will be concealed by the protocol ensuring that only the user knows about it.
Our goal is to make privacy a no-brainer. That’s why we have designed Zecrey Zero, a lightweight, privacy-driven, and portable payment solution. It helps us provide our users fully private access to their transactions at a dramatically lower cost than mainnet. To understand how we’ll make privacy affordable for everyone, let’s dig deeper into the key features of Zecrey Zero –
Privacy by Default
All transactions are private on Zero by default. Zero conceals each transaction amount to protect your privacy.
No need to take several seconds to provide privacy features. Millisecond-level privacy transaction experience is facilitated by Zero.
Privacy catalyzes broad adoption of DeFi. Zecrey Zero enables privacy features, driving broad adoption in more financial scenarios.
In Math We Trust
Zero utilizes cutting-edge Sigma and zk-Snark technology to enable secure, fast, and cheap transactions with privacy protection.
Zecrey Legend is the first zk-rollup layer two (L2) scaling solution on the BNB chain and NFT engine of Web3 games. It helps us offer instant trading, massive scalability, and low gas fees for minting and trading on our NFT marketplace without compromising the user or asset security.
As the strategic partner of Binance Labs and the BNB chain, Zecrey team has created this most technologically advanced scaling solution for the NFT marketplace with a consistent high-quality design and solid cryptographic scheme. Zecrey team also contributed a lot to the official zk-rollup solution called zkBNB on the BNB Chain, and dedicated across all fronts and honored to be part of this/ make this happen.
Refer to: https://github.com/bnb-chain/zkbnb
Zecrey Legend supports NFT Minting, NFT Transfer, NFT Auction, and NFT Withdraw for NFT buyers and artists. With Zecrey Legend, users can operate secured NFT transactions with faster speed and in low gas (nearly zero gas) in the layer 2 network and withdraw the layer 2 NFT to any supported layer 1 network. Not just that, NFT artists can also set various royalties to reward their creative genius.
Here are more features that Zecrey legend offers –
NFT Engine for Web 3 Games
Legend is a Layer 2 protocol built for NFT, especially for Web 3 Games.
Highly Scalable NFT Platform
Legend is the first zk Rollup-based NFT Marketplace on BNB Chain. Fully customized by Zecrey team, enabling thousands of TPS.
Secure, Instant, and Reliable
Security is rooted in underlying L1, the same security level as BNB Chain. Faster transaction confirmation and higher transaction reliability.
Designed for Developers
Simple and easy to use API/SDK helping developers integrate NFT into their own system in minutes.
The Plan Ahead
Enabling privacy and scalability in transactions is just the tip of the iceberg. The most important goal for us is to launch a fully programmed NFT marketplace to provide our users with a fast and secure trading experience they can rely on.
The end goal is to bring scalability, accessibility and security to all web3 users by providing a zk-Rollup infrastructure to bridge multi-chain and multi layer 2 networks with easy to use products.
Ahead of our developments, we’ll soon launch an article outlining our roadmap in detail. Stay tuned for more details!
Follow us here –
Official Website: https://www.zecrey.com/
Telegram Announcement: https://t.me/zecreyannouncement