zkTube — Review

Before there was a major overhaul in the history of the cryptocurrency world, we were familiar with the blockchain system in ethereum using 1.0, and it turned out that it was very appealing for developers to build new applications and develop them under the ethereum 1.0 system, which was based on consensus and security, making the applications that use the system strong in terms of security.

However, as technology advances in the blockchain system as a whole, numerous concerns arise in the Ethereum 1.0 system, with excessive latency and high GAS prices being the most significant impediment to its expansion.

While the implementation of Eth2.0 is still taking many years, and the fundamental scalability enhancements of Ethereum have yet to be proven, a Layer2 capacity augmentation plan has been presented at an appropriate moment.

By shifting part of the workloads in the network system to another network, layer2 hopes to swiftly achieve people’s expectations for low fees on the Ethereum system, as well as extremely fast delivery without very long waits, and a nice user experience.

Layer 2

According to predictions, the zkTube protocol established a testnet on April 27, and the system is currently operational. Meanwhile, the technical team continues to optimize different data and functions, fix various problems after testing, and update the current version to improve the stability and performance of other systems. To provide a Layer 2 extension option for the Ethereum network, the project primarily employs ZK-Rollup + Plunk.

At the moment, the circulation of ETH at Layers 1 and 2 is complete. It contains features such as Deposit, Transfer, and Withdraw. Furthermore, the team will focus on improving system stability and user experience, and features such as faucets, native tokens, and mainstream ERC20 compatibility will be introduced in the near future.

ZkTube Protocol

ZkTube is a Layer 2 protocol that is built on K Rollup (a Layer 2 capacity expansion scheme with zero-knowledge proof). Of course, in terms of token trading via the ERC20/ERC721 protocol, this system is projected to significantly cut transaction costs and reach throughput 200 times that of Layer 1, with a TPS of up to 3000+.

ZkTube will be a suitable option for application situations requiring increased transaction delivery, timeliness, and large throughput Dapps. zkTube, being one of the most popular Layer 2 scaling methods, initially drew interest from all sides.

Currently, over 13,000 early adopters from across the world have joined in the zkTube testnet to try out the Deposit function and other features.

SOLUTIONS

The technical team, as well as the participants following the testnet, have achieved considerable progress in research during the cross-rollup program after several months of exploration by the team.

Because in-app data can be realized in circulation across cross-rollups, such as cross-rollup dex, cross-rollup NFT application scenarios, etc., ZkTube employs intermediary conversion media to enable smart contracts in one rollup to communicate with smart contracts in another rollup. In addition to the innovation idea, the technical team will perform more tests and continue to showcase cross-rollup solutions.

Features

01. Transactions are completed faster

Because everything requires a process to function, the zkTube protocol may be moved from L1 to L2 in phases. As a result, all assets may be transported efficiently in L2 and L2, allowing all networks to run quicker and at a reduced cost.

02. High level of security

All users are guaranteed a high degree of security, ensuring that their assets are always under the user’s own control, making everything more visible and requiring no intervention from anybody.

03. Extremely scalable

zkTube allows extremely scalable decentralized payments by processing thousands of requests off-chain at speeds of up to VISA 3000+ TPS. Transfer costs are only in US cents, but the security level is the same as Ethereum’s mainnet.

Future Upgrades

In the long run, the zkTube protocol will enable a wide range of ERC721 and Web 3.0 apps, as well as provide a wallet as an access point to enterprise-scale decentralized situations.

Because of this focus and favorable development environment, more developers and users will be able to utilize the zkTube protocol for research, increasing the zkTube ecosystem. Aside from deploying the mainnet soon, the zkTube Labs team will also release PayTube Wallet, the first decentralized super wallet built on the zkTube protocol.

The wallet enables users to execute ERC20 token transactions and transfers, resulting in efficient, seamless, low-cost user service and a high-quality experience. Superior features: the first phase has already achieved TPS 3000+, and the transfer cost is just in US cents, yet the security level is the same as on the Ethereum mainnet.

Based on this, the zkTube Labs team is developing a newer extension option to increase TPS. The team is now attempting to coordinate all provers in order to increase the processing speed of all provers per second and decrease the proof time as much as feasible.

According to zkTube Labs’ first calculations, this method can generate a stunning TPS of 20,000+. With the introduction of the zkTube mainnet and PayTube wallet, it is possible that the ETH Layer 2 ecosystem around zkTube will grow more mature, with tremendous possibilities for future development.

Token Distribution

Total Supply: 330,000,000 ZKT

Community Mining 89.4%

295,020,000 ZKT, mined by the community.

zkTube Foundation 5%

16,500,000 ZKT, no release, only for emergency treatment, market value management and voting use, the proceeds will be destroyed according to the destruction mechanism.

Founding Team 0.4%

A total of 1,320,000ZKT will be locked for one year from the mainnet launch and distributed four times a year from the second year. The distribution will be completed in a total of five years.

Community Operation 0.75%

A total of 2,475,000ZKT will be locked for one year from the mainnet launch and distributed four times a year from the second year. The distribution will be completed in a total of five years.

zkTube Node 3.85%

A total of 12,705,000ZKT is used for node construction and maintenance.

Investors 0.6%

Total 1,980,000 ZKT.

Partners

Roadmap

More Info

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Author

BTT Username: Cryptolakshi
BTT Profile: https://bitcointalk.org/index.php?action=profile;u=2813018
ETH Address: 0xA2f3dEE310133fec376F2061B6BBf2BC9FD8e9D1

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Review ICO, IEO, Exchange Contact Info: cryptoarindu@gmail.com

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