ZKSwap Tech Review: SKALE — An Elastic, Decentralized Sidechain Network.
Singapore-based ZKSwap (ZKS) is a pioneering decentralized exchange with the option of seamless token transfer between Ethereum’s Layer 1 and Layer 2. This unparalleled opportunity is possible due to zk-rollups, a cutting edge Ethereum (ETH) scaling practice that rolls up multiple transactions into a single one and broadcasts them to Ethereum’s (ETH) mainnet, saving on gas and bandwidth. In early Q3, 2021, ZKSwap (ZKS) unveiled the second iteration of its technical whitepaper. It covers plenty of new functions added in ZKSwap (ZKS) v2 and provides a detailed explanation of all available instruments. First of all, the new whitepaper introduces different types of tokens involved in ZKSwap v2 (ZKS) design: fee tokens, user tokens and liquidity providers’ tokens (LP tokens). Fee tokens can be added by the “Governor,” a team’s smart-contract-based instrument that allows them to introduce crucial changes to the protocol. Ethers (ETH), Wrapped Bitcoins (WBTC), U.S. Dollar Tethers (USDT) and ZKS, core native assets of ZKSwap v2, are utilized as fee tokens as of Q3, 2021. Fee tokens should be considered an internal payment method in ZKSwap v2: users can designate one of them as the preferred fee token. The user token is essential for a brand-new function, “Unlimited Token Listing.” Every user can deploy his own ERC-20 token to ZKSwap v2. The listing procedure is user-friendly and charges a reasonable flat fee. Fees collected from transfers, withdrawals and liquidity operations are sent to the validator, while fees from swap operations are partially distributed between liquidity providers - just like on SushiSwap (SUSHI) and Uniswap (UNI) on-chain DEXes. Finally, ZKSwap (ZKS) indicated a number of new use cases for its updated structure, including an AMM-powered NFT protocol on Ethereum’s second-layer platforms. This combination of the DeFi and NFT concepts will open up a new avenue for innovative business schemes on Ethereum (ETH) and related blockchains.
A current ZKS price is $0.593765. According to this ZKSwap analysis , today the investment has a 3.7 out of 10 safety rank and +434.9% expected profit with the price going to $3.18. The dominant ranking factor for this cryptocurrency is User Voting.
To calculate the potential profit that can be received from the ZKSwap investment in 2021 the system has analyzed the daily rates of the coin for the past 6 months. The nature of coins is undulatory, which means that there is a high possibility that ZKS can reach near to an all-time value again in the future. You can use this ZKSwap review to check if it is worth it to invest in this asset and how trusted or risky this investment could be. Today the analysis tool has graded ZKS on the position number 463 out of 4138 cryptocurrencies by the safety rank.
Any transaction on ZKSwap Layer 2 network can be completed quickly without consuming any gas fee, which greatly reduces user usage cost. Theoretical TPS is up to 10,000+, achieving real-time exchange without waiting. Enjoy smooth trading on the platform. Users fully own their own assets, and transactions do not require authorization which protects user privacy and account security. Users can add any token and create trading pairs on their own with a set fee; and we will support 0 gas fee airdrops and offer a seamless trading experience with an instant payment feature. Based on ZK-Rollups, the TPS can be increased by multiple orders of magnitude. While users enjoy a smooth transaction experience, their assets are autonomously controllable and safe. ZKSwap will deploy a series of smart contracts on the Ethereum blockchain to store the tokens deposited by users while recording and verifying Layer 2 status updates and related proof.