ZKSwap價格 (ZKS)

What Is ZKSwap (ZKS)?

ZKSwap is a token exchange protocol and a Layer-2 decentralized exchange (DEX) based on ZK-Rollup technology. The protocol is built on the Automated Market Maker (AMM) model, which gives Ethereum users free access to the ZKSwap service. Thus, users can trade ETH and ERC-20 tokens on ZKSwap, plus receive ZKS (management token ZKSwap) through community mining – the maintenance of liquidity and security of the ZKSwap infrastructure.

To learn more about this project, check out our deep dive of ZKSwap.

Holders of ZKS tokens take part in the life of the exchange; they can vote for the listing of tokens, as well as influence the development and modification of the protocol. The scalability and confidentiality of the project is realized due to the ZK-Rollup technology and a set of uniswap functions implemented in Layer-2.

The ZKSwap team launched the testnet back in November 2020, and on Feb. 15, 2021, the mainnet on Ethereum was started. In February 2021, the crypto exchange carried out an airdrop, distributing 80 million $ZKS.

Who Are the Founders of ZKSwap?

As of July 2021, the ZKSwap team remains anonymous. From the available information, ZKSwap is developed by L2Lab and the lead developer of the project is Alex Lee – a specialist with rich experience in zero knowledge proof research and smart contract development.

ZKSwap employs about 20 qualified blockchain developers, many of whom joined the crypto industry in 2013. The team has investors from major Chinese VCs, including Bixin Capital, FBG Capital and Longling Capital.

What Makes ZKSwap (ZKS) Unique?

ZKSwap is an AMM modeled Layer-2 DEX using ZK-Rollups technology – a type of Level-2 scalable solution in the Ethereum network based on zero knowledge proof. Compared to similar solutions, ZK-Rollup highlights a number of advantages: security, cost, transactions per second (TPS) and privacy. The technology reduces the load on the main network by an order of magnitude. This is done by grouping transactions and taking some calculations outside of Ethereum.

ZKSwap is a decentralized project led by the community. The platform benefits are: decentralized, complete control over users’ assets; no authorization requested for transactions, and a highly liquid process while maintaining a stable level of confidentiality; ultra high TPS due to the ZK-Rollup; liquidity providers and users do not have to pay high gas fees.

ZKSwap operates as follows: the protocol is available via the application at zks.app and you need an Ethereum wallet to connect to it. Users trade tokens through Ethereum smart contracts and add assets to the ZKSwap liquidity pool. The ZK-Rollups system bundles and processes user transactions off-chain at Level-2 and then syncs with the main network, eliminating low Ethereum throughput and high fees.

The ZKSwap architecture consists of a front-end user interface (UI), on-chain smart contracts and an off-chain ZKSwap server (includes memory pool, block proposer, state keeper, prover server). The ZKSwap server is the module that handles all off-network transactions.

The technological component is two main developments – Layer-2 server and Plonk zero-knowledge proof system.

Thanks to WebSocket, the ZKSwap server interacts with the platform users and the interface has a transaction tracking function. All approved requests go to the ZKSwap memory pool and are processed by the swap engine. As for the ZKSwap's zero-knowledge proof system, the technology relies on a distribution architecture and side-by-side developments to create evidence, namely the zero-knowledge proof algorithm – Plonk. ZKSwap status tree keeps a record of all account balances in the system.

Related Pages:

Read about Uniswap (UNI).

Learn more about Ethereum (ETH).

How does a Decentralized Exchange (DEX) work? Find out with CMC Alexandria.

What is an Automated Market Maker (AMM)? The answer is here.

How Many ZKSwap (ZKS) Coins Are There in Circulation?

ZKS is an ERC-20 token issued by the ZKSwap project with a maximum supply of 1,000,000,000 tokens. The distribution ratio of ZKS is as follows: 60% to community mining; 15% to the ZKSwap team; 8% to ecosystem developers and ecosystem growth; 6.7% to angel investors; 5.3% to potential A-round investors; 4% to the initial liquidity; 1% to advisors.

ZKS is a major component of the ZKSwap system and can be used in the following scenarios:

Governance. ZKS holders can initiate proposals for updating and improving the protocol. All token holders have the right to vote, so proposals that receive the majority of votes are accepted and the development team takes responsibility for implementation.

Voting/pledge for listing. The platform supports limited trading pairs, except for the pairs set by the ZKSwap team. Holders of ZKS take part in the voting, and furthermore, they have the opportunity to initiate a listing proposal. By gaining a majority of votes, holders can place a coin. Finally, users with a significant amount of ZKS can pledge their tokens for listing.

How Is the ZKSwap Network Secured?

ZKSwap deploys a series of smart contracts on the Ethereum blockchain, which are the key link between Ethereum and the ZKSwap exchange server. They store tokens, update balances and provide a secure environment.

Separately, the liquidity and security of ZKSwap are ensured by the users of the exchange themselves with community mining. Participants in the process receive rewards in ZKS tokens.

Community mining includes: provision of liquidity (Proof-of-Liquidity-Mining or PoL), payment of commissions on the Ethereum network (Proof-of-Gas or PoG), generation of zero-knowledge proofs (Proof-of-ZK-Snarks or PoZK) and trading on ZKSwap (Proof-of-TransFee or PoT).

On top of that, ZKSwap implements ZKS staking (smart contract staking). The Proof-of-Stake (PoS) consensus mechanism is actively involved in this procedure. Through this method, the blockchain confirms transactions and prevents problems. PoS reduces risks of cyber attacks, as the structure deter miners from fraudulent activities.

Where Can You Buy ZKSwap (ZKS)?

The ZKSwap exchange credits ZKS to airdrop and community mining participants. ZKS is also available for trading on major exchanges against other cryptocurrencies, these include: Huobi Global, Gate.io, Uniswap (V2), Poloniex, ProBit and ProBit Global, LBank, BitWell, BitZ, 1inch Exchange, BiKi, CoinTiger, Hotbit, Pionex, Bilaxy, HitBTC, Huobi Indonesia, CoinW, TokenIon, WBF Exchange, MEXC, CoinBene and Jubi.

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