↗ A Dive into the ZK Coin Universe: Tremendous Strides Amid Puzzling Complexities

The ZK Identity Project Holonym recently purchased Gitcoin Passport for $10M. The discussion on ZK rollups integration with Bitcoin is ongoing, considering the complexities involved. This move to ZK Proofs is being seen in multiple projects, from Buenos Aires incorporating them into their city app to improve citizen privacy, to BitcoinOS partnering with Merlin Chain for their Bitcoin bridge.

There are, however, concerns over ZK Proofs being adopted for decentralized IDs due to their complexity. Still, advancements continue with Ethereum based Domain Protocol ENS actively seeking their Layer 2, possibly with ZK Rollups and the Bank of England considering ZK-Proofs for enhanced privacy on their digital pound.

ZKSync made major strides, including allocating $60M in ZK tokens through its Ignite program, seeing a boost in Total Value Locked (TVL), and releasing the roadmap with targets of 10K TPS and sub-zero fees by 2025. A potential red flag though has been the observed decline in network activity and TVL lows.

Excitement builds in anticipation of ZKSync’ ZK Airdrop, with about 695k wallets being eligible and not forgetting the airdrop by PancakeSwap rewarding users with 2.4M ZK tokens. However, a cautionary note arises from data that shows 41% of top ZK airdrop wallets have already sold everything.

Start-up ZEROBASE raised $5M to construct a privacy-preserving prover network while Pi Squared secured $12.5M to build a Universal ZK Circuit. On another note, Matter Labs stirred some controversy by filing for the 'ZK' trademark, prompting industry withdrawal demands.

Moreover, network load issues and RPC problems have marked the launch of the zkSync token, despite the excitement in the community about the event.

ZK Coin News Analytics from Sat, 30 Mar 2024 07:00:00 GMT to Mon, 10 Feb 2025 15:04:25 GMT - Rating 2 - Innovation 6 - Information 6 - Rumor -1