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ZKFair is set to release a zero-knowledge (ZK) community-driven layer-2 network, according to a press release shared exclusively with crypto.news.
The layer-2 platform launched its testnet in early December and plans to deploy on the mainnet on Dec. 20.
Moreover, ZKFair will also distribute 100% of its tokens to the community through a fair airdrop. This approach ensures everyone has an equal opportunity to participate in the network’s growth and development. Through this model, the community can redefine the future of ZK, where every voice matters and innovation flourishes.
The decision to launch ZKFair is to address existing issues. Though ZK technology can be an option for solving scalability issues facing Ethereum, it is plagued by several challenges, including a lack of community ownership, excessive valuation, and dominance by venture capitalists (VCs).
Due to high valuations and a lack of differentiation, it has led to user disengagement and manipulation. This is because many projects prioritize maximizing transaction fees rather than user experience.
ZKFair is taking a different route and will overly depend on the community, not VCs, for growth, fairness, and innovation. The layer-2 will also allow members to vote on proposals. 11 governance members will be elected in the early stages, ensuring that every voice is heard and valued. Contributors will also be rewarded.
ZKFair will use USDC as the gas token to meet its objectives and provide users with a stable and transparent fee structure. Additionally, their solution will be anchored on Polygon CDK and Celestia DA for enhanced scalability.
The platform will use atomic cross-rollup communication for seamless interaction with Ethereum dapps. ZKFair will use the Lumoz decentralized prover network for computation efficiency and increased reliability.
Later, the platform also aims to integrate with the Bitcoin ecosystem, potentially becoming a layer-2 solution for the world’s most valuable network.
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