ZKFair (ZKF) is present as an innovative Layer 2 solution, with a focus on total decentralization and maximum community involvement. ZKFair started its testnet and mainnet operations in December 2023, followed by a fully fair token distribution event. As early as January 2024, even though it is still new to operations, ZKFair has already attracted the attention of many industry observers and decentralization enthusiasts. In this article, we will dig deeper into what ZKFair is, how the ZKF token plays an important role in it, and why this project is so unique in the crypto world. Let's take a look!
Highlights:
- Z KFair (ZKF) is a revolutionary Layer 2 solution with a focus on maximum decentralization and community engagement.
- The platform completed its token distribution on January 11, 2024. All tokens are distributed fairly to users, without any special distribution to investors, teams, or other distribution schemes that usually favor some parties.
- ZKF is the native token in the ZKFair ecosystem. As of January 15 2024, MOBILE was ranked 2278th with a market cap of IDR 3.63 trillion and daily trading volume of IDR 514.5 billion, based on data from the Coinmarketcap site.
What is ZKFair (ZKF)
ZKFair (ZKF) is a unique crypto project, designed to integrate blockchain technology with the principles of fairness and privacy using the advanced concept of Zero-Knowledge Proofs.
The essence of ZKFair is to create a crypto trading and transaction platform that is not only safe and efficient but also guarantees fairness and transparency for all its users. The main goal is to increase security and privacy in crypto transactions, reducing the risk of data leaks and cyber attacks.
By focusing on fair transactions, ZKFair seeks to eliminate information imbalances and the potential for manipulation, creating a more open and balanced trading environment. Through the ZKF token, this project also provides users with the opportunity to actively participate in ecosystem development, including in the decision-making process.
In doing so, ZKFair not only drives innovation in the blockchain and crypto industry but also marks an important step forward in creating a fairer, more transparent and efficient transaction system, changing the way we interact with the crypto world.
How it Works and Features
ZKFair is a platform created using the Polygon Chain Development Kit (CDK). This CDK is a system that makes it easy to create ZK-proof Layer 2 , which is a sophisticated way to keep transactions secure and private.
ZKFair also utilizes the Celestia layer to ensure the authenticity of transaction data on its platform is maintained. One of the advantages of ZKFair, as with other Layer 2 solutions, is its ability to save costs and increase scalability, especially when compared to direct transactions on Ethereum.
ZK PoW Prover architecture
Many Layer 2 platforms have advantages in terms of cost and speed, but often a critical part of their processing system, namely the prover, is controlled by certain parties on the network. Prover is the component tasked with creating ZK evidence.
Typically, these provers are centralized, which has been a source of criticism because it can lead to too much power being concentrated at one point and the risk of network failure if one node experiences problems.
To overcome this problem, ZKFair plans to deploy a prover network that operates on a proof-of-work (PoW) basis .
The system is built on Lumoz, which is a ZK-rollup platform as a service. The ZKFair team has announced that they will be implementing this decentralized prover network shortly after they launch their mainnet, which happens on December 20, 2023.
Tokenomics and Use of Tokens
ZKF is the native token of ZKFair. Its main function is for staking and governance. By staking ZKF, you can get rewards in the form of voZKF, a token that gives you the right to participate in governance on the platform. voZKF holders can vote on ZKFair's future direction and key changes, as well as details on revenue sharing rights.
ZKF is a token with a maximum supply limit of 10 billion. Almost the entire amount of its total token supply (98.7%) has been fairly distributed via airdrop between late December 2023 and early January 2024.
Conclusion
ZKFair (ZKF) is a crypto project that integrates blockchain technology with the principles of fairness and privacy using Zero-Knowledge Proofs, aiming to create a safe, efficient, fair and transparent trading platform. Using the Polygon Chain Development Kit to create ZK-proof Layer 2, ZKFair increases transaction security and efficiency.
ZKF tokens, the main focus of the project, are used for staking and governance, with the majority of the token supply distributed via airdrop in late 2023 to early 2024.
How to Buy ZKF Tokens on Bittime
After reading a complete review of what ZKFair is, are you interested in buying and investing in this crypto project? You can buy ZKF tokens on the best crypto trading platforms in Indonesia, one of which is Bittime. ZKF is available on Bittime in ZKF IDR pairing .
To be able to buy ZKF tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance to buy ZKF tokens. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can make ZKF/IDR purchases in the application.
Monitor today's price chart movements of ZKFair (ZKF), Bitcoin, Ethereum, Solana and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read: More Complete Guide on How to Buy ZKF on Bittime
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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