Bittime – The upcoming Zero Knowledge Proof Verification (ZKPV) blockchain is a significant advancement for the Horizen ecosystem. Horizen Labs will oversee development and cover costs for the project, which aims to create a decentralized ecosystem with deep community involvement. There is a promising opportunity for $ZEN to migrate alongside EON to form the core of this new ZKPV blockchain.
Also read: What is Zero Knowledge Proofs (ZKP)?
Key Developments and Opportunities
-
ZKPV Blockchain Development
Horizen Labs is committed to accelerating development of the ZKPV blockchain, targeting a mainnet launch by the end of 2024. The initiative was driven by feedback from $ZEN holders, which highlighted the urgent need for a market-ready solution to an industry problem. -
Role of $ZEN
$ZEN will play an important role in the new system, by maintaining its tokenomics with a maximum supply of 21 million. The Horizen community and DAO are encouraged to support the launch and progress of the ZKPV blockchain, making them eligible for allocation in the new token ecosystem. -
Community Involvement
Active participation of the Horizen community is vital to the success of the ZKPV ecosystem. The community has extensive experience with zero-knowledge proofs, from zk-SNARKs for private payments to zk-rollups for Ethereum. This expertise positions them to make a significant contribution to the new ZKPV environment. -
Ecosystem and New Token
Feedback suggests that a new token specific to the ZKPV blockchain is preferable to using $ZEN as the native token. This approach aims to maintain the regulatory status and fair launch posture of $ZEN. The Horizen community has the opportunity to guide the foundation in establishing an agreement with the ZKPV ecosystem, ensuring a smooth migration of EON and $ZEN. -
Benefits to the Community
By collaborating with the Horizen community, the ZKPV ecosystem can tap into an enthusiastic and knowledgeable group that believes in the transformational power of ZK evidence. Additionally, the costs of developing and launching the ZKPV blockchain will not be borne by the Horizen community. -
Future Steps
Horizen Labs will manage development costs and continue to support the Horizen ecosystem. The community should focus on future steps for $ZEN without being burdened by ZKPV's decision. Horizen Labs has no further obligations to Horizen DAO regarding the ZenIP 42400, having covered all associated costs to date.
Conclusion
The Horizen community has a significant opportunity to influence and benefit from the new Zero Knowledge Proof Verification ecosystem. One potential path is a migration of $ZEN to a new version of EON, which is integrated with the ZKPV blockchain. Horizen Labs looks forward to the community's decision on this migration and will continue to support the ecosystem as a leading service provider.
Check Today's Crypto Market:
How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Also:
Exploring Horizen (ZEN): A Comprehensive Overview
What is EOS (EOS)? Blockchain Platform for High Scalability of DApps
10 Best AI Tokens That Surge in the Last 24 Hours
The Best Crypto Gaming Tokens That Exploded in the Last 24 Hours
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.
Comments
0 comments
Please sign in to leave a comment.