ZKCross and Syscoin Bring ZK-Rollups Under Their Collaboration
ZKCross and Syscoin, according to a blog post published by Syscoin, have joined hands to extend the borders of blockchain technology by introducing ZK-Rollup.
ZK-Rollup is a baby project of ZKCross that combines Layer 2 and multiple roll-up methods to create an effective network that works wonders for users looking to make their way into managing digital assets.
Features like cost-effectiveness and speed come in handy to attract users in large numbers. Additionally, the User Interface is pretty easy to use by everyone, irrespective of their background or experience in the industry.
Jag Sidhu, the Lead Developer & Foundation President at Syscoin, is personally acting as an advisor to ZKCross to build the world’s first cross-chain ZK-Rollup.
The functioning will be done in phases. The first one will see the project run as a Universal AMM or decentralized exchange to manage liquidity and trading across multiple chains by deploying ZK-Rollups in a customized manner.
The objective in the initial phase will be to have a safer and the best alternative to bridge models that exist at the moment.
Models being used seek users to rely on external consensus mechanisms and minting processes which can succumb to failures. ZKCross fixes the vulnerabilities faced by introducing a trustless scenario.
Zero Knowledge is leveraged to avoid external consensus completely. As for funds, they are isolated to only those parties that are actively involved in liquidity mining and swapping. The Zero Knowledge proof used in this case is zkSNARKS.
ZK-Rollup goes beyond the current scope of Amm function by working on Zero Knowledge Virtual Machine, which closely resembles Matter Labs’ zkSync 2.0 and Polygon Hermez.
The blog post congratulated Polygon on its recent breakthrough, Polygon Hermez, saying that these are the types of breakthroughs the industry looks forward to. Syscoin plans to pair its solution to Proof-of-Data Availability innovation to anchor off-chain data to Layer 1 security through validity proofs.
Coming times will experience innovations at another level. The platform is researching KYC based on Zero-Knowledge to provide the ecosystem with regulatory compliance to continue on the line of Syscoin.
Moreover, Syscoin is exploring another side of Zero Knowledge related to hardware. It is currently in the initial phase, but it has already shown tons of potential that is enough for opportunity seekers to get started.
ZKCross is working to create cross-chain infrastructure by using its cutting-edge technologies. ZKCross is enabling the DeFi ecosystem to develop cross-chain applications that require efficiency, security, and scalability at a higher level.
Syscoin was founded in 2014 as a decentralized and open-source project. Its NEVM blockchain combines Ethereum and Bitcoin’s best aspects to strengthen a single coordinated modular platform.
Syscoin is moving ahead in the industry by providing the proven technology of Bitcoin and Turing-complete programmability of Ethereum to true scalability through ZK-Rollups, Optimistic, and other layer 2 technologies.
