As the Eth2.0 implementation still needs several years to complete and its improvement over Ethereum’s underlying scalability is yet to be tested, the Layer2 capacity scaling scheme has been proposed at the right time point. By moving some of the on-chain workload to off-chain, there is an opportunity to quickly realize people’s expectations for Ethereum’s low fees, high throughput, and good user experience. The zkTube Layer 2 protocol has just been introduced into the platform.
What is zkTube?
ZkTube is a Layer 2 protocol based on K Rollup (Layer 2 capacity expansion scheme with the zero-knowledge proof). In terms of token trading under the ERC20/ERC721 protocol, it can greatly reduce the transaction cost, and achieve the throughput 200 times than that of Layer1, with the TPS of up to 3000+. ZkTube will become a satisfactory solution for application scenarios with higher requirements on the transaction delivery, timeliness, and high-throughput Dapp.
A web 3.0 wallet of the zKTube protocol designed to be an interoperability wallet. PayTube will support the buying and selling of over 40 stable coins such as usdt, usdc, dai, etc and other erc20 compatible token ad WBTC,ETH and. more. PayTube also allows you purchase crypto directly through a third party payment like fiat.
Ecological planning of zkTube
An open source payment network
PayTube Wallet is an open source payment wallet developed based on the zkTube protocol for all users. We can provide an easy-to-use and low-cost Layer2 payment environment for users by virtue of our cross-platform mobile wallet, PayTube Wallet.
It is a Web 3.0 Dapp — PayTube Wallet based on the zkTube protocol, and realizes the interaction with DeFi, NFT and other fields. PayTube Wallet will become an “entrance” of zkTube access to various Dapp applications.
Since the launch of zkTube, we have achieved good results on Layer 2
2021–03–24, Uniswap, a decentralized cryptocurrency exchange, announces its V3 (launched on the mainnet on May 6). The zkTube technical team was also involved in the development of Uniswap V3 and was Granted the Uniswap V3 Hackathon.
2021–04.08 16:00 AEST (GMT + 10), zkTube has been awarded a public donation and project referral from the Ethereum Foundation.
Additionally, it has been recognised by users and developers from different countries around the world, such as Australia, China, France, Arabia, Vietnam, and India to name a few. Following that, users from other countries have also spontaneously formed communities to promote the operation of the zkTube Protocol.
Moreover, Paytube Wallet is the first decentralized Dapp building on zkTube Protocol. It’s a low fee and real-time global payment. Over 40 stable cryptocurrencies, including USDT, USDC, TUSD, GUSD are supported. Users can select L1 or L2 to connect to Dapps such as Defi, NFT, DEX, etc.
Ultimately, we strongly believe that zkTube will encourage financial institutions to move to Ethereum, for a more friendly payment system real soon.
In the long term, the zkTube protocol supports a wide range of applications built on ERC721 and Web 3.0, as well as providing a wallet as an entry point to enterprise-scale decentralized scenarios. This concentration and friendly development environment will enable more developers and users to use the zkTube protocol for research, thus enriching the zkTube ecosystem. Other than launching the mainnet very shortly, the zkTube Labs team will also launch PayTube Wallet, the first decentralized super wallet developed under the zkTube protocol. The wallet allows users to conduct transactions and transfers of ERC20 tokens, providing efficient, smooth, low-cost user service and quality experience. Superior characteristics: the first phase has already achieved TPS 3000+, and the transfer fee is in US cents only, but the security level is the same as the Ethereum mainnet. On this basis, the zkTube Labs team is working on a newer extension solution to improve TPS. Right now, the team has tried to coordinate all provers to improve the processing speed of all provers per second and shorten the proof time as much as possible. According to preliminary estimates of zkTube Labs, this scheme can achieve a staggering TPS 20,000+. It is conceivable that with the launch of the zkTube mainnet and PayTube wallet, the ETH Layer 2 ecosystem around zkTube will become more and more mature, with great prospects for future development.
writer : themagic96