What is ZKSpace (ZKS)?
ZKS is the native token of ZKSpace, which is a Layer-2 protocol based on ZK-Rollups technology.
The ZKSpace protocol consists of three integral parts:
- ZKSwap – a cutting-edge AMM-based DEX that integrates the use of ZK-Rollups technology.
- ZKSquare – an NFT minting protocol.
- ZKSea – an NFT marketplace.
The ZKSpace network is made up of two main technological components – ZKSpace server and Plonk zero-knowledge proof system.
ZKSpace server is made up of a memory pool, a state keeper, a block proposer, and a prover server. With the help of WebSocket, ZKSpace server connects with platform users. All requests of transactions go to the memory pool and are processed using the ZKSpace swap engine.
In terms of the zero-knowledge proof system used by ZKSpace, Plonk, the technology relies on a distribution architecture and concurrent advancements to produce evidence. All account balances are recorded in the ZKSpace status tree.
In order to secure the network, ZKSpace deploys smart contracts on Ethereum, employs a community mining mechanism, and the Proof-of-Stake (PoS) consensus mechanism. Community mining consists of Proof-of-Liquidity-Mining, Proof-of-Gas, Proof-of-ZK-Snarks, and Proof-of-TransFee.
Use Cases of ZKS Tokens
The ZKSpace relies heavily on ZKS, as it is mainly the governance token of the platform.
ZKSpace coin holders can propose updates and improvements to the ZKSpace crypto project, as well as vote on these proposals. Besides, they can make trading pair listing proposals and vote on them as well.
Additionally, ZKS tokens can be staked on the PoS mechanism that secures the network. PoS participants get rewarded with more ZKS tokens.
Who Founded ZKSpace?
The ZKSpace crypto project was developed by L2 Labs Foundation develops. Alex Lee is the lead developer of the project. Having extensive experience in the development of smart contracts and zero-knowledge proof research, he is a specialist in zero-knowledge proofs.
Toknomics of ZKS
The maximum supply of ZKSpace coins is 1 billion. The tokens were distributed as follows:
- 60% – community mining;
- 15% – the team;
- 8% – ecosystem developers;
- 5.3% – potential A-round investors;
- 4% – initial liquidity;
- 1% – advisors.
