The new ZK technology has some problems, as pointed out in a recent blog post by ZKFair, a new mainnet made by Lumoz.
Problems like overvaluing companies, too much control by venture capitalists, and not enough variety in Layer 2 solutions are making people lose interest and causing unfair behavior.
ZK is having problems like being too expensive, not enough people using it, and mainly controlled by rich investors. We need to find better and fairer ways for people to use blockchain.
Lumoz said its ZKFair project will start a test network on December 6 and the main network on January 20 in response to the problems it talked about. The project will be fully owned by the community. ZKFair also said that when the launch happens, they will give away all the tokens to the community in an airdrop.
A detailed examination of ZKFair
ZKFair is a place where everyone in the community can take part and it’s all about being fair and just. New coins start at very low prices, the community gets rewards and money back, and everyone has an equal chance to share their ideas.
ZKFair wants to use the USDC stablecoin as its gas token to make things clear and open. It will help different blockchains talk to each other and connect to apps on Ethereum. It will also help create a network for proving things in a decentralized way.
Lastly, it will be the first ZK-Rollup built on the Polygon (MATIC) Chain Development Kit (CDK) and the Celestia (TIA) Data Availability (DA). Lumoz first said it would launch StableNet in late November.
Lumoz is a type of technology that allows for decentralized transactions and also supports a way to prove transactions without giving away any information. It also helps to create these proofs and serves as a network for verifying the work. It used to be called Opside.
Warning: The information on this website is not meant to be used as financial advice. Investing involves taking risks. When you invest, there is a chance you may not get all of your money back.