Axiom is a "ZK coprocessor" that provides smart contracts with access to and computation of all on-chain data on Ethereum. Axiom is built for developers who can query historical on-chain data using Zero-Knowledge Proofs and use them to create highly secure “metadata” DApps from Ethereum. Let's learn about Axiom with Coin68 through the article below!
What is Axiom? Project to retrieve and verify on-chain data on Ethereum with ZKP technology
What is Axiom?
Axiom is a "ZK coprocessor" that provides smart contracts with access to and computation of all on-chain data on Ethereum. Similar to how GPUs increase the performance of CPUs, Axiom enhances the consensus capabilities of the blockchain allowing all validating nodes to agree on the calculations performed by the EVM based on Zero-Knowledge Proofs .
What is Axiom?
Axiom is built for developers who can query historical on-chain data that has been proven valid on Ethereum using Zero-Knowledge Proofs. Developers can then integrate that data into smart contracts to create highly secure “metadata” DApps from Ethereum.
Mechanism of action of Axiom
Axiom's way of proving data validity
Developers execute queries into Axiom to access history and perform calculations on all on-chain data on Ethereum. Axiom responds to these queries in 3 steps:
Read: Axiom uses ZK proofs to read Block Header , state, transactions and receipts from any Block in historical data on Ethereum in a trustless way (Trustless). All of Ethereum's on-chain data is encrypted in one of these forms, meaning Axiom can access anything that a node storing the full data can access.
Calculation: Once data has been imported, Axiom applies verified calculation principles to it. The validity of each part of the calculation is verified using ZK proof.
Verification: Axiom accompanies the results of each query with a valid ZK proof that shows the input data was loaded and calculated correctly from Ethereum. Once the ZK proof on-chain in Axiom's smart contract is verified, the final result will be reliably available for other smart contracts to use.
By reading from native data from Ethereum, Axiom can interact with any on-chain system, including base Layer 1 like Ethereum and Layer 2 rollups. This means Axiom can deliver ZK-based improvements to decentralized applications without them having to change too much. This new capability opens up a way to enhance data compute for new Layer 2 rollups.
How developers use Axiom for their smart contracts
There are 3 components that developers will take advantage of including:
Smart contract “AxiomV1Query”
Axiom SDK
Developer's smart contract
To query this data from Axiom and use it in your application, you can follow these steps:
Send online query: Build a query using Axiom SDK and send online query to smart contract “AxiomV1Query”.
Wait for query completion: Off-chain prover will index, generate the query result and prove its validity in ZK. Once the proof is verified on-chain, the results are written to the smart contract “AxiomV1Query” and stored in Merkle-ized form.
Reading query results: Once the results have been written in, developers can use the Axiom SDK to verify the results again with the smart contract “AxiomV1Query” and use them in their smart contracts.
Features of Axiom
Currently, Axiom is allowing users to use 3 features in the demo version including:
Proof of wallet age: Users can prove the Block number of their account's first transaction by entering their wallet address.
Proving the TWAP value of the ETH-USD trading pair on Uniswap V3: Users can prove the TWAP value (time Medium ) of the ETH-USD pool on Uniswap V3 between any two on-chain Block without using checkpointing (checkpoints).
Access randomness from RanDAO: Users can access the randomness generated by the Ethereum Consensus Layer through the RandDAO mechanism. These random values are available to the Execution Layer and can be accessed in the prevRandao data field of the Block Header of any post-merge Block . This allows users to use random values in the execution of smart contracts and other operations on the blockchain to ensure trust.
Features in the Axiom demo
Axiom application
On-Chain on-chain Accounting: Decentralized authentication, asset management, or data availability protocols may require access to historical actions by operators. ) and perform calculations of complex payment functions. For example, a Liquid Staking protocol on Ethereum can use Axiom to access historical validators' signatures and perform calculations to track by verifying them. Similarly, asset management protocols can use Axiom to evaluate historical performance.
DeFi: Axiom can intelligently update parameters for DeFi protocols based on historical on-chain data. For example, Axiom could support a lending protocol with access to its competitors' collateral ratios over a recent period of time so that it updates its parameters to increase its competitiveness. Similarly, AMM platforms may adjust fees based on estimates provided by Axiom of recent market movements.
Off-chain governance: With Axiom, the entire governance process can be verified with ZK proof on-chain, from entering governance weights to checking the validity of votes. This ensures off-chain governance has the same guarantees as on-chain governance without the excessive cost.
Trustless oracle: Many protocols use centralized oracles to Trustless query on-chain committed data including Gas Price or Non-Fungible Token transaction data. Axiom replaces these centralized oracles with a completely trustless solution that avoids over-reliance on oracle operators.
Development team
Prominent members of Axiom's development team include:
Jonathan Wang: He is a Co-Founder of Axiom.
Yi Sun: He is a Co-Founder of Axiom.
Nathan F.: He is the COO of Axiom.
Investors and partners
Currently, Axiom does not have specific information about their Capital raising rounds, investors and partners. Coin68 will update as soon as there is the latest information from the project.
summary
Axiom is a ZK coprocessor that provides smart contracts with access to and computation of all on-chain data on Ethereum. Similar to how GPUs increase the performance of CPUs, Axiom enhances the consensus capabilities of the blockchain allowing all validating nodes to agree on the calculations performed by the EVM based on Zero-Knowledge Proofs.
Axiom can be applied to on-chain on-chain, DeFi, off-chain governance and trustless Oracles. Through this article, you probably have some basic information about the Axiom project to make your own investment decision.
Note: Coin68 is not responsible for any of your investment decisions. Wishing you success and earning a lot of profit from this potential market!
