Layer Zero was supposed to launch a new chain, as leaked. I read the blog article about it about an hour ago, and if it's implemented as planned, it's truly big news in terms of infrastructure.
The details are a bit complex, so let me summarize them as simply as possible:
- Decentralization: Anyone can be a validator. There's no minimum delegation. While delegated to Senators, the higher-level governance participants, direct governance participation is also possible. ZKVM-based validator requires minimal performance.
- Built-in L2: Zero has multiple execution shards called Zones, each handling different tasks. Zones can theoretically have arbitrary execution environments. All creation, modification, and upgrades of Zones must go through Zero's on-chain governance. Zero serves as the Zone settlement layer (verifying validity proofs for computations). In theory, 2 million TPS can be achieved in a decentralized environment.
- Zones will be used for three purposes: general smart contracts, global markets, and payments. Among these, the Global Market Zone has introduced a fully self-built execution environment, and the payment system has added numerous privacy-focused features.
- Notable Note 1: Citadel, DTCC, and ICE (parent company of the NYSE) are included as Day 1 partners for the Global Market Zone.
- Notable Note 2: Onboarding of advisors Cathie Wood and Michael Blougrund (Vice President of ICE, former COO of NYSE).
- Notable Note 3: According to the tech blog, the current token, ZRO, appears to be becoming Zero's native token.
The various technologies Layer Zero has announced so far, such as QMDB, SVID, and FAFO, all seem to have been build-ups for Zero.
Personally, I feel like this is what would happen if they front-run the lean Ethereum roadmap. I'll be following up on CT today, as there will likely be a lot of discussion about this.
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* I am a ZRO holder.
