Bitcoin rose by more than 10% in a single day on February 15th. With the explosion of Bitcoin, the concept of zk currency also has a large increase. Polygon, which has a market value of over 10 billion US dollars, is also announcing its zkEVM mainnet Beta After the version will be released on March 27, it will have a considerable increase of 11% in a single day. BlockBeats sorted out the more eye-catching zk concept projects in this general increase.
MINA(MINA) (24H + 9.2%)
The lightweight public chain MINA Protocol, the team behind it comes from O(1)Labs in the United States. It was established in 2017 and was formerly known as Coda. It was the first project in the second-generation public chain to propose the use of ZK technology. MINA uses a zk-SNARK technology called Pickles, which can keep the block size fixed. Theoretically, the constant size of the entire ledger is about 22kB. MINA Token can act as a network Gas fee and participate in node verification.
The current market value of MINA is 847 million US dollars. In this round, it rose from a low of 0.72 US dollars to 1.08 US dollars. In the market that is expected to be brought about by the remaining three of the Layer2 ZK four dragons, MINA , as a Layer1, is obviously not the most relevant target, but as a public chain that has been seriously oversold, the rebound market has taken advantage of the trend.
LRC(Loopring) (24H + 14.73%)
Loopring, the familiar name is "Loopring Agreement", based on ZK Proofs to build a high-throughput, non-custodial DEX, the authentic ZK Layer2 target, has doubled from less than $0.2 since the beginning of January, and was regulated by the SEC last Friday It quickly regained lost ground in the overall sharp drop brought about.
Cons: The project is older and lacks freshness.
Matic(Polygon) (24H + 11.16%)
On the evening of February 15th, Polygon officially announced that the beta version of its zkEVM mainnet will be released on March 27th. As a technology family bucket, Polygon developed their own zkEVM products by acquiring Hermez Network (a ZK Rollup). zkEVM is a virtual machine that transparently executes Ethereum transactions, including smart contracts with ZK proofs.
Polygon, as a large public chain that includes the ZK concept, has not benefited significantly in this round of ZK market due to the degree of concept fit and market value.
Tornado Cash (TORN) (24H - 7.36%)
Tornado Cash is a private transaction middleware implemented on Ethereum based on zero-knowledge proofs. It uses zk-SNARK (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) to send ETH and ERC20 Token (currently supports DAI, cDAI, USDC, USDT, WBTC) to any address in an untraceable manner. It is precisely because of the support of zk-SNARK technology that Tornado Cash has become a reliable tool for money laundering in the eyes of hackers. After the attack, most of the assets obtained by hackers were eventually transferred to Tornado Cash.
It is worth mentioning that Alexey Pertsev, the core developer of Tornado Cash who was previously arrested in the OFAC sanctions incident, will end his detention on February 20. Under the double benefits, TORN has pulled up a large increase in a short period of time.
Celer Network (CELR) (24H + 10.22%)
As a blockchain interoperability protocol, reducing the cost of multi-chain DeFi operations for users has always been the research direction of Celer Network. In April 2022, Celer announced the official launch of the Layer2.Finance ZK version based on StarkWare StarkEx. Layer2.Finance has built an innovative solution similar to the "DeFi public transportation system", allowing users to access all existing DeFi protocols with low fees.
DUSK Network (DUSK) (24H + 13.6%)
Dusk Network is a Layer 1 blockchain protocol that can provide support for privacy-preserving smart contracts that meet business compliance standards. The protocol uses a ZKP system called "PlonKup" to protect data at a lower cost. Utilizing PLONK in zero-knowledge (ZK) technology, the confidentiality of all transactions on the Duk Network will benefit.
Immutable X (IMX) (24H + 6.24%)
Immutable X is a Layer 2 scaling solution for NFT on Ethereum. The network provides fast transaction confirmations for minting and trading NFTs with near-zero gas fees. Immutable X's shared global NFT order book can effectively improve the liquidity of NFT and increase its trading volume. NFTs can be bought and sold on any Immutable X-based marketplace.
With ZK- Rollup technology, ImmutableX provides scalable and high-response infrastructure for various blockchain game ecosystems.
