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ZKSwap (ZKS), a flagship decentralized exchange (DEX) with an automated market-making engine (AMM) based on Layer 2 techniques, solidifies its stance as a scaling infrastructure provider.
ZKSwap (ZKS) develops payment protocol powered by zk-proofs: What is L2.Cash?
Seasoned blockchain developers from L2 Labs, the team behind ZKSwap (ZKS), have shared the details of their new product, L2.Cash.
The new product can be used free of charge, as all Layer 2 transactions with ZKSwap (ZKS) are 100% free; users pay only for deposits/withdrawals to Layer 1.
L2.Cash should be referred to as a payment protocol for retail transactions. Thus, it is the first “out-of-the-box” solution for retail users and merchants developed by L2 Labs.
L2.Cash facilitates nearly-instant transactions as zk-proofs infrastructure allows very low transactional latency and full consistency of L1/L2 status. It ensures maximum capability of 1000 txs per second for all ERC-20 tokens.
Thus, using L2.Cash can save users’ businesses and wallets from the congestion and fee spikes of mainstream blockchains like Ethereum (ETH) and Binance Smart Chain (BSC).
L2.Cash boasts resource-efficient airdrop functionality: all Ethereum-based tokens can be distributed through its instruments free of charge. L2.Cash can airdrop tokens to 10 users every second.
Also, the L2 Labs team is actively researching opportunities for zk-rollups technology to get connected to EVM. When deployed, this instrument will allow ZKSwap (ZKS) to expand into all EVM-compatible blockchains.
ZKSwap (ZKS) integrates L2 solutions to AMM-powered DEXs
First of all, ZKSwap is focused on building second-layer solutions for AMM-powered trading on top of Ethereum (ETH), Binance Smart Chain (BSC), Huobi Eco Chain (Heco), and OKEx Chain (OEC). It implements zero-knowledge proofs, a cutting-edge practice that rolls up multiple transaction data into a single chunk.
In its recently released version v2, ZKSwap introduced the concept of “Unlimited Token Listing” that allows every client to list assets on ZKSwap.
Also, the ZKSwap team reconsidered the interaction between Layer 1 and Layer 2 to optimize cost-efficiency and bandwidth utilization.