Question 1

What is ZKBase (ZKB)?

Accepted Answer

ZKBase (ZKB), previously known as ZKSpace (ZKS), is a digital asset on the Ethereum platform designed to support and enhance blockchain functionality through advanced technological solutions. It leverages Zero-Knowledge (ZK) proofs to offer scalability and privacy enhancements primarily for the Bitcoin and Ethereum networks. ZKBase facilitates an array of operations, including cross-chain swaps and other decentralized finance (DeFi) activities. It forms an integral part of ZKSwap, a Layer-2 decentralized exchange utilizing ZK-Rollup technology, which aims to provide high-speed and low-cost transactions.

Question 2

What is ZKBase (ZKB) used for?

Accepted Answer

ZKBase is utilized within its ecosystem to provide Layer-2 scaling solutions, aimed at improving transaction speeds and reducing costs on the Ethereum network. It supports functionalities such as decentralized trading, liquidity provision, and yield farming on its platform. The project also explores solutions for programmable Bitcoin through a decentralized BTC bridge and Layer-2 decentralized exchanges that are anchored on ZK technology.