The Rise of ZK Technology: Enhancing Privacy and Security in the Digital Age
As Ethereum gained enormous popularity, the number of transactions shot up like crazy. It got to a point where the network nodes couldn't handle all the transactions quickly and easily. You see, Ethereum can only do a maximum of 13 transactions per second. So, when there are more transactions than it can handle, the network gets overwhelmed, and it takes longer for transactions to get done.
Because of this issue, loads of companies have been trying to find ways to make Ethereum more scalable. But for a while now, there have yet to be any projects that seem promising enough to launch - not until the launch of zero-knowledge cryptography.
The Value of Data and Personal Information in Today's World
Data and personal information are very important in this day and age, therefore being able to verify something without disclosing it is a significant advantage.
According to blockchain enthusiasts, ZK-Rollups technology is seen as the most promising layer 2 solution this year as this cryptographic technique allows us to prove the authenticity of information without revealing it.
Because of this, many projects are now realizing the potential of ZK and are starting to incorporate this technology into their operations.
iZUMi Finance (IZI), Aleph Zero (AZERO), Concordium (CCD), and LayerAI (LAI) are among the projects that use ZK technology and are also listed on the popular exchange, KuCoin.
Speaking of KuCoin, the exchange decided to hold a special series of campaigns featuring a $7,200 prize pool for their valued KuCoin users to celebrate the rapid development of ZK technology and the growing community of innovative ZK projects on its platform.
If this is the first time you're hearing about this event, it's important to know that the campaign just kicked off earlier today. So, if you're thinking of joining, now's the time to do so before it's too late.
Let's talk about Promo 1, which started today and will run until July 5. During this event, participants who take the quiz and answer at least 3 out of 5 questions correctly will have a chance to win a share of the daily prize pool worth $800. That means the total prize pool for Promo 1 is $2,400.
To unlock the quiz, users need to meet specific trading volume requirements on KuCoin. For AZERO and LAI, you'll need a trading volume of 300 USDT in Spot trading.
Now, for Promo 2, which is scheduled to begin on July 6th and will also run for three days, users who meet specific trading volume requirements on KuCoin during the event period will earn one lucky draw chance to share a daily prize pool worth $1,600. To qualify, you'll need a trading volume of 200 USDT in Spot trading for AZERO, CCD, IZI, and LAI.
As a KuCoin user holding AZERO and CCD, I'm excited to be part of this event. As a matter of fact, I've already completed the first round of the quiz from Promo 1, and I'm planning to answer all 5 questions to increase my chances of winning a share of the $2,400 prize pool. I’m sure I’m not the only one who is anticipating the start of Promo 2.
How about you guys, are you excited about this event? What's your take on the growing development of ZK technology? Do you also believe it can be the answer to Ethereum's ongoing scalability problem? Share your thoughts!