The ZK technology has some problems according to a blog post by ZKFair, a new network made by Lumoz.
Problems like overestimating how much something is worth, venture capitalists having too much control, and not enough differences between existing Layer 2 solutions are making people lose interest and be misled.
ZK is having problems like being valued too high, making it hard for regular people to join, and being controlled by big investors. The post says we need to find fairer ways for everyone to take part in blockchain.
In response to the problems it talked about, Lumoz said its ZKFair project will start a community-owned Layer 2 testnet on December 6 and mainnet on January 20. ZKFair said they will give 100% of the tokens to the community with an airdrop when they launch.
Examining ZKFair more closely.
ZKFair is a website made to make sure everyone in the community is involved. It aims to be fair and just. The platform will have coins starting at a very low price, rewards and gas fees going back to the community, and giving everyone an equal chance to share their ideas.
ZKFair wants to use the USDC stablecoin as its gas token to make things clear and easy to understand. It will help different blockchain networks communicate with each other and connect with dApps on Ethereum. It will also help create a decentralized network for providing proof.
Finally, this will be the first ZK-Rollup using the Polygon (MATIC) Chain Development Kit (CDK) and the Celestia (TIA) Data Availability (DA). Lumoz first announced its plans to launch StableNet in late November.
Lumoz is a decentralized service that uses Zero-Knowledge Proof technology and Proof-of-Work mining. It used to be called Opside.
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