AMA Recap: CRYPTO MINERS x ZKEVM

zkEVM Chain introduces the first EVM-native modular execution chain for wide-ranging Zero-Knowledge (ZK) applications. Global zkEVM circuit and smooth zk interface make it a pioneering blockchain ecosystem solution. zkEVM Chain is a Layer 2 blockchain designed to incorporate Zero-Knowledge Proofs (ZKPs) for enhanced privacy, scalability, and cost-efficiency. This innovative blockchain leverages advanced cryptographic techniques to provide a secure and efficient platform for decentralized applications (dApps). With zkEVM Chain, developers can build a wide range of applications while ensuring transaction privacy and reducing costs, making it a promising solution for the evolving blockchain landscape.

We hosted an AMA session with zkEVM on 20th October.

Mr. Ramsy was the host from Crypto Miners and Mr. David Gastby, Founder of zkEVM was the guest. He shared delightful knowledge and unique features of zkEVM.

Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 Welcome to Our Another AMA Session With zkEVM

Today, we are very honored to invite Mr. David To be our guest in our today’s session to introduce zkEVM

Gastby | zkEVM:
Hello guys

Ramsy | Crypto Miners:
Welcome here mate

Thanks for joining with us today

First of all can you introduce yourself to us? @GastbyzkEVM

Gastby | zkEVM:
Certainly, I’d be delighted to introduce myself. I’m Gastby, and my journey in the tech world has been nothing short of exhilarating. Presently, I have the honor of being the CEO at zkEVM Chain. My career has been marked by a profound passion for pioneering technologies, especially within the blockchain and Web3 domain.

My professional trajectory has included roles as a software developer, and I’ve had the privilege of supporting exceptional individuals in their endeavors. My contributions even garnered recognition from the Association for Computing Machinery (ACM), a testament to my dedication to computer science.

zkEVM Chain is where my current adventure unfolds. We’re dedicated to creating foundational infrastructure for Web3, paving the way for an exciting future. As the CEO, my goal is to steer our team towards even greater heights in the realm of zero-knowledge technologies, EVM, and blockchain innovations. I’m thrilled to be here and share this journey with you all.

Ramsy | Crypto Miners:
Glad to have you today Gastby 🤝

Now let’s begin our first part of the session — Project introduction

I’m pretty sure that our community is very much excited for that ✌️

Are you ready mate?

Gastby | zkEVM:
Certainly

Let’s keep the progress going

Ramsy | Crypto Miners:
Alright…

Q1. Could you make a brief introduction about zkEVM? What is your vision behind the project?

Gastby | zkEVM:
Certainly, let me provide a concise introduction to zkEVM and the vision that propels this project.
zkEVM Chain combines the strengths of two groundbreaking technologies: zero-knowledge proofs, offering innovative cryptographic solutions, and the EVM (Ethereum Virtual Machine), a distributed state machine that has transformed the landscape of blockchain-based application development. This fusion opens up new horizons for blockchain innovation and application development.

zkEVM, short for Zero-Knowledge Ethereum Virtual Machine, is a cutting-edge technological marvel that merges the power of zero-knowledge proofs with the Ethereum Virtual Machine (EVM). This fusion creates a next-generation Layer 2 blockchain that redefines the boundaries of privacy, security, and performance in the blockchain space.

Our vision behind zkEVM is to pave the way for a decentralized future that is accessible, secure, and scalable. We’re committed to unlocking the full potential of Web3 by providing a robust infrastructure that enables developers to build applications that are not only privacy-focused but also capable of handling a high volume of transactions with lightning speed.

In essence, zkEVM is all about making blockchain technology more user-friendly and efficient. We aim to empower developers and users, expanding the horizons of what’s possible in the world of decentralized applications. Our vision is to create a seamless, decentralized ecosystem that embraces the principles of privacy, scalability, and security while offering an exceptional user experience.

We’re excited to share the innovative features and capabilities of zkEVM, and we believe that zkEVM is set to revolutionize the way we interact with blockchain technology, driving the next wave of innovation in the Web3 space.

Ramsy | Crypto Miners:
Thanks Gastby for the great start 👏

Let’s see the second question from this segment

Gastby | zkEVM:
Great!

Ramsy | Crypto Miners:
2. What are the main features and qualities of zkEVM that makes it special as comparing other blockchain projects?

Gastby | zkEVM:
zkEVM Chain is an Layer 2 blockchain that’s engineered to revolutionize the world of decentralized technology. At its heart, zkEVM Chain takes the concept of Zero-Knowledge Proofs (ZKPs) and integrates them into a blockchain framework. The primary goal here is to enhance privacy, scalability, and cost-efficiency, ensuring that zkEVM Chain stands out as a beacon of innovation in the blockchain arena.

So, how does it all work? Well, zkEVM Chain utilizes advanced cryptographic techniques to create a platform that’s both secure and efficient for the development and execution of decentralized applications, often referred to as dApps. This means that developers working with zkEVM Chain have a robust foundation upon which to build a diverse range of applications.

But what makes zkEVM Chain particularly intriguing is its unwavering commitment to safeguarding transaction privacy while also ensuring cost-effectiveness. Privacy, as we know, is a paramount concern in today’s digital landscape, and zkEVM Chain aims to address this concern effectively. By incorporating ZKPs, zkEVM Chain enables users to carry out transactions and interact with dApps while keeping their sensitive data and activities confidential.

Moreover, zkEVM Chain excels in reducing costs associated with blockchain transactions. This is a significant step forward, as high transaction fees can be a significant hurdle for users and developers alike. By mitigating these costs, zkEVM Chain becomes an attractive and practical solution for blockchain applications that strive for efficiency and accessibility.

In essence, zkEVM Chain is a promising addition to the ever-evolving blockchain ecosystem. With its privacy-centric approach, scalable infrastructure, and cost-efficiency, it offers a compelling platform for the development and growth of decentralized applications. As the blockchain landscape continues to evolve, zkEVM Chain stands as a testament to the ongoing innovations in the field, providing users and developers alike with new opportunities for secure and efficient blockchain interactions.

Ramsy | Crypto Miners:
Sounds interesting 👌

So What facilities and services zkEVM provides to developers so that they can build on zkEVM Chain?

Gastby | zkEVM:
zkEVM is dedicated to empowering developers by providing a wide range of facilities and services to facilitate building on the zkEVM Chain. Here are some of the key offerings:

1. Universal Circuits: zkEVM introduces Universal Circuits, a powerful library of Zero-Knowledge circuits designed for versatility. These circuits are instrumental in building privacy-focused, high-performance applications. Developers can leverage these circuits to streamline the process of integrating Zero-Knowledge functionalities into their smart contracts.

2. ZK-as-a-Service: zkEVM offers ZK-as-a-Service, simplifying the integration of Zero-Knowledge features into applications. This allows Solidity developers to enhance their dApps with privacy-preserving capabilities, such as private payments, identity verification, and more.

3. User-Friendly Experience: zkEVM provides a user-friendly environment for deploying EVM-native ZK applications. Developers can easily call ZK-enabled contracts for their existing Solidity smart contracts through high-level APIs.

4. Comprehensive Documentation: zkEVM offers extensive documentation to guide developers through the process of integrating Universal Circuits and developing/deploying applications on the zkEVM Chain.

5. Testnet: Developers have access to a testnet for experimentation and testing before deploying applications on the mainnet.

6. Multiple Blockchain Compatibility: zkEVM is designed to work across multiple blockchains, providing compatibility with various ecosystems, including Binance Smart Chain, Polygon, and others.

For developers eager to embark on the journey of building decentralized applications (dApps) on zkEVM, the process is a breeze. The transition involves a simple switch to zkEVM’s Remote Procedure Call (RPC) interface, opening the door to a network characterized by significantly increased throughput and reduced fees. This feature streamlines the development process and provides developers with a familiar EVM-like environment in which to create and deploy their dApps.

Ramsy | Crypto Miners:
Now share about the native token $ZKEVM, what are its usecases and utilities in Your ecosystem? Also provide with us the tokenomics

Gastby | zkEVM:
The $zkEVM token plays a pivotal role in the zkEVM Chain ecosystem, serving multiple functions that contribute to its overall utility and sustainability.
Tokenomics:

Total Supply: 100,000,000 zkEVM tokens
Token Name: zkEVM Chain
Symbol: zkEVM

1.Liquidity (12.5% — 12,500,000 zkEVM tokens):
This portion of the tokens, amounting to 12,500,000 zkEVM tokens, is allocated to provide liquidity to the zkEVM ecosystem. Liquidity is essential for the smooth functioning of decentralized exchanges and other financial applications. These tokens will be used to facilitate trading and ensure that there is enough liquidity to support zkEVM transactions.
2.Public Round (25% — 25,000,000 zkEVM tokens):
The Public Round consists of 25,000,000 zkEVM tokens, which represents 25% of the total token supply. These tokens are typically reserved for Presale Round.
3.Team, Advisors, and Future Hires (10% — 10,000,000 zkEVM tokens):
To incentivize and reward the team behind zkEVM, as well as advisors and potential future team members, 10,000,000 zkEVM tokens are allocated. These tokens serve as incentives for the development team to ensure the long-term success of zkEVM. Advisors and future hires may also receive tokens as part of their compensation.
4.Community Incentives (5% — 5,000,000 zkEVM tokens):
The Community Incentives pool, containing 5,000,000 zkEVM tokens, is designed to engage and reward the zkEVM community. These tokens can be used for a variety of purposes, such as community programs, bounties, airdrops, and initiatives aimed at fostering a strong and active zkEVM user base.
5.Ecosystem, Development, and Treasury (10% — 10,000,000 zkEVM tokens):
This allocation of 10,000,000 zkEVM tokens is intended for the development and expansion of the zkEVM ecosystem. It includes funding for ongoing development, partnerships, and building the zkEVM treasury. These tokens are essential for ensuring the sustainability and growth of the zkEVM platform.
6.Network Rewards (37.5% — 37,500,000 zkEVM tokens):
The Network Rewards pool, comprising 37,500,000 zkEVM tokens, is used to incentivize network participants. These tokens may be distributed to validators, stakers, miners, or other contributors to the zkEVM network who help secure and maintain the blockchain. Network rewards encourage active participation in the zkEVM ecosystem.
These allocations are designed to provide zkEVM with the resources needed for development, adoption, and network security while rewarding various stakeholders in the ecosystem, including the community, developers, and network participants.

Utility: The $zkEVM token’s utility extends to various aspects of the zkEVM Chain ecosystem:
Gas Fees: Users can pay transaction fees, using $zkEVM tokens. This is an essential function for any blockchain, facilitating and incentivizing the validation of transactions.
Staking: Token holders can participate in staking to secure the network, validate transactions, and earn rewards.
Governance: The $zkEVM token empowers the community to participate in governance decisions, allowing token holders to have a say in protocol upgrades, changes, and other key decisions.

Incentives: Developers, validators, and other network participants can earn $zkEVM tokens as incentives for their contributions, fostering a robust and active ecosystem.
Trading: The $zkEVM token can be freely traded on various exchanges, allowing users to engage in price speculation and investment.

By integrating the $zkEVM token into the core of our ecosystem, we aim to establish a vibrant and self-sustaining network where users are not only incentivized to participate but also have a stake in its future development and success. This carefully designed tokenomics and utility structure are pivotal in realizing our vision for zkEVM Chain.

Ramsy | Crypto Miners:
Finally What zkEVM achieved so far and What important updates and developments can we expect in the future?

Gastby | zkEVM:
Leveraging our expertise, zkEVM Team is dedicated to fostering connections and expanding zkEVM’s reach in the blockchain world. We’re deeply committed to the zkEVM mainnet’s potential and share a vision with zkEVM Chain and the zkEVM Incubator team. This collaboration aims to drive widespread web3 adoption.

Our partnership with many private ventures has been instrumental in zkEVM Chain’s progress, facilitating connections with esteemed backers. Our primary goal is to enable seamless asset trading across chains, boosting DeFi expansion. This collaboration marks a significant milestone in zkEVM Chain’s growth and strengthens the $zkEVM governance token.

Our commitment goes beyond zkEVM Chain, as we actively engage with various blockchain projects, fostering their involvement in the zkEVM ecosystem. With over 30 established partnerships, we believe this expansion is key to zkEVM Chain’s growth, reaching far beyond DeFi.

Ramsy | Crypto Miners:
Thanks Gastby for this well detailed introduction about zkEVM

That’s the wrap up of our the first part of the AMA session ✅

Gastby | zkEVM:
Interesting, can wait for next part

Ramsy | Crypto Miners:
Let’s now proceed to our Twitter Questions section

Segment 2️⃣: Twitter Questions

1. In what way does zkEVM see itself fitting into the larger blockchain scene, especially as the use of blockchain technology grows and changes over time? What distinct contributions does zkevm hope to contribute to the industry’s continued growth?

Gastby | zkEVM:
zkEVM envisions itself as an integral part of the evolving blockchain landscape, adapting to the changing landscape of blockchain technology. We aim to make distinct contributions to drive the industry’s growth in several ways:

Scalability and Interoperability: zkEVM focuses on scalability and interoperability, making it easier for blockchain projects to work together. We contribute solutions that ensure blockchains can communicate seamlessly, fostering cooperation and facilitating efficient cross-chain operations.

Privacy and Security: In a world where privacy and security are paramount, zkEVM provides a strong foundation for privacy-focused applications. Our technology empowers developers to build secure, privacy-enhanced dApps and platforms, catering to evolving user needs.

Developer-Friendly Ecosystem: We aim to create a developer-friendly ecosystem by simplifying the integration of zero-knowledge proofs. zkEVM offers tools, resources, and Universal Circuits to streamline development, attracting more talent to the space.

User-Centric Experiences: zkEVM’s mission is to redefine the user experience within the Web3 ecosystem. We’re committed to creating products and applications that prioritize user satisfaction, ultimately driving mass adoption by making blockchain accessible and user-friendly.

zkEVM Chain aspires to be a leading blockchain solution, setting the standard for interoperability, privacy, and scalability in the ever-evolving blockchain industry. Our commitment to providing cutting-edge technology and fostering collaboration positions us on a path to becoming a top-tier blockchain in the blockchain landscape.

Ramsy | Crypto Miners:
2. What security measures have you implemented to properly safeguard and guarantee the safety of projects which are built on the @zkEVMBuild platform? Have you been audited by any audit company and if yes,how can we access this audit credentials?

Gastby | zkEVM:
At zkEVM Chain, security is a top priority. We have taken extensive measures to safeguard the projects and assets built on our platform. To ensure the highest level of security, we have undergone a thorough audit conducted by Interfi, a well-respected and independent auditing firm in the blockchain industry.

This audit covers various aspects, including smart contract security, network security, and overall platform safety. Our audit report contains detailed findings, security recommendations, and a comprehensive analysis of our platform’s security posture.

The audit credentials and the complete audit report are readily accessible on our official website. We believe in providing full transparency to our community and partners, and we encourage everyone to review the audit report to gain confidence in the security of zkEVM Chain. Our commitment to maintaining a secure and trustworthy ecosystem for projects and assets remains unwavering.

Ramsy | Crypto Miners:
That’s the wind up of our twitter segment

Now Moving on to our last segment — Live Q&A

Shall we mate?

Gastby | zkEVM:
Yes, been talking to few folks, can wait to answer.

Ramsy | Crypto Miners:
Coool

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and miners sent hundreds of questions. Guest choose some best to answer)

1) DERR:
As one of utility of $zkEVM was for staking, how the staking model look like, and where they will available?

Gastby | zkEVM:
Certainly, the staking model for $zkEVM plays a pivotal role in our ecosystem. We’ve already made significant progress in its development and implementation. Staking is not just a concept; it’s a reality in both our user interface (UI) and the backend of our platform.

However, we understand the importance of ensuring the security and reliability of our staking mechanism. To achieve this, we’ve initiated a comprehensive audit of our staking decentralized application (Dapp). This audit is an essential step in guaranteeing the safety and functionality of the staking process for our community.

Once this audit is successfully completed, the staking Dapp will be officially launched. This launch will occur after the token is introduced, ensuring that all the necessary components are in place for a seamless staking experience. We want to provide our community with a staking solution that they can trust and rely on.

What makes our staking model even more exciting is its availability on both the BNB chain and the zkEVM Chain. We’ve taken a multi-chain approach to ensure that our community has the flexibility to stake their $zkEVM tokens on the chain of their preference.

2) Muneeb:
I see that there is also zk wallet. So when will it release and how will it different from other wallets?

Gastby | zkEVM:
The zkWallet is indeed an exciting aspect of our ecosystem, and we’re actively working on its development. However, creating a perfect wallet app is a complex and time-consuming process that requires meticulous attention to detail. As a result, the release of zkWallet will be rolled out in subsequent stages as we refine and enhance its functionality and security.

What sets zkWallet apart from other wallets primarily revolves around the incorporation of Zero-Knowledge Proofs (ZKPs) to bolster the security of users’ assets. Security is our utmost concern, and we’ve made it a top priority in the development of zkWallet. By integrating ZKPs into personal wallets, we can ensure a higher level of asset security. ZKPs bring a new layer of privacy and protection to the wallet experience, making it less susceptible to vulnerabilities and attacks that are often associated with traditional wallet solutions.

So, zkWallet will be released in stages, reflecting our commitment to perfecting its features and security. Its key differentiator is the implementation of ZKPs, which enhances the security of users’ assets and prioritizes their protection in an increasingly digital and interconnected world.

3) Lee — Digital Fever:
Given the existing dominance of Ethereum and other Layer 1 blockchains, what strategies are there to encourage developers to build the zkEVM chain?

Gastby | zkEVM:
To encourage developers to build on the zkEVM Chain, we have devised several strategies that focus on the unique advantages and features of our Layer 2 solution:

Scalability: zkEVM Chain is designed to offer superior scalability compared to Ethereum and other Layer 1 blockchains. Developers can build applications that can process a high volume of transactions with minimal gas fees. We actively promote this scalability advantage to attract developers looking for efficient solutions to support their decentralized applications.

Cost-Effectiveness: With reduced gas fees, zkEVM Chain is a cost-effective platform for developers. We highlight the potential savings on transaction costs when building on our chain. This appeals to developers aiming to create affordable applications for a broader user base.

Performance: zkEVM Chain provides improved performance, enabling fast and responsive applications. We emphasize the enhanced user experience that developers can offer by building on our platform. This is particularly attractive to developers who need low-latency applications.

Interoperability: zkEVM Chain is designed to be interoperable with various Layer 1 blockchains. Developers can leverage this interoperability to create cross-chain applications, expand their user base, and offer unique functionalities that tap into the capabilities of multiple blockchains.

Developer Resources: We provide extensive developer resources, including documentation, tools, and support. Our goal is to make it easy for developers to transition to zkEVM Chain by offering a rich ecosystem and a smooth onboarding process.

Community Engagement: We actively engage with the developer community through events, hackathons, and educational initiatives. These efforts foster a vibrant ecosystem and attract developers who are eager to learn and grow within a supportive community.

Partnerships: Collaborating with other blockchain projects and technology partners is another strategy we employ to broaden the appeal of zkEVM Chain. Such partnerships can provide developers with more options and tools for their projects.

In summary, our strategies revolve around showcasing zkEVM Chain’s unique advantages, providing comprehensive support, and fostering a vibrant and collaborative developer community. We believe that by highlighting the benefits and actively engaging with developers, we can encourage them to choose zkEVM Chain as their preferred platform for building innovative and efficient decentralized applications.

*This segment ends here*

Gastby | zkEVM:
Firstly, I’d like to express my gratitude to everyone here. I appreciate your questions and apologize if I can’t address all of them individually, but I’ll do my best to provide thorough and honest responses.

Ramsy | Crypto Miners:
Thankyou so much Gastby for your valuable answers and information about zkEVM

Gastby | zkEVM:
Thank you for having me. It’s been an absolute pleasure sharing our vision with the Cryptominers audience. Stay tuned for the latest updates from zkEVM Chain, and let’s collectively pave the way for a decentralized future.

Ramsy | Crypto Miners:
On behalf of miners community wish all the very best for zkEVM and the entire team behind the project❤️🤝

Have a nice day mate

If you would like to learn more about zkEVM🧬 here are some useful links for you:

Website: https://zkevmchain.io/
X: https://twitter.com/zkEVMBuild
Telegram: https://t.me/zkEVM_talk
Medium: https://medium.com/@zkevmBuild
Discord: https://discord.gg/h3smjFuv
YouTube: https://www.youtube.com/@zkEVMBuild