Zecrey Protocol, a ZK-rollup-based layer 2 privacy protocol, just declared its public testnet would be launched on 31st December 2021.
With the prosperity of DeFi, crypto wallets have gradually become more significant in the context of a more diverse blockchain ecosystem. Due to very common pseudonymity in crypto, most people are not aware of privacy protection, and most operations are devoid of proper privacy-protective measures. Thus, it becomes imperative to work out a solution for this problem.
To this end, several privacy-related dApps and protocols have emerged. However, they showed significant limitations in terms of the complexity of transactions, often having to sacrifice privacy for a higher transaction volume and a better user experience. The Zecrey team has tried to find a comprehensive solution to preserve privacy to the benefit of its users by creating a cross-chain service that is scalable, programmable, and lightweight at the same time.
One of the key functionalities of Zecrey Protocol is that it is an all-in-one crypto, multi-chain wallet that places privacy at the forefront of its innovation as one of the best ZK-rollup, layer two solutions to have been created on blockchain. The dApp combines a familiar wallet design with some improved accessibility, by allowing users to manage multi-chain assets without switching networks.
With Zecrey, users can access privacy protection services for their assets and transactions, perform cross-chain transactions and cross-chain swaps efficiently, and interact with external dApps, all at a one-click distance.
What makes Zecrey unique
One of the core features of the Zecrey wallet is its cross-chain bridge functionality, which allows for groundbreaking transactions between layer 1 and layer 2, in the form of deposits and withdrawals. In this way, users could deposit layer 1 assets into Zecrey’s layer 2, and then withdraw assets to any layer 1 blockchain that is compatible with the Zecrey wallet.
Moreover, Zecrey Protocol has a high-efficiency AMM DEX, therefore all assets deposited to Zecrey layer 2 could also be added to the liquidity pool for extra benefits. Paired with Zecrey’s cross-chain functionality, users could swap assets in layer 2.
Furthermore, the wallet users could be rewarded for their contribution to the Zecrey liquidity pool with various locking and staking rewards. In exchange for locking assets to the layer 2 liquidity pool, users will be rewarded, gain a percentage of the transaction fees and other rewards.
Lastly, the transactions effectuated from Zecrey layer 2 benefit from unparalleled privacy protection through a mechanism that is designed to encrypt transactions as they happen on the blockchain, and preserve privacy for detailed information of transactions.
How to participate in the public testnet
The public test will last until 31st Jan 2022. Users could install the plug-in wallet to test functions during the public testnet phase. The functions mainly include Transfer, Deposit and Assets Lock on Layer 1, Transfer, Cross-chain Swap and Withdraw on Layer 2. We recommend users to read Zecrey Handbook to get more information and instruction about Zecrey protocol and product.
During the public testnet period, you can submit the feedback form give using experience and suggestions about the product. You can also give feedback and ask questions in Zecrey’s Discord and Telegram channel. And follow Zecrey Protocol on Twitter and Medium so you won’t miss activities coming up next.
Welcome to join Zecrey community!
Official website: https://zecrey.com/