Zecrey Private Cross-Chain Bridge
We have presented a detailed demonstration of the various cross-chain technologies, which are mainly used for transferring money between various blockchain platforms.
The complexity of the cross-chain implementation greatly enhances its impracticability. Its interoperability is also limited by the existing blockchain transactions.
To overcome these obstacles, the Zecrey team has conceptualized a privacy cross-chain protocol. Its goal is to provide a secure and decentralized way of transferring assets between various blockchains. Zecrey’s solution is powered by ZK-Rollup.
The Zecrey privacy protocol aims to provide a secure and decentralized way of transferring digital assets between various blockchain projects. Its goal is to achieve two main objectives: bridging the gap between blockchain networks and achieving privacy assets swap.
The core idea of Zecrey is to use two layers: state management and asset security guarantee.
ZK-Rollups is a layer 2 technology that allows us to transfer multiple transactions into a single transaction. Its smart contract will then verify all of the transactions held in a single transaction.
ZK-Rollup is a zero-knowledge proof method that shows the validity of the block. It eliminates the need for storing and processing large amounts of data.
There are two types of users that are involved in ZK-Rollup: relayers and transactors. The relayers create the transfer and broadcast the details of the transaction to the network. The smart contract records the details of the transactions in two separate Merkle Trees.
The relayers generate the SNARK proof, which is a hash that represents the state of the blockchain. It compares a snapshot of the network before and after the transactions to a verifiable hash.
Even though they don’t have to be a relayer to use ZK-Rollup, anyone can become a relayer once they have deposited a certain amount in the smart contract.
ZK-Rollup is significantly cheaper to use than traditional methods of transferring data. Its decentralized nature enables it to perform better and reduce transaction fees.
We use the PLONK algorithm to generate ZK-Rollup’s algorithm. Its recent iteration, which is called PLONK, can perform more than older SNARKs.
The PLONK reference string can be updated with each update, which can reduce the likelihood that the network was compromised.
ZK-Rollup’s state updates are maintained by the network’s administrators, which provide the same level of security and decentralization as layer-1. Its account-based model also enables developers to easily implement their own account-based privacy.
For state management, ZK-Rollup uses Sparse Merkle Tree to store the account state data. After the block proof has been verified, smart contracts will update the on-chain status according to the proof that contains the SMT ST.
State management is the core module of ZK-Rollup. It presents the account and assets state in two separate trees: the account tree and the assets tree. By storing both accounts and assets in two separate trees, we can store over 200 accounts and over 300 liquidity pairs.
The main features and advantages of Zecrey are presented in the following summary.
Zecrey is an example of a one-to-many private transaction. Its one-click private transfer feature is also very useful.
The number of privacy transactions for each user in the same round is no longer restricted, leading to the high TPS of the protocol.
The ZK-Rollup protocol uses composite zero-knowledge proofs to provide high-performance computing. Through this technology, it can prove the privacy proof on a mobile phone.
Zecrey is an asset aggregator that enables users to distribute similar assets across the network. Its cross-chain bridges provide users with an intuitive asset management view.
Zecrey achieves interoperability between any blockchains through the cross-chain bridge and supports cross-chain privacy assets swap.
Through ZK-Rollup, Zecrey can achieve lower handling fees, higher security level, higher TPS, and second-level cross-chain swap.
Zecrey official website: Zecrey
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