zkTube Labs (or “zkTube”) has a Layer 2 protocol that has adopted ZK-Rollups to potentially solve major Ethereum blockchain scaling solutions. It was launched in 2020 and has made rapid progress by achieving several key milestones. Low gas price, high transaction throughput, secure and swift cross-border payments through its PayTube wallet, eco-friendly mining, support for NFTs and GameFi industries, robust community and more, are some of the significant achievements of zkTube.
zkTube Turns Ethereum Green
Cryptocurrency mining is power-hungry that involves heavy computers to verify transactions by solving complex computational problems. According to Cambridge researchers, mining consumes 121.36 TWh of power yearly (Source: University of Cambridge Bitcoin Electricity Consumption Index), more than the energy consumption in Argentina, UAE, and the Netherlands. Most of the countries utilize non-renewable resources for power generation, and this much energy consumption only for mining is alarming.
For the importance of environmental protection, zkTube mining technology is designed for lower energy consumption to implement their solution. It is based on an eco-friendly PLONK mining model that contains miner codes to carry out mining. There are decentralized provers that compose the zero-knowledge proof miner network of zkTube nodes which is designed to turn Ethereum green by reducing greenhouse gas emissions.
In a recent interview with the CEO of zkTube, Mr. Daniel Puzny, said,
“zkTube is a world-first Layer 2 mining protocol that adopts zero-knowledge proof which enhances scalability & transaction throughput, lowers gas fees, and improves privacy for Ethereum, all whilst significantly reducing energy consumption.”
zkTube’s PayTube Wallet
PayTube Wallet is an Australian first Layer 2 digital wallet created on zkTube protocol and is designed by its co-founder Ms. Charlene. It is a cutting-edge digital wallet that provides an opportunity to revolutionize decentralized payments. The primary purpose is to provide better privacy and security than other well-known digital wallets.
PayTube Wallet is a web 3.0 application that utilizes Zero-Knowledge Proofs to provide one-stop decentralized financial solutions, including privacy, transparency, speed, and low-cost cross border transactions. Security is ensured by multiple means ie PINS, private keys encryption, multiple signatures that split payment authorization across 12 devices, biometric authentications etc. It is an open-source and non-custodial wallet in which the user is the sole owner of private keys and funds. The overall transactions throughput is 1000 times higher and costs only 1% of Layer 1 of the Ethereum Mainnet.
PayTube wallet enables seamless switching between Layer 1 and Layer 2 and supports more than 3000 different digital assets, including stable coins. Users can also earn rewards and coupons. PayTube wallet supports Visa, MasterCard, UnionPay, Apple Pay and Google Pay payment methods. PayTube wallet allows users to monitor the market, send, receive, request and exchange encrypted currency throughout the globe. It supports DeFi, NFTs, Metaverse and other financial services with just a one-click link.
zkTube’s Rapidly Growing Community
zkTube believes in honesty, transparency and maintaining a good relationship with its potential users. The team members interact with the community and answer user’s questions with openness and transparency about the development. They are using several internal and external tools to communicate with the blockchain and crypto community. The communications and interaction between users and team members are reasons that the zkTube community is growing.
There are more than 99000 community users altogether on various platforms, including Telegram, Twitter, Discord etc. Recently, a bounty at Bitcointalk had more than 100,000 participating users, which has created a considerable data growth of global node access. This overwhelming large number of users shows the growing user interest in the zkTube technology.
zkTube is also receiving massive support from many countries. It is widely recognized and supported by users and developers from countries including Australia, France, Arabia, China, Vietnam, India etc. Currently, the financial capitalization of zkTube is nearly $6 million, and it will enter a further funding round shortly to support its go-to-market strategy.
zkTube’s Joint Fund with ONEUNI Capital
zkTube has perfectly developed a platform for today’s digital offerings, such as Dapps. DEX, DeFi, NFTs, virtual games and Metaverse. It ensures high throughput, low-priced and swift transactions without compromising user experience.
In August 2021, zkTube and ONEUNI Capital (Canada) have jointly established a Seed Incubation Fund of $10 Million with ten different investment institutions. Its purpose is to support large scale adoption of zkTube that empowers developers to create more creative GameFi projects. The Start-Up application channel for GameFi, NFT and Metaverse was opened from September 1, 2021, joining the Enterprise Ethereum Alliance (EEA).
zkTube believes in the bright future of GameFi and NFTs industries, and it is also evident from the growing number of their users globally. It is also hoping to build a GameFi Layer 2 ecosystem that is easily accessible globally.
zkTube Mainnet is Launching on September 10, 2021
zkTube team is committed and working hard and has tested more than 50k beta versions of PayTube Wallet with 130k zkTube nodes testing zkTube testnet in more than eighty countries. After mapping, zkTube is launching its Mainnet on September 10, 2021.
When the Mainnet goes online, staking (mining) will start, and this will generate profitable rewards. The launch of Mainnet will enable fast and convenient digital assets migration from Layer 1 to Layer 2, charging a low fee and ensuring high security. The testnet mining will be upgraded with innovative mining mode with the release of PayTube wallet. The release of PayTube Wallet will significantly improve the Ethereum Layer 2 ecosystem formed by zkTube. It will enrich the ecosystem by supporting various protocols in Layer 2. After Mainnet Launch, the mapping ratio of ZKTT to ZKT will be announced.
More about zkTube Labs
zkTube Labs has the best Layer 2 scaling solution on Ethereum with a throughput of 3000+ TPS. Its protocol runs on top of Ethereum without any delay in moving funds from Layer 2 to Layer 1. The transaction fee is very low with the quick real-time transaction within 10 minutes using SNARK proof. It ensures 100% security at the Mainnet level. zkTube Labs has the perfect solution for network congestion, capacity expansion, data availability and privacy problems on Ethereum. It ensures high scalability by supporting a multi-chain ecosystem and decentralized by design to make it available for everyone.
zkTube Labs has one of the most user-friendly ecosystems that has aimed to enhance Ethereum blockchain by solving its limitations and bringing financial revolution in crypto payments.
Join zkTube Labs to enjoy limitless opportunities!