ZKBase

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Discover ZKBase's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is ZKBase?

ZKBase (ZKB) is a cryptocurrency that focuses on developing decentralized cross-chain services between Bitcoin and Ethereum, enhancing interoperability within the Bitcoin ecosystem. It utilizes Zero-Knowledge (ZK) proof technology to provide scaling solutions for mainstream blockchains. The project includes various products such as ZKSwap, ZKSquare, and ZKSea, offering services like decentralized exchanges, cross-chain bridges, Layer 2 payments, and NFT marketplaces.

How is ZKBase used?

ZKBase (ZKB) is a cryptocurrency token primarily used within the ZKBase protocol, which focuses on providing scaling solutions for mainstream blockchains like Ethereum and Bitcoin. The protocol leverages Zero-Knowledge (ZK) proof technology to enhance interoperability and facilitate decentralized cross-chain services.

ZKB tokens serve as the governance token for the ZKBase protocol, allowing holders to participate in decision-making processes. Additionally, ZKB can be traded on various centralized crypto exchanges, such as Gate.io, Hotcoin, and Bitget, where it can be bought and sold in pairs like ZKB/USDT.

How do I store ZKBase?

To store ZKBase (ZKB) tokens securely, it is recommended to use a cold wallet, which is a wallet that is totally offline. There are two types of cold wallets:

  1. Paper Wallet: This is a simple, offline wallet where you generate a public and private key using a program. You can print these keys on a piece of paper and store them in a secure place. The keys are printed in the form of QR codes, which you can scan for future transactions.

  2. Hardware Cold Wallet: This is a physical device where you can store your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person who possesses the USB drive can access the assets. Hardware cold wallets are preferred by most users, especially for storing large numbers of coins or tokens.

How to buy ZKBase?

To buy ZKBase (ZKB) tokens, follow these steps:

  1. Choose a Reliable Exchange: Select a reliable centralized exchange that supports ZKBase trading, such as Gate.io, Hotcoin, or Bitget. Ensure the exchange accepts customers from your country and offers the necessary trading features.

  2. Create an Account: Register a free account on the chosen exchange. Provide the required personal information, including your name and email address. You may need to complete Know-Your-Customer (KYC) verification to increase withdrawal limits and unlock additional features.

  3. Fund Your Account: Deposit funds into your exchange account using a suitable method, such as depositing cryptocurrency or buying USDT, ETH, or BNB with fiat currency. Some exchanges offer over-the-counter (OTC) trading services for USDT, making it easier to buy with fiat.

  1. Transfer Funds to the Exchange: If you bought cryptocurrency elsewhere, transfer it to the exchange that supports ZKBase trading.

  2. Place a Buy Order: Use your deposited funds to place a buy order for ZKBase tokens. You can do this by selecting the ZKB/USDT trading pair and specifying the amount you want to purchase.

  3. Store Your Tokens: Once you have purchased ZKBase tokens, store them securely in a crypto wallet. You can use a decentralized exchange (DEX) like 1inch or a wallet like Trust Wallet to manage your tokens.

Remember to research the exchange fees, security features, and supported currencies before making a purchase. Additionally, be aware of market risks and price volatility associated with cryptocurrency investments.

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History of ZKBase

ZKBase (ZKB) is a cryptocurrency that has a rich history. It was initially known as ZKSpace (ZKS) but was rebranded to ZKBase (ZKB) and migrated to a new Ethereum contract. This rebranding and migration marked a significant milestone in the project's evolution.

ZKBase is an infrastructure protocol built on Zero-Knowledge (ZK) proof technology, aiming to provide scaling solutions for mainstream blockchains like Ethereum and Bitcoin. It seeks to create a decentralized cross-chain and Layer 2 ecosystem. The project has developed several products, including ZKSwap, ZKSquare, and ZKSea, offering services such as decentralized exchanges, cross-chain bridges, Layer 2 payments, NFT marketplaces, and Layer 2 domain names.

In terms of its market performance, ZKBase has experienced significant fluctuations. Its all-time high was recorded on February 25, 2021, at $11.37, and its all-time low was on April 27, 2024, at $0.02896. The token has a total supply of 600 million ZKB and a circulating supply of 197.44 million ZKB.

ZKBase has gained popularity, with over 1.9 million watchlists on CoinMarketCap, indicating significant interest from investors and traders. The project's community is active, and it continues to develop new products and services to enhance its ecosystem.

Overall, ZKBase has a complex history, marked by significant events such as rebranding and migration, as well as notable market fluctuations. Despite these changes, the project remains focused on its mission to provide scaling solutions for mainstream blockchains.

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How ZKBase works

ZKBase (ZKB) is a cryptocurrency designed to enhance interoperability between Bitcoin and Ethereum, focusing on decentralized cross-chain services. Here's an overview of how it works:

Interoperability and Cross-Chain Services

ZKBase aims to bridge the gap between Bitcoin and Ethereum by developing decentralized cross-chain services. This allows users to seamlessly interact with both networks, leveraging the strengths of each blockchain. This interoperability is crucial for the growth and adoption of both ecosystems.

Layer for EVM

ZKBase is dedicated to creating a dedicated layer for the Ethereum Virtual Machine (EVM). This layer enables the integration of Bitcoin and Ethereum, facilitating the transfer of assets and data between the two networks. This integration opens up new possibilities for decentralized applications (dApps) and other use cases.

Token and Circulation

ZKBase has a total supply of 600 million tokens, with a circulating supply of 220 million tokens. The token is traded on various exchanges, both centralized and decentralized, allowing users to buy, sell, and trade ZKB tokens.

Price Calculation and Performance

The price of ZKBase is calculated in real-time by aggregating data from multiple exchanges and markets. This ensures a global volume-weighted average price. The token's performance is tracked through various indicators such as the Relative Strength Index (RSI), Fear & Greed Index, and sentiment analysis.

Integration with MetaMask

ZKBase can be integrated with MetaMask, a popular cryptocurrency wallet. This allows users to view their token holdings, trade on decentralized exchanges, and access other features. The integration is done by importing the ZKB token contract address into MetaMask.

Market and Trading

ZKBase is traded on multiple exchanges, including centralized exchanges (CEX) and decentralized exchanges (DEX). The token's price performance is compared to the global cryptocurrency market and similar Ethereum Ecosystem cryptocurrencies. Users can track the token's price chart, trading volume, and market capitalization to make informed investment decisions.

Overall, ZKBase is designed to enhance the interoperability between Bitcoin and Ethereum, providing a dedicated layer for EVM and facilitating cross-chain services. Its token, ZKB, is traded on various exchanges and can be integrated with popular wallets like MetaMask.

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ZKBase's strengths

The token ZKBase (ZKB) has several strengths that contribute to its potential and value in the cryptocurrency market:

  1. Layer 2 Technology: ZKBase is built on ZK-Rollups technology, which provides fast, frictionless, and trust-free services. This technology enhances the efficiency and scalability of the platform, making it more attractive to users.

  2. Decentralized Cross-Chain Services: ZKBase is dedicated to developing decentralized cross-chain services between Bitcoin and Ethereum, enhancing interoperability within the Bitcoin ecosystem. This allows for seamless interactions between different blockchain networks, increasing the platform's utility.

  3. Multi-Chain Support: ZKBase supports multiple chains, which expands its reach and potential user base. This feature makes it more versatile and adaptable to different blockchain environments.

  1. NFT Support: The platform includes an NFT minting center and marketplace called ZKSea, which allows users to create and trade non-fungible tokens. This feature adds diversity to the platform and attracts users interested in NFTs.

  2. EVM Compatibility: ZKBase aims to implement EVM-compatible ZK-Rollups, which ensures compatibility with the Ethereum Virtual Machine. This compatibility makes it easier for developers to integrate their projects with the platform.

  3. Strong Community: ZKBase has a significant following, with over 1.9 million users having it in their watchlists. This indicates a strong interest in the project and its potential for growth.

  1. Diverse Products: The ZKBase platform consists of multiple components, including ZKSwap (a Layer 2 AMM DEX), ZKSquare (a payment service), and ZKSea (an NFT minting center and marketplace). This diversity of products makes the platform more comprehensive and appealing to users.

These strengths position ZKBase as a robust and versatile cryptocurrency project with a strong potential for growth and adoption.

ZKBase's risks

ZKBase (ZKB) is a cryptocurrency that carries significant financial risks. As a highly volatile investment, it is subject to various risks including market, project, technical, and compliance risks. The project's ROI is 1.67x, indicating a high potential for returns, but this also means that the investment can be highly unpredictable and susceptible to sudden changes in value. Additionally, the project's high-risk nature means that investors should have a high tolerance for risk and be prepared for potential losses.

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Did ZKBase raise funds?

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ZKBase’s team

  • ZKBase Team: The team behind ZKBase is highly technical and focused on delivering concrete ZK solutions and security enhancements.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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