What is zkLink? It is the realization of the promise of a multi-chain blockchain ecosystem and connected DeFi-verse. zkLink can be easily described as a decentralized Binance. It didn't take a day or two for them to start building a project.

Due to their incompatible ledgers, token standards, and consensus mechanisms, it seems almost impossible to collect tokens on different chains into one on-chain universal pool that CEXs have long been benefiting from.

zkLink addresses this problem differently by building a token merge infrastructure on top of multiple chains, where the disparity of stablecoins of different kinds and from different source chains is eliminated — for example, there would be no boundary between USDT-Ethereum and USDC-Solana on zkLink L2 network, while in centralized exchanges like Binance only the same kind of token is clustered into the same pool.

zkLink is the first on-chain protocol to deliver a CEX-like feature-set (multi-chain stablecoin liquidity aggregation) in a decentralized manner, which none of the decentralized bridges or DEXs have ever achieved by design.

As of April 23, 2022, the 24h trading volume of the whole crypto market is over $113 billion, but only $5 billion (3.9%) was traded on decentralized exchanges. This data is telling a story that the market strongly prefers the advantages offered by CEXs, with the top exchange Binance taking $13 billion of trading volume, which is almost 3 times as much as the total of DEXs. (https://www.coingecko.com/en/dex)

There is tremendous opportunity to be created if a seamless CEX-like experience could be delivered securely and fully decentralized with deep liquidity, with ease of use first and foremost.

In a crypto world that advocates decentralization, CEXs could be thought of as a short-term remedy, rather than the ultimate solution:

• Asset ownership: To trade with a CEX, users must firstly give out control of their assets to the exchange, and prove their ownership to the exchange before doing any operations. From the perspective of a ledger, the asset ownership actually belongs to the exchange rather than the trader, and once the identity is stolen, users will lose their tokens.

• Privacy: The KYC identity verification process of a CEX is similar to the real-world banking system that links your account with your identity and requires personal documentation during registration. This is against the free-access and open finance idea of DeFi.

• Trustlessness: You have to trust the centralized exchange that your trades will be consummated, whose operators have the right to restrict, reverse or withhold your trades; however, by virtue of distributed computation, transactions are executed by the contracts that can not be disturbed.

In the future of Metaverse, a decentralized bank is an indispensable piece of the puzzle.

zklink official links

1. Official website https://zk.link/

2. Learn what zkLink is? https://zklinkdefi.medium.com/

3. Dive into the zkLink Docs https://docs.zk.link/docs/Introduction

4. Join our telegram https://t.me/zkLinkorg

5. Follow our twitter https://twitter.com/zkLinkorg

6. Github https://github.com/zkLinkProtocol

What is zkLink? It is the realization of the promise of a multi-chain blockchain ecosystem and connected DeFi-verse. zkLink can be easily described as a decentralized Binance. It didn't take a day or two for them to start building a project.

Due to their incompatible ledgers, token standards, and consensus mechanisms, it seems almost impossible to collect tokens on different chains into one on-chain universal pool that CEXs have long been benefiting from.

zkLink addresses this problem differently by building a token merge infrastructure on top of multiple chains, where the disparity of stablecoins of different kinds and from different source chains is eliminated — for example, there would be no boundary between USDT-Ethereum and USDC-Solana on zkLink L2 network, while in centralized exchanges like Binance only the same kind of token is clustered into the same pool.

zkLink is the first on-chain protocol to deliver a CEX-like feature-set (multi-chain stablecoin liquidity aggregation) in a decentralized manner, which none of the decentralized bridges or DEXs have ever achieved by design.

As of April 23, 2022, the 24h trading volume of the whole crypto market is over $113 billion, but only $5 billion (3.9%) was traded on decentralized exchanges. This data is telling a story that the market strongly prefers the advantages offered by CEXs, with the top exchange Binance taking $13 billion of trading volume, which is almost 3 times as much as the total of DEXs. (https://www.coingecko.com/en/dex)

There is tremendous opportunity to be created if a seamless CEX-like experience could be delivered securely and fully decentralized with deep liquidity, with ease of use first and foremost.

In a crypto world that advocates decentralization, CEXs could be thought of as a short-term remedy, rather than the ultimate solution:

• Asset ownership: To trade with a CEX, users must firstly give out control of their assets to the exchange, and prove their ownership to the exchange before doing any operations. From the perspective of a ledger, the asset ownership actually belongs to the exchange rather than the trader, and once the identity is stolen, users will lose their tokens.

• Privacy: The KYC identity verification process of a CEX is similar to the real-world banking system that links your account with your identity and requires personal documentation during registration. This is against the free-access and open finance idea of DeFi.

• Trustlessness: You have to trust the centralized exchange that your trades will be consummated, whose operators have the right to restrict, reverse or withhold your trades; however, by virtue of distributed computation, transactions are executed by the contracts that can not be disturbed.

In the future of Metaverse, a decentralized bank is an indispensable piece of the puzzle.

zklink official links

1. Official website https://zk.link/

2. Learn what zkLink is? https://zklinkdefi.medium.com/

3. Dive into the zkLink Docs https://docs.zk.link/docs/Introduction

4. Join our telegram https://t.me/zkLinkorg

5. Follow our twitter https://twitter.com/zkLinkorg

6. Github https://github.com/zkLinkProtocol