ZKFair Price(ZKF)

ZKFair (ZKF) is a Layer 2 scaling solution for Ethereum that aims to address the weaknesses of other Layer 2 platforms, such as lack of decentralization and concentration of revenue. It is built on the Polygon Chain Development Kit and uses the Celestia data availability layer for transactional data integrity verification.

ZKFair (ZKF) is a Layer 2 scaling platform for Ethereum that focuses on maximum decentralization and community involvement. It features a unique revenue distribution model where all revenue from transaction fees is shared back among its user and developer communities. 75% of the revenue is allocated to those staking the platform's native token, ZKF, while 25% is shared with eligible decentralized app (DApp) developers.

ZKFair, a Layer 2 scaling platform for Ethereum, utilizes the USD Coin (USDC) stablecoin for gas fee payments. Gas fees are the transaction fees required to process and validate transactions on the Ethereum network. By using USDC, ZKFair ensures that gas fees are paid in a stable and widely accepted digital currency, reducing the volatility and uncertainty associated with using cryptocurrencies as gas fees.

The integration of USDC as a payment method for gas fees provides several benefits. Firstly, it allows users to easily calculate and budget for gas fees, as the value of USDC is pegged to the US dollar. Secondly, it enables faster and more efficient transactions, as USDC transactions can be processed quickly on the Ethereum network. Lastly, it promotes wider adoption and accessibility of ZKFair, as users can easily acquire USDC from various exchanges and wallets.

ZKFair (ZKF) achieves scalability and cost efficiency through its use of zero-knowledge proof-based Layer 2 technology. The platform utilizes the Polygon Chain Development Kit (CDK) to create customized Layer 2 networks and the Celestia data availability layer to verify transactional data integrity. By operating as a Layer 2 solution, ZKFair significantly reduces transaction fees and improves scalability compared to directly transacting on the Ethereum network.

To address concerns of centralization, ZKFair plans to implement a decentralized prover network based on Lumoz, a ZK-rollup-as-a-service platform. This ensures that the generation of ZK proofs is not concentrated in the hands of specific network actors, promoting maximum decentralization.

ZKFair addresses the issue of centralized provers in Layer 2 platforms by implementing a decentralized prover network. In many Layer 2 platforms, the provers, which are responsible for generating cryptographic transaction proofs, are centralized, leading to concerns about concentration of power and potential network failures. However, ZKFair plans to employ a proof of work (PoW) prover network based on Lumoz, a ZK-rollup-as-a-service platform. This decentralized prover network will ensure that the generation of ZK proofs is distributed among multiple nodes, eliminating the risk of a single node failure and promoting decentralization. By decentralizing the provers, ZKFair aims to achieve maximum decentralization and address the weaknesses of centralized provers in Layer 2 platforms.

ZKF is the native token of ZKFair, a zero-knowledge proof-based Layer 2 scaling platform for Ethereum. Its core functions are staking and governance. By staking ZKF, users can earn rewards in voZKF, a token that allows participation in on-platform governance. Holders of voZKF can vote on the future direction of ZKFair, key changes, and revenue-sharing entitlements. ZKF has a maximum supply of 10 billion tokens, with nearly all of it (98.7%) fairly distributed through airdrops. The airdrops were conducted in a completely unbiased and fair manner, with no preferential treatment given to any participants. The remaining unclaimed tokens were burned.

The ZKF token was distributed through two major airdrops conducted by ZKFair between December 23, 2023, and January 11, 2024. During this period, 75% of the total token supply of 10 billion was distributed as a "gas fee airdrop" to early gas fee contributors on the platform. The remaining 25% was airdropped to participants recently interacting with partnering Layer 2 solutions such as Polygon zkEVM, zkSync, Scroll, Linea, ZKSpace, and Lumoz.

The token distribution was conducted fairly and unbiasedly, with no preferential treatment given to investors, team allocations, or vesting schedules. The goal was to ensure a completely decentralized and inclusive token distribution. Any unclaimed tokens from the airdrops were burned, further ensuring the fairness of the distribution process.