Zecrey Protocol, a ZK rollup-based Layer 2 data protection protocol, has just announced that its public test network will be launched on December 31, 2021.
With DeFi’s prosperity, crypto wallets have gradually grown in importance in the context of a more diverse blockchain ecosystem. Due to the very common pseudonymity in cryptocurrencies, most people are unaware of data protection and most operations lack adequate data protection measures. It is therefore imperative to find a solution to this problem.
Several data protection-related dApps and protocols have been created for this purpose. However, they showed significant limitations in terms of the complexity of the transactions and often had to sacrifice privacy for higher transaction volumes and a better user experience. The Zecrey team tried to find a comprehensive solution to protecting privacy for the benefit of its users by developing a cross-chain service that was scalable, programmable and lightweight at the same time.
One of the key features of Zecrey Protocol is that it is an all-in-one, multiple chain crypto wallet that offers privacy as one of the best ZK rollup, Layer 2 solutions that have been developed at the forefront of their innovation is blockchain. The dApp combines a familiar wallet design with improved accessibility by allowing users to manage multi-chain assets without switching networks.
With Zecrey, users can access data protection services for their assets and transactions with just one click, efficiently conduct cross-chain transactions and cross-chain swaps, and interact with external dApps.
What makes Zecrey unique
One of the core features of the Zecrey wallet is its cross-chain bridge functionality, which enables groundbreaking transactions between layer 1 and layer 2 in the form of deposits and withdrawals. This way, users could deposit Layer 1 assets into Zecrey’s Layer 2 and then withdraw assets into any Layer 1 blockchain compatible with the Zecrey wallet.
In addition, the Zecrey protocol has a highly efficient AMM-DEX, so any assets deposited on Zecrey Layer 2 could also be added to the liquidity pool for additional benefits. In conjunction with Zecrey’s cross-chain functionality, users can exchange assets in Layer 2.
Additionally, wallet users could be rewarded with various locking and staking rewards for their contribution to the Zecrey liquidity pool. In return for locking assets to the Layer 2 liquidity pool, users are rewarded, receive a percentage of transaction fees, and other rewards.
Finally, the transactions executed by Zecrey Layer 2 benefit from unprecedented data protection through a mechanism designed to encrypt transactions as they take place on the blockchain and maintain privacy for detailed information on transactions.
How to participate in the public test network
The public test lasts until January 31, 2022. Users can install the plug-in wallet to test the functions during the public testnet phase. The functions mainly include Transfer, Deposit and Asset Lock on Layer 1, Transfer, Cross-Chain Swap and Withdraw on Layer 2. We recommend that users read the Zecrey manual for more information and instructions on the Zecrey protocol and product receive.
During the public testnet phase, you can submit the feedback form with experiences and suggestions about the product. You can also provide feedback and ask questions on Zecrey’s Discord and Telegram channels. And follow the Zecrey Protocol on Twitter and Medium so you don’t miss any upcoming activities.
Welcome to the Zecrey community!
Official website: https://zecrey.com/
Twitter: https://twitter.com/zecreyprotocol
Medium ： https: //medium.com/@zecrey
Telegram: https://t.me/zecrey
Discord: https://discord.com/invite/U98ghQsJE5
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