Recap | zkTube AMA with CryptoNesia Global

Last week, zkTube Labs x CryptoNesia Global, here is the AMA Recap provided by CryptoNesia Global.

Hello everyone, we would like to tell you about the AMA session with zkTube Team, Dave — Director of Development, Mo — Global Marketing Advisor, Janet — BD of Asia. This AMA took place on 17 June 2021 at 5 PM (GMT+7). The total Reward Pool Was $100 and it was split among 10 Winners.

INTRODUCTION SEGMENT

Q1. Before we discuss more zkTube. Can you introduce yourself to the community? What is your background and how did you build zkTube?

Answer:

Mo hamdouna, based in Melbourne. Background in digital product management and international marketing. Been involved in the crypto space since 2016 and I led Australia's top ICO campaigns to big success like canya, shping invox finance, and more.

Now working with the zkTube team on global marketing, localization, and growing our partnership network.

Q2. Can you briefly describe what is zkTube to us? We want to know more about it.

Answer:

Zktube Labs is based in Melbourne Australia, which starts to build zkTube protocol in 2020 with a worldwide team base on the approved concept, it is changing the crypto payment with cutting-edge technology for the financial revolution. Zktube is the scaling Ethereum with zero-knowledge proofs. It aims to be the most viable technology to enable the mainstream adoption of public blockchains.

Q3. Can you explain to us, what makes zkTube different from other competitors?

Answer:

Since the launch of the testnet, zkTube has gained the focus of the industry and focused on layer2. The reason is the technical improvement and optimization based on zk-rollup, as follows:

Large packaging and state root isolation
zkTube adopts a single-to-batch packaging method to separate the batch and status submission processes of the second-tier submission:

Different from the latest method, zkTube separates batches and sorts them according to time. When they are submitted to the Ethereum warehouse, they will be certified and verified, and updated with the status, so that the operator can submit multiple batches at a time. Some operators can also submit different batches at the same time. The advantages of this are:

① some sorters can publish at the same time to improve the obstruction of review, and avoid some batches being packaged first and causing other batch input problems.

②if a certain state root is invalid, we do not need to roll back the entire batch, we can only roll back the state root and keep the new state root of the batch. This ensures that the transaction of the transaction sender will not be rolled back.

Q4. What are the major milestones zkTube achieved so far?

Answer:

Regarding the progress of cooperation. The current zkTube technical team has participated in the development of Uniswap V3 and has also obtained Uniswap V3 hackathon granted. The deployment of Uniswap V3 on Layer 2 will cause many applications to migrate to zkTube, and zkTube Protocol also provides extended services for more products in the DeFi field.

Helping Uniswap V3 explore Ethereum’s expansion, cost, privacy, and security will improve capital efficiency and liquidity, reduce oracle gas consumption, and increase cost levels. Since the launch of the zkTube project, we have achieved good results and recognition in the industry, and we have been deeply involved in it, and explore more bold ideas with outstanding developers and enthusiasts around the world.

Q5. Last question from Introduction Segment. What are your further plans for zkTube that you guys can share with us here?

Answer:

Our future plan is here to support our main mission, which is to be the most viable technology to enable the mainstream adoption of public blockchains. We are going to soon release our new platform and unique proposition for an airdrop campaign that will use a referral mechanism that will help us reach a wider global community. By June 30, and starting with an elite team of community members, we will launch an exclusive bounty program with the aim to strengthen the adoption of the PayTube wallet adoption and mainnet launch.

Besides that, we are in the final touches of putting a recurring online webinar or global meet up that will keep the community on to date with all the zkTube updates which will allow you to hear leader thoughts on the progress of the project. Finally, and from our understanding that this success of the project is dependent on the global uptake of the project, our team will be joining major global events and hosting others from now till the next 6 months and beyond. Our relationships here in Australia with decision-makers and community leaders will help raise the profile of the projects and hopefully soon you will hear about exciting new partnerships. I wish I can share more but I bet you all like interesting news. Stay tuned. Let me know if you have any questions about the above or hit the team if you want to join our exclusive bounty program.

Twitter Segment

Q1. From @truongtran0305

Do you have any plans to expand your project to various blockchains like Matic, algorand,Cardano, etc.

Answer:

At this stage, the projects deployed on the layer 2 network are in their own islands, how to interact with each other, how to connect different expansion schemes and various blockchain protocols, and to maintain the best-known composability and collaboration of the DeFi protocol, this is what zkTube is constantly exploring. At present, there are not many infrastructure ecosystems related to rollup. The principle of cross-rollup transfer mentioned in the Vitalik proposal mainly introduces Ivan, a middleman, to support cross-rollup transfer.

In the zkTube Protocol, in order to ensure the timeliness, stability, and security of the network, an operator mechanism optimized based on prover is adopted. The operator acts as a collaborative role for cross-rollup transmission. Through independent batch packaging, the batch submitted to the second-level transaction and the process of submitting the state root are separated and sorted according to time, and then the proof verification and follow-up are performed on the first layer of Ethereum. The new root state, so that operators can submit multiple batches at the same time, and multiple operators can also submit different batches.

At present, zkTube Labs is already developing its own virtual zktevm. When there is a rollup that supports the complete zktevm, it will be very simple to implement cross-rollup transactions, and the speed will be very fast when it extends to various other blockchain protocols. You only need to redeploy once in zkTube, because the data is on the chain, just data migration. We will put these work items on the agenda as soon as possible, and more users will move to zkTube at that time. In the future, as zkTube’s technology gradually matures, it will bring together a multi-chain ecosystem to support a variety of encrypted assets and liquidity.

Q2. From @Arriiiaaaannnnn

PayTube is a revolution of decentralized digital currency payment wallet, and PayTube’s aim to become the most user-friendly digital wallet. There are various types of digital wallets available in the crypto world. I need to know How is PayTube different.

Answer:

First of all, we have made a lot of innovations on the PayTube wallet. In terms of security, PayTube is a contract-only wallet. Its main advantage is that it is not afraid of asset losses. Paytube is more secure than existing wallets. In addition, another advantage of PayTube is that users can directly buy/sell cryptocurrencies, Dapp exploration, mining deposits, insurance, games, and many other decentralized financial application operations on layer2 are also supported. And access the wallet through any Ethereum square app to establish a key link.

PayTube wallet will support:
1. The account balance transfer between the l1 and l2 accounts is converted from the system;
2. The account balance transfer between the l1l2 account and the account is not owned;
3. The cost of NFT is almost zero;
4. zkTube Dapp seamless connection;
5. More than 40 stable currencies, including USDT, USDC, TUSD, GUSD, euros, etc.;
6. More than 100 ERC-20 tokens, including ETH, WBTC, DAI, PAX, etc.

Secondly, application providers can also directly put their Dapp on PayTube and directly connect to the PayTube l2 account for related operations. According to the current development plan, PayTube wallet will release a test version on June 30, and then PayTube 1.0 version will also provide users with basic PC and mobile terminal functions, such as deposits, withdrawals, transfers, purchases, and sales. At the same time, PayTube wallet will provide ios and android end users to download and use. Provide users with a convenient, low-cost Layer 2 payment environment and N+Dapp solutions. I believe you will see the details after going online.

Q3. From @MOhameD211a

Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?

Answer:

Regarding the timeline and stability of smart contracts, zkTube uses an operator mechanism optimized based on prover. Through the zkTube incentive mechanism to effectively stimulate the enthusiasm of the operator, zkTube designed a complex mechanism to ensure that the operator does not do evil, according to the frequency of personnel submission, the submission duration, pocket and other parameters to carry out the operator’s immediate quality, you can get ZKT rewards through the zkTube reward mechanism.

Code vulnerabilities and pseudo-decentralized codes are also major drawbacks of smart contract security. Therefore, before the mainnet goes live, we will conduct a review at the smart contract agency to provide users with more secure and reliable basic services.

Q4. From @Ibrahem24254134

Can you list 1–2 killer features of this project, that make it ahead of its competitors?

Answer:

So hard to select just 1 or 2 killer features… Here are 4 features that I love about the project

  1. Low gas fee and high throughput

2. Safety guarantee at the level of Ethereum mainnet
3. Quick transaction verification
4. Transfer payment received in a real-time

Q5. From @luckyjem02

A strong community not only brings interesting ideas to the project but also attracts larger partners. So how is zkTube planning to build its community? And is there a plan to recruit people with blockchain experience to the zkTube team?

Answer:

As I have been involved in different crypto and ICO projects before, I have a super-strong network in the blockchain space globally. So I’m doing my best to bring all this value on board we have already onboarded people from blockchain experience — either from other crypto projects like jet yup from canyacoin (Australia second-biggest ICO in 2017). We will be announcing more very soon. But yes the plan is to bring top minds over to support our tech and growth.

As per the community, we are establishing multiple communities by signing up strategic agreements with partners to access their network, collaborate with different crypto projects and companies, and launch specific programs. We are preparing different activities for each new communities to establish a ripple effect to grow it further. We also just launched our major airdrop campaign that shall grow our commuting further as it depends on community stakes

Check it out https://zktube.moworks.co/

And a bounty program that rewards our amazing community on their effort to grow our reach.

It will live for the next 6 weeks.

https://bitcointalk.org/index.php?Topic=5344198.0

LIVE QUESTIONS

Q1. According to the project’s roadmap- what are your most important next priorities? Does your team have enough Funds and Community to achieve those milestones?

Answer:

First of all, every step of our work plan is critical to development, and we value each milestone. Right now, we focus to launch our PayTube wallet and zkTube mainnet, according to our roadmap, they are going to be online soon.

We opened our first round of whitelist last month, and we raised over $2m in a very short time, since then, our community members are eager to wait for the next round of whitelist, so, we do not need to worry about any kind of fund problem, as zkTube protocol is really a hit in the market.

Q2. What is the Main FOCUS of your project?

Customers
Partnerships and Collaborations
Security
Products

Answer:

Happy to answer this one — as I found many users asking similar questions. All of what you mentioned are main points for us, let me explain:

To get customers/community, we need a great product that solves real issues.
To keep customers we need to ensure our product is secure
to grow our community and usability of the product, we need to foster more partnership.

How we are doing it all? Our team isn’t small and we get a dedicated team for each one of them.

Hope this answers your question.

Q3. Why you choose Ethereum for the network? Are you have some special goals or some focus on this network?

Answer:

Now everyone is working hard to find a way to solve the problem of congestion and high transaction fees on the Ethereum main network, so Layer 2 solutions have emerged, including Ethereum itself is also trying to do the beacon chain, the principle of the beacon chain and layer 2 the principle is similar, and all transactions are processed by rollup. I believe that the existing layer2 will become a very important part of the ethernet ecology in a suitable way in the future. As for the pos system, it means more intensive consideration. The zkTube agreement will restrict the mining festival, requiring nodes participating in mining to require them to pledge certain assets. Once a malicious situation is discovered, heavy penalties will be imposed.

Q4. What wallet does your project support or do you have your own wallet?

Answer:

First of all, we have made a lot of innovations on the Paytube wallet. In terms of security, Paytube is a contract-only wallet. Its main advantage is that it is not afraid of asset losses. Paytube is more secure than existing wallets.

In addition, another advantage of Paytube is that users can directly buy/sell cryptocurrencies, Dapp exploration, mining deposits, insurance, games, and many other decentralized financial application operations on layer2 are also supported. And access the wallet through any Ethereum square app to establish a key link.

PayTube wallet will support:
1. The account balance transfer between the l1 and l2 accounts is converted from the system;
2. The account balance transfer between the l1l2 account and the account is not owned;
3. The cost of NFT is almost zero;
4. zkTube Dapp seamless connection;
5. More than 40 stable currencies, including USDT, USDC, TUSD, GUSD, euros, etc.;
6. More than 100 ERC-20 tokens, including ETH, WBTC, DAI, PAX, etc.

Q5. As I know, zkTube Protocol can migrate from L1 to L2 gradually, how long will it take for this migration? Is this transfer expensive? how about the security?

Answer:

Whether a project can migrate to zkTube depends on whether the project is running on Ethereum EVM. Currently, zktvm, the virtual machine developed by zkTube, supports all EVM contracts, except that the Ethereum foundation will soon remove opcode.
At present, the transfer between Layer 2 is free on zkTube network. If there is a charge in the future, the charge will be around $0.01, so the cost is very low.
The main function of zkTube’s prover is generated and proved, so it will not involve any security influence such as evil, and ultimately will not affect the user’s assets. It could have been made by zkTube or some institutions, but zkTube adopted the following de-centralization purposes:
1. Zktube tries its best to make an ordinary computer provide prover so that more users can participate in mining rewards;
2. Preventing various authorities and avoiding a single point of risk;
3. Prevent an organization or a combination of organizations from manipulating zkTube behavior.

Contact

Website: http://paytube.io/
Telegram Group: https://t.me/zkTubeProtocol
Twitter: https://twitter.com/zktubeofficial
Facebook: https://www.facebook.com/zkTube.official
Discord: https://discord.gg/ZhcSuxhX4S
Medium: https://zktube.medium.com

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