Zircuit, one of the most awaited ZK-Rollups, launches its mainnet phase 1 with exciting competitions, giveaways, and surprises. Designed as the Zircuit Mainnet Festival, the program will reward ZRC tokens for the winners.
Zircuit already has 2.5 Billion worth of assets staked in its staking program, with dozens of projects deploying their apps through the protocol in the coming days. Zircuit is recognized by the stakers as an innovative project.
The Zircuit ZRC Airdrop
The Season 1 of the ZRC airdrop campaign is over and the Season 2 is live. The claim is open now for the users who participated in the Season 1. They can visit the claiming page of Zircuit to grab the tokens.
The Season 1 Airdrop rewarded early stakers, partners, and builders who contributed to the Zircuit ecosystem. Season 2 is live since July 7th, 2024. Also, an additional 14% of ZRC is locked for future airdrop rewards.
What are ZK-Rollups?
Zero-Knowledge Rollups aka ZK-Rollups are the Layer 2 solutions for smart chains like Ethereum. Primarily they reduce the computational power of the main chain. This will increase the demand for ZK-Rollups in the climate-friendly future.
With ZK-Rollups, Ethereum validators can prove the genuineness of the transaction without revealing the transaction details. With this method, users can execute smart contract computations off the blockchain in batches, and submit to the main chain later.
What is Zircuit?
The most used Zk-Rollup as of now is zkZync. There are many competitors for zkZync, and Zircuit is the latest addition. Zircuit can increase the number of transactions with less gas usage. This significantly reduces the data usage minimising the carbon footprint. Here are some of the useful characteristics of Zircuit:
- L2 Research Grants: Zircuit is one of the very few projects that received research grants from the Ethereum Foundation. They have been researching for the past one and a half years. The input from the research is visible in the network.
- High-Level Security: Zircuit’s algorithm monitors transactions from the sequencer level and prevents their execution in the block. The devs call it Sequencer Level Technology.
- Ethereum dApps: Zircuit is compatible with all the Ethereum apps. Also, it supports major wallets like MetaMask. Users can integrate tools like Hardhat. The friendly user interface lets the users deploy dApps without any programming knowledge.
The ZRC Token
The native token of Zircuit is ZRC. It is used for governance, staking rewards, gas fees, and other purposes. At present, the token is in a test phase and can be used only by the early adopters. Here are the particulars:
| Token Ticker | $ZRC |
| Total Supply | 10 Billion |
| Contract Address | 0xfd418e42783382e86ae91e445406600ba144d162 |
Zircuit Mainnet Festival
The festival offers a chance to win 100,000 ZRC tokens through various activities. Besides normal transactions, users can be eligible by interaction and deployment of dApps. Zircuit will collect the signatures from the stakers who migrate from Ethereum to Zircuit. The staked coins will not be released until the later phase of the mainnet.
The Gas Mining rewards of the airdrop works by rewarding the users who spend ETH. For every ETH transaction, users will get 125% in ZRC tokens. There is a reward simulator to calculate the rewards. Only the ETH bridging will be available on the mainnet launch.
The Future of ZK-Rollups like Zircuit
ZK-Rollups provide scalability, privacy, and security. With the emerging regulations and climate concerns, ZK-Rollups will be preferred by governments and institutional investors.
However, the competition is so high that more and more ZK-Rollups are arriving in the Web3 environment. Zircuit is a prime candidate to compete with current major ZK-Rollups like zkSync, StarkWare, Loopring, and Polygon Hermez.
This competition will aid the innovative nature of Web3, and if Zircuit provides nuanced technology for blockchain users in its future updates, then we can see an increase in the number of transactions.
Final Thoughts
The ZRC tokens airdropped are currently non-transferable. Also, The ETH that is staked cannot be released until the last phase of the mainnet. There are no announcements about the ending phase. Nevertheless, the 2.5 Billion tokens locked give the users assurance and trustworthiness.
Zircuit ZK-Rollup seems like the best Layer-2 solution at the present moment. Anyhow, new technological advancements will outcast the current infrastructure, so it is important to find Web3 solutions that can adapt to the future. Also, the cryptocurrency market is volatile and proceed with caution. DYOR!
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