On the Mainnet, Zircuit is now operational! Through the Build to Earn program, which is intended for developers, users can find opportunities, join the liquidity hub, or explore the dapp ecosystem.
The EVM-compatible zero-knowledge rollup that drives web3’s boundless potential is called Zircuit. Supported by groundbreaking L2 research, the network has distinctive hybrid architecture. It offers developers the best of both worlds by fusing zero-knowledge proofs with tried-and-true infrastructure. Users can explore new frontiers with speedier transactions, lower costs. And total peace of mind because to state-of-the-art sequencer-level performance and security.
Why Zircuit?
They have been at the vanguard of research on subjects like scaling cryptography, rollup compression, and rollup security tooling for the past year and a half. The Ethereum Foundation has awarded us many L2 research funds for this work.
By keeping an eye out for harmful transactions in the mempool and blocking their inclusion in a block, Zircuit will safeguard users at the sequencer level. Zircuit’s ground-breaking method goes straight to the fundamental sequencer level. In contrast to conventional security initiatives that concentrate on the application and smart contract levels.
Safe Native Bridge
The best security architecture and safety procedures are incorporated into Zircuit’s native bridge infrastructure. The canonical bridge maximizes user security while being simple and intuitive to use.
Innovative Performance
Zircuit increases efficiency and reduces operating costs by breaking down circuits into specialized components and combining proofs. Users gain from quicker and less expensive transactions when combined with larger transaction batches and expedited proof processing.
Application Compatibility for Ethereum
Zircuit is compatible with all of your preferred Ethereum applications. It supports Hardhat and all of the major wallets, including MetaMask. Easily deploy Ethereum dApps without having to pick up a new framework or programming language.
In summary, how does Zircuit operate?A rollup chain has two actors: the user and the sequencer.
By delivering SNARK proofs, the team is able to update the account Merkle tree on-chain. RPC/APIs are used by users to communicate transactions with signatures to the sequencer. The SNARK circuit processes the batch that the sequencer prepares after compiling all of the transactions. The circuit emits a proof if it determines that every transaction in the batch is legitimate. This validity proof, which shows that the state was correctly modified off-chain, will be submitted and validated on-chain. The Merkle tree of the on-chain account is updated as a result.
What distinguishes Zircuit from other L2s in terms of circuit handling?
Zircuit divides circuits into quick parallel operations using patented proof aggregation technology. As a result, numerous smaller proofs are produced more quickly and are subsequently combined by Zircuit.
What is meant by the phrase “security at the sequencer level”?
Zircuit services will continuously scan the mempool for exploit contracts, malicious transactions, and other threats. Moreover, Zircuit can stop them from being added to the following block. Once they have been identified and confirmed to be malicious. This implies that every Zircuit transaction will be subject to security tests. It makes the chain safer for end users and projects.
Is Zircuit in possession of a token?
Zircuit does not yet have a governance token and uses native Ethereum.
Hub for Zircuit LST/LRT Liquidity
The amount of cryptocurrency risked on a Proof-of-Stake blockchain (like Ethereum) or in a liquidity pool is represented by a Liquid Staking Token (LST). Even when the underlying asset is locked, an LST can be moved and utilized for DeFi purposes. Likewise, an asset that has been utilized for several staking or DeFi operations. (i.e., restaked), such as securing several protocols at once, is represented by a Liquid Restaking Token (LRT). Improved capital efficiency of staked capital is possible with both LSTs and LRTs.
Even while customers have been able to utilize LSTs for their staked Ethereum for a few years, the LRT market is still very new and changing quickly. There are always new LRT protocols coming out (such letting customers restaste their Bitcoin),
By developing into a significant liquidity hub for restaked ETH, BTC, LSTs, and LRTs, Zircuit seeks to solve this issue. It enables users to allocate their capital with ease and to rest easy. Therefore they know that their money is being deployed in accordance with the best and safest standards. As of June 2024, Zircuit has collected around $3.5 billion in ETH, LST, and LRT deposits in a matter of months, proving its capacity to draw in capital.
Technically speaking, Zircuit is a Zero-Knowledge Layer 2 rollup that launches on the Ethereum network and is compatible with Ethereum Virtual Machines (EVMs). Zircuit’s primary objective is security, in addition to providing significantly reduced network fees and better transaction throughput than the Ethereum mainnet. Zircuit uses its unique AI-enabled technology, Sequencer Level Security (SLS), to stop unauthorized transactions and hacks.
Using LST/LRTs to Bootstrap Zircuit Liquidity
Because LST and LRT methods were able to balance their relatively high yields, ease, and safety, they were able to draw consumers and a sizable Total Value Locked (TVL). To give consumers more Zircuit incentives on top of native LST/LRT yields, Zircuit has partnered with top LST and LRT protocols (among others; see Zircuit Stake for a complete list). In addition to the underlying LST/LRT yields, users can earn Zircuit rewards and contribute to bootstrapping Zircuit’s liquidity by staking a compatible asset into the Zircuit staking contract (on the Ethereum mainnet).
Zircuit L2 as a Liquidity Hub in the Endgame
LST procedures’ yield, ease of use, and safety have already shown their effectiveness. We anticipate a similar adoption trajectory for LRTs. LRTs will probably differ as they develop according to operators, decentralization factors, reducing hazards, yield rates, and the AVS they secure. It should be noted that because LRTs represent assets that are staked in numerous projects at the same time, they are naturally more vulnerable to hazards than LSTs. Therefore, compared to LSTs (where the impact is limited), a single cutting incident may have a far greater impact. They anticipate that traversing this terrain will grow increasingly challenging in the future.
Through strategic partnerships with top-notch processes and assistance in implementing rewards tracking directly on the rollup, Zircuit will continue to support the development and adoption of both LSTs and LRTs. In order to safeguard additional networks and protocols that are deployed outside of the rollup, Zircuit will also enable native staking on its network through a number of connectors. By improving Ethereum’s transaction speed and cost, Zircuit will provide its customers with the safest and most convenient yield opportunities in a secure environment. For restaked ETH, BTC, LSTs, and LRTs, Zircuit aims to develop into a significant liquidity hub where users and protocols may be matched quickly and simply.