On March 11, 2024, ZKBase officially launched its latest decentralized exchange platform (DEX)-ZKSwap (Bitcoin) V0.1 testnet version. The launch of this platform marks a new definition of Bitcoin mainnet transaction efficiency, security and scalability. The address of the ZKSwap (Bitcoin) testnet version is: ZKSwap testnet.
Product features
The design concept of ZKSwap (Bitcoin) testnet DEX products is to improve the security and efficiency of transactions through multi-signature asset management and future zero-knowledge proof (ZK) technology. The platform not only supports the exchange of Bitcoin and BRC20 assets, but also overcomes the limitations of the Bitcoin network in terms of transaction speed and high handling fees.
Reduced transaction costs: ZKSwap significantly reduces transaction costs compared to transactions on the Bitcoin mainnet. When users trade BRC20 assets on ZKSwap, they can enjoy lower transaction fees, and the transaction confirmation speed has also been significantly improved, enabling second-level transaction confirmation. This optimization allows users to enjoy a smoother and more economical experience when trading.
Fast transaction confirmation
On ZKSwap, users can experience fast transaction confirmations that are unmatched by the Bitcoin mainnet. This second-level confirmation capability not only improves user experience, but also provides strong support for DEFI applications of ecological assets.
How to participate: For users who want to participate in the ZKSwap test network, the operation is very simple. Here are the specific steps to participate:
Receive testnet BTC tokens: Visit the ZKSwap official website to receive Bitcoin testnet tokens.
Login: Use the BTC testnet address in Taproot format to log in to ZKSwap.
Recharge, exchange, and increase liquidity: Complete the steps for recharge, exchange, and increase liquidity according to the guidelines provided on the official website.
Manage my liquidity: Users can manage and adjust their liquidity on the "Pool" page.
Withdraw coins to the Bitcoin testnet: After the test is completed, assets can be withdrawn to the Bitcoin testnet.
For detailed operation tutorials, please refer to: ZKSwap Testnet Operation Tutorial.
future plans
The ZKBase team is not satisfied with its current achievements. They plan to gradually introduce more types of asset protocols, such as Atomics, Stamps, Runes, etc., to enrich the types of assets that can be traded on the platform. This move will allow ZKSwap to not only trade BRC20 assets, but also provide users with diversified asset choices.
Build a close integration of main network and second-layer transactions: In order to reduce the gap between the main network and second-layer transactions, the ZKBase team is working hard to build a product mechanism that closely integrates main network asset issuance and second-layer transactions. The implementation of this mechanism will greatly improve the security level of asset management and provide users with a more convenient operating experience.
The importance of community involvement
ZKBase sincerely invites community members to participate in the testing of the ZKSwap (Bitcoin) testnet and experience its unique features and advantages. User feedback is crucial to the continuous optimization of the product, helping the team to continuously improve and provide users with better services.
In this rapidly developing blockchain field, the emergence of ZKSwap has undoubtedly brought new possibilities to Bitcoin transactions. Through its low-cost and efficient trading experience, ZKSwap will play an important role in the future decentralized finance (DEFI) ecosystem.
Conclusion
With the launch of the ZKSwap (Bitcoin) V0.1 testnet, users will be able to experience a more convenient and efficient transaction method. Whether for novice or experienced traders, ZKSwap provides a platform worth exploring. We hope that every user can actively participate and share your experience, so that we can witness the growth and development of this innovative platform together.