ZK Coin is a very ambitious initiative in its field and its rise on November 1 was admirable. This project, which was praised by Vitalik Buterin just days ago, is even more visible with the technical upgrade. Zero knowledge proof Today, it is far beyond the level it was when we wrote “this area will grow” in 2021. ZK took a big slice of this cake and aims for more.
ZKsync (ZK) Price
ZK Coin, which jumped from $0.029 to $0.075, is stalling at $0.057 at the time of writing. Although it was one of the rare altcoins that could start November strongly, the negativity in the general market sentiment hit it too. Still, we can say that it is in good shape because the $0.048 support is maintained.
It could be even better. ZKsync founder Alex Gluchowski just offered suggestions to increase the utility of the altcoin. The founder, who proposes new ZK tokenomics by adding cross-chain fees and enterprise license revenues, wants to increase the price. For this reason, it expands the usage area and benefits of ZK Coin.
Future of ZK Coin
A significant income will be generated and this income ZKsync (ZK) will be used for development. After a capacity of 15 thousand transactions per second, the introduction of models that will directly benefit the ecosystem as the network is used is great for the future of ZK Coin. currently ZK Coin It is only used for governance and now more is needed.
About 1 year ago, ZKsync moved from a single network to Elastic Network with launch. It now includes more than two dozen networks that leverage secure, fast, infrastructure. Moreover, as interoperability strengthened, Prividium moved from the concept phase to the real corporate adoption phase. Many financial institutions are working to use this infrastructure.
Alex Gluchowski implies that they have now progressed to the explosive growth phase and suggests that the income be transferred to items such as the buyback program, ZK burns, treasury fund for ecosystem development.
“The upcoming ZKsync native interoperability protocol will enable secure, near-instantaneous transport of assets and messages between public networks and private Prividiums. Elimination of storage risk and capital requirements significantly reduces costs and increases accuracy. In this regard, modest protocol fees will not be a barrier. They will remain significantly lower than existing alternatives, as well as provide stronger guarantees and faster reconciliation.”
In terms of scale, interbank messaging is already operating at extraordinary volume. SWIFT processes more than 50 million messages per day, reaching tens of billions of messages annually. If private networks become as ubiquitous as corporate banking infrastructure, interoperability and messaging will be a constant and fundamental element. In this environment, protocol-level interoperability fees are a simple and transparent source of sustainable value for the network, whether measured in basis points, cents, or dollars, depending on the value and use case. “Moving even a modest portion of global coordination activities to cryptographic, Ethereum-based systems would create a meaningful and durable economic foundation for ZKsync.” –Alex Gluchowski
In short, it emerged only for governance. ZK Coin Creating additional benefits and areas of use for it brings concrete steps to increase its price. Realizing the disappointment of the “great job, terrible token price” story we see in many cryptocurrencies, Alex does what he has to do.
Some cryptocurrency Their startups are doing great work, forming great partnerships, but their tokens are constantly losing value. However, these tokens are very important for the funding of the initiative, and their devaluation negatively affects the future of the initiative. The fact that the ZK team has created its vision well at this point is promising for the altcoin.
