Zerion Teases Launch of ZERO Network, a Layer 2 Network on Ethereum, Promising Feeless Transactions to Democratize Access to Cryptocurrencies
Zerion, a cryptocurrency wallet and tracking app, is embarking on an ambitious project with the development of its own Layer 2 network called ZERO Network, promising zero fees.
Set to launch between the end of the second quarter and the beginning of the third quarter of this year, this Ethereum-based network promises a revolutionary feature: the complete absence of fees for its users.
Vers une Démocratisation de l’Accès Aux Cryptomonnaies?
The main objective of this network is to facilitate the integration of newcomers into the world of cryptocurrencies by eliminating the financial barriers associated with transactions.
“Ultimately, we realized that for the end user, fees should not exist,” says Evgeny Yurtaev, co-founder of Zerion.
A Business Model Based on Fee Subsidies
The major question lies in the economic viability of offering free transactions. Zerion plans to subsidize these fees, which is considered an investment that will gradually decrease thanks to future improvements in transaction fee management. Yurtaev specifically mentions blobs, a recent innovation that has significantly reduced costs on Layer 2 networks.
Combatting Spam and Future Collaborations
With the potential attraction for malicious activities such as spam, Zerion intends to implement thorough verifications to distinguish legitimate transactions from abusive ones. Additionally, the company aims to forge partnerships with dapp developers to share the financial burden of fee-free transactions, allowing dapps to cover the costs for their users.
Zerion remains discreet about the technical specifics of this EVM-compatible Layer 2 network, particularly regarding the technologies it will be built on. However, Yurtaev reveals that Zerion is collaborating with unspecified partners for the launch, and discussions are ongoing regarding the data availability layer to be used.
