RioDeFi Announces ZMorph: The Universal Layer2 Chain
This is the moment our community has been waiting for, the conclusion of months of research and development. The RioDeFi team is thrilled to announce that our latest incubated project, ZMorph, will launch soon! It will be the first Substrate based multi-way Layer2 Chain with a Zero Knowledge SNARKs Proof mechanism.
State of Interoperable Blockchain
Over the past twelve months, the blockchain industry has witnessed a fascinating turn of events with the rapid adoption of DeFi services globally and the rise to prominence of Non-Fungible Tokens. The emergence of the Metaverse now seems indissociable from the growing adoption of blockchain technology, cryptocurrencies, and NFTs.
The blockchain infrastructure landscape however has become increasingly complex and fragmented. To address the limitations of layer 1 blockchain infrastructures such as Ethereum, an ecosystem of sidechains has emerged enabling lower transaction fees and higher throughput.
The current ecosystem of layer 1 / layer 2 chains however presents two major issues:
- First it entails an increasingly complex, disjointed ecosystem that is hard to navigate, making for a poor user experience. As the number of applications and sidechains increases, the landscape of distributed ledger technologies is becoming more and more fragmented.
- Second is security. While Layer 2 solutions have proven scalable, their reliance on centralised custodian solutions poses a massive security risk.
RioDeFi incubated ZMorph as a means to address both limitations.
Introducing ZMorph: The Universal Layer2 Chain
ZMorph leverages Substrate interoperability features and Zero Knowledge SNARK proofs to implement a trustless multi-way sidechain.
ZMorph aims at providing a universal way to manipulate and synchronise asset states among various blockchains, including Ethereum, Binance Smart Chain, etc. To achieve this, ZMorph introduces a side chain to process most of the transactions that query or alter the state of these assets.
This side chain invokes the bridge contract on each blockchain to broadcast the change of the state through batched atomic update functions. Those bridge contracts leverage ZK-SNARK verification scheme to ensure the state updates are valid and then performs updates accordingly.
ZMorph relies on SNARK based batched updates to synchronise global states. Each batched update has a nonce and signature field. The batched updates together with the nonce are signed with ring signature.
Finally ZMorph will rely on RioChain’s native token RFUEL as an incentive and payment mechanism.
Applications and Roadmap
ZMorph has already entered its final phase of testing, and we expect the full audit to be completed by the end of October. In its first iteration, ZMorph will synchronize the state and support cross chain transfers between Binance Smart Chain and Ethereum. The ZMorph team is currently working on the integration of other blockchain networks such as RioChain, Polygon and Solana.
In the long term ZMorph will become a multi-chain synchronizer, a sort of layer 0 in the multichain era. We believe the ZMorph technology stack will prove invaluable to support the mass adoption of DeFi, NFTs and GameFi.
The ZMorph team will soon release their whitepaper and announce the full project roadmap, so stay tuned!
RioDeFi accelerates the mass adoption of digital assets by bridging traditional and decentralized finance. Our vision is a world in which everyone has access to decentralized financial (DeFi) services.
We develop solutions that connect banking institutions with blockchain systems. Our applications enable lower transaction fees, faster confirmations, more efficiency, better returns for savings account holders, and global reach.
To learn more about RioDeFi, please visit:
Telegram Channel: https://t.me/riodefiofficial
Telegram Announcement: https://t.me/riodefiofficial