Zap Protocol
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Zap Protocol

Zap April/May Update 2020

First CoinGecko Oracle Test Phase Finalized, Initial Oracle Offering Date & Time to Come

Zap announced its partnership with CoinGecko, the leading cryptocurrency and digital asset market data website, back in March 2020 just before the Covid19 pandemic caused governments across the world to issue stay at home orders and close travel and economies. During the pandemic, Zap continued its development, and now announces it has developed the first of the oracles CoinGecko needs to offer its cryptocurrency market data in a way compatible for smart contract use.

We finished our internal testing phase and are preparing an initial oracle offering (IOO) for CoinGecko’s first data oracle. Data users and customers soon will be able to bond to this curve and receive a secondary token which can be redeemed for a data call or sold back to the bonding curve’s smart contract based on the price reflected at any given time.

Since our last monthly update, it has been confirmed that Binance acquired CoinMarketCap.com. In our view, this officially makes CoinGecko the world’s pre-eminent independent site for market data and enhances Zap’s position as a valued strategic partner with CoinGecko. Zap soon will provide the decentralized asset class this important tool for furthering the development of decentralized applications.

Partnership with Blockchain Center

Zap is partnering with and joining the large and growing network built by the Blockchain Center. This is expected to accelerate awareness and education involving the Zap Protocol.

The Center began in Miami and then spread to Raleigh, NC & New York City. Blockchain Centers are also forming to expand an international presence in Cannes, Copenhagen, Colombia and Armenia.

Among the weekly Blockchain Center events, resources, live-streams, podcasts, hackathons, and meetups (virtual due to the pandemic), our distributed Zap protocol will have access to these outlets to promote our revolutionary technology to the Center’s diverse and international audiences.

FIGHTING COVID-19: REWARD SYSTEM IN DEVELOPMENT:

Zap developers are working on producing a system that allows holders of a specific token to earn rewards for committing their CPU towards protein folding for simulating protein dynamics. By doing this, Zap users provide valuable data that scientists use to better understand biology and provides new opportunities for developing therapeutics.

This model can be used by any entity which looks to increase CPU contribution by rewarding participants. Traditionally, computing power has been donated by individuals. The model will also allow rewards for those who want to fight many other diseases such as Alzheimer’s, Parkinson’s, Zika, and Ebola.

UI Updates Being Implemented

We have coordinated with our developers to determine the most effective way to present the mainnet platform as well as Zap.org. The implementation of the vision has now started. We will be providing periodic updates of how things are coming along and look for user input and github commits which would only better enhance the final result.

Zap In the Media

The Zap protocol was recently featured in an article by Cardrates.com, detailing a few of the use-cases and potential made possible by bonding curve technology. Here is a sample from the article:

“Automated market makers provide liquidity in electronic financial markets through sophisticated algorithms governed by game theory. For example, Zap uses modern economic principles coupled with an algorithmic market maker to replace the antiquated bid/ask spread based in traditional exchanges. Participants in trades involving our bonding curves are guaranteed liquidity as they are always able to buy and sell.

‘The bid and the ask happen within the smart contract,’ Spanos said. ‘It’s completely decentralized finance. You can create gift cards, sell your data sources, market your services, or anything else.’”

To read the full article, click the following link: https://bit.ly/2XzsggK

With Covid-19 Nearly Conquered It’s Time to Rebound

These past few months have been difficult for people worldwide. But with reopening in action or planned to soon take place in many places, particularly in the Northern hemisphere, it is believed a return to “relative” normalcy is close.

Our initiatives and business development may have been slowed to the extent that third parties, potential partners and user groups have been much more seriously disrupted by the pandemic, individual health issues, government orders, travel restrictions and other emergency measures. But now some countries and regions are “re-opening” although a return to the world prior to 2020 cannot ever be assured. We are finalizing more significant partnerships and will update you once they are official.

Visit: zap.org | tech.zap.org | medium.com/the-zap-project | twitter.com/zapprotocol | discord.gg/pvHzemX

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