What is ZK-UBI Marketplace and What It Means for The ZK Ecosystem?
Zero-Knowledge proofs (ZKPs or ZK proofs) are a powerful cryptographic tool that enable verifiable computation without revealing any information about the inputs or outputs. ZKPs have many applications in the blockchain space, such as enhancing privacy, scalability, and interoperability.
However, generating ZK proofs is a complex and resource-intensive process that requires specialized hardware and software. This poses a challenge for many blockchain protocols and applications that want to leverage ZK technology but lack the necessary infrastructure and expertise. This is where Swan Chain’s ZK-UBI Marketplace comes in.
What is ZK-UBI Marketplace?
The ZK-UBI Marketplace is a specialized market that bridges the gap between blockchain protocols and applications that need ZKPs with computing providers that can generate them.
This innovative marketplace allows protocols to outsource these computationally intensive tasks to a global network of providers on the Swan Chain network. These providers are incentivized through a unique Universal Basic Income (UBI) model, earning SWAN tokens for each completed task.
Learn more about ZK-UBI: “Swan zk-UBI: Building a Decentralized ZKPs Computing Market with Filecoin Integration”
How Does ZK-UBI Marketplace Work?
The ZK-UBI Marketplace operates as follows:
1. Task generation: Blockchain protocols and applications that require ZKPs generate tasks. These tasks could include verifying private transactions, proving data replication, or scaling network throughput.
2. Task storage: The tasks are stored in a multi-chain storage (MCS) system, which is a decentralized and secure data storage solution that supports multiple blockchain protocols. The MCS ensures the availability and integrity of the tasks.
3. Task import: The tasks are imported to the ZK-UBI market, which is a specialized marketplace for ZKP generation. The ZK-UBI market matches the tasks with the available computing providers on the network, based on their preferences and capabilities.
4. Task completion: The computing providers complete the computations. The computing providers are also known as CPs, and they use their own hardware, such as GPUs, to perform the tasks.
5. Task submission: The CPs submit the computing results back to the MCS. The results are also verified by the Swan validators to ensure the correctness and quality.
6. UBI distribution: The computing providers receive a UBI reward in the form of SWAN tokens, the native cryptocurrency of the Swan Chain, for their contributions.
Advantages of ZK-UBI Marketplace
The ZK-UBI Marketplace offers several advantages for both the ZK task requesters and the ZK task providers, such as:
- Scalability: By leveraging a global network of computing providers, Swan Chain can scale its computational capacity up or down based on the current demand for ZK proofs.
- Decentralization: The decentralized nature of the network ensures resilience and robustness, with no single point of failure that could disrupt the generation of ZK proofs.
- Incentivization: The UBI model incentivizes a wide array of providers to join and contribute to the network, ensuring a consistent availability of computational resources.
- Cost-Effectiveness: For blockchain protocols and applications, using Swan Chain’s ZK market is likely more cost-effective than developing and maintaining an in-house solution for ZK proof generation.
- Privacy and Security: The use of ZK proofs inherently enhances privacy and security, making Swan Chain’s offering particularly appealing for applications that handle sensitive data.
Vision: A Vibrant ZK Ecosystem
Swan Chain envisions the marketplace as a hub for distributing ZK tasks across various chains and projects, including Filecoin’s ZK-SNARKs. Currently, we're integrating Filecoin’s C2 stage ZK-SNARKs, the final step in proving storage commitments. This collaboration benefits both parties: Filecoin miners save resources, and Swan Chain providers earn additional income.
This initiative paves the way for a sustainable model for decentralized computing infrastructure and fosters cross-chain collaboration and interoperability. It serves as a prime example of ZK computation’s potential within the blockchain space.
Conclusion
The ZK-UBI Marketplace is a game-changer for the ZK ecosystem, as it creates a win-win situation for both the demand and supply sides of ZKP generation. By combining the economic and social benefits of UBI with the technological and cryptographic advantages of ZKPs, Swan Chain has created a unique and innovative solution that could revolutionize the blockchain space.
Become part of this transformative journey by joining Swan Chain Testnet and experiencing firsthand its innovative solutions!
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