Contrary to popular belief, sometimes tech does matter, as it unlocks novel products that would otherwise be impossible.
Not saying this is responsible for the price movement, but all four projects build zk validiums:
- ZKsync Prividiums
- Scroll Cloak
- Mina zkApps
- Starkware StarkEx
State is managed off-chain but verified onchain, providing privacy and security.
Privacy: Validiums offer what I call "responsible" and pragmatic privacy: they provide individuals and businesses with privacy against public scrutiny, but the operator is responsible for, e.g., tracing hacks.
Security:
- Self-custody since ZK ensures the validity of state transitions
- Liveness via L1 forced inclusion
So after the crazy $ZEC run, degens out there are now pumping every random ecosystem with some kind of zk tech underneath?
Literally nothing is happening on zkSync, Mina Protocol, Scroll, Starknet, or any of the others, nor does anyone care about these chains.
It’s a pure narrative pump, just because another, completely unrelated asset performed well, and now everyone who missed that trade is desperate for the next play.
So much for “we won’t get another altseason where every shitcoin pumps and we see an obvious flight to quality amongst investors now.”
Nothing has changed lol. Just wait until we get a proper risk-on environment the next months and it’s going to feel like 2021 all over again.
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