zkCross Network Uses ICP to Securely Power Fully Decentralised Cross-Chain DeFi Transactions
Youtube Video: https://youtu.be/xUaE6Pe4p5s
1.0 Project Highlights
zkCross Network is a DeFi chain abstraction infrastructure platform that facilitates secure fully decentralised operations across blockchains. We have simplified cross-chain operations by providing a unified interface for users, developers, and blockchains. By abstracting the technical complexities of DeFi, zkCross Network enables users to efficiently manage assets and conduct cross-chain transactions, making DeFi more accessible and user-friendly.
We are integrating ICP’s decentralised canisters into our ecosystem to enhance the security and decentralisation of our cross-chain transactions. With ICP, we can automate the transaction signing process while ensuring that private keys remain secure and unknown even to our system. ICP’s canisters enable zkCross to establish a trustless infrastructure that facilitates smooth and decentralised cross-chain DeFi interactions, offering a fully decentralised experience for users and developers.
zkCross Network addresses several critical problems for users, developers, and blockchains. For users, we abstract the need for multiple wallets and complex cross-chain interactions by providing a single platform for all DeFi needs. For developers, we offer a free SDK that simplifies the process of building fiat-ready, cross-chain dApps, significantly reducing development time and effort. We also tackle the fragmentation in DeFi ecosystems for blockchains by offering native infrastructure solutions that bridge gaps, onboard liquidity, and enhance user engagement across chains.
2.0 How is it Built
zkCross Network is using ICP’s decentralised canisters to facilitate secure and decentralised cross-chain transactions. By utilising ICP, we are constructing a trustless infrastructure that automates transaction indexing and signing across multiple blockchains. ICP’s canisters ensure that the private keys used to sign transactions are never exposed, even to zkCross itself, providing a higher level of security for users and developers.
Our system securely signs and releases cross-chain transactions using ICP’s ECDSA algorithm, ensuring decentralisation and immutability. This integration enables us to automate critical processes, such as transaction validation and execution, without relying on intermediaries, making the platform more decentralised and secure. Furthermore, ICP’s scalable infrastructure ensures that zkCross can efficiently handle high volumes of cross-chain transactions, supporting future growth as more blockchains integrate into the ecosystem.
This partnership with ICP significantly enhances zkCross Network’s ability to provide a decentralised, secure, and efficient cross-chain DeFi platform. It aligns with our goal to make DeFi more accessible and trustless for all users, and we are excited about the benefits it will bring to our platform and its users.
3.0 Internet Computer Superpowers
The Internet Computer (ICP) provides several key features that enhance zkCross Network’s decentralised cross-chain operations. These features offer secure and efficient infrastructure and tools, ultimately improving performance and user experience.
3.1 Decentralised Canisters
ICP’s canisters are essential to zkCross Network’s design, enabling secure transaction indexing and signing automation. Canisters ensure secure and decentralised data storage while protecting private keys during cross-chain transactions, significantly enhancing platform security. They also facilitate the seamless execution of smart contracts across blockchains without relying on centralised intermediaries.
3.2 Chain-Key Technology and ECDSA Signatures
ICP’s chain-key cryptography and ECDSA signing enable zkCross Network to automate cross-chain transaction signatures securely. This technology ensures that transactions can be signed and verified across different blockchains without manual intervention, enhancing security and efficiency in cross-chain interactions.
3.3 Scalability
ICP’s architecture supports high-volume transaction processing, making it ideal for zkCross Network’s multiple blockchain and high transaction throughput needs. This scalability ensures the platform can handle increased demand as more blockchains integrate with zkCross without sacrificing speed or security.
3.4 Low Latency
ICP’s infrastructure’s low-latency capabilities enable zkCross Network to provide real-time cross-chain transaction processing, ensuring a smooth and efficient user experience. This enhances the platform’s responsiveness and reduces transaction finality delays.
Leveraging these unique ICP features, zkCross Network can deliver a decentralised, secure, and scalable cross-chain DeFi solution, improving functionality and user experience while driving trust and adoption in the ecosystem.
4.0 Go-To-Market strategy
Our go-to-market strategy is multi-faceted. We plan to leverage existing blockchain integrations, community engagement, and innovative product offerings to onboard users and developers.
The zkCross Network infrastructure is already live across several major blockchain ecosystems, providing a solid foundation for expanding our reach. With the recent launch of SuperAccounts, we are delivering a user-friendly solution that abstracts the complexities of cross-chain DeFi. Once the ongoing development with ICP is complete, the integration will make SuperAccounts fully decentralised, allowing users to benefit from secure, automated cross-chain transactions with ICP’s decentralised canisters.
To further solidify our presence within the ICP ecosystem, we will be launching the ICP zkCross Exchange. This exchange will serve as a liquidity gateway, enabling seamless cross-chain asset transfers, swaps, and liquidity onboarding within the ICP network. By integrating native ICP functionality, users will be able to access a more decentralised and secure DeFi environment, free from reliance on intermediaries or centralised entities, and experience the exciting benefits of the ICP zkCross Exchange.
zkCross Network has a sustainable revenue model and has been profitable. Our monetisation strategy focuses on providing essential infrastructure solutions for cross-chain DeFi, catering to users, developers, and blockchains.
4.1 Transaction Fees
We apply a transaction fee to all cross-chain operations conducted through the zkCross Network’s infrastructure. This fee applies to users interacting with dApps, conducting cross-chain transactions, and managing assets across blockchains. As the adoption of our cross-chain services grows, this transaction-based fee structure will scale with usage.
4.2 Developer Grants and Partnerships
Our partnerships with prominent blockchain ecosystems have allowed us to secure developer and community grants. These grants serve as a revenue source and facilitate the expansion and development of zkCross Network across multiple chains. Additionally, our integration with these blockchains creates long-term value by providing their ecosystems with crucial infrastructure for cross-chain interoperability.
4.3 Infrastructure-as-a-Service (IaaS)
We offer our cross-chain infrastructure to blockchains and dApp developers, enabling them to utilise zkCross Network for secure transaction signing, asset transfers, and decentralised liquidity onboarding. In return, we charge integration fees to blockchains and partners seeking to use our platform for DeFi infrastructure needs. This IaaS model adds a revenue stream.
4.4 zkCross Exchange
With the upcoming launch of the ICP zkCross Exchange, we will introduce additional revenue opportunities through liquidity onboarding, asset swaps, and cross-chain asset transfers. By providing native support within the ICP ecosystem, we will further monetise through fees associated with cross-chain asset exchanges and DeFi operations.
These revenue streams, combined with our strong partnerships and early monetisation efforts, have enabled us to grow steadily while maintaining profitability. This strategic approach ensures that zkCross Network is built for long-term sustainability and profitability as we expand our cross-chain infrastructure across multiple blockchain ecosystems.
5.0 Status of the Project
zkCross Network is making significant strides in the development of its DeFi chain abstraction infrastructure. We are currently live on several major blockchain ecosystems, including Hive, Tezos, Partisia, Stellar, and Arbitrum, with a focus on simplifying and securing cross-chain transactions for both users and developers.
Technically, we have built and launched the SuperAccounts feature, allowing users to manage assets across both EVM and non-EVM blockchains through a single, unified account. Our integration with ICP’s decentralised canisters is actively in progress, which will further decentralise and secure our transaction processes.
Milestones Accomplished
-
Processed $90.4M in transaction volume across 173,000 transactions, showcasing the growing adoption of our infrastructure.
-
Over 28,000 unique users have interacted with our products, a testament to the utility and demand for simplified cross-chain DeFi solutions.
-
Secured grants from leading blockchains helping fuel ongoing development and expansion.
Once the integration with ICP is fully complete, we will also be launching the ICP zkCross Exchange, which will serve as a decentralised liquidity gateway, enabling seamless cross-chain asset transfers and swaps.
With these technical advancements and early usage metrics, zkCross Network is well on its way to delivering a fully decentralised, secure cross-chain DeFi solution to the ecosystem.
6.0 Future Plans
Our immediate focus for zkCross Network is to complete the full integration with ICP’s decentralised canisters, which will bring additional security and automation to our DeFi chain abstraction infrastructure. This will lead to the launch of the ICP zkCross Exchange, which will serve as a decentralised liquidity gateway, facilitating cross-chain swaps, asset transfers, and DeFi operations with seamless interoperability between blockchains.
As part of our long-term vision, we aim to make DeFi mainstream on ICP by offering a variety of financial services that are accessible to all users, without the complexities of cross-chain operations. We plan to empower developers with zkCrossSDK, enabling them to easily create decentralised applications (dApps) that leverage the full capabilities of the zkCross Exchange, fostering innovation across the ecosystem.
Furthermore, we envision ICP becoming a hub for cross-chain DeFi interactions, recognised for its user-friendly approach and advanced DeFi capabilities. Our exchange will play a pivotal role in transforming the ICP blockchain, creating a thriving DeFi ecosystem where developers, users, and blockchains can collaborate seamlessly.
zkCross Network is positioned to not only expand its user base but also set a new standard for secure, decentralised cross-chain interactions, driving DeFi adoption and innovation on ICP and beyond.
7.0 Join Our Community and Be Part of Our Journey!
We’re building the future of cross-chain DeFi and we want you to be part of it! Whether you’re a developer, DeFi enthusiast, or just excited about the potential of blockchain technology, there’s a place for you in the zkCross Network Community.
By following us on our social channels, you’ll get:
• Exclusive updates on product releases, features, and partnerships.
• Access to developer resources and guides to help you build with our free SDK.
• Opportunities to participate in community discussions, share your feedback, and influence the future direction of zkCross.
• Stay informed about upcoming events, grants, and collaborations.
This is just the beginning, and your involvement will help shape the future of decentralised finance. Follow us, share your thoughts, and be part of this revolutionary journey!
• Follow us on Twitter (X) for real-time updates: Twitter
• Join our Discord to connect with other developers and users: Discord
• Stay updated via LinkedIn: LinkedIn
• Subscribe to our YouTube channel for demos and tutorials: YouTube
Let’s build the future of decentralised finance together!