By
Svetlana Soroka
February 29th, 2024
Horizen, a public blockchain platform, announced that it achieved a major milestone with the launch of its proof verification chain on the testnet.
This launch is a notable event in the Web3 space since it is the first instance of a modular proof verification network.
The Objective of Horizen
Horizen revealed in a blog post that the goal of the testnet launch is to redefine blockchain efficiency with ZK proof verification and settlement layers. With this focus, prices for ZK rollup transactions and appchains are drastically reduced while efficiency is increased.
At its core, the new Horizen network comprises several critical components which include a revamped mainchain, proof submission interface, attestation mechanism, new Horizen smart contract, and Polygon zk-EVM rollup.
Driven by Substrate, the modular proof verification network is anchored by the Horizen mainchain. This network facilitates the exchange of ZEN, the native cryptocurrency of Horizen, as well as the validation of FFLONK Proofs produced by Polygon zkEVM instances.
With an eye toward the future, Horizen stressed that it is committed to breaking new ground in the modular blockchain industry, particularly in terms of reducing costs and increasing rollup efficiencies. Crucially, Horizen wants to make the network more compatible with the addition of zkStack. By doing this, Horizen hopes to increase its market reach and interoperability.
Additionally, the blockchain platform said it also has plans to open up access to the public. This move will potentially enable the Horizen community to operate the testnet nodes and function as validators.
It is worth mentioning that the launch of Horizen’s proof verification chain testnet is only one of the platform’s latest achievements. In October, Horizen deployed a mainnet of the Ethereum Open Network (EON). Horizen EON is a smart contract sidechain platform that is completely compatible with the EVM. It is intended to play a critical role in the Web3 revolution while also empowering the next generation of developers.
Through the utilization of ZK proof verification and modular architecture, Horizen is advancing the goal of a decentralized future by creating a blockchain ecosystem that is more scalable, accessible, and efficient.
Increasing Attention on ZK Proofs Incorporation
Meanwhile, a host of blockchain platforms are making efforts toward incorporating ZK-proof solutions. For instance, Lynex and Salus recently collaborated to provide the first ZK integration on Linea, increasing privacy and confidentiality for all Lynex users. The privacy advantages are due to ZK-proofs, which ensure that trades on Lynex stay anonymous even after verification, allowing customers to trade with total confidence and anonymity.
Remarkably, Gate.io, a prominent crypto exchange has also announced improvements to its Proof of Reserves (PoR) mechanism, including a new open-source solution based on zero-knowledge technology. The primary goal of introducing zk-SNARKs is to resolve concerns about the prior system, which allowed for the inclusion of fake accounts with negative balances to alter the data.