TL;DR
- Zerion launches ZERO Network, a Layer 2 on Ethereum that eliminates gas fees to improve the user experience.
- ZERO Network uses account abstraction and a dynamic scoring system, Onchain DNA, to enable free and secure transactions.
- Zerion has received funding from angel investors, including well-known figures in the crypto ecosystem, to support its development.
Zerion has officially launched its new scaling solution, ZERO Network, a Layer 2 on Ethereum designed to improve the user experience by eliminating gas fees.
Thanks to this innovation, Zerion Wallet users can perform transactions like swaps, minting, and bridging without worrying about the costs associated with transactions, a significant advancement that will greatly simplify the use of the Ethereum blockchain.
Onchain transactions should be free. Now they are on ZERϴ Network.
Starting today, Zerion wallet users can trade, mint & create with zero gas fees on @zerodotnetwork!
Start here: https://t.co/K55X1ckj4W pic.twitter.com/5jA4TlsfwA
— Zerion (@zerion) November 12, 2024
The system is based on native account abstraction, using Smart Accounts and Paymasters to cover gas fees, allowing Zerion Wallet users to interact with the blockchain without needing to pay for each transaction.
The network employs a dynamic scoring system known as Onchain DNA, which evaluates whether addresses are eligible for fee-free operations. This technology is integrated within the Elastic Chain ecosystem and is built on ZKsync technology, ensuring both scalability and transaction security.
ZERO Network Removes the ‘Mental Load’ of Gas Fees
According to Zerion co-founder Evgeny Yurtaev, this solution not only focuses on reducing transaction costs but also on eliminating the mental load of managing gas fees. The platform aims to make the blockchain interaction experience smoother, without the barriers traditionally imposed by gas fees, which Yurtaev describes as “tolls” that hinder user interactions.
In addition to its launch, Zerion has received undisclosed funding from several angel investors, including prominent figures in the crypto ecosystem like Cooper Turley, Spencer Noon, and Banteg from Yearn, as well as ZKsync co-founder Alex Gluchowski and NBA player Duncan Robinson. This support is a vote of confidence in Zerion and its goal to transform the user experience on the blockchain.
The launch of ZERO Network will be crucial for the evolution of blockchains and could signify a groundbreaking change in how users interact with Ethereum platforms
