zkTube Protocol ZKT

What Is zkTube Protocol (ZKT)?

ZKT is the native token of zkTube Protocol, which is a Layer 2 mining protocol. The zkTube Protocol crypto project was released in 2020, and it’s the first of its kind. It aims to provide higher scalability, lower gas fees, and higher transaction throughput for the Ethereum network.

Check out the zkTube Protocol price chart above to see the live ZKT price.

In order to achieve the aforementioned goals, the zkTube Protocol adopts Zero-Knowledge rollups (ZK-rollups). How do they work? Since they combine a large number of off-chain Layer 2 transactions and submit them to Ethereum as a single transaction, they are similar to optimistic rollups.

ZK-rollups, on the other hand, use validity proofs to instantaneously determine whether or not transactions are valid, as opposed to assuming that they are valid until proven otherwise. Due to the fact that a validity proof recognized by the ZK-rollup contract instantly confirms the transaction, there are no delays when moving funds from Layer 2 to Layer 1 using ZK-rollups.

Use Cases of ZKT Tokens

ZKT is the driving force behind the zkTube Protocol crypto project. The following are the main use cases of zkTube Protocol tokens:

• Mining. ZKT tokens support CPU mining, import wallet mining, and staking. In the case of these events, ZKT tokens are earned as rewards.
• Governance. ZKT token holders can vote on upgrade proposals, as well as initiate them.
• Transaction fee payment method. ZKT tokens can be used to pay transaction fees within the zkTube network.

If you plan to buy zkTube Protocol coins, keep in mind that the ZKT price is quite erratic. Thus, before making any purchasing decisions, make sure to analyze the zkTube Protocol price chart featured above.