- MINA protocol’s next improvement proposal is set to boost its decentralization through a zero-knowledge application feature.
- The zero-knowledge coins category has drawn crypto market participants for airdrops and liquidity farming, over the past few weeks.
- MATIC, ImmutableX and AZERO are trending ZK ecosystem coins with ScrollZKP, LayerZero, Shardeum airdrops likely in the pipeline.
The zero-knowledge ecosystem narrative is heating up with Arbitrum’s recent airdrop and altcoin price rallies. MINA protocol, one of the world’s lightest blockchains, is exploring a boost in its zkApp programmability through an upcoming MINA Improvement Proposal (MIP).
Among tokens in the zk ecosystem, Polygon (MATIC), ImmutableX (IMX) and Aleph Zero (AZERO) are currently trending with a series of token likely to announce airdrops in the pipeline.
Also read: These altcoins could yield massive gains in the short term: FTM, ADA and AVAX
MINA Protocol gears up for upcoming improvements in zkApp
MINA Protocol, a project that prides itself on being the world’s lightest blockchain, is exploring improvements to its network through better zkApp programmability. zkApps are MINA’s smart contracts powered by zero-knowledge proofs, that specifically use off-chain execution and mostly off-chain state model.
In its recent tweet, the Protocol announced the improvement in zkApps programmability and informed the community of an upcoming call to discuss further details of the MIP.
The next MIP is a proposal regarding zkApp programmability.
— Mina Protocol (@MinaProtocol) March 29, 2023
Join the community call on April 4 with the MIP authors from @o1_labs ☎️
∙ Ask questions
∙ Give feedback
∙ Voice your opinions ⤵️https://t.co/GqIU00W9og
With the ZK ecosystem narrative heating up, there is a plethora of opportunities for airdrop and liquidity farming for market participants.
Why the ZK ecosystem is important?
Zero Knowledge started out as a little known privacy technology and received massive amounts of funding from the blockchain industry. It transformed how blockchains scale and decentralize, boosting their capabilities for users.
Token networks like Zcash (ZEC) use zk proofs and MINA Protocol and Aztec are continuing to ship updates on their zk applications to the blockchain. Ethereum scaling solutions boosted their capabilities using zkEVMs.
Some of the most obvious use cases of the ZK ecosystem that ensure encryption and security from the visibility of public blockchains are still relevant among crypto developers and market participants.
With the alt season narrative and Ethereum Layer 2 projects gaining popularity, crypto traders are watching ZK ecosystem coins and projects for upcoming airdrops.
Hot and upcoming airdrops to watch
Miles Deutscher, crypto analyst and YouTuber listed several projects that are likely to announce their airdrops soon. Airdrop farmers hunting the next project after Optimism (OP) and Arbitrum (ARB) can watchout for updates on ZKSync, ScrollZKP, LayerZero and Shardeum.
Crypto Twitter noted that ZKSync developers recently denied the likelihood of an airdrop, however given a similar scenario occurred in Arbitrum prior to the ARB airdrop announcement, it is key to keep an eye on the project’s developmental updates and announcements.
ZKSync scales the Ethereum blockchain with cutting edge zero-knowledge technology.
If you missed the $ARB airdrop, zkSync could be your next big opportunity.
— Miles Deutscher (@milesdeutscher) March 29, 2023
I’ve seen a lot of $ZKS threads lately, but most are missing crucial info.
So I’ve been working on a FULL guide.
Drop a like and retweet, and if there’s enough demand - I’ll release it tomorrow!
Experts on crypto Twitter have compiled a list of tasks that are likely to be included for participants to qualify for the SCROLL airdrop once it is announced.
@Scroll_ZKP's Valuation Is $1.8B & There Are Plans For Incentive Mechanisms For Early Adopters
— HEADBOY (,) (@NDIDI_GRAM) March 25, 2023
Here's A Curated List Of Threads Containing The Necessary Interactions Needed To Qualify For $SCROLL Airdrop
This Isn't One To Miss↓↓
A
The project is a native zero-knowledge Ethereum Virtual Machine (zkEVM) Layer 2 scaling solution for ETH. The protocol aims to scale the Ethereum blockchain and boost cheaper, faster transactions for users.
LayerZero and Shardeum are two other likely airdrops, according to Deutscher. The expert shared detailed insights on the two in the thread below:
5. @LayerZero_Labs
— Miles Deutscher (@milesdeutscher) January 29, 2023
LayerZero is the ultimate interoperability layer, which is a narrative I'm super excited about.
Like zkSync, this one is also getting more saturated, but it takes little time (and the ecosystem is also fun to use and experiment with).https://t.co/YEUBYMGPtH
Trending ZK altcoins: MATIC, IMX, AZERO
When the Bitcoin price rally grinded to a halt last week, altcoins took the lead with the Layer 2 scaling tokens and ZK altcoin narrative gaining popularity. MATIC, IMX and AZERO ranked among ZK altcoins that yielded gains for holders.
Trending ZK altcoins
With Bitcoin price reclaiming the key $28,000 level, MATIC, IMX and AZERO prices are largely unchanged, or started a nosedive. Since ZK-based blockchain networks have noted a peak in the volume of capital being bridged, there is a likelihood that MATIC, IMX and AZERO begin their recovery in the short-term.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ethereum dips slightly amid Renzo depeg, BlackRock spot ETH ETF amendment
Ethereum (ETH) suffered a brief decline on Wednesday afternoon despite increased accumulation from whales. This follows Ethereum restaking protocol Renzo restaked ETH (ezETH) crashing from its 1:1 peg with ETH and increased activities surrounding spot Ethereum ETFs.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective (INJ) price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
US intensifies battle against crypto privacy protocols following crackdown on Samourai Wallet
CEO Keonne Rodriguez and CTO William Lonergan of Samourai Wallet were arrested by the US Department of Justice (DoJ) on Wednesday and charged with $100 million in money laundering on a count and illegal money transmitting on another count. This move could see privacy-focused cryptocurrencies take a dip.
Near Protocol Price Prediction: NEAR fulfills targets but a 10% correction may be on the horizon
Near Protocol price has completed a 55% mean reversal from the bottom of the market range at $4.27. Amid growing bearish activity, NEAR could drop 10% to the $6.00 psychological level before a potential recovery. A break and close above $7.95 would invalidate the downleg thesis.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?