Zeus Network (ZEUS)$0.41
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Zeus Network current price is $0.41 with a marketcap of $69.35 M. Its price is 0.89% up in last 24 hours.
Key Takeaways
- Zeus Network harnesses the combined strengths of Solana's fast transaction speeds and Bitcoin's robust security and liquidity, paving the way for a new era of digital connectivity and decentralized finance.
- Through its Zeus Node and Solana Virtual Machine (SVM), Zeus Network operates seamlessly, facilitating peer-to-peer communication and state-related functions while ensuring efficient operations and integration within the decentralized ecosystem
Zeus Network stands out as a symbol of creativity in the blockchain technology field, utilizing the strengths of Solana and Bitcoin to build a decentralized layer that goes beyond traditional limits. Zeus Network combines Solana’s fast transaction speeds with Bitcoin’s high security and liquidity to lead a new era of digital connection and decentralized finance.
This article explores the complexities of platform, examining its structure, features, and the important role of its native token, ZEUS, in influencing decentralized ecosystems’ future
What is Zeus Network?
Zeus Network is a layer that does not require permission, combining the powerful features of Solana and Bitcoin. Solana’s fast transaction speed and ability to scale quickly, when combined with Bitcoin’s security, trustworthiness, and liquidity, result in a strong synergy.
Developers can create a variety of applications and services on Zeus Network, facilitating the connectivity between Solana and Bitcoin with no restrictions. This distinct mixture creates numerous opportunities, ranging from advanced decentralized applications to secure financial services.
How Does Zeus Network Work?
Zeus Network architecture consists of two main parts: the Zeus Node and the Solana Virtual Machine (SVM) in charge of state-related functions. Zeus Node includes important services like Peer-to-peer, Signing, Broadcast, and Verifier Registry, all playing a role in the decentralized and effective functioning of the network. Different software within the SVM also boosts its abilities.
- The Verifier Registry Program makes it easier to register verifiers.
- The proposal management software controls processes related to proposals.
- The adjudicator program oversees the adjudication process.
This structured framework guarantees smooth integration and operation of the Zeus Network, highlighting peer-to-peer communication services and state-related programmatic elements in the Solana Virtual Machine.
Zeus Network operates in four steps:
Step 1: Proposal of Transactions and Storage
Transactions that are not tied to a specific blockchain are proposed and stored on Solana. Bitcoin and Solana transactions originate from Zeus Nodes before being sent to Zeus program states.
Serialized Bitcoin and Solana transactions are stored in the Proposal Management Program. Verifiers retrieve proposed transactions from the Solana blockchain. Consensus involves verifiers focusing on verification only. They use a threshold signature mechanism with Bitcoin’s taproot and Solana’s Ed25519 signature algorithm. Off-chain signature aggregation is more efficient than on-chain voting, allowing smooth broadcasting of signed transactions to Solana.
Step 2: Signatures are validated and combined on the Zeus layer.
Zeus layer offers customizable signatures using Zeus Programming Library (ZPL). The verification process for the Zeus Network is decentralized and permissionless, in contrast to federated notaries. Verifiers operate nodes, possessing private keys and executing signing functions. By staking SOL or LSD-SOL with a focus on LSD, one can participate in bothProof-of-Stake (PoS) consensus and the Two-Way Peg (2WP) mechanism.
Verifiers are required to enroll in the Verifier Registry Program. Security is backed by more collateral than necessary, with financial penalties for weaknesses. This improves the strength and endurance of the system during verification.
Step 3: Broadcasting signed transactions to target blockchain
Signed proposed authorized transactions are then sent or broadcasted to specific and designated blockchain network. The Zeus Node system offers off-chain features such as Peer-to-Peer, Broadcast, Signing with Signature Aggregation, and a dual-purpose Registry Service that operates on both on and off chain. Improvements can be achieved through the inclusion of diverse signature algorithms, broadcast service adapters for different chains, and on-chain registry programs developed in languages like Solidity and Move. This method guarantees the ability to adjust and work together with various blockchain systems.
Step 4: Securing the cross-chain communication by fraud proofs
The economic security of the framework is strengthened with a slashing program, where fraud proofs are vital in detecting unauthorized transactions. Following a Value-of-Deposited-BTC to Value-of-Staked-SOL Ratio boosts the security of the system. Relying on integrity, the system mandates the presence of a truthful verifier, encouraging nodes to provide evidence of fraud and receive a portion of the confiscated funds as a reward. Zeus verifiers guarantee the integrity of operations by implementing a “challenge period” after each operation. The system remains live by utilizing recovery mode to decrease signing thresholds and penalize offline nodes. This security model boosts the framework’s dependability and strength.
What is ZEUS?
Zeus Network’s tokenomics revolve around its native token, ZEUS, with a total supply capped at 1 billion tokens. The initial circulating supply stands at 167.5 million tokens, constituting 16.75% of the total. The token allocation is strategically divided among various segments, with Early Backers receiving 10%, Jupiter Launchpad allocated 5%, Ecosystem and Community Growth earmarked for 40%, Foundation Reserve holding 20%, Team receiving 15%, Liquidity provided with 5%, and Advisors granted 5%. Each allocation adheres to specific cliff and vesting periods, ensuring a balanced and sustainable distribution across the ecosystem.
The functions of ZEUS are as follows:
- Security: Users can use ZEUS tokens to improve security features in the Zeus Network platform, ensuring a strong and secure environment for transactions and interactions.
- Accessing gas, fuel, and services: ZEUS tokens are used to access and utilize different services in the Zeus Network ecosystem, including covering transaction fees, supporting smart contracts, and accessing particular network features.
- Governance: ZEUS token holders have the opportunity to be involved in making decisions about the future growth and path of the Zeus Network platform. This involves participating in voting for proposals, upgrading protocols, and making other important decisions that impact the ecosystem.
- Rewards or incentives: Users of the Zeus Network platform can earn ZEUS tokens as incentives for helping to enhance and improve the network. This may involve receiving rewards for offering liquidity, staking tokens, or joining community efforts.
Bottomline
Zeus Network emerges as a groundbreaking platform, seamlessly blending Solana’s speed and Bitcoin’s reliability to create a decentralized layer that operates without constraints. Through the Zeus Node and Solana Virtual Machine (SVM), it facilitates peer-to-peer communication and state-related functions, ensuring efficient operations.
With ZEUS tokens at its core, the ecosystem thrives, offering enhanced security, access to services, governance participation, and user incentives. Zeus Network represents not just a technological advancement but a gateway to a new era of decentralized finance and connectivity, promising a future where innovation knows no bounds.