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HomePress releaseZKBase Announces the Launch of ZKSwap(Bitcoin) V0.1 Testnet Version

ZKBase Announces the Launch of ZKSwap(Bitcoin) V0.1 Testnet Version

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On March 11, 2024, ZKBase launched the ZKSwap(Bitcoin) V0.1 testnet, a pioneering decentralized exchange (DEX) supporting BRC20 assets. It aims to redefine efficiency, security, and scalability paradigms within the Bitcoin network.

Key Features: The ZKSwap(Bitcoin) testnet DEX utilizes multisig asset management and future ZK technology enhancements for improved security and efficiency. It facilitates the exchange between Bitcoin and BRC20 assets, overcoming the transaction speed and high fee barriers on the Bitcoin network. Compared to on-chain Bitcoin transactions, ZKSwap significantly reduces transaction costs and offers faster confirmation times, achieving near-instant transaction confirmations.

How to Participate:

  1. Claim Testnet BTC Tokens: Visit the ZKSwap website to claim Bitcoin testnet tokens.
  2. Login: Use Taproot-formatted BTC testnet addresses to log in to ZKSwap.
  3. Deposit, Swap, Add Liquidity: Follow the guide to complete deposit, swap, and liquidity addition steps.
  4. Manage Liquidity: On the “Pool” page, manage and adjust your liquidity.
  5. Withdraw to Bitcoin Testnet: After testing, withdraw your assets to the Bitcoin testnet.
  6. For more details, please refer to the testnet operation tutorial at https://en.wiki.zks.org/tutorials/step-to-step-tutorial-of-using-zkswap-bitcoin-testnet-version.

Future Plans: ZKBase plans to introduce more asset protocols such as Atomicals, Stamps, Runes, etc., to enrich the platform’s tradable asset types. Additionally, efforts are underway to integrate mainnet asset issuance with layer 2 trading mechanisms, reducing barriers between the mainnet and layer 2 while gradually enhancing asset management security levels.

Community Invitation: We invite community members to participate in testing and experience the unique features and advantages of the ZKSwap(Bitcoin) testnet. Your feedback is crucial in optimizing our product and providing you with better services.

Thank you for your support in shaping the future development of the Bitcoin ecosystem together with ZKBase!

ZKBase Team

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.
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Ralf
Ralf
Ralf Klein is a computer engineer specializing in database technology, and as such, he was immediately fascinated by the possibilities of blockchain when he first heard about it, especially since this distributed, tamper-proof technology can be the foundation for much more than just cryptocurrencies. At ETHNews, he translates the articles of his English-speaking colleagues for the German readers. Business Email: info@ethnews.com Phone: +49 160 92211628
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