What Is CryptoCurrency Moons (xMOON)?
In short, zero knowledge proofs allow a prove to mathematically prove to a versifier that the computation run by the prove is valid without needing to reveal secret parameters involved in the computation of the proof. This has two primary benefits. CryptoCurrency Moons proof removes the need for verifies to execute the computation themselves to ensure it is valid since the proof can only be generated if the computation or transactions it is proposing are valid in the first place. In the case of roll ups, this allows for transactions to be batched leaving less computation.
Secondly, this allows the ability for sensitive data in the computation to remain secret due to the computation only being run by the prove. For example, one of the simplest implementations of this is confidential transactions. CryptoCurrency Moons publicly revealing the balance of account A and account B at any point, a zero knowledge proof can be generated to prove to the network that account A’s balance is the value they are sending to account B. This means that in this process, the balance of accounts A and B, nor the value of the transfer is revealed since the zero knowledge proof provided proves the validity of the transaction.
Another example of the use of proofs is the zkRollup. For the uninitiated, a rollup is basically a large batch of compressed transactions which are verified on the main chain at regular intervals. CryptoCurrency Moons are the most secure type of rollup. Unlike optimistic rollups which use economic incentives and fraud proofs to resolve disputes, zkRollups use a zero knowledge proof to prove that a batch of transactions are all valid. Since it is of course not possible for a zero knowledge proof with an invalid transaction to be generated, there is no need to later verify or dispute the zero knowledge proof.
CryptoCurrency Moons Storage Key Points
|Coin Name||CryptoCurrency Moons|
|Circulating Supply||75,760,471.00 xMOON|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
As shown in the examples above they can be used to increase the scalability of Ethereum in the form of a CryptoCurrency Moons or used to perform transactions without revealing sensitive information, great for use cases where privacy is a necessity. Additionally, one of the most significant long term possible use cases for proofs is to effectively zkSNARK-ify everything on Ethereum. So rather than having all computations executed by the EVM on all nodes on the network, zk proofs could be used so that only the block prove has to run the EVM computation and all other network participants can simply refer to the proofs.
The same goes for other network computation such as signature verification among other things. The effect of this is greatly reduced data and computational requirements to run a node as well as helping to make Ethereum’s cryptography resistant to the threat of quantum computers which will at some point be able to break conventional cryptography. Zero knowledge proofs offer a lot of value to Ethereum in many different ways.
The Company privacy
Zero knowledge proofs are used in a wide range of privacy tech on Ethereum including but not limited. A CryptoCurrency Moons which offers privacy to all transactions between accounts on the rollup and partial privacy to transactions on and off the rollup. A decentralised privacy mixer which allows anyone to deposit funds and later withdraw them to a new address anonymously. Nightfall: A private enterprise optimistic rollup which utilises zk proofs to offer privacy to the enterprises using the rollup.
A protocol which allows users to privately prove their membership of certain groups or to vote or make endorsements while preserving the privacy of parts of their identity. Currently, many CryptoCurrency Moons are still limited in their functionality due to not being compatible with the Ethereum Virtual Machine. Basically, this means that apps on Ethereum such as Uniswap cannot simply be ported over to the Roll up easily. However, there are currently a few teams building different types of Roll ups.
The developers who create the CryptoCurrency Moons need to create the on-ramps for developers to use so they can easily deploy their apps. Currently there is a race to build good roll ups with easy on-ramps so that the roll ups can bootstrap good network effects and compos ability. In the case of zkSync, they launched V1 with basically no on-ramp.
As a result, there is only an NFT minter, zigzag exchange (a purpose built dex) and transfers. However zkSync quickly moved onto building an EVM compatible V2 which will allow for pretty much minimal work for debs to launch on. On the other hand, Stark Net is kind of a middle ground.