Last December 25, the ZEOS project was launched on the EOS blockchain, a protocol to make private transactions, both to transfer tokens and to interact with decentralized applications (dApps).
The characteristics of ZEOS
This type of asset has some formidable features:
- The complete anonymity of transactions on the EOS blockchain. Not only will the source and destination accounts not be known, but also the amount exchanged is not shown;
- Transactions are super fast as the project leverages the EOS blockchain. The 1-block time on the EOS blockchain is just 0.5 seconds. That allows private transactions to be processed quickly.
- Free Transactions. Another considerable advantage is the cost-effectiveness of transactions, as you only need to have some CPU in your account to process transactions. The CPU, in most cases, is provided by the wallet itself, such as Anchor, and then, in fact, ZEOS allows you to make transactions both anonymous and free.
- Increased scalability: thanks to the integration of systems such as LiquidApps, it is possible to extend the capacity of the project to other applications such as an anonymous, decentralized exchange or a whole series of decentralized finance dApps (DeFi).
ZEOS and zk-SNARKS
An essential component of the ZEOS smart contract is the integration of zk-SNARKS (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge), which is nothing but a trustless verification system that serves to protect users who will interact with the protocol, dApps, and more.
In addition, the smart contract allows developers not to create internal systems for user verification, but they will be able to take advantage of the smart contract and integrate it into their applications. In fact, a smart contract provides a public verification key, zero-knowledge verification, and a public input list to verify a particular zero knowledge on EOS.
The verification method comes in part from Groth16, a system developed by Jens Groth in 2016 and was integrated by the team behind Zcash (ZEC). Anyone can use their open-source library “Bellman” to create arithmetic circuits for any zero-knowledge verification system, as well as verification key generation.
ZEOS and Pomelo
Thanks to the recent Pomelo platform, this project has secured over $25k to expand. The roadmap is divided into several phases: the first phase is for the creation and launch of the token, which has already happened; instead, the second phase will cover the creation of the various dedicated dApps, such as an anonymous DEX.
We can say that this project is the most important among all those presented in the EOS blockchain landscape, as not only a token dedicated to privacy is created, but it could represent a real alternative to all other tokens and blockchains that try to protect the privacy of their users.
The ZEOS token airdrop
As we mentioned earlier, the project involves several phases. The first one, the one dedicated to the token, has recently ended with an airdrop of the ZEOS token (here is the list with the snapshot).
The airdrop was given to all holders of the PEOS token (a vanished project that instead used a Monero-like system to obscure transactions, again on the EOS blockchain).
ZEOS has a supply of 1 billion tokens. 90% have been airdropped to the various holders of the PEOS token, which has seen an incredible surge in its price in the previous months, while the remaining 10% remains with the development team to employ later.
Within hours of its launch, the ZEOS token appeared on the first decentralized exchanges, such as Alcor.Exchange and the price has already reached $1.
As for the current market capitalization, it has almost reached 4 million, even surpassing the capitalization of pBTC that we find on EOS.