ZKFest AMA series: Discover key insights from the discussions with GRVT, Cronos Labs and zkLink, on the future of blockchain, security, real-world applications, and more. Listen to the replay here.

The “Fat Protocol Layer” Dilemma 

At this AMA, GRVT’s Lead Product Engineer Alaukik Pant talks about one of the key issues lie in the future of blockchain - how to benefit users from the application level and take off from the protocol level. 

It is believed that the future lies in applications, rather than the “fat protocol layer”* -  In the same way that the value of the internet doesn’t accrue at foundational levels like SMTP, HTTP, or TCP/IP. We believe that blockchain protocols shouldn’t be the primary source of value for users. Instead, applications should be at the forefront of delivering value to customers.

*The term “fat protocol layer” refers to a theory in blockchain economics and design that describes how value is distributed across different layers of blockchain networks. In traditional internet architecture, most of the value tends to accrue at the application layer (like Google, Facebook, etc.), while the underlying protocols (like HTTP, TCP/IP) capture relatively little value.

GRVT wants to simplify how we interact with blockchain technology, abstracting away the complexities that often hinder mainstream adoption. GRVT is launching a self-custodial exchange with perps and options as the first step. However, our innovation doesn’t stop there. We see applications as the key drivers of the blockchain revolution, ensuring that users get the most value without needing to engage with the intricacies of the protocol layer.

On the other hand, a critical aspect of the approach at GRVT is becoming compliant and regulated in the beginning. Being a regulated entity because the long-term vision is to offer a full suite of capital market products, powered by blockchain. GRVT wants to enable users to settle transactions directly on blockchain, in GRVT’s case, is starting on Ethereum using the ZKsync network, with all trades secured by cryptography—secure by maths.

Expert Sharing from Cronos Labs

Cronos Labs, the ecosystem development arm of the Cronos ecosystem, has been instrumental in the growth of this blockchain platform. Cronos began as a Cosmos chain and has since expanded into a more comprehensive ecosystem of blockchain and app developers. The team successfully launched and continues to operate the Cronos Layer 1 EVM chain, offering developers and users a robust platform.

Recently, Cronos took a significant step forward by launching Cronos ZK-VM, a Layer 2 solution built on Ethereum and powered by ZK-sync technology. This addition marks a new chapter for the Cronos ecosystem, positioning it as a hub for retail users transitioning from custodial exchanges to more advanced DeFi and Web3 experimentation. Cronos provides a seamless experience for those starting with their first Bitcoin or Ether purchase and evolving into self-custody and DeFi investments.

The entire Cronos project was developed in partnership with Crypto.com, aimed at simplifying the journey from fiat on-ramping to full DeFi participation. With a well-established ecosystem of users and developers built over the years through Cronos PoS and Cronos EVM, the introduction of ZK-VM now provides a larger stage, expanding access to Ethereum’s broader network and liquidity. The Cronos ecosystem is poised to attract a wider audience and facilitate further growth for both developers and users in the decentralized finance space.

Expert Sharing from zkLink

zkLink is building an aggregated rollup infrastructure aimed at unifying liquidity while ensuring security and scalability through ZK proofs. This is achieved with two products: zkLink X and zkLink Nova, designed to simplify the crypto experience by providing a unified ecosystem.

zkLink Nova, the first aggregated Layer 3 rollup ZK EVM network, aggregates liquidity across connected Layer 2 rollups and Ethereum, leveraging zkStack and ZK Link Nexus for scalability and security. For developers, it offers an open platform to deploy Solidity smart contracts and instantly access integrated networks and liquidity, unlocking powerful DeFi opportunities and higher yields for users.

Since its Token Generation Event (TGE) in July, zkLink has been developing “Magic Links,” a Telegram-focused, EVM-compatible blockchain link for secure and seamless cross-chain transactions. Using the ERC 7683 standard with device and biometric security, zkLink aims to make cross-chain interactions effortless for both developers and users.

GRVT Open Beta Testnet Live Now

GRVT has observed a diverse range of backgrounds among users onboarding to its exchange platform, representing a truly global audience.

This user base includes both retail clients and individuals from various levels of experience. Among them are DeFi natives, those completely new to cryptocurrency, and a broad spectrum in between.

In terms of trading activity, the platform sees a healthy mix of experienced crypto users, those who have engaged with crypto exchanges but not explored wallets or self-custody, as well as first-time crypto users. This variety underscores the inclusive and accessible nature of the GRVT exchange.​

GRVT’s Open Beta Testnet is currently live, with more than 2.5 million users registered on waitlist. Join now for rewards from a 2.4M $ZK token pool and 600,000 raffle tickets, sign up here!