ZK-Rollups, ZKSea & Immutable X
Proposed by Ethereum researchers, ZK-Rollups is characterize by computing off-chain and storage on-chain. The plaintext data in the computing is sent to the on-chain contract in the form of calldata, to reduce the storage cost. The correctness of off-chain computing is guaranteed by the zero-knowledge proof algorithm. With such designs, it greatly increases TPS and reduces the cost of a single transaction.
Following a massive rebranding campaign in 2021 Q4, we launched ZKSea, the first ZK-Rollup-based NFT platform that allows users to mint, list, trade, deposit and withdraw NFTs at a lower cost and faster speed than Opensea.
ImmutableX is an Ethereum-based layer-2 scaling solution focused on NFTs. Their objective is to lower transaction costs while allowing instant transfers of NFTs.
Both ZKSea and ImmutableX have their own NFT marketplace, support ERC721 NFT standard, and use the order book mode.
What makes ZKSea different?
L1-L2 mutual transfer
At present, the NFTs on the Ethereum mainnet cannot be deposited to ImmutableX.
Besides, if an NFT needs to be withdrawn back to Ethereum at a later time, the issuer must prepare an ImmutableX NFT smart contract on the Ethereum mainnet beforehand.
By contrast, ZKSea supports all ERC721 standard NFTs to be freely deposited and withdrawn between Layer1 and Layer2. Therefore, it is much easier to transfer NFTs to Layer2 and enjoy cheaper and faster NFT transactions. ZKSea stores all NFT issued on Layer2 in the same Layer1 smart contract, and the NFT issuers can withdraw the NFTs to Layer1 at any time.
Mint & List your own NFT
Users cannot create their own NFTs directly on ImmutableX. Those who want to issue NFTs on ImmutableX must write an email asking for collaborative issuance.
ZKSea, on the other hand, is designed to allow anyone to create NFTs on their own. Users can independently mint, list, or create NFT collections with a few clicks.
More fee token options
The NFT transaction fee on ImmutableX must be paid with IMX tokens.
Users on ZKSea can choose among ETH, USDT, WBTC or ZKS to pay the fees. Switch your fee token by clicking the gear icon beside your wallet address.
A complete Layer2 wallet
ImmutableX does not provide an independent Layer2 wallet. Users need to manage their accounts via StarkEx account. Multiple authorizations & signatures are required for Layer2 account opening and wallet connection.
ZKSea has created a complete Layer2 wallet, which allows users to easily manage their ERC20 tokens and NFTs. NFT L2 transfers, L1-L2 mutual transfers can all be completed in your Layer2 wallet. Any transfer initiated from the protocol settles immediately without involving a third party. Users can access their Layer2 wallet simply by connecting their Layer1 wallet, including MetaMask, Coinbase Wallet, Walletconnect, and more to come.
Mystery Box and Auction
ZKSea provides Layer2 Mystery Box and NFT Auction features to support NFT primary market offering.
In 2022, ZKSea was authorized by Colombian football superstar James Rodríguez to release 1500 James Rodríguez commemorative NFTs in Layer 2-based English auction (11 NFTs) + mystery box draw (1489 NFTs).
It also uses the mystery box feature to support community events, such as the 3125 NFTs distributed to users during 2022 Christmas.
A Look into the Future
ZKSea is committed to providing the best user experience and innovative tools for every participant in the NFT industry. Therefore, we are planning to:
(1) Work with more partners to issue NFTs. Provide users with the most secure, ultra-fast and low-cost NFT trading experience.
(2) Provide users with NFT market analysis tools to facilitate primary and secondary trading.
(3) Introduce innovative ways to offer NFTs based on Layer2’s advantages of fast trading and low gas.
The ZKSpace (formerly ZKSwap) platform consists of three main parts: ZKSwap, the first Layer 2 AMM DEX utilizing ZK-Rollups technology, payment service ZKSquare supporting fast and cheap Batch Transfer, and an NFT minting center and marketplace ZKSea. ZKSpace has been running since February 2021 with hundreds of function iterations, and no security incidents have ever occurred. With innovative NFT L1-L2 transfer, unlimited token listing, cheap and smooth deposit & withdrawal, and a Layer 2 domain name system ZNS, ZKSpace aims to implement EVM-compatible ZK-Rollups and bring the community more Layer 2-based products.