Tezos (XTZ) Improving the ways in which Delegators and Stakers Communicate on the BlockchainJuly 21, 2020
Tezos Commons recently spoke about the privacy preserving payment solution which is coming to Tezos. This is the layer 2 privacy payment solution coming to Tezos.
ZkChannels has been developed by BoltLabs, which is a crypto based startup and the firm has ties to the founding scientists behind Zcash.
The ZkChannels are lot different from the lightning network. They ensure that privacy is not taken for granted in most instances. Lot of data is collected from the users from different e-commerce outlets.
The lightning network functions as a layer 2 payment solution for the Bitcoin blockchain. While the network permits faster transaction times, there are sometimes when the payment which is sent to the merchant will land up getting seen in one’s banking details.
A lot similar to Lightning network the ZK channels are based on zero knowledge proof where the value is exchanged between parties without having to reveal sensitive data. Thus, neither the sender nor the receiver will have their personal information compromised. The Zero knowledge proofs and multi-party computation techniques make it possible for parties to transfer value cheaply between each other thus retaining anonymity.
Sydney Ifergan, the crypto expert tweeted: “Tezos (XTZ) Claim zkChannels differ from lightning network, we will know very soon from real time users about their satisfaction level and we go from there.”
The Tezos community are amazing and they have done a lot of wonderful things in their individual skill and talent to get things better for Tezos. They continue to do so. We expect to see more of wonderful things.
Tezos (XTZ) Exclusive Report
Those who are new to Tezos will do well getting to know more about the impact of exchange staking, delegator life cycles and behavior, baker customer relationships, and data suggested challenges for Tezos. An exclusive report is available in this regard.
A comprehensive staking data study was performed on the Tezos Blockchain. They explored a lot of stuff ranging from whether bakers and delegators are able to build trustful and long-term relationships; whether delegators accumulate for compounding rewards or are they selling of stakes; the challenges prevalent for Tezos.
They have concluded stating that an increasing share of Tezos delegators as showing considerable confidence in their respective bankers and the overall network. With staking activity increasing, lot of stakes who have less knowledge is increasing which in turn lead to an early break up. Blockwatch have to say that they are working on new tools to improve the ways in which the bakers and delegators are interacting in a way to foster improved trust and loyalty.