The Zerion team has launched the ZERO Network, an Ethereum layer-two solution. It allows users to trade, exchange, and issue crypto assets within a native wallet without the need to pay gas fees.
Onchain transactions should be free. Now they are on ZERϴ Network.
Starting today, Zerion wallet users can trade, mint & create with zero gas fees on @zerodotnetwork!
Start here: https://t.co/K55X1ckj4W pic.twitter.com/5jA4TlsfwA
— Zerion (@zerion) November 12, 2024
The ZERO Network employs account abstraction technology, where smart accounts and “Paymasters” sponsor transaction fees.
This new L2 is part of the Elastic Chain ecosystem, built using ZKsync technology. It features a dynamic scoring system, Onchain DNA, which assesses whether an address is eligible for fee-free transactions.
“We believe people shouldn’t have to pay for transactions and network exploration,” noted Zerion CEO and co-founder Evgeny Yurtaev. “With ZERO Network, we vertically integrate the wallet and L2 so users can forget about gas payments or transaction mechanics. They can simply send, exchange, issue, and do whatever they want.”
ZKsync co-founder Alex Gluchowski emphasized that the successful launch of the new solution within the Elastic Chain ecosystem “marks a new era of onchain experience.”
“Combining enhanced scalability with account abstraction, ZERO makes transactions smoother and more accessible for the average user,” he added.
The Zerion project also attracted an undisclosed amount of investment from several business angels, including Cooper Turley, Spencer Noon, Yearn’s lead developer known as Banteg, Alex Gluchowski, and platforms like Lido, Daylight, ETHGlobal, OpenSea, among others.
Previously, Ethereum co-founder Vitalik Buterin expressed the view that account abstraction could make user accounts quantum-resistant.