zk-Ringer

Why do we need zk-Ringer?

In L2 networks, data availability becomes restricted. The reason being is a block producer creates a validated block but data regarding to it is not disclosed. Consequently, users will not be able to interact with the chain due to the state and balances of the blockchain being unknown.

At FOX network, transaction data is not stored on L1 but on a decentralized storage layer Memo. With the help of the memo, transaction fees will be drastically reduced while security is still provable, breaking the security cost dilemma.