Zama Testnet v2 Launches, Mainnet & Privacy Token Imminent

Zama Testnet v2 Launches, Mainnet Imminent

We're excited to announce the official launch of Zama's Testnet v2, alongside ongoing preparations for the upcoming mainnet and native token launch.

Key Highlights:

• Zama Testnet v2 launched
• Mainnet and token launch imminent
• Enabling privacy for financial transactions on existing blockchains
• Upcoming applications: Zaiffer Protocol, TokenOps, Bron Wallet, Raycash
• Over $100 billion in assets secured by Zama Genesis Nodes
• Comprehensive security audits

What is Zama?

Zama is a cryptographic layer designed to enable private transactions and secure financial functionalities on existing blockchains. Rather than building a new L1 or L2, Zama builds on top of existing infrastructure, much like how HTTPS adds a security layer to traditional websites.

Testnet v2: A Preview of the Mainnet

Following the successful launch of the initial testnet in July, which saw over 100,000 addresses participating and over 1 million private transactions completed, Zama is now launching Testnet v2. This version serves as the candidate for the upcoming mainnet launch, showcasing the same full features and functionalities. Developers are encouraged to start building and deploying on this test network.

Testnet v2 also marks the successful completion of the first fully decentralized key generation ceremony with the Zama Genesis Nodes. This ceremony took 55 hours, generating all the public and private key information necessary for the Zama testnet. This marks a significant milestone in the large-scale application of robust Fully Homomorphic Encryption protocols, representing years of research and development and months of coordination.

Upcoming Applications on Mainnet

A number of cutting-edge applications are preparing to launch on the Zama mainnet in the coming months. Some notable examples include:

• Zaiffer Protocol: Converts ERC-20 tokens into encrypted ERC-7984 tokens, ensuring full privacy of transaction balances and amounts.
• TokenOps: Provides encrypted token distribution solutions for crypto companies and foundations, enabling private token distributions to investors and communities.
• Bron Wallet: The first wallet to natively support encrypted ERC-7984 tokens, providing secure storage and transfer of encrypted assets.
• Raycash: A rug-proof self-custodial bank, enabling secure and private on-chain fund management, along with features like staking, swapping, and offline spending through debit cards and IBAN accounts.

Securing Assets with Zama Genesis Nodes

The Zama Genesis Nodes consist of over 100 candidates selected based on their superior operational capabilities, robust cybersecurity practices, and industry reputation. This stringent selection ensures a strong economic security foundation for the protocol, with Zama Genesis Nodes collectively securing over $100 billion in assets and earning the trust of banks, foundations, and millions of cryptocurrency holders.

Comprehensive Security Audits

All components of Zama have undergone rigorous security audits, covering the TFHE-rs cryptographic library, key management system, protocols, co-processors, gateways, and the upcoming ZAMA token, staking, and governance contracts. These audits have uncovered high-risk vulnerabilities that have been promptly fixed, making Zama one of the most comprehensively audited protocols in the Web3 industry.

ZAMA Token Launch

The ZAMA token will be launched in conjunction with the mainnet launch. This native token serves as a utility token for the protocol, facilitating the payment of protocol fees and staking operations. Zama utilizes a burn-and-mint model, where protocol fees are burned and new tokens are minted to reward network nodes. Fees are priced in USD but must be paid in ZAMA tokens.

Stay tuned for more updates and announcements as we approach the Zama mainnet and ZAMA token launch.