Coin Metrics is committed to building the crypto economy on a foundation of truth, providing authentic and accurate data with the highest standards of clarity and precision. With this mission in mind, we are proud to share our October edition of Movers and Shakers, the monthly resource aiming to bring more transparency and credibility to the rapidly evolving crypto space.
As new assets reach a certain degree of accessibility to investors, specifically as they achieve alignment with our Market Selection Framework and the Trusted Volume Framework, Coin Metrics uses its crypto expertise to describe the assets’ context of use. The following assets are expected to reach alignment this month:
ZKsync (ZK) is a network scaling, zero-knowledge Layer-2 on Ethereum with innovative security mechanisms and cheap transaction fees. Zero-knowledge technology uses mathematical proofs to allow transactions to occur without revealing the exact transaction data. When a user creates a transaction, a witness or confidential input is generated, collected in batches, and processed together by the centralized sequencer. ZKsync’s off chain computation enables high transaction throughput at fractions of the cost of on-chain computational requirements. ZKsync leverages Validiums to access off-chain data availability, decreasing operating costs, while verifying state changes using validity proofs posted to Ethereum, ensuring decentralized network security. Developers can deploy EVM-compatible applications and adjust smart contracts natively in Solidity and Vyper or deploy their own rollups using the underlying technology stack. ZK tokens can be used to pay transaction fees with ZKsync’s native account abstraction feature and delegated to users to participate in governance proposals.
Render Network (RENDER) is a compute and private storage solution providing decentralized computational resources for visual designers. Creators can harness excess GPU resources from multiple providers to build high quality virtual effects for advertisements, videos, and metaverse settings. Creators can connect to Render through traditional graphic design environments including Blender and Unreal Engine, increasing accessibility beyond the underlying protocol. Users with excess GPU resources participate as node operators to support creators. Render uses a Burn Mint Equilibrium where creators burn RENDER tokens to mint non-fungible credits to spend for GPU resources. GPU Node operators are rewarded in newly issued RENDER tokens as incentive to participate in the network. Render migrated to Solana (SOL) and upgraded its token from RNDR to RENDER to support the Burn Mint Equilibrium model and build on a network with low transaction fees and fast transaction confirmation. RENDER holders can also delegate their tokens to vote on governance proposals to participate in the protocol.
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