CommPRO.biz Editorial Staff
Decentralized cross blockchain wallet and peer-to-peer crypto asset trading protocol zzoo announced the development of zzoo Protocol; a groundbreaking, blockchain agnostic, decentralized exchange protocol scheduled for 2019 mainnet release. Combining breakthroughs in threshold cryptography, an innovative proof-of-stake mechanism, and a novel order matching algorithm, zzoo Protocol eliminates the necessity of centralized exchanges.
Digital asset exchanges have played a key role in the evolution of the blockchain ecosystem, but have also been a large source of pain and inefficiency. The inherent risks resulting from centralized custody of user funds have made some of the most popular exchanges directly responsible for the blockchain community’s biggest reputational setbacks. Additionally, the cryptocurrency industry suffers from accusations of predatory trading practices and reporting inaccuracies.
“The necessity of centralized intermediaries for blockchain asset exchange is a significant problem that needs to be solved before we see the next big step in the evolution of the blockchain industry,” said Limor Rozen, Founder of zzoo Protocol.
The zzoo Protocol targets these issues by creating a platform to support the next evolutionary leap in the token economy. zzoo enables seamless cross-chain asset exchange from a single application while providing price transparency and transaction finality, all while users retain complete control of their assets.
Accompanying the protocol is zzoo’s universal blockchain wallet, architected to secure virtually any digital asset from any blockchain. This innovative wallet uses distributed key signing on the zzoo Protocol to fully control the users’ assets without storing a complete copy of private keys. This creates an innovative security layer that is not available in existing mobile and desktop wallets.
“We are excited to share our technological breakthroughs with the community and, through the zzoo Foundation, promote expansion of the token economy by making blockchain accessible for everyone,” said Ordan Matzkin, VP of Global Business Development at zzoo Protocol.
Source: Blockchain Wire