GRVT, a fusion cryptocurrency exchange fondly known as “Gravity.” This platform stands ready to usher in a groundbreaking era by merging the strengths of centralized and decentralized exchanges
This groundbreaking exchange will emerge as zkSync’s inaugural “hyperchain.” Moreover, GRVT promises a user experience akin to Robinhood, coupled with self-custodial features reminiscent of Uniswap.
Matter Labs, the driving force behind Ethereum Layer 2 zkSync, unveiled that GRVT will play a pioneering role in zkSync as the first “Hyperchain.” This bespoke blockchain is designed to function as a Layer 3 Validium within the zkSync ecosystem.
However, Validiums, much like Ethereum’s Layer 2 zk-rollups, possess a critical distinction as scaling networks. In zk-rollups, data stays on the blockchain, while Validiums store it off-chain.
Notably, the data undergoes encryption before its integration into the blockchain. This meticulous process establishes robust safeguards against front-running and market manipulation, a clarification offered by Matter Labs.
The advent of zkSync ecosystem has opened doors to innovative applications. These are showcased by platforms like GRVT, as affirmed by a spokesperson from Matter Labs.
The Matter Labs representative conveyed to The Block that there is no equivalent to GRVT within or outside the zkSync domain. This is because teams, such as GRVT’s, have the capability to create entirely unprecedented use cases.
Notably, This is made possible through the design and deployment of custom hyperchains interconnected via hyperbridges.
The launch of this hybrid cryptocurrency exchange is just around the corner. Its closed alpha version is set to be released next month. Subsequently, the mainnet is expected to go live in the first quarter of the upcoming year.
GRVT’s Breakthrough in High-Speed Transactions within the zkSync Ecosystem
GRVT’s goal is to offer transactional speeds of up to 600,000 trades per second. This will be achieved with latency measures falling under two milliseconds, all thanks to zkSync’s “horizontally scaling” infrastructure.
Additionally, Hong Yea, co-founder, and CEO of GRVT, elaborated on this concept. He explained that horizontal scaling involves deploying additional underlying pairs as fresh hyperchains, like BTC/USDT perpetual futures.
Furthermore, infrastructure components can be smoothly integrate, broadening the scope. This approach empowers high-frequency traders to execute transactions with remarkable efficiency, akin to a traditional exchange.
Furthermore,Matter Labs, CMS Holdings, and other investors offer steadfast support to GRVT. Notably, they recently secured a substantial $7.1 million in pre-seed and seed funding.
In conclusion, this funding materialized in the shape of an equity and token warrant round, ultimately culminating in a post-money valuation of $39 million. Moreover, the highly anticipated GRVT token is scheduled for launch in 2024, marking a significant milestone in the realm of cryptocurrency.