Greetings from Kinetex!
Dubai, UAE, 1st November 2023, ZEX PR WIRE, The development team had the privilege of attending one of the many ETHGlobal hackathon events held in Lisbon, Portugal, from May 12th to May 14th. It was an excellent opportunity to meet new people and reconnect with old friends from the industry, all of whom share the team’s passion for Ethereum and its potential.
The hackathon was supported by several prominent DeFi ecosystems, including Polygon, Metamask, Aave, 1inch, and Gnosis Chain, who recognized and awarded outstanding products and developments. In addition, the event was attended by a vast community of experts, mentors, and sponsors who shared their expertise and knowledge with the teams and other attendees.
During the hackathons, the Kinetex team achieved great success and received multiple prizes from the 1inch Network, Gnosis Chain, and Scroll for Kinetex Flash. This innovation incorporates zero-knowledge proofs (Zk proof) that can verify token transfers between various chains. If a market maker fails to send tokens to a user, a prover (a role in the Kinetex system) creates a Zk proof of the failed trade. This proof can be used to initiate a refund from the locked collateral, ensuring the security and integrity of every transaction and making cross-chain swaps far more attractive for users.
Kinetex offers users a reliable, secure, and user-friendly platform for swapping crypto by combining instant transfers, collateral-backed security, and Zk proofs. As a result, Kinetex is able to take cross-chain swaps to the next level, allowing users to trade between each other and professional market makers while enjoying instant order confirmation and low gas fees.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Unique Analyst journalist was involved in the writing and production of this article.