ZK Orderbook Vessel Deploys Mainnet on Scroll's zkEVM
CryptoNewsTerminal Staff12 Aug, 2024
ZK Orderbook Vessel Deploys Mainnet on Scroll's zkEVM
Vessel, an on-chain orderbook with privacy-preserving technology, has officially launched on Scroll, an Ethereum Layer2 network based on zkEVM. ZK orderbooks are becoming increasingly popular in the crypto space as they offer the benefits of both centralized and decentralized exchanges. They provide fast execution times and low fees like CEXs, while maintaining the security and transparency of DEXs. Vessel recently raised $10 million in funding from investors including Sequoia Capital, the Avalanche Foundation, and the Algorand Foundation. This funding will be used to further develop Vessel's technology and expand its team. The launch of Vessel's mainnet is a significant milestone for the project. It marks the first time that a fully functional ZK orderbook has been deployed on a live network. This is a major step forward for the adoption of ZK technology in the crypto space.
