Introducing the zkPayment Gateway: A decentralized system designed for seamless, high-volume micropayments, eliminating the need to entrust funds to third parties. With zkPayment Gateway, you can enjoy instant, secure transactions without compromising control over your assets.
Instant Payments: zkEVM aggregates transactions into blocks spaced ten minutes apart, offering secure payments after confirmation of six blocks, with instant and atomic transactions on zkEVM Chain.
Micropayments: zkEVM Chain enables micropayments down to a very small fraction of zkEVM without custodial risk, while zkEVM's blockchain imposes limits due to higher minimum output sizes and fixed transaction fees.
Scalability: To meet the demand for automated payments and machine-to-machine transactions, zkEVM Chain supports a higher transaction volume without relying on the blockchain, ensuring nearly unlimited transactions between devices.
Operational Process: Users place funds into a two-party multisignature "channel" zkEVM address, represented on the zkEVM public ledger. Both parties must agree on the new balance to spend from the channel, and the most recent transaction signed by both parties reflects the current balance. Payments are made by signing a new exit transaction from the channel address, invalidating old exit transactions.
Unilateral Channel Closure: Users can unilaterally close channels without requiring cooperation from the counterparty, ending their relationship.
Network of Channels: All parties have multiple multisignature channels with various users, enabling payments across the network. By embedding payments conditionally upon a secure cryptographic hash, transactions can occur across channels without the need for any party to have unilateral custodial ownership of funds.
Dynamic and Open: zkEVM Chain facilitates dynamic and open participation on the network, providing a solution previously unattainable with trusted financial systems vulnerable to monopolies.