Zerion Builds Zero Network Layer-2, Offers Fee-Free Transactions for Users

Zerion, a multi-blockchain cryptocurrency wallet, has announced plans to launch a layer-2 solution on Ethereum called Zero Network by late Q2 or Q3 of 2024. Named for its commitment to offering fee-free transactions, Zero Network aims to attract a wide user base within the Ethereum community.

In practice, Zerion will subsidize transaction fees for users using its own funds, as Ethereum's layer-2 solutions still require ETH for fee payment and data transfers to the mainnet for storage. The project expects transaction cost offsets to be minimal compared to revenue, especially with recent Ethereum upgrades drastically reducing transaction fees on layer-2 platforms to as low as one-tenth of a cent.

Zerion generates revenue through its cryptocurrency wallet app, primarily from token swaps and cross-chain token transfers. The platform hopes that fee-free transactions will create a network effect, particularly in the stablecoin transfer sector, attracting users to its layer-2 infrastructure and its suite of decentralized applications (dapps).

Furthermore, Zerion plans to collaborate with dapp developers to share the burden of transaction fees, with each dapp subsidizing fees for its users. To address concerns about potential transaction spam due to low fees, Zerion will implement measures to detect suspicious wallets and transactions. Wallets suspected of spamming transactions will lose fee subsidies, although users will still have the option to pay fees to ensure transaction processing.

Currently, Zero Network has not disclosed additional technical details regarding supported dapps or data availability solutions. The trend of dapps deploying their own layer-2 solutions has been vibrant recently, with prominent names in the industry such as Frax, Injective, CyberConnect, Ethereum Name Service, ApeCoin, and Orbiter Finance leading the charge.