The Block22 minutes ago

Published on March 14, 2024 17:00 GMT+00:00edited on March 14, 2024 17:04 GMT+00:00

Crypto wallet Zerion is working on its own Layer 2 network called the ZERO Network, which it plans to launch in late Q2 or early Q3 of this year.

The network will be an Ethereum-based rollup, and its unique selling point is that it will be free to use. The project hopes that subsidized fees will improve user experience. 

“Ultimately we realized that for the end user, the fees should not exist,” said Zerion co-founder Evgeny Yurtaev. He said the idea of paying fees is striking and unfamiliar for anyone who’s entering the blockchain space.

The big question is how the economics of offering free transactions will work. Zerion claims that subsidizing the fees will represent a cost to the business that will decline over time as transaction fee improvements are made. Yurtaev pointed to …