ABCDE: Why did we invest in GasZero?
September 12th, 2023 | BMAN & Kris
GasZero is a gas-free layer 2BlockchainThe network allows trusted users to transfer money and use on-chain applications without charging any gas fees. GasZero’s vision is to bring one billion users toweb3, enjoy 0 gas fee and frictionless interactive experience.
GasZero has greatly improved the conversion rate of users onboarding to Web3 in the Web2 launch test, compared with the gas feeBlockchainThe conversion efficiency of the investment has increased by 146 times. In addition,BlockchainIn this environment, the user lifecycle in the dApp is greatly extended because gas fees have always been usedBlockchainhuge cost.
ABCDE led the angel round of investment in GasZero.
1. Gaszero improves Web2web3The conversion rate of new transaction users increased by 146 times
We have been working hard to get Web2 users into Web3, but there are three major obstacles facing Web2 users:
1. Mnemonics
2. Fiat Currency Channel
3. Gas Fee
These three obstacles are extremely difficult learning costs for Web2 users, and each of them will discourage a large number of users. When GasZero tested the conversion rate of traditional blockchains in Web2, the conversion rate was only 0.15%, while in the gaszero environment, this conversion rate can reach more than 22% (as shown in the figure below).
So when will our parents be able to use blockchain with zero learning cost, and when will blockchain truly move towards Massive Adoption? Today, there are MPC/AA products like Particle Network for mnemonics, and products like Moonpay for fiat currency access, but there is no systematic solution for gas fees. GasZero is the first solution that goes deep into the bottom layer of the chain.
GasZero integrates Particle Network's MPC/AA solution, Moonpay and other fiat payment solutions, plus a 0 gas fee blockchain solution. In tests on Google, Facebook and other platforms, the conversion rate of the same advertisement increased from 0.15% to 22%, an increase of 146 times.
GasZero removes the barriers for Web2 users to enter Web3, making the product experience of Web2 and Web3 the same, allowing our parents and other users who have never used blockchain to enter Web3 "seamlessly".
2. Gas0 technical features
In the GasZero network, the user's gas fee is subsidized by the backend. "0 Gas" means that the trusted end user does not pay the gas fee when transferring andcontractGas fees are waived for interactions. Waived gas fees are recorded on the network and paid by dApp developers or GasZero itself through Infra Fees. If a user's transaction does not meet the criteria for gas fee waiver, they can still choose to pay the gas fee themselves to complete the transaction.
When a user initiates an on-chain interaction in GasZero, their MetaID, MetaShield, and Trust Oracle are fully analyzed to determine if they qualify for a Gas fee exemption. This analysis includes the following factors:
Is itcontractWhitelist users.
Whether you have been flagged as a malicious attacker or spammer.
Whether to interact with different EVM chain assets.
符合要求的用户可享受免Gas费用的优惠（可定制特定时间段、频率和contract互动选项）。
Note: GasZero's 0 Gas solution is different from AA walletIt operates at the node level, providing a higher level of flexibility andSafetyIt also provides a better user experience than the pay-first-then-reimbursement approach.
To achieve 0gas, GasZero needs to save some gas on the traditional chain through technical solutions. The GasZero team has adopted the architecture of optimized zkEVM, so the cost of zk itself will be relatively low. In addition, the DA cost team can also adopt the method of self-built DA to further reduce the cost. Then, node miners and others will cover part of the cost, thus achieving the goal of 0 gas.
In addition, in order to prevent freeloaders, GasZero has already cooperated with some DID projects to target existingweb3Users can verify whether they are real users through ZK Me or by accessing the Worldcoin SDK. For new web2 users, the number of transactions that can be initiated by a user in a single time period can be limited to prevent network congestion and waste.SafetyVersion of RPC node to ensure the transaction processSafetyThe team has accumulated a lot of experience in preventing brushing in previous gaming experiences, which helps to reduce the incidence of wool parties and attacks.
Key elements of the product:
MetaID:
MetaShield:
Meta Shield is an important audit mechanism for the 0 GAS service on the GasZero platform. When a user initiates a transaction in any dApp, a comprehensive assessment of Meta Shield is triggered, which includes the following:
1. First level dynamic strategy: Filter out users who engage in fraudulent activities or operate multiple accounts.
2. Application whitelist: Check if the user initiating the transaction is whitelisted by the dApp.
3. Reputation Oracle: The main logic of the reputation system is to evaluate the user's historical behavior data on and off the chain, and thus give a comprehensive score indicating the quality of the user.
4. Secondary Dynamic Strategy: Provides more flexible customization options, such as a daily cap on the transaction fees borne by the platform.
5. Contract whitelist: Check if the user interacting with the contract is on the whitelist.
Credibility Oracle:
The GasZero Credibility Oracle evaluates and rates GasZero users based on multiple dimensions. These include the integrity of account information,walletThe oracle conducts a comprehensive analysis of the collected data, assigns scores according to different dimension weights, and finally provides corresponding scores to all GasZero users. When the user's score reaches the set threshold, they are entitled to the privilege of 0 gas transaction fees.
3. Reconstructing the business model of Web3 chain
In the past, the business model of Web3 blockchain was to collect rent from users and Dapps. Users and Dapps were like paying tolls. Each transaction required a gas fee, which became the income of the chain and miners. However, this rent collection model seriously affected the value experience of users and Dapps. Who is willing to pay a fee for each operation? This is precisely one of the reasons that hinder Web3 from truly entering Massive adoption.
GasZero reconstructs the business model of blockchain, achieving zero entry threshold by subsidizing users' gas fees, capturing large-scale users and then realizing commercial monetization. This model has been repeated again and again in the history of the Internet:
In 2005, Shanda launched the "free game, paid value-added services" model through "Legend". All of its games were free, creating a new profit model for the online game industry - CSP (come-stay-pay), and became the strongest online game in one fell swoop.
Qihoo 360 Antivirus defeated Rising Antivirus, Kingsoft Antivirus and other antivirus software through its free model, and became the antivirus software with the largest market share through the model of "free software and paid advertising".
We believe that by charging backwards and subsidizing users, we will truly change the user growth pattern of blockchain. Only with enough users will there be enough social value and blockchain innovation can be truly implemented.
4. GasZero roadmap
Gaszero has deployed a testnet on August 24 and has completed 300,000 transactions with 0 Gas fees. It is estimated to take 3-6 months to polish the network. The Beta testnet will be launched in Q1 2024 and the Alpha mainnet will be launched in Q2 2024.
(1) Testnet Phase 1:
Test target: EXiaobai Navigationra7 game transactions use zk-rollup + 0gas
Architecture: zkEVM + Opside
dApp: Era7: Game of Truth
Browser:https://era7.zkevm.opside.info/
Official Market Test URL
https://marketplace-freegas.era7.io/
Game Test URL
ERA Token Contract Address
0xe9Ab1d84a314E7aFf0B06D0Ad39D5F70e0B98988
GOT Contract Address
0x50E84dF0559F4515a88920366d7C623008222BEd
0 gas test experience manual:
(2) Testnet Phase 2: (Testnet launched on September 11)
Test target: Era7 game adopts MetaID login (social login + MPC-AA wallet) + 0gas + stress test
Architecture: zkEVM + ETHGoreli
dApp: Era7: Game of Truth
Browser:https://scangoerlitest.gaszero.com/
Official Market Test URL
https://goerli-era7-marketplace.gaszero.com
Game Test URL
https://goerli-era7-game.gaszero.com
ERA Token Contract Address
0xe9Ab1d84a314E7aFf0B06D0Ad39D5F70e0B98988
GOT Contract Address
0x50E84dF0559F4515a88920366d7C623008222BEd
0 gas test experience manual:
Attachment:
Network Name: GasZero-Goerli-L2
RPC URL:https://goerlitest.gaszero.com
Chain ID: 12021
Currency Symbol: GAS0
5. A team that combines traditional games with blockchain technology
Adam Zhao, CEO, MBA
●https://www.linkedin.com/in/adamziyuan/
● Cambridge University EMBA
● TCG card battle game ERA7- CEO & CoFounder
● COO & CoFounder of Proton Network, a public chain for efficient data interoperability
● He used to work for British Telecom and was responsible for the high-frequency trading network exclusive to the financial industry. After returning to China, he founded the programmatic advertising platform Proton Cloud and focused on traffic acquisition and monetization in the gaming industry.
● Web3 experience:
■ At the end of 2017, he entered the blockchain industry and founded Proton Network, an efficient data interoperability public chain, which was once listed in the CMC top 100.
■ At the end of 2020, the web2 game "Fist of Truth" was transformed and the web3 card game Era7: Game of Truth was released. For six consecutive months, BNBChain's chain game DAU/transaction volume/NFT generation quantity ranked among the top three.
XianRui Meng, CTO, PhD
●https://www.linkedin.com/in/xianruimeng/
● 2016- 2021
■ Served as scientist & tech leader at Amazon, Facebook, and Apple
● 2015
■ Microsoft Research
● While at Boston University, he was a member of DBLab and BUSec in the Department of Computer Science. PhD dissertation: Research on privacy-preserving queries in encrypted databases
● Past research directions focused on HE, MPC, ZKP, etc.
● Published many papers on privacy and databases
6. Summary
After 15 years of development, the blockchain industry has been unable to break through the bottleneck of 400 million active users, which is surprisingly similar to the user scale under the early Internet license service mechanism. Free software and applications have completed the qualitative change of the Internet from 400 million to 5 billion users, and bred a new Internet model. We also believe that the free model is a way out for web3 to break through the bottleneck of 400 million users, and the demand for 0 gas blockchain has emerged.
GasZero removes the barrier for Web2 users to enter Web3. Dapps without mnemonics and gas fees make the product experience of Web2 and Web3 no different. We are optimistic that this zero-threshold, zero-difference product experience will enable Web3 users to move towards true Massive Adoption.
About ABCDE
ABCDE is a VC focused on leading the investment in top Crypto Builders. It was co-founded by Huobi Cofounder Du Jun, who has been working in the Crypto industry for more than 10 years, and former Internet and Crypto entrepreneur BMAN. The co-founders of ABCDE have built a multi-billion dollar company in the Crypto industry from scratch. Because we are entrepreneurs, we understand entrepreneurs better. And we have built a listed company (1611.HK) for ABCDE's Builders,exchange(Huobi), SAAS company (ChainUP), media (CoinTime.com), developer platform (BeWater.xyz), etc.
Twitter:https://twitter.com/ABCDECapital
Website:www.ABCDE.com
The article comes from the Internet:ABCDE: Why did we invest in GasZero?
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