It is strange that horse racing is one of the first sports to adopt new technologies like Blockchain since we are talking about a sport that is carefully tied to traditions and history. But this is a good thing, right?
At least the sport is building a future-proof system where new integrations and technologies might bring more eyes to the sport. More fans equals more money, and of course, it makes the sport more exciting.
Let’s learn more about this partnership, what it will bring to the sport, and why you should care.
What Is zkRace?
Ever heard of zkRace? If not, you’re in for a wild ride. This isn’t just another run-of-the-mill blockchain game. We’re talking about a virtual horse racing game powered by zk-rollup technology (Zero-Knowledge proofs, for the uninitiated), making it the first of its kind. But that’s not the only kicker—Transak, a leading fiat-to-crypto on-ramp solution, has teamed up with zkRace to make this game a lot more accessible.
But why does that matter? In a world where blockchain games are still trying to hit the mainstream, zkRace’s use of zero-knowledge proofs ensures that transactions are faster and more secure than traditional methods, all while keeping user data private. In short, it’s a game-changer for the gaming industry.
What Exactly is zkRace?
zkRace is a Web3-based horse racing game that brings the thrills of the racetrack to the blockchain. But this isn’t your typical Web3 game. By leveraging zk-rollup technology, zkRace ensures that your data is secure, transactions are fast, and scalability isn’t a headache. To put it simply, zkRace is revolutionizing GameFi by solving the common problems that plague blockchain gaming, like slow transaction times and high fees.
Launched initially as DeRace, zkRace rebranded and started leveraging zk-rollup technology to offer a new level of scalability and privacy, crucial for handling a large number of transactions and users without compromising speed or security.
What about betting? Can you place a bet on the Breeders Cup just like on TwinSpires?
Well, there isn’t much information yet, but if we look at most crypto games, betting might be available.
The Role of Transak
Now, let’s talk about the Transak partnership. You know how frustrating it can be to get into a blockchain game—setting up a wallet, converting fiat to crypto, the whole nine yards. Transak aims to smooth out this onboarding process.
By integrating with zkRace, Transak allows users to buy crypto directly with fiat money, making it easier for newbies to jump into the game without the usual hassle of navigating the complex crypto landscape.
This is a big deal because one of the biggest barriers to entry in Web3 games is the complicated process of buying and managing crypto. Transak’s integration eliminates this headache, making zkRace accessible to a much broader audience. This partnership is poised to accelerate the adoption of zkRace and, by extension, zk-rollup technology in gaming.
So, How Big is This Game Going to Get?
Well, the potential here is pretty significant. zkRace has already attracted attention in the crypto space. Here are some quick stats:
- Market Cap: Approximately $37 million.
- Circulating Supply: 120 million ZERC tokens.
- Trading Volume: Roughly $60,000 daily.
These numbers aren’t just impressive; they highlight the growing interest in zkRace and its underlying technology. What’s more, zkRace is featured among the top animal racing coins by market cap, underscoring its appeal in the niche but rapidly expanding sector of crypto gaming.
What’s the Impact of zk-Rollup Technology in zkRace?
If you’re scratching your head over what zk-rollups even are, let me break it down. Zero-Knowledge rollups (zk-rollups) are a Layer 2 scaling solution on Ethereum that bundles thousands of transactions off-chain into a single transaction. The idea is to improve scalability without compromising security or decentralization.
For zkRace, this means the game can support a high volume of players and transactions without slowing down or becoming prohibitively expensive to use. It’s like going from dial-up to fiber-optic internet—only in the world of blockchain gaming.
What Does The Future Hold?
We’ve seen many new horse racing projects, especially in the web3 and crypto space. Many of them turned out unsuccessful, and we still don’t know why. It may be because of the new technology that we aren’t prepared for yet, or is it because there isn’t much that this technology has to offer?
Well, I think that the crypto technology and how we view this new industry is the main cause for the many unsuccessful projects. But this doesn’t mean that zkRace wouldn’t succeed.
To be honest, it is still too early to tell whether or not this partnership will succeed. With the combination of zk-rollup technology and Transak’s fiat-to-crypto service, I think we are standing on something big.
This may be the foundation of all future Web3 games, who knows?
But we have a long road ahead. The technology used in the process may be revolutionary and cutting-edge, but that won’t bring customers. Games should also be fun, exciting, and entertaining.
We just have to wait and see how this partnership will play out, and how will it impact the entire horse racing industry.
