zkVerify price

VFY

#628

ZkVerify (VFY) is a Layer 1 blockchain specifically designed to provide a high-performance, decentralized, and cost-effective solution for zero-knowledge (ZK) proof verification. Zero-knowledge proofs are a core technology for enhancing the privacy and scalability of Web3 applications. However, verifying these proofs on general-purpose blockchains, such as Ethereum, can be slow, computationally intensive, and expensive, which limits the broader adoption of ZK-powered solutions.

By acting as a universal proof verification layer, zkVerify allows other blockchain networks—including Layer 2 solutions and dApps—to offload the heavy verification process. This specialization significantly lowers transaction costs and computational burdens, enabling faster and more efficient operations within the Web3 ecosystem.

The project simplifies development. Developers can verify a wide range of proof systems without needing to implement complex, custom logic. This specialization enables a new modular paradigm where execution chains can focus on their core functions while proof verification is handled on a dedicated Layer 1 blockchain.

Key Features and Differentiators

• Dedicated Modular L1: Unlike monolithic blockchains, zkVerify is purpose-built to specialize in ZK proof verification. This focused architecture allows proofs to be verified on a sovereign Layer 1 with its own consensus and security model.

• Proof Agnostic: ZkVerify is designed to be compatible with a variety of ZK proof systems, including Fflonk, Groth16, and Plonky2. This interoperability minimizes technical overhead for developers.

• Performance and Cost Efficiency: As a dedicated Layer 1, zkVerify is built for speed and scalability. It is estimated to offer a potential 90%+ cost reduction for ZK proof verification compared to general-purpose Layer 1 networks.

• Developer-Friendly: The platform simplifies integration, allowing developers to offload proof verification without maintaining complex logic, which enables them to focus on product development.

Project History

ZkVerify was developed by Ellipsis Distributed Systems with Horizen Labs serving as a lead contractor. The project was conceived to address the challenges of cost and complexity in ZK proof verification as ZK-rollups gained prominence.

Key milestones in the project's history include:

• May 2024: The zkVerify testnet was launched, marking the introduction of the first modular solution for proof verification.

• September 2024: Engaged developers and the community with challenges and rewards to test proof verification at scale, laying the groundwork for mainnet readiness.

• Q1 2025: Key additions were made to ZK libraries, including the first production-grade Plonky2 verifier. The Volta permanent testnet was launched, introducing native staking, governance, and attracting over 70,000 participants.

• June 2025: The project announced partnerships with Horizen and an integration with Base, demonstrating real-world adoption.

• July 2025: ZkVerify reached 1 million proof verification transactions on its testnet.

VFY Token Utility and Supply

The native token of the zkVerify network, VFY, is central to its operation. Its primary use cases include:

• Transaction Fees: VFY is used to pay for transaction fees on the zkVerify blockchain, specifically for submitting and verifying ZK proofs, ensuring the network's economic security.

• Staking and Governance: Validators are required to stake VFY to secure the network, which incentivizes honest behavior and provides them with rewards. Additionally, token holders can participate in network governance by voting on upgrades and other initiatives.

• Incentivization: The token is used to incentivize developers through hackathons and grant programs, as well as to facilitate community engagement and broader adoption.

The total supply of the VFY token is 1,000,000,000.