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ABCDE: Why We Invest in GasZero

23-09-12 20:37

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Original author: ABCDE

GasZero is a gas-free 2-layer blockchain network that allows trusted users to transfer and use on-chain applications without any gas fees. GasZero's vision is to bring one billion users to web3 and enjoy zero gas fees and frictionless interaction experience.

GasZero greatly improved the conversion rate of users onboard to Web3 in the Web2 deployment test, with a 146-fold increase in conversion efficiency compared to blockchain deployment with gas fees. In addition, in the 0 gas blockchain environment, the user's lifecycle in dApps has been greatly extended, as gas fees have always been a huge cost of using blockchain.

ABCDE has led the investment in GasZero in the angel round.

1. Gaszero increased the conversion rate of new transaction users from Web2 to Web3 by 146 times

We have been working hard to bring Web2 users into Web3, but there are three major obstacles in front of Web2 users:

1. Mnemonic words

2. Fiat Channel.

3、 Gas fee

(Note: The original text is already in English, so no translation is needed.)

These three obstacles are extremely difficult learning costs for Web2 users, and each one will discourage a large number of users. When testing the conversion rate of traditional blockchain in Web2, GasZero's conversion rate was only 0.15%, while in the gaszero environment, the conversion rate can reach more than 22% (as shown in the figure below).

So when can our parents also use blockchain at zero cost, and when can blockchain truly achieve Massive Adoption? Nowadays, there are already MPC/AA products like Particle Network in the area of mnemonic words, and products like Moonpay in fiat currency accessibility. However, there is still no systematic solution for gas fees. GasZero is the first solution that delves into the underlying layer of the chain.

GasZero integrates the MPC/AA solution from Particle Network, fiat payment solutions such as Moonpay, and a blockchain solution with 0 gas fees. In tests on platforms such as Google and Facebook, the same ad conversion rate increased from 0.15% to 22%, a 146-fold increase.

GasZero eliminates the barriers for Web2 users to enter Web3, making the product experience between Web2 and Web3 indistinguishable. Our parents and other users who have never used blockchain can also enter Web3 without any obstacles.

2.Gas0 Technical Features

In the GasZero network, "backend subsidies" are used to subsidize gas fees for users. "0 Gas" refers to trusted end users who are exempt from gas fees in transactions and contract interactions. The exempted 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 free gas fees, they can still choose to pay the gas fees themselves to complete the transaction.

When users initiate on-chain interactions in GasZero, their MetaID, MetaShield, and Trust Oracle will be comprehensively analyzed to determine their eligibility for Gas fee exemptions. This analysis includes the following factors:

Whether or not you are a whitelist user for the contract.

Whether it is marked as a malicious attacker or spam sender.

Whether to interact with assets on different EVM chains.

Users who meet the requirements can enjoy the promotion of free gas fees (customizable for specific time periods, frequencies, and contract interaction options).

Note: GasZero's 0 Gas solution is different from AA Wallet's delegation payment method. It runs at the node level, providing higher levels of flexibility and security. Compared to the method of paying first and then reimbursing, it can also provide a better user experience.

GasZero aims to achieve 0 gas by saving gas on the traditional chain. The GasZero team has chosen to optimize the zkEVM architecture to reduce the cost of zk itself. In addition, the team can also adopt the method of building its own DA to further reduce costs. The goal of achieving 0 gas can be achieved by having node miners cover a portion of the cost.

In addition, in order to prevent fraud, GasZero has cooperated with some DID projects. Existing web3 users can verify whether they are real users through ZK Me or by accessing the SDK of Worldcoin. For new web2 users, the number of transactions that can be initiated by a single user within a certain period of time can be limited to prevent network congestion and waste. In addition, a more secure version of the RPC node has been designed to ensure the security of the transaction process. The team has accumulated a lot of experience in anti-brushing from previous game experiences, which is helpful in reducing incidents of fraud and attacks.

Key elements in the product:

MetaID:

MetaShield:

Meta Shield is an important audit mechanism for 0 GAS services on the GasZero platform. When users initiate transactions in any dApp, Meta Shield will conduct a comprehensive evaluation, including the following:

1. First-level dynamic strategy: Filter out users engaged in fraudulent activities or operating multiple accounts.

2. Application whitelist: Check whether the user initiating the transaction is included in the dApp whitelist.

3. Reputation Oracle: The main logic of the reputation system is to evaluate the user's historical behavior data on and off the chain, thereby giving a comprehensive score indicating the user's quality.

4. Dynamic strategy level 2: Provide more flexible customization options, such as the daily limit of transaction fees borne by the platform.

5. Contract whitelist: Check if the user interacting with the contract is on the whitelist.

Credibility Oracle:

GasZero Credibility Oracle evaluates and rates GasZero users based on multiple dimensions, including the completeness of their account information, wallet address activity, and platform contributions. The oracle conducts comprehensive analysis of the collected data, assigns scores based on different dimension weights, and ultimately provides corresponding scores for all GasZero users. When a user's score reaches the set threshold, they are entitled to the privilege of 0 gas transaction fees.

3. Refactoring the business model of Web3 chains

In the past, the business model of Web3 blockchain was based on the rent-seeking model of charging users and Dapps. Users and Dapps had to pay gas fees for every transaction, just like paying tolls. These gas fees became the income of the chain and miners. However, this rent-seeking model seriously affected the value experience of users and Dapps. Who would want to pay fees every time they make a transaction? This is also one of the reasons that hinder Web3 from truly entering massive adoption.

GasZero is restructuring the business model of blockchain by subsidizing users' gas fees to achieve zero entry barriers, capturing a large number of users, and then realizing commercialization. This model has been repeated in the history of the Internet:

In 2005, Shanda pioneered the "game free, value-added services charged" model through "Legend", and all its games implemented a free model, creating a new profit model for the online gaming industry - CSP (come-stay-pay), becoming the strongest online game.

Qihoo 360 Antivirus defeated other antivirus software such as Rising Antivirus and Kingsoft Antivirus through its free mode and became the antivirus software with the largest market share through the "free software, advertising revenue" model.

We believe that by subsidizing users through retroactive fees, the growth pattern of blockchain users will truly change. Only with enough users can there be enough social value, and only then can blockchain innovation truly take root.

4. GasZero roadmap

Gaszero deployed its testnet on 8.24 and completed 300,000 transactions with 0 gas fees. It is estimated that there will be a polishing period of 3-6 months, and the Beta testnet will be launched in Q1 2024, followed by the Alpha mainnet in Q2 2024.

(1) Testnet Phase 1:

Test objective: Era7 game trading adopts zk-rollup + 0gas.

Architecture: zkEVM + Opside

dApp：Era7: Game of Truth

Browser: https://era7.zkevm.opside.info/

Official market testing URL

https://marketplace-freegas.era7.io/

Game testing URL

https://game-freegas.era7.io/

ERA Token contract address

0xe9Ab1d84a314E7aFf0B06D0Ad39D5F70e0B98988

GOT contract address

0x50E84dF0559F4515a88920366d7C623008222BEd

0gas Test Experience Manual: https://docs.google.com/document/u/1/d/e/2PACX-1vTfFFA6t4ZuOsBWNEqZCN8hUsaJXOSsPqemx4BwOMNctmv2912WtEVaifBKeI_bkA-abEBgb8U3UH_P/pub

(2) Testnet Phase 2: (Testnet launched on 9.11)

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 testing URL

https://goerli-era7-marketplace.gaszero.com

Game testing URL

https://goerli-era7-game.gaszero.com

ERA Token contract address

0xe9Ab1d84a314E7aFf0B06D0Ad39D5F70e0B98988

GOT contract address

0x50E84dF0559F4515a88920366d7C623008222BEd

0gas Test Experience Manual: https://docs.google.com/document/d/e/2PACX-1vTTq2Q_3T3IZCWVqjA8c0WXePUOGhSaSVqvIgsIFkPmHHP71_ocUB9AlfxMphJPgqxPsO72sooJZv6f/pub

附：

Note: This is a HTML tag and should not be translated.

Network Name: GasZero-Goerli-L2

RPC URL: https://goerlitest.gaszero.com

Chain ID: 12021

Currency Symbol: GAS0

5. Team combining traditional gaming and blockchain technology

Adam Zhao, CEO, MBA

https://www.linkedin.com/in/adamziyuan/

Cambridge University EMBA

TCG card battle game ERA7- CEO & CoFounder

Proton Network is an efficient data interoperability public chain, with COO & CoFounder.

Formerly employed by British Telecom to oversee the high-frequency trading network for the financial industry, he returned to China and founded the programmatic advertising platform Proton Cloud, focusing on traffic acquisition and monetization in the gaming industry.

Web3 Experience:

Proton Network is an efficient data interoperability public chain founded in late 2017 that entered the CMC top100 in the blockchain industry.

At the end of 2020, the "Fist of Truth" web2 game was transformed and the web3 card game Era7: Game of Truth was released. For six consecutive months, it ranked in the top three in terms of DAU, transaction volume, and NFT generation on the BNBChain gaming platform.

XianRui Meng, CTO, PhD

https://www.linkedin.com/in/xianruimeng/

https://www.xianruimeng.org/

2016- 2021

At Amazon, Facebook, and Apple, I worked as a scientist and tech leader.

2015

Microsoft Research

During my time at Boston University, I was a member of the DBLab and BUSec in the Computer Science department. My doctoral thesis focused on privacy-preserving queries in encrypted databases.

Previous research has focused on HE, MPC, ZKP, and other areas.

Has published many papers on privacy and databases.

6. Summary

After 15 years of development, the blockchain industry has been unable to break through the pain point of 400 million active users, which is surprisingly similar to the user scale under the early Internet license service mechanism. The software and applications are free, completing the qualitative change of the Internet from 400 million to 5 billion users and giving birth to a new type of Internet model. We also believe that the free model is a way for web3 to break through the bottleneck of 400 million users, and the demand for 0 gas blockchain has emerged.

GasZero eliminates the barriers for Web2 users to enter Web3, providing Dapps with no mnemonic phrases and no gas fees, making the product experience of Web2 and Web3 indistinguishable. We believe that through this zero-threshold, zero-difference product experience, Web3 users will truly achieve massive adoption.

About ABCDE

ABCDE is a VC that focuses on leading 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 BMAN, a former Internet and Crypto entrepreneur. The co-founders of ABCDE have built companies worth billions of dollars in the Crypto industry from scratch. Because we are entrepreneurs, we understand entrepreneurs better. Moreover, we have built end-to-end ecosystems for ABCDE's Builders, including listed companies (1611.HK), exchanges (Huobi), SAAS companies (ChainUP), media (CoinTime.com), and developer platforms (BeWater.xyz).