Kontos
Over the past years, blockchain technologies have led to the emergence of numerous innovations, but the problem of their mass adoption by ordinary users remains. First and foremost, this concerns the complexity of interacting with different blockchains and using cryptocurrency wallets.
- The first challenging step is creating an account in a cryptocurrency wallet. Typically, this involves creating a unique mnemonic seed phrase — a password consisting of 12/24 code words that need to be memorized, written down, stored somewhere, and not shared with scammers.
- The next problematic step for newcomers to the world of cryptocurrencies may be acquiring cryptocurrency or gas tokens for the network that your decentralized application uses, without which it will be impossible to transfer funds in your wallet.
- The third problem for a novice will be using multiple different blockchains, tracking their assets in different networks, and moving between them. Moreover, the process of transferring tokens between different blockchains using bridges can be even more complex.
As a result, most users currently manage multiple accounts and assets in different blockchain networks. This becomes a serious barrier to entry for newcomers, as it requires a certain level of technical skills and knowledge of various blockchain networks.
Can we use one account and one asset for all networks?
The Kontos project aims to solve this problem, bringing "mass adoption", the acceptance by a wide range of users of cryptocurrency technologies, closer.
Kontos has developed an innovative technology: an L2 account protocol for managing your crypto assets, which uses zero-knowledge data technology (zk), offering one account for multiple different blockchains, providing simple and convenient operation for users, especially beginners.
Its advanced architecture provides:
- transactions without the need to pay gas with a specific token
- security without the need to use a mnemonic phrase, making user interaction with multiple blockchains easier than ever before.
This makes user interaction with multiple blockchains easier than ever before.
Kontos — one account and one asset for all blockchain networks. This is one of the leading directions in Account Abstraction in blockchain technologies.
Account Abstraction is a concept in blockchain that proposes to unify the processing of accounts and smart contracts, making account management more flexible. In traditional blockchain systems, such as Ethereum, there are different types of accounts: user accounts and smart contracts. Account Abstraction proposes to make the account management process simpler and more convenient, allowing users to interact with the blockchain more flexibly, without delving into technical details.
Features of the Kontos protocol
One of the most important innovative features of Kontos is its readable address system. Traditional blockchain addresses can be long and difficult to remember, making them prone to errors and susceptible to fraud. Kontos addresses are easily readable, simplifying their memorization and information exchange. Additionally, Kontos offers an account recovery mechanism via social connections, allowing users to recover their accounts in case of, for example, device loss or theft, by relying on trusted friends and family members. This provides an additional level of security and peace of mind for users.
Using a single asset for all necessary actions in the network and low gas fees
2.Users can use the single asset they have in their wallet balance to interact with different blockchains, paying gas and fees with it. Additionally, Kontos offers low gas fees, meaning users can perform transactions on different networks without worrying about high fees or needing specific tokens to pay for gas.
Phone as a hardware wallet of increased security Kontos offers a solution by allowing users to use their phone as a hardware wallet. This eliminates the need to purchase additional hardware wallets, making the technology more accessible to users.
To ensure the security of user assets, Kontos directly interacts with L1 blockchains and uses their security measures as a foundation. Additionally, Kontos utilizes a lightweight client-based interchain communication system, ensuring that all interchain transactions are secure and protected from unauthorized access.
A lightweight client or lightweight node is a part of software that connects to full blockchain nodes to interact with them as intermediaries. Lightweight clients do not need to run 24/7 or read and write a lot of information to the blockchain, as they do not interact directly with the blockchain.
Let's delve deeper into the Kontos architecture.
The system architecture diagram depicts several key components interacting with each other:
- User (USER) initiates interactions through the application (H5/App), which includes an embedded wallet. Users can also interact via Kontos Telegram and Discord bots.
- Task Board lists various tasks such as Ethereum transactions, exchanges on Binance Smart Chain (BSC), purchasing NFTs on Polygon, games on Arbitrum, and more.
- Tasks are then routed to the Broker Network and Prover Network, which process tasks and generate zk proofs. Brokers execute tasks from users, prepay other necessary assets to users, collect fees, and forward transactions to other blockchains.
- The Relayer Network synchronizes block headers of different blockchains like Ethereum and BSC with the Kontos network.
- In the context of Kontos, A4 and EVM (Ethereum Virtual Machine) denote compatibility with Ethereum and support for cross-chain operations.
- The end result is task execution and reward acquisition within the Kontos network, linking user tasks with blockchain networks and decentralized applications (dApps) across different networks (e.g., Ethereum and BSC).
- At the center of it all is Kontos, represented as a zk-friendly network, compatible with EVM, emphasizing the protocol's focus on security and extended functionality.
- zk-friendly (zero-knowledge friendly): The system can handle or support transactions and processes that ensure privacy without revealing unnecessary information about the parties or transaction contents.
- EVM (Ethereum Virtual Machine): A computational environment that enables running applications and executing smart contracts on the Ethereum blockchain.
The project is in an advanced stage of readiness and Kontos can already be tested as a web application, a Chrome browser extension, or a Kontos bot on Discord or Telegram. The service is already gaining mega-popularity, with over 125,000 user accounts registered on the protocol.
Kontos has developed an innovative protocol, offering a unified account for multiple blockchains, readable addresses, the use of a single asset for all actions, low gas fees, phone as a hardware wallet, a mechanism for account recovery through social connections, and a higher security model for newcomers. Thanks to these features, Kontos simplifies the use of blockchain-based applications and provides an easy entry point into the world of Web3.
Team
Kontos is not just a startup, but an evolution of the Zecrey Protocol project. It is backed by an experienced team, Zecrey Labs, which successfully implemented and developed the Zecrey Wallet cryptocurrency wallet in 2022-2023. In late 2023, the decision was made to gradually phase out the wallet and move to the development of a next-generation product - Kontos Protocol.
Zecrey Labs also continues to develop its own NFT marketplace zkLegend, which will become part of the Kontos ecosystem.
The team of 14 has relocated to Singapore.
- Gavin Gao
Formerly Head of Engineering at Daemon Technologies.Head of Technical Community at Blockstack PBC.
https://www.linkedin.com/in/gavin-gao-938651197/ - Bing Wang
Web3 builder
https://www.linkedin.com/in/bing-wang-a96819152/
Investors
A significant portion of investments were secured under the Zecrey Protocol, which later evolved into the Kontos Protocol.
Binance Labs as Strategic Lead Investor
- Binance Labs, the venture capital arm of the renowned cryptocurrency exchange Binance, emerged as a prominent public investor.
- Binance Labs injected $6 million in May 2022, leading the Strategic round.
- Binance Labs fosters innovation and supports the growth of blockchain technologies, cryptocurrency businesses, initiatives, and communities.
- The fund invests in promising projects and founders contributing to the decentralized ecosystem.
Spartan Group: Tier 1 Venture Capitalist
- Established in 2017, Spartan Group is an active investor in the cryptocurrency venture market.
- Associated with the Goldman Sachs banking consortium, the firm has invested in leading crypto companies and networks.
- Spartan Group engages in Web3 capital raising, mergers and acquisitions, leveraging its experience with top-tier teams, industry expertise, and extensive network.
- The group employs a fundamental approach combined with rigorous project evaluation and robust risk management.
- Spartan Group supported Kontos Protocol from its inception, acting as the lead investor in the Seed round in early 2022.
Fenbushi Capital: Renowned Asian Crypto Fund
- Founded in Shanghai in 2015, Fenbushi Capital is one of the oldest Asian crypto funds with an impressive portfolio.
- Ethereum creator Vitalik Buterin serves as an advisor to the fund.
- Notable crypto projects in Fenbushi Capital's investment portfolio include Flow, Consensys, Coinlist, Kusama, Messari, and Dapper Labs.
- Fenbushi Capital was an early investor in the Kontos Protocol.
- The Kontos Protocol investment landscape includes venture arms of cryptocurrency exchanges ByBit and Gate.io.
- Reputable funds such as Amber and CMT Digital, along with established players Shima Capital and Fundamental Labs, also support the project.
Token Utility
$KOS tokens have several important functions and are used for staking and receiving discounts for using the protocol:
- Staking: Allows users to become validator nodes to distribute system income from performing tasks on the blockchain.
- Discounts: The protocol currently supports users to use any asset with a certain level of liquidity to pay various fees for executing tasks on the blockchain, even if the liquidity of these assets is relatively low. The Broker Network sets buy and sell prices for each asset, which are dynamically adjusted in accordance with changes in prices. However, if Kontos assets are used as a means of payment, the payment price will correspond to the price on the spot market, without commissions.
Tokenomics
- Token: $KOS
- Network: Ethereum
- Round: Series A
- Token Price: $0.2
- Vesting: 25% TGE unlock, then linear unlock over 12 months
- TGE: Q2 2024
- Exchange Listing: OKX listing in negotiations, using their launchpad program OKX Jumpstart
Social networks, links
🌐 Website: https://www.kontos.io/
📁 Documents: https://docs.kontos.io/
🐦 Twitter: https://twitter.com/Kontosio
📱 Telegram: https://t.me/zecrey
💻 Discord: https://discord.com/invite/zecrey
💻 Medium: https://kontosio.medium.com/
Innovative L2 protocol for Web3 accounts that simplifies the use of blockchain-based applications and provides an easy entry point into the cryptocurrency world.
A team of experts with a proven track record of building successful products.
Top investors led by Binance Labs and Spartan.
The project is in the final stages of development and will soon be launched on the market.
A short vesting period for tokens for our round, with a large unlock immediately on TGE.
We strongly recommend adding this in-demand and potentially top project to your crypto portfolio.