In the world of cryptocurrencies and blockchain technology, innovation is undoubtedly a constant, one that we can clearly see embodied in Zora Network and its well-known decentralized application, ZORA.
Zora is divided into two projects. The first is the Zora Network, a Layer 2 network built using OP Stack technology. And the second is ZORA, a decentralized social network designed for NFT creators.
Both creations are complementary, as the Zora Network is the network on which the ZORA dApp runs, and it is also the bridge that allows ZORA to be joined with the rest of the OP Stack networks (such as Base or Optimism) and with Ethereum (which is the Layer 1 of the Zora Network).
That said, we can define the Zora Network as a Layer 2 (Layer 2 or L2) built on top of Ethereum, using OP Stack technology. But what does this mean exactly? Well, let’s remember that a Layer 2 refers to a separate network that extends the capabilities of Ethereum, allowing users to take advantage of its advantages and introduce improvements and optimizations. Zora Network is based on the OP Stack open source, maintained by the Optimism Collective.
Although Zora developed and released the Zora Network software, this group does not operate the Zora Network itself. Instead, the Zora Network works thanks to the effort and work of all the network node operators, who are the ones who maintain the proper functioning of the network, as well as its security and the possibility of it providing its services to all users interested in this network.
The creation of the Zora Network is closely linked to the creation of the Zora dApp. In fact, one without the other would not exist, since the Zora dApp, its smart contracts and all its interactions are only possible thanks to the existence of the Zora Network. In fact, you can follow all the activity of the Zora Network in the block explorer of OP Stack, such as Superscan.
But you may be wondering, why have they created a network of their own for a decentralized application? The reason is very simple: to provide your users with a fast experience at a minimum cost. In fact, transactions on the Zora Network are usually as cheap as $0.04, including interaction with NFTs, something that on other chains could very well cost you more than $10.
Hence the success of ZORA as an app. For its users, using this network and creating NFTs is very economical, which allows them to generate very elaborate creations, which in the end will have a minimal cost (in terms of commissions) but can be sold to other users (if they wish to buy them) for a free cost (auction) or determined by the creator of the NFTs. That’s without neglecting the human interaction that can be seen in the ZORA app, due to the fact that it’s a social network.
The future possibilities of Zora Network are vast. As more developers and projects join the network, we can expect to see an expansion in the variety and complexity of applications built on top of it. Additionally, as blockchain technology evolves, Zora Network has the potential to adapt and incorporate new innovations, staying at the forefront of scalability solutions.