The .xyz community is home to web3 developers who are at the forefront of developing cutting-edge tools and solutions with the goal of fully realizing the potential of blockchain technology. Data infrastructure firm N.xyz is aimed at providing developers with an easier way of working with blockchain data. Decentralized finance platform Matcha.xyz aims to get crypto traders the best rates on currency exchanges. Blockchain software development company Fun.xyz strives to leverage new blockchain technology to advance global economic freedom. In this week’s #BlockchainThursday, we’ll introduce you to blockchain technology aimed at providing developers with a powerful tool for building decentralized applications: Axiom.xyz.
Tech startup Intrinsic Technologies created Axiom.xyz as part of their efforts in tackling the hard research and engineering problems necessary to make zero-knowledge (ZK) accessible to smart contract developers. ZK is a cryptographic concept that allows two parties to verify the authenticity of a statement without revealing any additional information beyond the validity of the statement itself. Intrinsic Technologies developed Axiom.xyz on the Ethereum blockchain, with the aim of helping smart contracts to securely access on-chain data and perform complex computations without compromising privacy. The technology uses zero-knowledge proofs (ZKPs) to enable these capabilities with a powerful tool for building decentralized applications. A ZKP is a method of proving something to someone without revealing any details about it. ZKPs are useful in situations where you want to prove something to someone without revealing sensitive information, like in financial transactions or online privacy.
Axiom.xyz is designed to extend the capabilities of standard blockchain consensus with ZKPs. They aim to help smart contracts perform computations and access data in a way that prioritizes privacy and security. Their goal is to help developers create decentralized applications that are more efficient, scalable, and secure.
An important feature of Axiom.xyz is its claim of being able to provide trustless downstream use of ZK-verified results on-chain. “Trustless downstream use” means that you can use something without having to trust the entity that provided it to you, because the system is designed to function in a way that removes the need for trust. This could eliminate the need for third-party oracles, enhancing security, and making it possible for developers to build more secure decentralized applications.
Co-founder Yi Sun recognizes the significance of selecting an .xyz domain. As he explained to us, “Axiom.xyz is building a ZK coprocessor for Ethereum to empower developers to build richer applications with zero-knowledge proofs. As crypto developers ourselves, we chose .xyz to demonstrate our commitment to open-source, trustless, and community-first technologies.” We are inspired by Yi and his progress in making ZK accessible to smart contract developers with Axiom.xyz. You can learn more by following the company on Twitter @axiom_xyz, joining the Discord, and by visiting Axiom.xyz. As of March 27, 2023, parent company Intrinsic Technologies is actively developing their website on IntrinsicTech.xyz. Be sure to visit for additional information.
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