Glossary and Useful Links

Virtual Labs Explained

Terms Explained

Virtual Labs (0x Virtual Labs Inc.) - the Company responsible for creating and maintaining the Virtual Engine.

State Channel - An escrow account that allows users to deposit, and exchange locked funds directly over a P2P network, bypassing expensive gas costs and long settlement times.

Virtual Engine - Blockchain's first ZK State Channel, a protocol made up of a P2P communication layer, cryptographic proof scheme, and onchain contracts, bundled into an SDK for Web3 developers.

ZK State Channel - A multi-chain, dynamic state channel that allows an unlimited amount of users to self-validate zero-knowledge proofs and eliminate gas and latency.

Virtual Rollups (Zero-Gas Transactions) - The implementation of ZK State Channels which allows game players and DEX users to trustlessly open channels, make an unlimited amount of interactions or trades, and close the channel.

Virtual Bridge (Instant Cross-Chain Access) - The implementation of ZK State Channels which allows a user to lock funds on one chain and trustlessly interact with a DApp on a different chain without friction or third-party permissions

Virtual Wallet (Multi-Chain Passport) - The implementation of ZK State Channels that enables automatic yield and zero-gas transactions. A user's interface that connects to existing wallets and facilitates interaction with the Virtual Engine.

Autonomous Teams - José Betancourt's ideology that horizontal organizational structures introduce redundancy that is offset by higher entrepreneurial thinking among team members. These team members must be selected by frontloading friction to encourage the unfit to self-select out, ensuring those left have high agency.

Decentral-Maximalism - Virtual Labs ideology to not compromise on trustlessness ever. ZK State Channels are seen as a more secure and decentralized solution to appchains and L2s.

Workable Web3 Summit - Virtual Labs' recurring conference co-hosted alongside Manta Network that focuses on making Web3 Workable. Workability = utility + scalability.

ZK Accumulator - The specific cryptographic bundling scheme made up of Plonky2 and MuSig proofs which can sign any amount of data for a fixed size. This is Virtual Labs' innovation and "secret sauce."

Virtual Points - Incentive rewards that will convert to $VRTL at a fixed ratio.

$VRTL - Virtual Labs' future utility token which will power the Virtual Engine ecosystem.

Virtualizer - Virtual Labs community member, tokenholder, and supporter.

Motto: Streamlining Web3 UX Through ZK State Channels.

Goal: Zero-gas, zero-latency, and zero-friction crypto transactions.

Vision: Blockchain mainstream adoption.