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Iva Wisher on PROM’s mission to revolutionize Blockchain interoperability
In this exclusive “Behind the Startup” interview, we meet with Iva Wisher, a driving force PROM, to explore the innovative world of ZkEVM Layer 2 modular solutions. With a focus on multi-chain interoperability, scalability and seamless user experiences, PROM is set to transform the blockchain landscape. Join us as we delve into the inspiration behind PROM, the potential of Account Abstraction, and the challenges and opportunities that await us in the ever-evolving Web3 ecosystem.
Ishan Pandey: Hi, Iva; It’s a pleasure to welcome you to our “Behind the Startup” series. What inspired the creation of PROM and its focus on modular ZkEVM Layer 2 solutions?
VAT Wisher: We have been in the game since 2019, introducing and contributing to various products across multiple industry sectors. This experience gives you good market sentiment and a crucial advantage in identifying what is missing in the current landscape. That background gave the starting point for the Prom you know it today.
Yes, undeniably, the market has changed a lot since 2019, and from the lack of product diversity within the space, we have moved on to another issue: the lack of interconnection between existing ecosystems and interoperability which hinders further growth and adoption. We are not the first to explore the possibilities of L2, but we aim to further improve its scalability with a multichain approach, simultaneous verification of transactions across chains and zero network downtime.
Ishan Pandey: How do you see AA (Account Abstraction) transforming user experience and what unique features does PROM offer in this regard?
VAT Wisher: Account Abstraction is one of the current and most obvious points to further promote mass adoption, thanks to the flexibility of daily blockchain interactions it entails.
We are looking into this direction and it is on our roadmap for the foreseeable future after the mainnet launch. We are particularly interested in the implementation of paymasters, which will simplify transactions by allowing gas fees to be paid with any token. The AA network implementation combined with a multichain approach significantly improves the user experience and provides a dynamic terrain for developers looking to build on Prom.
Ishan Pandey: Interoperability is a key feature of PROM, enabling seamless integration between EVM and non-EVM networks. How do you ensure safe and efficient verification of transactions across multiple chains?
Iva Wisher: At first glance it may seem a little complex, but if we compare it, it is quite easy to understand.
Take another L2 solution, Arbitrum, for example, which sends the proof tx to the Ethereum mainnet. Prom uses the same logic; however, it presents evidence to multiple chains at once, including Bitcoin.
This approach increases decentralization and eliminates the risk of downtime. If you send evidence to a specific L1 and it is down for a while, this also leads to L2 downtime.
In the case of Prom, sending tests to different chains brings the possibility of network downtime to zero.
Ishan Pandey: Given its emphasis on gas tariff reductions and scalability improvements, how does PROM incentivize developers and users to migrate their businesses onto the grid? What specific incentive programs does PROM offer to encourage adoption?
VAT Wisher: We will introduce an extensive developer support program to ensure smooth onboarding into our ecosystem. This includes grants, extensive partnership opportunities, technical support, and a set of authoring tools. We are committed to providing comprehensive support to Prom builders to foster a thriving ecosystem.
For users, our main mission is to maximize the efficiency and convenience of daily interactions: low-cost transactions, user-oriented interface, strong security and opportunities to contribute to the development of the Prom through DAO governance, powered by rewards and benefits for business and value.
Ishan Pandey: How does PROM aim to address the challenges and shortcomings that exist in the blockchain industry?
VAT Wisher: The answer lies in Prom’s core features. First, we promote multi-chain interoperability and build a bridge between networks, which is necessary but lacking, as most L2 solutions focus on a single chain. We are also leveraging zk-Proofs, which is currently still a rare stack for L2 but has several crucial advantages over the OP stack in terms of security and withdrawal time.
Furthermore, we are building L2 solutions for non-EVM-compatible chains, to expand efficiency and bring advanced functionality, for example, also to Bitcoin and Solana.
Ishan Pandey: Given the evolving regulatory landscape surrounding cryptocurrencies and blockchain technology, how do you address compliance challenges, particularly regarding multichain interoperability and transaction security?
VAT Wisher: Fair question, considering some of the latest high-profile cases. Well, for now the regulatory landscape is rather uncertain and constantly evolving. We remain true to the core values of user safety and transparency and always take into account possible changes in the compliance framework. We work closely with other industry leaders to ensure we are always up to date on the latest regulatory advances.
It is in our interest to be flexible and meet the challenges posed by the dynamic regulatory environment we face today. It is a necessity for long-term growth.
Ishan Pandey: Web3 represents a paradigm shift towards decentralized and peer-to-peer networks. What opportunities do you see for Web3 in disrupting various industries, and what role do you think you can play in shaping that future?
VAT Wisher: Every year we see the further integration of blockchain capabilities into the broader landscape. Take DePIN, ETFs, the RWA industry, the rise of mass adoption of cryptocurrencies as an everyday financial tool, and countless industries that had no connection to Web3 before considering blockchain implementation. The possibilities of technology are limitless.
As for Prom, our core mission is to simplify the way crypto users interact with an advanced decentralized world. We are doing this by offering cheaper and faster transactions and connecting users to numerous networks with our technology stack. All of these initiatives drive broader adoption, step by step, and we’re excited to see what comes next, contributing to this growth and providing a platform for aspiring Web3 products to build and scale.
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Disclosure of vested interests: This author is an independent contributor who publishes through our corporate blogging program. HackerNoon has reviewed the report for quality, but the statements contained herein belong to the author. #DYOR.