Coinspeaker
Zora Proposes ‘Spark’ as New Unit for Ethereum Transactions
NFT marketplace Zora has proposed a new unit called “Spark” to simplify Ethereum transactions. One Spark represents a millionth of an ETH and is symbolized by “✧”.
This change replaces complex decimal figures with a straightforward unit. Currently, Ethereum’s smallest unit is wei, which is one quintillionth of an ETH.
While precise for developers, such tiny fractions are impractical for everyday users, resulting in lengthy and confusing numbers. Zora’s introduction of Sparks addresses this issue, making transactions easier to understand. Instead of saying “0.000001 ETH”, users can now simply say “one Spark”.
Photo: Zora
Simplifying the denomination helps reduce confusion and enhances the user experience. Zora announced the new unit in a detailed blog post published on their official website.
Why Spark Works
Zora chose the name “Spark” for its simplicity and ease of pronunciation. The term is easy to spell and type, ensuring clear communication. It’s also easily understood when spoken aloud, passing the “bar test” – people can understand it even in noisy environments.
The unicode symbol “✧” was selected to represent Sparks, similar to how “$” represents dollars. The unit is designed for universal use, not just within Zora’s ecosystem. The name “Spark” carries a positive connotation, making it more appealing and reducing the potential for confusion.
This proposal is part of Zora’s ongoing efforts to innovate within the blockchain space. Since its founding in 2020, Zora has facilitated over $300 million in secondary sales and has nearly one million unique collectors. The platform is built on the Optimism layer-2 blockchain, which aims to expand the Ethereum ecosystem.
Introducing Sparks aligns with their mission to make blockchain technology more user-friendly and accessible. Zora plans to integrate Sparks into their mobile platform in the coming weeks, marking a significant shift in how transactions are managed.
Exploring AI Opportunities
Zora is exploring the integration of artificial intelligence (AI) with blockchain technology. Co-founder Dee Goens highlights that Zora aims to leverage AI to bring more transactions and data on-chain. This integration can increase the overall value and functionality of the ecosystem.
Recently, Zora introduced a feature allowing creators to use AI to generate and mint NFTs, making it easier and faster to produce digital art. This new capability provides a passive income stream for creators of large language models, allowing them to capture value from their models’ outputs when people mint them. The payouts are automatically split, ensuring fair compensation for the creators.
These latest developments aim to establish Zora as a key player in the evolving landscape of digital assets. As the platform continues to innovate, it is well-positioned to lead and influence the future of the NFT space.
