Measure flour into a pie plate. In another pie plate combine panko and salt and pepper, to taste. In a third plate add eggs and water. Dredge the zucchini in the flour, followed by the egg wash and finally in the panko. Press crumbs into the zucchini rounds.
Working in batches, place the breaded zucchini slices in the hot oil and fry until golden brown (I just did this in a large frying pan) , 3 to 4 minutes. Drain on a paper towel lined sheet tray and immediately season with salt and pepper and sprinkle with Parmesan if you like. The serve with ranch dressing or marinara/spaghetti sauce.