What is zKSync?

Ethereum network is getting crowded as it attracts more people to smart contract-based DApps, from NFT markets to lending and gaming. It leads to lower transaction speed and higher transaction fees. Ethereum exploits a number of parallel blockchain highways to tackle this congestion, called Layer 2 scaling solutions. One of these measures is zkSync. zkRollup technology powered a trustless Layer 2 protocol for scalable low-cost payments on Ethereum which is called zkSync. It focuses on security, user experience, and developer experience. zkSync Version 1.0 was launched on the Ethereum mainnet on June 15th 2020. The current version of the zkSync 2.0 solves the needs of most applications on Ethereum and will provide developers with a design space to experiment with applications not possible now.

What is ZK Rollup?

With the Modular route of Ethereum, a lot of layer-two solutions have been found and among those Rollups are remedies that have attracted a lot of consideration. In other words, Rollups are regular smart contracts on the Ethereum mainnet that serve as the relay between the mainchain and Layer 2, where computations occur.  The Roll-up is divided into two kinds: ZkRollup (or Zero Knowledge Rollup) and Optimistic. We cover ZK Rollup here. Through the integration of sidechains, zkRollups leverage the core functionality of rollups. Generally, sidechains allow one party to prove to another that a transaction is valid without disclosing information beyond the validity of the transaction.

How does zKSync help Ethereum transactions?

ZK stands for Zero-Knowledge, like zkSync, while Rollups stands for Smart Contracts. The ZK-Rollups are smart contracts with the purpose of rolling up a huge number of transactions outside the main Layer 1 chain and merging them into a single transaction. Then, this transaction will be sent back to the main chain. The important matter is that both aggregate and zero coefficients save the network a lot of data bandwidth. Moreover, since the proof of transactions still occurs at Layer 1, ZK clusters do not harm the security of the blockchain.

What are its benefits?

  • Lower gas charges: Up to 1/100 of the Ethereum main-chain fee.
  • Higher speed: Up to 2,000 transactions per second (tps) versus the current 13-17 tps for Ethereum.
  • Security: zkSync inherits the security of Ethereum, which has never stopped working, unlike Solana and other competitors.
  • Token conversion: effortlessly move your crypto between L1 and Layer 2 without delays.

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