Parbit

Ethereum (ETH) The zkSync 2.0 scaling solution was developed by combining the EVM-enabled zkRollup and zkPorter, an off-chain data availability system dubbed “the engine for mass adoption of cryptography.”

Since the two are interoperable and composable, contracts and accounts on the zkRollup side can seamlessly interact with accounts on the zkPorter side and vice versa.

1 to 3 cents transaction fee

The ZK rollup is an L2 solution for increased scalability that, in short, bundles or “bundles” hundreds of transfers into a single transaction. Each batch generates cryptographic evidence, called ZK-SNARK, which is posted on L1.

Meanwhile, an off-chain data availability system, zkPorter, allows two orders of magnitude more scalability than rollups.

Data availability for zkPorter accounts is secured by Guardians, who participate in Proof of Stake (PoS) with the zkSync token.

In addition to taking advantage of “crypto-economic guarantees of data availability,” the point of sale in zkSync also provides a high level of security, with Guardians only being able to freeze the zkPorter state, but without being able to steal funds. In such a scenario, zkRollup users will still be able to withdraw their funds.

Users can choose between the two security thresholds. Those who prefer all the data available on the chain may choose to stay on the stacking side, while exponentially cheaper fees can attract fee-sensitive users and vigorous traders to the zkPorter side of the state.

By the way, when paying for gasoline, users can opt for any popular ERC-20 token.

Major partnerships

More recently, Huobi revealed that it will offer direct ramp and logout to zkSync.

“Huobi users will no longer need to pay high mainnet transaction fees to deposit and withdraw assets from zkSync, and zkSync users will be able to take advantage of Huobi’s liquidity and scale,” The Seychelles-based cryptocurrency exchange said in the partnership announcement.

The partnership followed Huobi Ventures strategic investment in Matter Labs, the company behind zkSync, responsible for the early ZK evidence on Ethereum.

Meanwhile, another major crypto services platform, Blockchain.com, is gearing up to bring the next billion users into the Matter Labs protocol.

“We believe that rollups and ZK technology are a powerful avenue to evolve blockchains without sacrificing security. zkSync makes it easy for developers to adopt this powerful technology, which will help bring crypto to the next wave of users, ”said Samuel Harrison, partner at Blockchain.com Ventures, as the company joined the list of funding partners strategies of zkSync.

Quadency

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