Ethereum Layer 2 scaling solution ZKSync introduced the Elastic Chain, a scalable network of zero-knowledge (ZK) blockchains that encompasses rollups, validiums, and volitions. It is secured through math and is designed to be natively interoperable, offering a unified and user-friendly experience.
The Elastic Chain features an elastic architecture designed to expand the blockchain’s capacity limitlessly by adding new instances to accommodate increasing usage demands. This capability is facilitated by recursive ZK proofs that inherit properties such as unlimited parallelism for proof generation and efficient verification of computational outcomes in constant time.
This network includes several critical components: ZK Router, ZK Gateway, and ZK Chains. The ZK Gateway plays a pivotal role by facilitating seamless settlement of ZK Chains onto the Ethereum network. It aggregates proofs from multiple ZK blockchains into a unified proof capable of verifying the entire network on Ethereum. Additionally, it concatenates, deduplicates, and re-compresses ZK blockchain states into blobs, lowering verification costs for all users.
ZK Chains have the flexibility to settle transactions either through the ZK Gateway or directly onto Ethereum without compromising their security. Opting for the ZK Gateway, however, offers cost-efficiency benefits due to its data compression capabilities. The ZK Gateway operates through a decentralized network of validators, ensuring reliability. Participation in this validation process is contingent upon holding an ERC-20 token designated by ZKsync network governance.
The validators will impose charges for facilitating bridging services and for every byte of state difference data transmitted to the ZK Gateway. This fee structure implies that the earnings of ZK Gateway validators could increase as the volume of value transactions processed on-chain grows over time.
Today, ZKsync unveils the Elastic Chain — an ever-expanding network of ZK rollups, secured by math and natively interoperable under a uniform, intuitive UX.
Full post: https://t.co/GnbsErZKOZ pic.twitter.com/g9uScjAisa
— ZKsync (∎, ∆) (@zksync) July 2, 2024
ZKsync’s Protocol Update Facilitates Its Transition To Elastic Chain
It is a decentralized Layer 2 protocol designed to facilitate scalable and cost-effective payments on the Ethereum blockchain, leveraging ZK rollup technology. Developed by Matter Labs, it focuses on enhancing user-centric experiences through its ZK rollup platform.
Recently, ZKsync updated its protocol with its latest version, reconfiguring the ZKsync Layer 1 bridge into a shared router contract. This update aims to support an expanding network of interoperable ZK blockchains.
ZKsync Era marks the first blockchain in this ecosystem and will be later joined by twenty additional ZK blockchains currently under development on the ZK Stack and scheduled for launch in 2024. These developments facilitate ZKsync’s evolution from a singular Ethereum Layer 2 solution into The Elastic Chain.
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