For anyone who understands the true state of the world, the corollary to fair politics does not hold.
The ZKsync airdrop in 2024 caused strong dissatisfaction. Some people invested millions in three years, but all their addresses were wiped out and all were witches. A large number of crypto investors said that they would immediately uninstall ZK tokens as soon as they were listed on the exchange.
It feels like holding the emperor hostage to control the princes. Personally, the project does have potential, including its popularity, which is seriously in the second place. There is no need for the exchange to make a little money and lose more than it gains. However, seeing that several exchanges have listed it, it has aroused my instinctive curiosity to find out more.
As Optimism, Arbitrum, Starknet, Base, Scroll, and more L2 chains engage in the battle for PVP market dominance, not all advanced technologies will experience a bull run.
Get ready for the endgame - zkSync $ZK bull thesis.Crypto tends to repeat the story of the last cycle. The scalability debate between Ethereum and L1 attracted new capital in the last cycle.
“Faster, Safer, Cheaper” I expect the “scalability race” between L2s to trigger capital inflows this cycle. In fact, the L2 race (aka “L2 wars”) has already begun.
Since the Dencun upgrade, daily transaction volume of Ethereum rollups has increased to 2-3 times of the previous level (b) Currently, 55 projects have been listed on L2beat, and many new L2s are coming soon. Which projects should we pay attention to? "ZK Scaling" will dominate in the second half of 2024.
Vitalik also said that "ZK is obviously the ultimate goal." ZK L2 can theoretically process an unlimited number of transactions simultaneously, allowing millions of TPS across multiple rollups. The key is that ZK systems can (reasonably) scale horizontally, while optimistic systems cannot.
Optimistic Rollup has some limitations: - 7-day challenge period for transaction finality -
Large amounts of data are published to L1, reducing efficiency - Limited horizontal scalability - Each L2 requires its own full node to work properly - Requires expensive intermediaries - Low level of decentralization This is why ZK Rollup is the next generation technology.
Regarding the Short Witch, ZK admitted that he had checked the short addresses and found that there were millions of robots operating, and the behavior patterns of these robots were no different from those of real people.
Traditional activity-based airdrops are completely useless for building resilient and sustainable communities. The airdrop design is unconventional and has its imperfections, but I believe reasonable trade-offs have been made.
Zk said the project is rewarding hundreds of thousands of people and creating life-changing opportunities for many of them. They also recognize that many people are upset because they are getting less than they expected. They will not take it lightly.
Days and nights were spent studying reports and double-checking data to get the full picture and eliminate any possible errors.
No major issues were identified, but it was recognized that communication about the details of the airdrop design was not clear enough. To address this, an initial set of FAQs have been developed to address your most pressing questions.
We are preparing a more systematic way for the community to collect and prioritize feedback, and will do our best to answer remaining questions with full transparency.
This is just the beginning of an exciting new phase. Dozens of ecosystem projects have pledged their token allocations to the community, and nearly 50% of the total token supply remains reserved for the community at large. Claims open on June 17th.
The Internet doesn't run on a single server. It's a global system with infrastructure owned and operated by people you've never heard of. While there are many opportunities for interference, encryption helps protect the Internet from most malicious actors.
Likewise, Web3 will not run on a single chain. Currently, blockchains are evolving into a more complex network - L2, hyperchains, DAs, bridges, etc. Each new component creates opportunities for censorship. As Web3 becomes mainstream, ZK proofs retain the trustless nature.
With Web2, communication protocols like TLS and SSL can authenticate messages to prove that the communication has not been tampered with. HTTP → HTTP S But blockchain is more than just communication.
They are also transacting. The blockchain takes an input state, performs some computation, and produces an output state. As the multi-chain future goes parabolic, we need to prove that this computation has not been tampered with at any time.
Similar to how TLS/SSL provides us with communication integrity, ZK proofs provide us with computational integrity.
ZK enables us to prove and verify cross-chain computations through recursion. Transaction proofs are repeatedly combined until a complete proof for a block is obtained.
This block can then be recursively proved using blocks from other chains, all of which will recurse into a single proof.
This fast and cheap single proof can verify the computational integrity of every transaction settled on Ethereum. This cross-chain provable trust is how we verifiably scale Ethereum beyond just the base layer and a few slightly interoperable L2s.
ZK is the ultimate goal of Ethereum’s verifiable scaling TL;DR → Web2 does not run on a single server. Web3 will not run on a single chain either.
→ Complex systems introduce compound trust assumptions → Web2 uses TLS/SSL protocols as its cryptographic backbone to verify communications → Web3 will use ZK as its cryptographic backbone to verify computations → Recursive ZK proofs can verify computations across multiple chains, allowing users to transact on any chain without new trust assumptions → ZK Proofs @zkSync
How Ethereum can achieve verifiable scaling without sacrificing trustlessness.
zkSync isn’t just some fancy technology — it has truly superior on-chain performance and real use cases. Let me give you a few examples.
At the end of last year, L1/L2 projects experienced network outages due to the inscription incident. zkSync also suffered downtime, but transaction fees for other projects soared.
zkSync’s fees have dropped. A recent example of OP-Rollup limitations is Base Rollup, which experienced fee surges and internal gas limit issues after the Dencun hard fork. These issues show why people are talking more about “horizontal scalability,” which makes zkSync an important project to watch.
Additionally, zkSync has demonstrated significant competitiveness in terms of mass adoption.
- ENS Labs - Circle - Lens Protocol - http:// Crypto.com Many industry leaders have chosen zkSync as a partner. Although zkSync is a latecomer, I believe this trend will accelerate after the launch of the $ZK token.
I am bullish on $ZK for three reasons: - Two-thirds (~67%) of the ZK token supply will go to the community - $ZK is used as the native gas token - The airdrop allocation is designed to attract both short-term airdrop seekers and long-term investors.
For those with more “scale” (whales), $ZK could be an attractive new coin to bet on ahead of a bull cycle.
$ZK Trading Strategy: 1) Launch below $5bn FDV (around $0.24) - Undervalued 2) Launch between $5bn to $1bn FDV (between $0.3 and $0.48) - Bidding Zone 3) Launch above $25bn FDV (>$1.2) - Overvalued While market conditions should be considered - (a) better-than-expected CPI/PPI, (b) expected rate cuts this year, (c) ETH ETF S1 approval imminent, (d) upcoming U.S. presidential election - I believe that below $10bn FDV could be a good choice.
Vitalik Buterin mentioned that applications built today need to align with the vision of "Ethereum of the 2020s." — In my opinion, zkSync is the project that best fits this vision right now. zkSync has the potential to provide superior scalability, performance, and security, enhancing the overall user experience and setting it apart from other systems typically categorized as "L2."
