zkSync was developed by a company called Matters Labs, founded by Alex Gluchowski in 2018. Gluchowski, who is still the CEO of the company, previously served as CTO at PaulCamper
zkSync (ZK) is an Ethereum Layer-2 scalability protocol. Standing out with its innovative structure, this protocol uses zero-knowledge (zero-knowledge) technology. zkSync promises a more scalable and efficient Ethereum blockchain experience thanks to zk-rollups.
By combining multiple transactions into a single cryptographic proof and processing them off-chain, zkSync significantly increases Ethereum’s transaction throughput. This notably helps alleviate network congestion and reduces ETH gas fees, allowing users to experience more cost-effective interactions with Ethereum smart contracts and sending tokens.
While zkSync moves transactions off-chain to increase scalability, it also ties transaction finality to the Ethereum mainnet, thus benefiting from Ethereum’s high security.
zkSync stands out with its various use cases. First of all, it offers an ideal platform for decentralized finance (DeFi) applications thanks to its high transaction volume and low transaction costs. DApps running on zkSync can provide faster and more cost-effective transactions to their users, which encourages users to make more transactions. In addition, the native account abstraction features offered by zkSync allow users to pay gas fees with any token, further improving the user experience.
In addition, zkSync also offers significant advantages in terms of security. The zkSync protocol adopts Ethereum’s security model and additionally implements its own security layers. The protocol has undergone extensive audits and stress tests over a one-year testnet period. In this way, zkSync offers its users a safe and secure transaction environment.
With all this structure, zkSync manages to provide high scalability without compromising security and decentralization. This makes it a very useful project for the Web3 ecosystem, where scalability, decentralization and security are very important.
ZK Coin is at the core of the zkSync ecosystem and serves multiple important roles. First, ZK Coin is used to pay transaction fees on the zkSync network. This allows users to transact at lower costs and increases zkSync adoption. Additionally, ZK Coin plays a critical role within zkSync’s governance model. Token holders can vote on important decisions that affect the future of the protocol, thus contributing to the development of the ecosystem.
Market Value 472.7 M usd
Circulating Supply 3.68 N ZK
MAXIMUM ARZ 21 B ZK
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