zkSync is a second-layer scaling solution that maintains the security of the underlying blockchain by adopting the latest generation of concise zero-knowledge proof technology. In zkSync, all funds are hosted by smart contracts on the main chain, while computation and storage are performed off-chain. Each Rollup block generates a zero-knowledge proof (SNARK) of state transitions and is verified by the main chain contract. This SNARK contains proof of validity for each transaction in the Rollup block. According to statistics from the zkSync official website, nearly 300 DApps have been connected to the zkSync Era ecosystem. Although it includes well-known projects such as Uniswap, 1inch, and LayerZero, in fact, the only projects that are actually online are those marked as "Live on Era", a total of only 58. Moreover, it is difficult to see well-known DApps from the list of online projects.
There are few high TVL ecological projects and they are of a single type. On-chain profits rely on Gas income but have shrunk significantly
To date, according to L2 BEAT data, as of May 6, the total locked volume of zkSync Era was nearly US$850 million, an increase of about 44.1% from the beginning of the year, ranking eighth among L2 projects.
Therefore, judging from the market value performance of other Ethereum Layer 2, ZK is currently seriously underestimated. As the former king project in Layer 2, ZKsync has finally arrived, which also means that the four former king projects of Layer 2 have begun to compete on the same stage.
As the latest project to issue tokens among the four major Layer2 projects, ZKsync is highly anticipated. However, current community feedback shows that many people are not satisfied with its performance. Some participants said that the success rate in the "money-pulling" operation was not high, after all, less than 700,000 addresses out of millions participated. The hit rate of individual addresses was about 15%, and most of them could only obtain a small amount of tokens. Coupled with the low ZK price, it did not seem very meaningful.
In addition, despite the large number of cross-chain assets, the total locked value (TVL) of ZKsync is still relatively low. Compared with other Layer2 projects, the ecological construction of ZKsync is obviously lagging behind. At the same time, GemSwap, a decentralized trading platform on ZKsync, ran away with the funds before issuing the token, casting a shadow on the ZKsync ecosystem.
In the future, the development trend of the ZK series projects still needs further observation.
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