$ZK sync Era is an Ethereum layer-2 (L2) rollup that leverages zero-knowledge ($ZK ) proof technology to enhance transaction efficiency on the blockchain. By executing transactions off-chain and subsequently batching them into groups, $ZK sync Era generates a cryptographic proof of validity for each batch. This proof is then submitted to the Ethereum base chain.
ZK rollups, such as ZKsync Era, differ from optimistic rollups like Arbitrum, Base, and Optimism. While optimistic rollups operate on the assumption that all L2 transactions are valid unless contested, allowing anyone to challenge a transaction within a specified dispute period, ZK rollups produce cryptographic proofs to verify the validity of transactions. This ensures that the validity proof, created through a zero-knowledge proof system, confirms the integrity of the data before submission to the L1 chain.
One notable advantage of ZK rollups is the instant transaction finality they offer, eliminating the need for the seven-day waiting period required to withdraw tokens in optimistic rollups. Despite being more expensive than optimistic rollup transactions, this instant finality makes ZK rollups highly attractive for certain applications.
Matter Labs, the corporate entity behind ZKsync Era, announced in February 2023 that the rollup is free and open source. As of June 19, 2024, ZKsync Era's total value locked (TVL) stood at over $138 million, positioning it behind other prominent Ethereum rollups such as Arbitrum ($2.97 billion), Blast ($2.09 billion), and Base ($1.62 billion), according to DefiLlama data.
ZKsync Era is the inaugural chain in the ZKsync ecosystem, with plans for more ZK rollups to be deployed using the ZK Stack, broadening the scope and potential of ZK technology in the blockchain space.
