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Key Points
ZKsync is a Layer-2 scaling solution that makes transactions on Ethereum faster and cheaper using zero-knowledge rollups (zk-rollups) and zero-knowledge proofs (ZKPs).
The ZKsync airdrop distributed 17.5% of the total supply to users and contributors, with a focus on active network participants and contributors to the ZKsync ecosystem.
Compared to optimistic rollups, ZKsync offers more security and faster settlement times thanks to the use of ZKPs.
Introduction
Scalability is one of the main challenges of blockchain technology. In the context of blockchains, it refers to the ability of networks to process an increasing number of simultaneous transactions. The main problem is that as more transactions are added to the pending transaction queue, networks generally become slower and more expensive.
Zero-knowledge solutions offer a promising way to address scalability issues. In this article, we will explore the ZKsync scaling solution, how it works, its differences from optimistic rollups, and some of its benefits. We will also discuss the use and distribution of the ZK token through airdrops.
What is ZKsync?
ZKsync is a Layer-2 scaling solution designed to make transactions on Ethereum faster and cheaper by processing them off-chain Ethereum main. This is possible through so-called zero-knowledge rollups (zk-rollups). Zk-rollups are solutions that group multiple transactions and process them outside the blockchain (off-chain).
We can think of layer-2 solutions as an extra lane added to a congested highway. By providing more space for (transaction) cars to move, it reduces congestion on the main highway (Ethereum). This extra track represents the off-chain transaction processing that ZKsync performs with zk-rollups.
How does ZKsync work?
1. Transaction grouping
It all starts with using zk-rollups to collect and batch transactions off-chain. ZKsync avoids processing them individually to reduce the load on the main Ethereum blockchain.
For example, imagine a post office where, instead of sending each piece of mail separately to a specific address, it is collected and grouped first and then delivered all at once, making the process much more efficient.
2. Uso de zero-knowledge proofs
ZKsync then creates zero-knowledge proofs (ZKPs) to verify the batches. ZKPs (zero knowledge proofs) ensure that transactions within batches are valid while keeping their details private.
You can think of ZKPs as a method of proving that you know a secret password without having to share it. For example, if Alice wants to prove that she knows the password to a secret club, she can answer specific questions that only someone with the password would know, without ever revealing the password itself.
3. Submitting proofs to Ethereum
The proofs (ZKPs) are then sent to the Ethereum mainnet (mainnet, where they are carefully verified. Once verified and validated, they are accepted by the Ethereum network, meaning transactions are officially recorded and confirmed on the blockchain.
Token ZK
ZK tokens allow users to participate in ZKsync's governance system by offering voting power. Voting power can be activated through the delegation process. Let's see how this works:
To activate the voting power of your ZK tokens, you must delegate the token to a ZKsync address. The address can be yours or someone else's.
The person who controls this address becomes a "Delegate" who can vote on governance proposals.
Delegation does not change ownership of the token, but rather activates voting power for the chosen address.
The delegation can be changed at any time by the token holder and remains valid until modified or the tokens are transferred.
Delegation cannot be split between multiple addresses. All voting power held in a wallet is delegated to a single address.
The ZK token was listed on Binance with the seed tag on June 17, 2024. Please see the official listing announcement for more details.
Airdrop do ZKsync
The ZK token airdrop distributed 17.5% of the total supply to eligible wallets. The allocation was divided between users and collaborators.
Usage-Based Airdrops
To be eligible for the airdrop as a user, you needed to transfer your funds to ZKsync Era and meet at least one of the following seven criteria:
Interact in ZKsync with at least 10 non-token smart contracts.
Use Paymasters for at least 5 transactions on ZKsync Era. Paymasters are special accounts designed to cover the transaction costs of other accounts, potentially making certain transactions free for end users.
Trade at least 10 different ERC-20 tokens on ZKsync Era decentralized exchanges (DEXs).
Provide any amount of liquidity to the monitored DEXs and lending protocols on ZKsync Era.
Own at least one non-fungible token (NFT) Libertas Omnibus at the time of the snapshot.Â
Be active for more than 3 months on ZKsync Lite before ZKsync Era mainnet launch.
Donate to Gitcoin through rounds hosted on ZKsync Lite.
ZKsync Airdrop Allocations
According to ZKsync, allocations were based on a value scaling formula that consisted of multiple steps:
1. The first step was to determine the daily balance of cryptoassets held by the address. This included both wallet balance and cryptocurrencies sent to decentralized finance (DeFi) protocols. Â
2. Then, cryptoassets in DeFi protocols were valued at a doubled nominal value (2x). For example, if you had $100 worth of cryptocurrencies in a DeFi protocol, the formula would consider it $200.
3. Finally, daily balances were summed and divided by the snapshot period (366 days) to calculate time-weighted average balances.
For example, imagine that Alice sent $200 worth of crypto assets to ZKsync Era 30 days before the snapshot and immediately allocated 1/4 of it ($50) to a DeFi protocol. The other US$150 was kept in your wallet until the moment of the snapshot. Now, let's calculate your time-weighted average balance (TWAB):
TWAB = ( ($150 * 30 days) + ($50 * 2 * 30 days) ) / 366 days = $20.50
Each address could receive additional multipliers based on specific activities that indicated genuine user behavior or their contribution to ZKsync. These multipliers have been added to allocations. Here are some activities that could add multipliers:
1. Own at least one of the following ZKsync native NFT collections at the time of the snapshot: Dudiez, Hue, Moody Mights, Webears, ZKPENGZ, zkSkulls, or zkVeggies.   Â
2. Maintain at least 50% of the ARB/OP/ENS airdrop for more than 90 days after redemption.
Contribution-Based AirdropsÂ
The ZK token airdrop also included specific allocations for various contributors to the ZKsync ecosystem. Letâs look at the details of contribution-based airdrops:
1. ZKsync Native Projects: 215,250,000 ZK tokens were allocated directly to contributors and treasuries of native projects built on ZKsync Era, including DeFi protocols, games, ZK chains, NFT collections, infrastructure, among others.
2. Developers: 86,895,375 tokens were allocated to individuals, developers, researchers, communities and companies who contributed to the ZKsync ecosystem through development, advocacy or education.
GitHub Developers: Developers with at least 25 commits to eligible repositories before March 24, 2024.
Protocol Guild: Ethereum researchers and developers.
ZK Quest Participants: Participants in ZK Quest developer activities at Istanbul Devconnect 2023 and/or ETH Denver 2024.
And many others.
3. On-chain communities. 102,375,000 tokens were allocated to a small group of experimental on-chain communities to explore ways to use tokens and NFTs, such as:
Season 1 DEGEN token airdrop recipients.
Season 1 BONSAI token airdrop recipients.
Participants of Crypto The Game (CTG) seasons 1 and 2 and members of the CTG team.
Holders de Pudgy Penguin e Milady Maker.  Â
How to redeem ZKsync airdrop?
Be careful with fake websites and phishing attacks. Make sure to use official websites and channels.Â
Follow these steps to verify your eligibility and redeem your ZK tokens:
1. Go to the official airdrop website and check if you are eligible for the airdrop. Enter your wallet address or GitHub username and select [Check] to verify.
2. Click [Connect wallet] and follow the instructions to connect your crypto wallet.
3. Next, you will have to delegate the voting power of your ZK tokens. You can delegate yourself or any member of the community.
4. Finally, select [Claim your tokens] and follow the instructions to claim your tokens. If an error occurs, click [Claim your tokens] again.
How to redeem ZKsync airdrop on Binance?
To redeem ZK tokens from Binance, eligible users need to deposit a minimum of 0.02 ETH from a whitelisted address on the ZKsync Era network to their Binance account. Only deposits made directly from whitelisted addresses of active ZKsync users will be considered valid for this distribution.
Lots of whitelisted addresses:
ZK tokens will be distributed on a first-come, first-served basis to users who meet the criteria. Each user can only redeem ZK tokens once (i.e., one redemption per Binance User ID (UID), with a limit of 200 ZK tokens per user. Even if a user deposits 0.02 ETH from multiple addresses to a single Binance UID, he will only be able to redeem the airdrop once, totaling 200 ZK tokens.
The first ZK token airdrop on Binance is scheduled to begin on June 25, 2024. Please refer to the official announcement for more details on the ZK Token Distribution Program on Binance .
Sybil attacks and community criticism
The ZKsync airdrop has sparked controversy in the cryptocurrency community, raising concerns about its execution and fairness.
The ZKsync airdrop has been criticized for the lack of effective measures against Sybil attacks. Many users argued that it was easy to exploit the eligibility criteria, allowing the creation of multiple wallets to game the system and obtain more tokens.
In response, the ZKsync developers explained that they deliberately chose not to use too strict Sybil detection to avoid accidentally deleting many honest users. Instead, they adopted value scaling and multipliers to identify potential Sybil attacks while prioritizing genuine users.
Some argue that ZK tokens were not distributed fairly. Critics point out that the maximum limit of 100,000 ZK tokens per address was too low, as it unfairly reduced rewards for users who were deeply involved in the ZKsync ecosystem. Some users claimed they received nothing despite meeting the eligibility criteria and using ZKsync products for years.
To address these concerns, ZKsync has clarified its distribution strategy, emphasizing its focus on rewarding active participants. The team highlighted that 89% of the distributed tokens were given to users who actively participated in ZKsync Era.
ZKsync vs. Optimistic Rollups
Security mechanism
Optimistic rollups assume that all transactions are valid. They use a method where nodes are paid to verify transactions after they are processed. If problems are found, they are reported and transactions are corrected. The problem with this approach is its dependence on the action of humans, who can easily make mistakes.
On the other hand, ZKsync uses ZKPs to ensure transaction security. This approach can offer a relatively higher level of accuracy compared to optimistic rollups.
Settlement time
Optimistic rollups have a so-called 7-day challenge period. This is necessary because optimistic rollups initially assume that all transactions are valid and only correct them if someone challenges their validity. Transactions are not finalized until this period ends, which results in slower settlement times.
ZKsync uses ZKPs to verify transactions. Transactions are finalized as soon as they are verified by nodes. This approach eliminates the need for a challenge period, reducing settlement times.
Benefits of ZKsync
Scalability
ZKsync increases the scalability of the Ethereum network by using zk-rollups to process transactions outside of the main Ethereum blockchain. This reduces fees and speeds up transaction times. As a result, ZKsync enables Ethereum to support more users and decentralized applications (DApps).
EVM compatibility
EVM compatibility means that developers who have already created DApps for the Ethereum Virtual Machine (EVM) can migrate them to ZKsync with few changes. This reduces the learning curve and makes it easier to adopt ZKsync's scaling solutions.Â
Final considerations
By utilizing zero-knowledge rollups (zk-rollups) and zero-knowledge proofs (ZKPs), ZKsync is a Layer-2 scalability solution that can increase transaction speeds and reduce costs on the Ethereum network. Compared to optimistic rollups, ZKsync offers greater security and faster settlement times. Additionally, its EVM compatibility allows developers to learn and adopt its scaling solutions more easily.
Further reading
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