What Happened on Mar. 27th | What is zkSync Era? When token?

zkSync is a layer-two (L2) scaling solution developed by Matter Labs, zkSync 1.0 was released to the public in June 2020, however the 1.0 version doesn't support EVM. In October 2022, Matter Labs released the alpha version of zkSync 2.0, a ZK rollup compatible with the Ethereum Virtual Machine. Then in February 2023, Matter Labs renamed zkSync 2.0 to “zkSync Era,” rebranding zkSync 1.0 to “zkSync Lite”.

zkSync Era is a zkEVM so it’s designed to offer EVM compatiable smart contracts for developers and users but with the additional benefits of instant transaction confirmations and extremely-low transaction fees.

Although zkSync has mentioned tokenomics and there will be a token, there is no exact timeline of when the token will be launched. Matter Labs CEO Alex Gluchowski said "there are no plans to launch a token for now."

"The team is focused on further development of the protocol, and a token only comes into play with decentralizing the network, and that is still far on the horizon."

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