What is zkSync
What is zkSync
As the popularity of applications like DeFi and NFT continues to grow, Ethereum faces scalability challenges that often result in high transaction fees and network congestion. Various Layer 2 solutions have emerged to address these issues, including zkSync.
zkSync is a Layer 2 scaling solution designed to offer cheaper and faster transactions than the main Ethereum blockchain (Layer 1). By moving most activity away from Layer 1, it inherits Ethereum's security and finality while reducing network congestion and transfer fees.
zkSync is built on zero-knowledge (ZK) rollup architecture.
The zkSync project started in the summer of 2020, although its creator, Matter Labs, has been working on Layer 2 scaling and zero-knowledge proofs since at least 2019.
Matter Labs, headquartered in Berlin, comprises a mostly-European team that maintains a low profile. The company's vision is to create the first EVM-compatible zero-knowledge rollup supporting general-purpose applications in Solidity without costly gas fees and performance barriers.
Matter Labs has raised over $400 million from investors, including Blockchain Capital, Dragonfly Capital, and a16z.
zkSync vs. Competitors
In general, zk-rollups offer higher on-chain processing speeds, more security, and better scalability than optimistic rollups but require more computing power. Zk-rollups also fall behind in EVM compatibility.
Starkware is another zk-proof solution. It is more scalable in computational speed and size than zkSync in theory, but its technology is less mature. Plus, zkSync is EVM-compatible, while Starkware is not.
For a more detailed analysis on the pros and cons of Optimistic rollups vs. ZK rollups and zkSync vs. Starkware, you may check out our research article: "zkSync vs StarkWare - What's the difference between the top two ZK Rollups?"
As Ethereum continues to grow and evolve, Layer 2 solutions like zkSync are crucial in addressing scalability challenges and making the platform more accessible for mainstream adoption. As the zkSync Era unfolds and new developments emerge, it will be essential to stay informed about this innovative scaling solution and its role in shaping the future of blockchain technology.
Zero Knowledge Proofs
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