ZkSync (ZK)

zkSync is a trustless protocol for scalable low-cost payments on Ethereum, powered by zkRollup technology. It uses zero-knowledge proofs and on-chain data availability to keep users’ funds as safe as though they never left the mainnet.

Seed Round: $2 Million

Series A funding Round: $6 Million

Series B funding Round: $50 Million

Series C funding Round: $200 Million

Check your eligibility for the ZKSync airdrop now at https://claim.zknation.io/

Whitepaper

Important By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice.

Interest lvl

Highest

Updated: Jun 11, 2024

Learn more about our rating

User Rating

Highest

5/5 • 2 votes

Claim your project

Ticker

ZK

Type

Utility-token

FoundedUnited States

Registration countryGibraltar

Registration year2018

Ecosystems

Ethereum zkSync

What is ZkSync

Matter Labs develops scaling Ethereum a decentralized application intended to remove interaction obstacles between untrusted parties. It develops zkSync which makes crypto payments cheaper and can be used to scale arbitrary smart contracts. The company was founded in 2019 and is based in Berlin, Germany.

zkSync is a ZK rollup, a trustless protocol that uses cryptographic validity proofs to provide scalable and low-cost transactions on Ethereum. In zkSync, computation is performed off-chain and most data is stored off-chain as well. As all transactions are proven on the Ethereum mainchain, users enjoy the same security level as in Ethereum.

zkSync is made to look and feel like Ethereum, but with lower fees. Just like on Ethereum, smart contracts are written in Solidity/Vyper and can be called using the same clients as the other EVM-compatible chains.

zkSync stands out remarkably in security and usability among existing L2 scaling solutions. Thanks to the combination of cutting-edge cryptography and on-chain data availability, ZK rollups (the core network of zkSync) are the only L2 scaling solution that doesn't require any operational activity to keep the funds safe. For example, users can go offline and still be able to withdraw their assets safely when they come back, even if the ZK rollup validators are no longer around.

zkSync features

• Mainnet-level security with zero reliance on 3rd parties
• ETH and ERC20 token transfers with instant confirmations and 10-minute finality on L1*; see supported tokens
• Ultra-low transaction fees (~1/100th of mainnet costs for ERC20 tokens and ~1/30th for ETH transfers)
• No registration is required to receive funds
• Payments to existing Ethereum addresses (including smart-contracts)
• Fees conveniently payable in the token being transferred
• Withdrawals to mainnet in ~10 minutes
• Multisig (opens new window)support
• Permissionless smart contracts