⚪zkSync

Revolutionizing Ethereum with Scalable Layer-2 Solutions

Introduction to zkSync

zkSync is a Layer-2 scaling solution for Ethereum, utilizing zero-knowledge rollup technology to offer enhanced speed, cost-efficiency, and security in transactions. Developed by Matter Labs, it aims to bridge the gap between ZK-based ecosystems and the Ethereum L1 network.

The Evolution of zkSync

zkSync, initially launched as zkSync 1.0 in June 2020, underwent significant developments, with zkSync 2.0 launching in late 2022. In February 2023, Matter Labs rebranded its products, introducing zkSync Era and zkSync Lite, focusing on creating an EVM-compatible ZK tech called zkEVM.

The Founders and Financial Backing

Alex Vlasov and Alex Gluchowski founded Matter Labs, the team behind zkSync. Since its prototype in 2019, zkSync has secured substantial funding, totaling $458 million, with a $200 million Series C round led by Blockchain Capital and Dragonfly Capital.

The Technology Behind zkSync

zkSync Era is based on ZK-rollup technology, bundling transactions into batches for Ethereum mainnet verification. It uses ZK-SNARK as a proof-generation method, optimizing efficiency, storage requirements, and developer familiarity.

zkEVM: Bridging the Compatibility Gap

zkEVM is a groundbreaking solution, allowing developers to write ZK-based smart contracts using Ethereum programming languages like Solidity and Vyper. It aims to remove friction between ZK-based ecosystems and the Ethereum L1 network, offering compatibility with Ethereum’s EVM and framework.

zkSync’s Unique Features

zkSync Era introduces native account abstraction, upgrading externally owned accounts to smart contract accounts, unlocking possibilities like batching multiple operations together and automating payments. It combines the privacy and speed of ZK-rollup with Ethereum-level security and EVM compatibility.

zkSync and Vitalik’s zkEVM Compatibility Types

zkSync Era falls into Vitalik Buterin’s Type 4 zkEVM compatibility, striving for optimal performance with some sacrifices in EVM-equivalence. It uses an LLVM compiler for EVM languages, allowing developers familiar with Ethereum native language to write for zkSync with some code rewriting.

Conclusion

zkSync is a revolutionary scaling solution, offering a blend of speed, security, and compatibility, paving the way for the future of Ethereum scaling and ZK-based smart contract development. Its advancements in zkEVM technology and unique features position it as a promising contender in the Layer-2 scaling solution sector.

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