ZKsync (ZK)
ZKsync is a trustless Layer 2 protocol designed to provide scalable and low-cost payments on the Ethereum blockchain, utilizing zero-knowledge rollup (zk Rollup) technology. Developed by Matter Labs, ZKsync focuses on enhancing user experience and transaction efficiency.
Overview
ZKsync offers a range of features and products aimed at improving Ethereum's scalability:
- ZKsync Era: A trustless protocol that employs cryptographic validity proofs to facilitate scalable and cost-effective transactions on Ethereum. It supports smart contracts compatible with the Ethereum Virtual Machine (EVM), offers instant transaction confirmations, and maintains low fees.
| Ticker | ZK |
| Category | Smart Contract Platform |
| Website | https://zksync.io/ |
| @zksync | |
| Contract Addresses | |
|---|---|
| zksync | 0x5a...3e Copied! |
History
Matter Labs, based in Germany, created zero-knowledge rollups in 2020 to enhance Ethereum's scalability. The project commenced in 2019, culminating in the release of ZKsync 1.0 in 2020.
ZKsync 1.0
ZKsync 1.0 debuted in 2020 as an Ethereum scaling technology capable of handling up to 3,000 transactions per second (TPS). The growing demand for higher throughput led to the development of ZKsync 2.0.
ZKsync 2.0
Matter Labs introduced a zkEVM testnet, making ZKsync the first zk-Rollup to execute Ethereum-native smart contracts. ZKsync 2.0, featuring the alpha version of its zkEVM infrastructure, marked a significant advancement over its predecessor. The introduction of zk-Porter, a sharding solution, aimed to further enhance Ethereum's transaction efficiency, potentially increasing throughput from 3,000 TPS to 20,000 TPS.
ZKsync 3.0 (Elastic Chain)
In June 2024, Matter Labs unveiled ZKsync 3.0, featuring an "Elastic Chain" aimed at creating a more interconnected ecosystem. This Elastic Chain, introduced with the v24 upgrade on June 7, 2024, transforms ZKsync from a single chain into a network of multiple chains, providing users with a seamless experience. The Elastic Chain comprises three core components: the "Native Token Vault" and "Shared Router," implemented as smart contracts on Ethereum to manage network state and chain registrations; the ZK Gateway, a middleware facilitating interoperability between Ethereum and ZKsync's chains; and a system ensuring efficient interaction among ZK chains while maintaining Ethereum's security.
Technology
Rollups in ZKsync
ZKsync employs zk-rollups to batch process Ethereum transactions, verified through zero-knowledge proofs. Instead of verifying each transaction individually, the Ethereum network only needs to validate the proof for an entire batch. This approach reduces computational demands. ZKsync uses zk-SNARK as its proof-generation method, allowing for efficient transaction batching and proof generation.
ZKsync token (ZK)
The ZKsync token (ZK) was officially launched on exchanges on June 17, 2024. The distribution program, running from June 17 to January 3, 2025, aims to allocate 3.675 billion ZK tokens to eligible users. As of June 17, 2024, 45% of the tokens had been claimed. The ZKsync Association, a non-profit organization established by Matter Labs, oversees the airdrop claims. The distribution plan allocates 89% of the airdrop to ZKsync users who meet certain activity thresholds, with the remaining tokens distributed to ecosystem contributors, ZKsync native projects, on-chain communities, and builders. Additionally, Matter Labs employees and investors will receive a portion of the tokens, with a vesting schedule for release. The remaining supply will support governance and ecosystem initiatives.