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zkSync

zkSync

ZK
#199
$0.009984Down 3.46 percent($0.00)

Key Stats

Market Cap$103.55MDown 3.46 percent
Volume (24h)$11.53M
Fully Diluted Value$209.68M
Vol/Mkt Cap (24h)11.13%
Total Supply14.97B ZK
Max Supply21.00B ZK
Circulating Supply10.37B ZK
Launch Date2024-05-21

zkSync Information

Websites
zksync.io
Block Explorers
explorer.zksync.io
Supported Standards
ERC-20
Industries
Governance

zkSync Price Converter

zkSyncZK
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Latest zkSync News

View all
Midnight token rebounds 19% after Wanchain bridge hack, Hoskinson calls for ZK revamp
Neutral

Midnight token rebounds 19% after Wanchain bridge hack, Hoskinson calls for ZK revamp

Neutral

The Protocol: Bitcoin proposal that could freeze quantum-related coins

Positive

BitGo teams with ZKsync to build tokenized deposit infrastructure to bring banks onchain

Positive

U.S. regional banks building tokenized deposit network on ZKsync to rival stablecoins

zkSync Markets

View all
InstrumentExchangeBenchmark DataPrice24h Change
zkSyncUSDT logo
ZK-USDT
ZKUSDT
binance logobinance
AA
0.009970USDT
-3.48%
zkSyncUSDT logo
ZK-USDT
ZK-USDT
okex logookex
A
0.009972USDT
-3.43%
zkSyncTRY logo
ZK-TRY
ZKTRY
binance logobinance
AA
0.4830TRY
-3.40%
zkSyncUSDT logo
ZK-USDT
ZKUSDT
bybit logobybit
A
0.009982USDT
-3.33%
zkSyncUSDT logo
ZK-USDT
ZK_USDT
whitebit logowhitebit
BB
0.009980USDT
-3.48%

About zkSync

zkSync (ZK) is a layer 2 Ethereum scaling solution developed by Matter Labs, utilising zero-knowledge rollups to enhance transaction throughput and reduce costs while maintaining security and decentralisation. It supports various applications, including DeFi, NFT marketplaces, payments, and token transfers, making it a versatile tool for the Ethereum ecosystem.

Frequently Asked Questions

zkSync (ZK) is a layer 2 scaling solution for Ethereum designed by Matter Labs. It leverages zero-knowledge rollups (zk-rollups) to enhance transaction throughput and reduce costs while maintaining security and decentralisation. By aggregating multiple transactions into a single proof, zkSync significantly decreases the data load on the Ethereum mainnet, resulting in lower transaction fees and faster processing times. zkSync aims to provide a scalable, efficient, and user-friendly platform for Ethereum users and developers.

zkSync (ZK) is used for various purposes within the Ethereum ecosystem, including:

  1. Transaction Scaling: By batching transactions into a single proof, zkSync enables higher transaction throughput and lower fees compared to the Ethereum mainnet.
  2. Decentralised Finance (DeFi): It supports DeFi applications, facilitating activities like trading, lending, and borrowing with improved efficiency and reduced costs.
  3. NFT Marketplaces: zkSync's low fees and fast transactions make it suitable for NFT minting, buying, and selling, enhancing the user experience.
  4. Payments: The platform supports cost-effective micropayments, making it ideal for applications requiring frequent small transactions, such as subscriptions and in-app purchases.
  5. Token Transfers: zkSync allows for quick and inexpensive ERC-20 token transfers, benefiting overall network usability.

zkSync was developed by Matter Labs, a company focused on solving Ethereum’s scalability issues through advanced cryptographic techniques. The key members of the Matter Labs team include:

  • Alex Gluchowski: Co-Founder and CEO
  • Zoé Gadsden: Chief Operating Officer (COO)
  • Anthony Rose: Chief Technology Officer (CTO)
  • Geoffrey Thompson: General Counsel

zkSync employs a zk-rollup mechanism to achieve scalability. The process includes:

  1. Batching Transactions: Multiple transactions are grouped into a batch off-chain.
  2. Generating Proofs: A cryptographic proof, known as a zk-SNARK, is generated for the batch, certifying the validity of all transactions within it.
  3. On-Chain Verification: This proof is then submitted to the Ethereum mainnet, where it is verified, ensuring all transactions are correct.
  4. State Updates: Upon verification, the Ethereum mainnet updates its state to reflect the batched transactions.

This method significantly reduces the data that needs to be processed on-chain, thus lowering fees and increasing throughput.

zkSync maintains high security and decentralisation standards by adhering to Ethereum’s security model. The use of zk-rollups ensures that transactions are cryptographically verified before being included on-chain, eliminating the need for trusted intermediaries. This approach preserves Ethereum's security guarantees while enabling higher transaction capacity and lower costs.