Question 1

What is zkSync (ZK)?

Accepted Answer

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.

Question 2

What is zkSync (ZK) used for?

Accepted Answer

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.

Question 3

Who created zkSync (ZK)?

Accepted Answer

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

Question 4

How does zkSync (ZK) work?

Accepted Answer

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.

Question 5

Security and Decentralisation

Accepted Answer

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.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	ZK-USDT ZKUSDT	binance	AA	0.01218USDT	-4.47%	88,939,922.10ZK	20,377	0.01275USDT	0.01299USDT
2	ZK-TRY ZKTRY	binance	AA	0.6050TRY	-4.27%	78,568,628.30ZK	2,069	0.6320TRY	0.6450TRY
3	ZK-USDT ZKUSDT	bybit	A	0.01217USDT	-4.43%	48,910,182.73ZK	18,184	0.01274USDT	0.01298USDT
4	ZK-USDT ZK-USDT	okex	A	0.01219USDT	-4.35%	29,798,212.95ZK	8,645	0.01274USDT	0.01297USDT
5	ZK-USDT ZK_USDT	whitebit	BB	0.01218USDT	-4.40%	21,245,232.00ZK	9,482	0.01274USDT	0.01297USDT
6	ZK-USD ZK-USD	coinbase	AA	0.01217USD	-4.44%	18,136,415.70ZK	3,522	0.01274USD	0.01295USD
7	ZK-USDC ZKUSDC	binance	AA	0.01215USDC	-4.63%	11,087,738.60ZK	6,091	0.01274USDC	0.01296USDC
8	ZK-USDT ZK_USDT	gateio	A	0.01217USDT	-4.61%	10,494,564.00ZK	3,735	0.01276USDT	0.01296USDT
9	ZK-USD ZKUSD	kraken	AA	0.01212USD	-5.09%	9,555,407.06ZK	445	0.01277USD	0.01293USD
10	ZK-TRY ZK_TRY	whitebit	BB	0.6060TRY	-4.72%	7,701,812.20ZK	1,182	0.6360TRY	0.6470TRY
11	ZK-EUR ZK_EUR	whitebit	BB	0.01083EUR	-4.67%	5,738,946.80ZK	1,367	0.01136EUR	0.01160EUR
12	ZK-USDC ZKUSDC	bybit	A	0.01214USDC	-4.65%	4,421,839.44ZK	1,613	0.01274USDC	0.01295USDC
13	ZK-USDT ZK-USDT	kucoin	BB	0.01213USDT	-5.01%	3,015,374.10ZK	581	0.01277USDT	0.01297USDT
14	ZK-USDT ZKSYNCUSDT_SPBL	bitget	BB	0.01215USDT	-4.86%	2,872,792.50ZK	692	0.01277USDT	0.01294USDT
15	ZK-EUR ZKEUR	kraken	AA	0.01081EUR	-4.34%	1,939,109.19ZK	55	0.01130EUR	0.01154EUR
16	ZK-BTC ZK_BTC	whitebit	BB	0.0₆1502BTC	-4.76%	750,499.00ZK	216	0.0₆1577BTC	0.0₆1600BTC
17	ZK-USDC ZK-USDC	okex	A	0.01228USDC	-3.64%	131,552.57ZK	30	0.01275USDC	0.01291USDC
18	ZK-USD ZK_USD	cryptodotcom	AA	0.01217USD	-4.93%	52,170.00ZK	42	0.01280USD	0.01293USD
19	ZK-USD zkusd	bitstamp	AA	0.01280USD	0.00%	0ZK	0	0.01280USD	0.01280USD
20	ZK-TRY ZK-TRY	okex	A	0.6362TRY	2.75%	16,523.76ZK	10	0.6192TRY	0.6362TRY
21	ZK-EUR ZK-EUR	okex	A	0.01088EUR	-1.50%	4,819.64ZK	2	0.01105EUR	0.01105EUR
22	ZK-USDT ZK_USDT	cryptodotcom	AA	0.01235USDT	0.00%	0ZK	0	0.01235USDT	0.01235USDT
23	ZK-KRW KRW-ZK	upbit	B	16.30KRW	-4.12%	55,588,620.81ZK	1,340	17.00KRW	17.40KRW
24	ZK-USD ZK-USD	btse	-	0.01215USD	-4.48%	31,278,307.64ZK	41,391	0.01272USD	0.01299USD
25	ZK-USDT ZK_USDT	p2pb2b	D	0.01218USDT	-4.47%	31,189,112.00ZK	7,946	0.01275USDT	0.01288USDT
26	ZK-USDT sZKUSDT	phemex	C	0.01217USDT	-4.70%	27,187,593.75ZK	6,133	0.01277USDT	0.01302USDT
27	ZK-USDT ZKUSDT	bitrue	D	0.01220USDT	-4.39%	26,006,740.20ZK	37,294	0.01276USDT	0.01299USDT
28	ZK-USDT zk_usdt	lbank	C	0.01218USDT	-4.55%	21,485,897.20ZK	4,211	0.01276USDT	0.01298USDT
29	ZK-USDT zk_usdt	xtpub	-	0.01218USDT	-4.55%	17,483,403.80ZK	4,156	0.01276USDT	0.01297USDT
30	ZK-TRY ZKTRY	btcturk	E	0.6045TRY	-4.37%	14,073,742.30ZK	549	0.6321TRY	0.6445TRY
31	ZK-USDT ZK_USDT	coinw	-	0.01218USDT	-4.55%	12,683,538.46ZK	2,213	0.01276USDT	0.01296USDT
32	ZK-USDT ZK_USDT	bitunix	C	0.01218USDT	-4.47%	7,991,002.50ZK	7,486	0.01275USDT	0.01297USDT
33	ZK-USDT ZKUSDT	mexc	C	0.01217USDT	-4.56%	7,154,090.53ZK	3,125	0.01275USDT	0.01297USDT
34	ZK-USDT ZK-USDT	bingx	D	0.01218USDT	-4.47%	6,189,283.40ZK	8,914	0.01275USDT	0.01296USDT
35	ZK-USDC ZKUSDC	mexc	C	0.01215USDC	-4.55%	4,320,884.47ZK	2,957	0.01273USDC	0.01293USDC
36	ZK-USDT ZKUSDT	btcturk	E	0.01230USDT	-3.07%	4,122,560.00ZK	153	0.01269USDT	0.01308USDT
37	ZK-USDT zk_usdt	digifinex	D	0.01217USDT	-4.55%	4,132,059.20ZK	4,903	0.01275USDT	0.01297USDT
38	ZK-USDT ZK_USDT	bydfi	-	0.01210USDT	-5.47%	4,078,768.55ZK	2,958	0.01280USDT	0.01300USDT
39	ZK-KRW ZK_KRW	bithumbkorea	-	16.18KRW	-4.66%	3,354,270.93ZK	340	16.97KRW	17.25KRW
40	ZK-EUR ZKEUR	bit2me	B	0.01081EUR	-4.34%	1,939,109.19ZK	55	0.01130EUR	0.01154EUR
41	ZK-USDT zkusdt	huobipro	C	0.01150USDT	-7.26%	1,299,161.09ZK	386	0.01240USDT	0.01280USDT
42	ZK-EUR ZK-EUR	bitvavo	B	0.01084EUR	-4.58%	1,022,671.94ZK	74	0.01136EUR	0.01147EUR
43	ZK-THB THB_ZK	bitkub	C	0.4119THB	-3.33%	1,002,319.40ZK	31	0.4261THB	0.4349THB
44	ZK-USDT ZK-USDT	btse	-	0.01220USDT	-4.24%	256,220.39ZK	1,479	0.01274USDT	0.01293USDT
45	ZK-INR ZKINR	coindcx	-	1.22INR	-2.40%	47,663.54ZK	29	1.25INR	1.32INR
46	ZK-BTC BTC-ZK	upbit	B	0.0₆2000BTC	0.00%	0ZK	0	0.0₆2000BTC	0.0₆2000BTC
47	ZK-USDC ZK-USDC	btse	-	0.01217USDC	-4.40%	21,043.83ZK	806	0.01273USDC	0.01294USDC
48	ZK-KRW ZK_KRW	coinone	C	17.00KRW	-0.93%	19,402.32ZK	11	17.16KRW	17.26KRW
49	ZK-KRW zk_krw	korbit	C	16.59KRW	0.00%	10,000.00ZK	3	16.59KRW	16.59KRW
50	ZK-USDT USDT-ZK	upbit	B	0.01220USDT	0.00%	0ZK	0	0.01220USDT	0.01220USDT