Layer 2 solutions have emerged as a response to the scalability limitations of blockchain networks, particularly the Ethereum network. Layer 2 refers to a secondary framework built on the main blockchain that addresses scalability issues by processing transactions off-chain while maintaining the underlying blockchain's security and decentralization benefits.
While layer 2 solutions come in various forms, they generally involve aggregating multiple transactions into a single transaction on the main blockchain. This helps reduce the overall load on the main chain and increases transaction throughput, resulting in faster and cheaper transactions.
One unique layer 2 solution is zkSync, which uses zero-knowledge proofs (zk-proofs) for enhanced scalability and privacy. zkSync allows for secure, trustless, and low-cost transactions by bundling multiple transactions and submitting them as proof on the Ethereum blockchain.
By leveraging zk-proofs, zkSync validates all transactions and keeps information private, while also significantly reducing the computational requirements and costs associated with on-chain transactions.
In February 2023, Matter Labs, the brains behind zkSync, rebranded, renaming zkSync 2.0 to zkSync Era and zkSync 1.0 to zkSync Lite. This strategic move aimed to more closely align their products. On the same day, zkSync announced the start of onboarding for registered projects onto the zkSync Era mainnet. The onboarding set the stage for the full mainnet launch. As expected, zkSync Era became available to all users on March 24, 2023, marking the first of many impactful launches related to zkEVM.
OKX Wallet recently launched Cryptopedia, a unique Web3 project experience and learn-to-earn platform. We're working with several projects and partners to create learning quest sections that educate the community and give you the chance to earn exciting rewards.
Our first themed event is based around zkSync Era. After you complete the quests around the zkSync Era, you can participate in an NFT lottery for every completed DApp interaction quest. Take your best shot, and have fun!
At its core, zkSync is a ZK rollup. What does that mean exactly? ZkSync is a trustless protocol that leverages cryptographic validity proofs to provide fast and cost-effective transactions on Ethereum. By moving most of the computation and data off-chain, zkSync achieves scalability without compromising security.
One of the most exciting aspects of zkSync is that it provides the same security level as Ethereum. How? All transactions on zkSync are proven on the Ethereum mainchain, meaning you can trust the system just as you'd trust Ethereum.
But zkSync isn't just about security and scalability. It's also designed to provide a familiar and seamless experience. With zkSync Era, the user interface is designed to resemble Ethereum, so you'll feel right at home.
Plus, you can write and interact with smart contracts using Solidity or Vyper, just like you would on Ethereum. The best part? With zkSync Era, you can use the same clients compatible with other Ethereum Virtual Machine (EVM) chains, making it even more accessible.
Other highlights of zkSync Era include:
Unparalleled security:
Experience the same level of security as the Ethereum mainnet without depending on any third parties. Rest assured that your transactions and assets are safeguarded with utmost trust and reliability.
Empowering smart contracts:
Enjoy the freedom of permissionless EVM-compatible smart contracts on zkSync Era. Unleash your creativity and bring innovative ideas to life on this powerful platform.
Seamless integration:
Connect effortlessly to the broader blockchain ecosystem with zkSync Era's standard Web3 API. Interact with zkSync using the familiar tools and libraries you already know, simplifying integration.
Preserving Ethereum's essence:
Embrace zkSync Era while retaining the key features that made Ethereum successful. Smart contract composability remains intact, allowing you to combine and integrate contracts seamlessly.
Account abstraction:
zkSync Era's groundbreaking account abstraction feature represents a major advancement in decentralized finance. The innovation opens up new possibilities, allowing you to manage and use your funds uniquely.