zkSync now on Uniblock: What is zkSync?

What is zkSync?

zkSync is a Layer 2 scaling solution developed for the Ethereum network, aiming to provide faster and more cost-effective transactions without compromising on security, thanks to zero-knowledge proofs (zk-proofs). It addresses Ethereum's scalability challenges by moving transactions off the congested main Ethereum chain (Layer 1) to a secondary layer, where processing is more efficient. Utilizing zkRollups technology, zkSync aggregates multiple transactions into a single one on the Ethereum mainnet, significantly reducing gas fees and enhancing throughput.

This is all apart of the broader “zkSync era”, focusing on crypto advancements and integrating with the Ethereum blockchain ecosystem. Unlike optimistic rollups, zkSync relies on validity proofs to verify the correctness of transactions instantly, offering a quicker and secure transaction environment for cryptocurrency activities.

zkSync's ecosystem supports staking, enabling network participants to contribute to security and consensus mechanisms. This ecosystem is also designed for issuing the zkSync token through mechanisms like airdrops, fostering participation in decentralized finance (DeFi) projects, NFT marketplaces, and various dApps seeking efficient blockchain interactions.

Developed under the leadership of Alex Gluchowski and utilizing technologies such as SNARKs and hyperchains, zkSync continuously evolves. With zkSync 1.0 as its foundation, it looks towards future developments and enhancements. The solution integrates with popular wallets like MetaMask, supports interoperability with major chains like Polygon, and envisions connectivity with other Layer 2 solutions such as Arbitrum, emphasizing its role in enhancing the blockchain ecosystem. zkSync aims to improve Ethereum's scalability, offering faster transactions, lower costs, and broader possibilities for crypto and DeFi applications while maintaining a secure and accessible blockchain platform.

What are the key features of zkSync blockchain technology?

Low Transaction Costs: By batching multiple transactions into one and settling them on the Ethereum mainnet, zkSync drastically reduces transaction costs.

High Throughput: zkSync can process thousands of transactions per second (TPS), a significant improvement over Ethereum's current capacity.

Security: Utilizes zero-knowledge proofs to ensure that the state transition on Layer 2 is correct without revealing any specific details of the transactions, maintaining Ethereum-level security.

User Experience: Offers a smooth user experience with fast transaction finality, making it appealing for both users and developers.

EVM Compatibility: zkSync aims to be fully compatible with Ethereum's existing smart contracts and tools, making it easy for developers to migrate their DApps to zkSync.

What network is zkSync on?

zkSync functions as a Layer 2 scaling solution built on top of the Ethereum network, crafted to augment Ethereum's capabilities without supplanting its foundational role. It leverages cutting-edge cryptographic techniques, specifically zero-knowledge rollups (zk-rollups), to execute transactions with greater speed and lower costs while maintaining the robust security guarantees of Ethereum. This innovative approach enables zkSync to process thousands of transactions per second (TPS), a significant leap over Ethereum's native capabilities.

As part of its integration with Ethereum, zkSync ensures compatibility with Ethereum's existing smart contracts and assets, facilitating a seamless transition for developers and users from the Ethereum mainnet to zkSync's Layer 2 environment. This interoperability is crucial for maintaining continuity within the Ethereum ecosystem, allowing DApps, DeFi platforms, and NFT projects to leverage zkSync's enhanced throughput and reduced transaction fees without departing from Ethereum's secure and decentralized framework.

Moreover, zkSync's operation on Ethereum's network underscores its commitment to contributing to the broader Ethereum scaling and development efforts. By utilizing Ethereum as its base layer, zkSync not only inherits Ethereum's security and decentralization principles but also aligns itself with Ethereum's long-term vision of a scalable, efficient, and user-friendly blockchain infrastructure. Through this symbiotic relationship, zkSync aims to address the pressing challenges of blockchain scalability, enabling Ethereum to handle increased demand and facilitate a wider range of applications and use cases, from micropayments to complex DeFi protocols, without compromising on security or decentralization.

Who uses zkSync?

zkSync is used across the Ethereum ecosystem by a broad spectrum of users, spearheaded by its development by Matter Labs. zkSync stands out with features like account abstraction, enabling a more user-friendly experience, and mechanisms like zkPorter, which further enhance its scalability. Its anticipation of zkSync 2.0 and unique aspects such as native tokens and tokenomics signal zkSync's commitment to advancing Ethereum's scalability and utility. Through its comprehensive approach encompassing Layer 2 solutions, zkSync aims to address the pressing needs of scalability, transaction speed, and costs within the Ethereum network, supported by its robust community, developers like Argent, and innovations like zkRollup technology and zkSync Lite. Its users range from the following:

• Developers: Attracted by zkSync's scalability and cost-efficiency, developers deploy decentralized applications (DApps) on this Layer 2 solution without sacrificing security. Utilizing Solidity, zkSync's compatibility with the Ethereum Virtual Machine (EVM) simplifies the transition of DApps and smart contracts onto a more scalable environment.
• Users: Individuals engage with zkSync for its swift and economical transactions, vital for trading, gaming, NFTs, and various blockchain engagements. zkSync offers off-chain computation and on-chain data availability, ensuring transactions are both swift and transparent.
• Enterprises: Organizations requiring high throughput and reduced transaction fees for their blockchain solutions find zkSync appealing. Its trustless environment, supported by zero-knowledge rollups (zk-rollups) and zkEVM technology, offers businesses a robust platform for building and scaling applications.
• DeFi Projects and Exchanges: DeFi protocols leverage zkSync to enhance their offerings, providing users with efficient services, including swaps and liquidity provision. Platforms like Curve have explored zkSync to improve scalability and reduce fees, while exchanges such as Coinbase recognize the potential of zkSync for enhancing transaction efficiency.
• NFT and Web3 Communities: With zkSync's support for NFTs and the broader Web3 space, creators and users benefit from lower minting costs, enabling a vibrant ecosystem of digital art and collectibles.

zkSync & Uniblock

For developers looking to integrate or learn more about our zkSync implementation, our documentation offers a thorough guide. It includes API references, setup instructions, and examples to help you get started. To access this information and explore the JSON-RPC overview along with other essential details, visit our documentation at https://docs.uniblock.dev/reference/json-rpc-overview.