ZKsync: scaling Ethereum with zero-knowledge tech
In a new installment of our series on networks supported by 1inch, we’re looking at ZKsync, a chain leveraging zero-knowledge proofs.
Addressing the need for faster and more cost-efficient blockchain solutions, ZKsync leverages the zero-knowledge proof technology to offer a solution for developers and users seeking a seamless and affordable blockchain experience.
What is ZKsync?
ZKsync is a Layer 2 scaling solution for Ethereum, designed to enhance scalability and reduce transaction costs while maintaining the network's security and decentralization. Built by Matter Labs, ZKsync utilizes zk-rollups, a cutting-edge technology that facilitates processing transactions off-chain and then submitting validity proofs to Ethereum.
By moving computation off-chain, ZKsync increases throughput and lowers fees, making Ethereum more accessible without sacrificing its core principles of trustlessness and decentralization.
Key features of ZKsync
- Zero-knowledge proofs: ZKsync uses zk-rollups to bundle hundreds of transactions into a single proof, reducing the load on the Ethereum mainnet while maintaining the security of Layer 1.
- Low transaction fees: Transactions on ZKsync are claimed to cost a fraction of those on Ethereum, making it an attractive choice for users and developers alike.
- High transaction speeds: ZKsync offers near-instant transaction finality, ensuring a smooth and responsive user experience.
- EVM compatibility: ZKsync features EVM compatibility, allowing developers to seamlessly deploy and run smart contracts on zkSync with familiar tools.
ZKsync and 1inch
The support of ZKsync by 1inch opens up various possibilities for DeFi users. Traders can access competitive rates across DEXes operating on ZKsync, ensuring trading efficiency and cost savings.
ZKsync’s low fees and high speeds perfectly complement 1inch’s mission to deliver a seamless and optimized trading experience.
Why ZKsync?
ZKsync is at the forefront of Ethereum scaling, offering a solution that aims to balance scalability, security and decentralization. Its use of zero-knowledge proofs ensures that transactions are both efficient and secure, while its EVM compatibility makes it a viable choice for developers seeking to scale their applications.
Start trading on ZKsync with 1inch today!
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