What is zkSync

With DeFi and NFT etc. With the popularity of applications, Ethereum faces serious scalability challenges. These challenges often result in high transaction fees and network congestion. As a result, a number of Layer 2 solutions have emerged on the market to solve these problems, including zkSync.

zkSync is a layer 2 scaling solution designed to provide cheaper and faster transactions than the Ethereum mainnet (layer 1). By removing most activity from Layer 1, it inherits the security and finality of Ethereum while reducing network congestion and transaction fees.

zkSync is built on a zero-knowledge (ZK) rollup architecture.

Matter Labs

The zkSync project was launched in the summer of 2020, and its creator, Matter Labs, has been working on Layer 2 scaling since at least 2019 and zero-knowledge proofs.

Berlin-based Matter Labs consists of a mostly European team that keeps a low profile. The company's vision is to create the first EVM-compatible zk-rollup, supporting universal applications in Solidity without expensive gas charges and performance barriers.

Matter Labs has raised over $400 million from investors including Blockchain Capital, Dragonfly Capital, and a16z.

zkSync Competitors

zkSync faces competition from other layer 2 solutions, such as those using optimistic rollup (Arbitrum and Optimism) and others zk proves solutions for scaling technologies such as Starkware.

In general, zk-rollups provide faster on-chain processing speed, higher security, and better scalability than optimistic rollups, but require more computing power. Zk-rollups are also temporarily behind on EVM compatibility.

Starkware is another zk-proof solution. Theoretically it is more scalable than zkSync in terms of computing speed and scale, but its technology is not mature enough. Additionally, zkSync is compatible with EVM, while Starkware is not.

For a more detailed analysis of the pros and cons of Optimistic rollups vs. ZK rollups and zkSync vs. Starkware, you can check out our research article: "zkSync vs. StarkWare - What is the difference between the two top ZK rollups? ”

Conclusion

As Ethereum continues to grow and develop, layer 2 solutions like zkSync are essential to solving scalability challenges and making the platform easier for mainstream adoption are critical. As the zkSync Era grows and matures, it will be critical to understand this innovative scaling solution and its role in shaping the future of blockchain technology.