Difference between revisions of "ZkSync (ZKS)"

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zkSync is a [[Layer Two|L2]] [[Rollups|ZK rollup]] trying to solve [[Ethereum (ETH)|Ethereum]] scalability
==Basics ==
==Basics ==
* Based in:
* Based in:
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* [[Whitepaper]] can be found [insert here].
* [[Whitepaper]] can be found [insert here].
* Code can be viewed [insert here].
* Code can be viewed [insert here].
* Built on:
* Built on: [[Layer Two|L2]] on [[Ethereum (ETH)|Ethereum]]
* Programming language used:
* Programming language used: [[Solidity]]
=== Transaction Details ===
=== Transaction Details ===
* Capacity ([[TPS]]):
* Capacity ([[TPS]]):
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* [https://www.coindesk.com/matter-labs-unveils-layer-2-scaling-solution-for-ethereum-payments From] [[CoinDesk]] (5-12-2019):
* [https://www.coindesk.com/matter-labs-unveils-layer-2-scaling-solution-for-ethereum-payments From] [[CoinDesk]] (5-12-2019):
"''Funds [[move]] between users inside the [[smart contract]], which is orchestrated by [[validators]] and guardians. When a [[contract]] is open, validators package transactions into [[blocks]]. Elected by guardians, validators have a [[near]]-perfect probabilistic guarantee of participating honestly with safety features such as built-in collateral (to disincentivize cheating). Users also decide when a contract closes, sending funds back to the [[Main chain|main]] [[ethereum]] chain."''
"''Funds [[move]] between users inside the [[smart contract]], which is orchestrated by [[validators]] and guardians. When a [[contract]] is open, validators package transactions into [[blocks]]. Elected by guardians, validators have a [[near]]-perfect probabilistic guarantee of participating honestly with safety features such as built-in collateral (to disincentivize cheating). Users also decide when a contract closes, sending funds back to the [[Main chain|main]] [[ethereum]] chain."''
=== Fees ===
=== Upgrades ===
* [https://ournetwork.substack.com/p/ournetwork-issue-118?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo1MjY3MDkwNiwiXyI6InE4L1VrIiwiaWF0IjoxNjUzMDQyNzc0LCJleHAiOjE2NTMwNDYzNzQsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.UE2XSsIgrPortaxRKTLEqwnrGp0my9DJJ10ffQfVPOU&s=r From] [[Our Network]] (23-4-2022):
''"[[Matter Labs]] team has been focused on building zkSync 2.0, which has been live on [[testnet]] since Feb 2022. Powered by zkEVM, zkSync 2.0 is the first [[Ethereum Virtual Machine (EVM)|EVM]] compatible ZK rollup bringing [[Solidity]] developers the scaling, security and UX benefits of [[Zero-Knowledge Proofs|zero knowledge proofs]]."''


=== Staking ===
=== Staking ===
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== Usage ==
== Usage ==
* [https://ournetwork.substack.com/p/ournetwork-issue-118?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo1MjY3MDkwNiwiXyI6InE4L1VrIiwiaWF0IjoxNjUzMDQyNzc0LCJleHAiOjE2NTMwNDYzNzQsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.UE2XSsIgrPortaxRKTLEqwnrGp0my9DJJ10ffQfVPOU&s=r From] [[Our Network]] (23-4-2022):
''"zkSync 1.0 has processed over 7.3m [[Transaction (Tx)|transactions]]. Despite the lack of [[Smart Contract (SC)|smart contract]] functionality, zkSync 1.0 continues to see healthy growth. There have been more than 378k transactions from ETH [[Mainnet]] to zkSync by more than 257k unique [[Address|addresses]]. At time of writing, zkSync 1.0 currently has ~$132.4m [[Total Value Locked (TVL)|TVL]]. TVL reached an all-time high in March 2022 of $163m."''
=== Projects that use or built on it ===
=== Projects that use or built on it ===


Revision as of 03:22, 30 May 2022

zkSync is a L2 ZK rollup trying to solve Ethereum scalability

Basics

History

Audits & Exploits

Bugs/Exploits

Governance

Admin Keys

DAO

Treasury

Token

Launch

Token allocation

Utility

  • From their docs (3-5-2022):

"When zkSync becomes fully decentralized, the token will be used for staking in order to become a validator in the zkSync network. More details to come."

Token Details

Stablecoin

Tech

Transaction Details

How it works

"Funds move between users inside the smart contract, which is orchestrated by validators and guardians. When a contract is open, validators package transactions into blocks. Elected by guardians, validators have a near-perfect probabilistic guarantee of participating honestly with safety features such as built-in collateral (to disincentivize cheating). Users also decide when a contract closes, sending funds back to the main ethereum chain."

Fees

Upgrades

"Matter Labs team has been focused on building zkSync 2.0, which has been live on testnet since Feb 2022. Powered by zkEVM, zkSync 2.0 is the first EVM compatible ZK rollup bringing Solidity developers the scaling, security and UX benefits of zero knowledge proofs."

Staking

Other Details

Oracle Method

Privacy Method

Their Other Projects

zkPorter

zkSync

"The update will add support for swaps, NFTs, a new event system and permissionless token listing to the zkSync layer 2 rollup."

"The highest capacity measured so far was during a Gitcoin grants round that saw a peak load of 20,000 transactions per hour—5.6 TPS. Though it is a significant amount less than the 18,000 transfers demonstrated by StarkEx, it was sustained for an entire hour."

Usage

"Live with payment support since June 2020, zkSync has processed over 300,000 transactions in total. The Gitcoin grants round 7 was one big driver in transaction volume, starting on 15th September and ending on 2nd October. It is worth noting that there are no block rewards or delegations on the current zkSync network yet and therefore all 300,000 transactions represent real interactions between users. 1inch’s Mooniswap and Balancer are currently in the process of completing their integrations as well."

Projects that use it / build on top of it:

Partners

  • imToken has joined with Matter Labs to support zkSync (29-3-2021)

Roadmap

  • Can be found here (3-5-2022).

Usage

"zkSync 1.0 has processed over 7.3m transactions. Despite the lack of smart contract functionality, zkSync 1.0 continues to see healthy growth. There have been more than 378k transactions from ETH Mainnet to zkSync by more than 257k unique addresses. At time of writing, zkSync 1.0 currently has ~$132.4m TVL. TVL reached an all-time high in March 2022 of $163m."

Projects that use or built on it

Pros and Cons

Pros

Cons

Competition

Team, Funding, Partners

Team

  • Full team can be found [here].
  • Alex Gluchowski; CEO

Funding

  • From their blog (1-3-2021):

"This [undisclosed amount] round is led by Union Square Ventures, Cloudflare, Firebase, Twilio, MongoDB, and Coinbase. It also includes our existing investors — Placeholder, 1kx, and Dragonfly — who have provided us with incredible support over the last two years."

  • From their blog (8-11-2021):

"Announced US$50M in new funding today (in addition to US$6M raised at Series A in February this year).

The Series B financing was led by Andreessen Horowitz and included existing investors Placeholder, Dragonfly, and 1kx. A second financing was closed with strategic partners such as Blockchain.com, Crypto.com, Consensys, ByBit, OKEx, Alchemy, Covalent and joined by the founders and leadership of AAVE, Paraswap, Lido, Futureswap, Gnosis, Rarible, Aragon, Liquity, Celer, Connext, Perpetual, Euler, Opium, and 70 more."

Partners 

(:

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