ZkSync (ZKS)

zkSync is a L2 ZK rollup trying to solve Ethereum scalability

Basics

• Based in:
• Founded in:
• Mainnet release: 18-6-2020

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Launch

• Token got confirmed on 3-5-2022.

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."

Tech

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on: L2 on Ethereum
• Programming language used: Solidity

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• 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 ethereum chain."

Upgrades

• 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 EVM compatible ZK rollup bringing Solidity developers the scaling, security and UX benefits of zero knowledge proofs."

Oracle Method

• zkSync will integrate with Chainlink (11-11-2021).

Their Other Projects

zkPorter

• zkPorter is a new L2 scaling technique combining zkRollup and sharding in a highly scalable yet atomically composable blockchain network.

zkSync

• Is behind zkSync.
• Roadmap can be found here (27-3-2021), it will involve a Zinc virtual machine.
• Had an update (14-7-2021):

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

• From Bankless (18-11-2021):

"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

• From Our Network #45 (30-10-2020):

"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:

• Argent; plans to integrate it (16-3-2021).
• Curve implemented (11-10-2020) on zkSync’s Zinc VM, live on testnet.
• Gitcoin. Used by Gitcoin (11-9-2020).

Partners

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

Roadmap

• Can be found here (3-5-2022).

Usage

• From Our Network (23-4-2022):

"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

• From Coin98 (27-4-2022): 90+ projects in the zkSync ecosystem.
• Curve, Aave, Balance, 1inch, Loopring (9-3-2021)

Team, Funding, Partners

Team

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

Funding

• From Coin98 (27-4-2022):

1. September 2019: $2M from Hashed, Dragonfly Capital, etc.
2. February 2021: $6M from Binance, Coinbase Ventures, etc.
3. November 2021: $50M from a16z, etc.
4. January 2022: a $200M DAO to fund projects on @zksync

• 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."

• 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."

Partners 

• Participated (9-2019) in the Ignition MPC ceremony for PLONK organized by AZTEC Protocol.

(:

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