zkSync — Zero knowledge solutions
Ethereum network needed to be offloaded, small amount of transactions per second (tps) was a pain in the neck. However, there is a solution…
Ethereum network needed to be offloaded, small amount of transactions per second (tps) was a pain in the neck. However, there is a solution which not only increases tps rate, but also provides zero knowledge proof.
Agenda:
- what is it?
- how it works?
- use cases,
- conclusion.
What is it?
zk is a short of zero knowledge, whereas zkSync is a network which offloads Ethereum’s traffic and relieves the congestion on the mainnet. Simultaneously, fees are decreased, what makes this solution cheap and suitable for efficient development.
zkSync is tied up with Ethereum, what makes it a layer 2 solution, when Eth is functioning as layer 1.
How it works?
zkSync provides scalability by rollups.
Rollups bundle hundreds of transactions into a single one, without losing data. This solution is extremely efficient and allows to skip high fees…
More about rollups:
Use Cases:
According to main benefits, like:
- transfer fees are reduced by up to one-hundredth of ethereum’s layer 1 fees,
- number of transactions per second increased from 14 to 2000,
- assets from ethereum layer 1 to zkSync layer 2 can be moved instantly.
zkSync is perfect for transferring digital tokens, it can be made cheaper and faster than in ethereum layer 1 network. Moreover, zero knowledge proof impacts on secure verification of tokens ownership.
Conclusion
zkSync is a solution which offers efficient transactions per second rate. Scaling ethereum network and reducing congestion can cause the perfect environment to build and test various dapps, token platforms.
Sources:
zkSync official docs:
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