Ethereum Scaling – The Rise of zkSync Layer-2

zkSync is a Layer-2 scaling solution for Ethereum, employing zero-knowledge rollups (zk-rollups) to enhance transaction speed and reduce costs while maintaining Ethereum’s security. This technology allows for batching hundreds of transactions off the Ethereum mainnet and then submitting transaction proofs back to it, ensuring security through Ethereum’s network. One of the standout features of zkSync is its low gas fees, making transactions on its platform up to 100 times cheaper compared to Ethereum’s mainnet. With the upcoming V2 version, zkSync aims to increase its transaction throughput to over 100,000 transactions per second, leveraging zkPorter technology to combine zk-rollups and data sharding. This upgrade will also enable support for arbitrary smart contracts, making it more versatile for developers (CoinMarketCap).

zkSync prioritizes maintaining Ethereum’s core values such as decentralization and security at scale, aiming for what they term “hyperscalability” to process unlimited transactions with minimal impact on security or cost. This approach is part of their broader vision, dubbed the ZK Stack, to create a more scalable and secure blockchain ecosystem. Their commitment to security is evident in the significant resources allocated to audits and bounties. zkSync’s user experience design focuses on intuitive and secure interactions, aiming to onboard the first billion users to Web3 with ease. The network has garnered interest from over 200 projects, including prominent names like Chainlink, Uniswap, and Aave, signaling a strong ecosystem poised for growth (zkSync.io).