Zksync™ | Official Site
Zksync is a Layer-2 scaling solution for Ethereum that utilizes cutting-edge zero-knowledge (ZK) technology to enhance scalability while preserving the foundational values of Ethereum - freedom, self-sovereignty, and decentralization. It aims to address the scalability challenges faced by Ethereum, enabling faster and more cost-effective transactions without compromising security.
Key Features and Benefits of ZKSync:1. Scalability: ZKSync significantly increases Ethereum's throughput by aggregating multiple transactions into a single proof, reducing the load on the Ethereum mainnet. This allows for faster and more efficient transaction processing, enabling a higher number of transactions per second.2. Low Fees: By leveraging ZK technology, ZKSync achieves low transaction fees compared to the Ethereum mainnet. This makes it more accessible for users and reduces the cost of interacting with decentralized applications (dApps).3. Security: ZKSync prioritizes security and ensures the same level of trust as the Ethereum mainnet. It achieves this through the use of zero-knowledge proofs, which allow for the verification of transaction validity without revealing sensitive information.4. Decentralization: ZKSync maintains the ethos of Ethereum by preserving decentralization. It achieves this by relying on Ethereum's security guarantees and utilizing ZK technology to scale while keeping the majority of the transaction data on-chain.5. Compatibility: ZKSync is fully compatible with existing Ethereum smart contracts and dApps. Developers can seamlessly integrate their applications with ZKSync, leveraging its scalability benefits without the need for significant modifications.6. Ecosystem Adoption: ZKSync has gained significant traction within the Ethereum ecosystem. Over 200 projects, including prominent names like Chainlink, Uniswap, Aave, and many others, have expressed interest in deploying on ZKSync.
How ZKSync Works:
- Commitment Phase: In this phase, users deposit their funds into a ZKSync smart contract on the Ethereum mainnet. These funds are then locked and become available for use within the ZKSync Layer-2 environment.
- Transition Phase: During this phase, users can perform various transactions within the ZKSync Layer-2 environment, such as transfers, swaps, and interactions with dApps. These transactions are processed off-chain, ensuring scalability and low fees.
- Withdrawal Phase: If users wish to move their funds back to the Ethereum mainnet, they initiate a withdrawal request. The ZKSync smart contract verifies the validity of the request and releases the funds on the Ethereum mainnet.
- Interact with the zkSync ecosystem.
- Complete quests on zkSync’s Crew3.
- Bonus: Complete zkSync Era tasks on RabbitHole.
zkSync Era and zkSync Lite?
zkSync Era and zkSync Lite are two different versions of the zkSync scaling solution for Ethereum. Here's a breakdown of the two:
Bridge Funds to zkSync Era Mainnet and zkSync Lite
zkSync is a Layer 2 scaling solution that offers cheaper and faster transactions than the main Ethereum blockchain (Layer 1). Layer 2 solutions move most activity away from Layer 1, while still inheriting its security and finality.
How to use zkSync
- To access the entire zkSync ecosystem and to benefit from cheap and instant transactions, you first need a wallet like Argent. Without a wallet, you are unable to onboard to the network as it's not possible to access zkSync through an exchange like Coinbase or Binance. Wallets give you an easy way to buy, sell and store crypto and experience the exciting world of DeFi, NFTs, and much more.
- Swap USDC for WETH
- Swap WETH for USDT
- Swap USDT for USDC
- Swap USDC for ETH
- Swap ETH for BUSD
- Swap BUSD for ETH
Best zkSync Airdrop Routes?
- Add zkSync Era Alpha Mainnet on MetaMask;
- Bridge funds to zkSync;
- Interact with zkSync Lite and zkSync Era Mainnet Alpha;
- Move funds to Orbiter Finance;
- Trade on ZigZag Exchange;
- Set up and use Argent Wallet;
- Test out the Onchain Trade protocol;
- Donate on Gitcoin; and
- Complete quests on Crew3.
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.zksync.