What Is zkSync Blockchain?
zkSync is a Layer 2 scaling solution for Ethereum, designed to improve scalability and reduce transaction costs. This guide will introduce you to zkSync, from its foundational technology to its expanding ecosystem. Whether you’re new to blockchain or a seasoned user, this guide will provide essential insights into zkSync.
Brief History and Development
zkSync was developed by Matter Labs and launched in 2020. It utilizes zero-knowledge rollups to increase Ethereum’s transaction throughput while lowering costs. Key milestones include the launch of zkSync 1.0 in June 2020 and ongoing development towards zkSync 2.0, which aims to bring more advanced features.
Differences Between zkSync and Other Blockchains
zkSync’s primary advantage is its use of zero-knowledge rollups, which bundle multiple transactions into a single proof, significantly increasing transaction capacity and reducing fees. This makes zkSync an attractive option for users seeking high efficiency and low costs on the Ethereum network.
What You Need to Know About zkSync Ecosystem
The zkSync ecosystem is geared towards improving Ethereum’s performance, supporting a range of applications and projects. Key components include:
zkSwap: Decentralized Exchange
zkSwap leverages zkSync technology to offer fast and cost-effective trading. It has quickly gained popularity for its efficient transaction processing.
zkSync Wallet: User-Friendly Interface
The zkSync Wallet provides a simple and secure way to manage assets on the zkSync network, supporting both ZKS tokens and other Ethereum assets.
Getting Started With zkSync Blockchain
Setting Up a zkSync Wallet
To interact with zkSync, download the zkSync Wallet, which supports ZKS tokens and other assets on the zkSync network.
Acquiring ZKS Tokens
ZKS tokens can be acquired through exchanges or by participating in zkSync-based projects. Buying ZKS with a credit card is also possible.
Use zkSwap
Experience fast and low-cost transactions by using zkSwap for your trading needs.
Stake ZKS
Staking ZKS tokens provides an opportunity to earn rewards while supporting the network. Use the staking feature in your Gem Wallet to begin.
