ZkSync Era Mainnet Alpha Now Launched on Ethereum

ZkSync Era Mainnet Alpha Now Launched on Ethereum

The ZkSync Era Mainnet Alpha has been launched on Ethereum, providing a new layer-2 scaling solution for the network. Developed by Matter Labs, zkSync is a ZK rollup that offers a cheaper and quicker alternative to the main Ethereum network.

Rollups are a type of layer-2 solution that transfers transactions from the mainnet to a layer-2 network. Transactions are then batched and compressed into a small piece of data known as proof, which is then validated and returned to Ethereum.

One of the key features of zkSync is its zero-knowledge Ethereum Virtual Machine (zkEVM). This allows complex encryption to be merged with Ethereum, providing strong data privacy and security. The team behind zkSync is developing a rollup technique based on zero-knowledge cryptography, making it different from optimistic rollups.

The zkSync Era Mainnet Alpha is now available to all users, enabling developers, projects, and users to experience the power of zkEVM. Over 30 projects, including Balancer, Pyth Network, Mute, Redstone, Graph, and Argent, are set to go online on March 24 or over the weekend. Banxa, Yearn Finance, Celer, Chainlink, Aragon, Woo Network, and Tracer DAO are also bringing their cryptocurrencies to the network.

To ensure the security and technical stability of the network, zkSync Era will not be fully decentralized at launch. Transaction validation will be postponed for up to 24 hours, and a time lock will be added later to enable the Security Council and community to sign off on decisions.

Account Abstraction, a recent Ethereum improvement that allows cryptocurrency wallets to be converted into smart contracts, will also be supported by zkSync Era from the start. This will simplify the usage of wallets and enable pre-programmed procedures that were previously manual.

Moreover, the zkEVM platform provides several levels of data availability. Instead of transmitting entire transaction data to Ethereum, zkSync Era will likely report transaction outcomes and balance movements. This will reduce the amount of data exchanged, improve the connection with Oracle, and facilitate the integration of additional utilities.