zkSync Era is a layer 2 protocol that scales Ethereum’s security and values through zero-knowledge cryptography. Developed by Matter Labs, zkSync uses zero-knowledge rollups (ZK-rollups) to bundle transactions together and compress them into a single proof that can be verified on Ethereum. This reduces the amount of data and gas fees required to process transactions on the main chain, while maintaining the same level of security and finality as Ethereum.
zkSync Era is also the first zkEVM-compatible protocol to launch on mainnet, meaning that it supports smart contracts written in Solidity, the most popular programming language on Ethereum. This makes it easy for developers to deploy their existing DApps or create new ones on zkSync Era without having to rewrite their code or learn a new language.
Innovative Features
zkSync Era introduces some innovative features that improve the user experience and scalability of layer 2.
Account Abstraction
This allows users to create smart accounts that can have custom logic and rules, such as multisig, social recovery, meta-transactions and more. Smart accounts can also be accessed with any wallet that supports WalletConnect, making it easier for users to onboard and interact with DApps on zkSync Era.
Hyperscalability
This is the ability to process an unlimited number of transactions without a marginal impact on security or cost. zkSync Era achieves this by using recursive ZK proofs that can verify other ZK proofs, creating a tree-like structure that can scale exponentially. This means that zkSync Era can handle any amount of demand without compromising on performance or decentralization.
Use Cases and Benefits
zkSync Era is designed for anyone who wants to use Ethereum in a fast, cheap, and secure way.
DeFi
You can access various decentralized financial services on zkSync Era, such as lending, borrowing, trading, swapping, staking and more. You can also enjoy lower fees, faster confirmations, and higher capital efficiency than on Ethereum mainnet.
NFTs
You can create, buy, sell and trade non-fungible tokens (NFTs) on zkSync Era with minimal gas costs and instant transfers. You can also benefit from the enhanced security and interoperability of zkSync Era’s NFT standard.
Gaming
You can play immersive and interactive games on zkSync Era with real-time transactions and low latency. You can also own and trade your in-game assets as NFTs on zkSync Era’s marketplace.
DAOs
You can participate in decentralized autonomous organizations (DAOs) on zkSync Era with more flexibility and efficiency. You can also use smart accounts to manage your voting rights and governance actions.
How to get started with zkSync Era?
To get started with zkSync Era, there are a few steps you need to follow
- Firstly, you will need a wallet that supports layer 2 transactions, such as MetaMask. This will allow you to interact with DApps on zkSync Era and perform transactions with ease.
2. Secondly, you will need some ETH tokens to pay for transactions on zkSync Era. You can obtain these tokens by purchasing them on an exchange or transferring them from your Ethereum mainnet wallet.
3. Thirdly, you will need to bridge your ETH from Ethereum mainnet to zkSync Era using the official bridge provided by zkSync or other bridging solutions such as Multichain, Celer, or Orbiter Finance. This process may take some time depending on the network congestion and confirmation times.
Once you have bridged your ETH to zkSync Era, you can start using DApps on zkSync Era by connecting your wallet via WalletConnect or MetaMask. This will enable you to access various decentralized financial services, gaming, DAOs, and NFTs with faster confirmations, higher capital efficiency, and lower fees than on Ethereum mainnet.
Conclusion
In conclusion, zkSync Era is a promising solution to Ethereum’s scalability and usability challenges. By leveraging zero-knowledge cryptography and smart contract compatibility, zkSync Era offers faster, cheaper and more secure transactions for a variety of use cases, from DeFi to NFTs, gaming and DAOs. Its innovative features, such as account abstraction and hyperscalability, make it a competitive and appealing option for developers, users and investors alike. As more DApps and users migrate to layer 2 solutions like zkSync Era, the Ethereum ecosystem can benefit from greater adoption, innovation and decentralization.
