ZKsync
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Information about ZKsync (ZK)
ZKsync is a trustless Layer 2 protocol for scalable low-cost payments on Ethereum, powered by zkRollup technology. It is a user-centric zk rollup platform from Matter Labs, with security, user experience, and developer experience as the core focus. ZKsync Version 1.0 launched on the Ethereum mainnet on June 15th 2020, enabling transaction throughput of ~300 TPS.
ZKsync is designed to scale Ethereum without sacrificing the security or decentralization of the network. It uses zero-knowledge rollups, known as “zk-rollups,” to bundle multiple transactions into one single transaction. This approach increases transaction output while minimizing the fees that users have to pay. ZKsync reportedly has a Total Value Locked of over $860 million.
Developed by the Matter Labs team, the ZKsync project has received support from many major investment funds such as a16z, OKX, Crypto.com, Bybit, ConsenSys, and has raised a total of over USD 458 million in funding.
ZK is a native coin of the ZKsync ecosystem, operating on ZKsync according to ERC20 standard, and can be used to:
- Staking to earn rewards
- Pay transaction fees
- Participate in the platform governance
Specifications
- Name: ZKsync
- Symbol: ZK
- Platform: ZKsync
- Standard: ERC20
- Type: Utility, Governance
- Total supply: 21,000,000,000 ZK
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