Introduction
eZKalibur goal is to become the main and most important zk-native DEX but why did we decide to build here? In this thread, we explain the reasons behind our choice and we try to analyze its core functionalities that led us to believe it will take over all the other L2s.
zkSync is an L2 scaling solution that offers faster and cheaper transactions than the main Ethereum blockchain (L1). Layer 2 solutions reduce Layer 1 workload while still inheriting its security and finality.
zkSync significantly reduces gas costs without sacrificing security or user control. It offers:
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Low gas:Â up to 1/100 of L1 gas & cheaper than using optimistic rollups
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High speeds:Â 2000+ transactions per second (tps) compared to 14tps on L1
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Security:Â secured by the main Ethereum blockchain
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Frictionless transfers:Â effortlessly move your crypto between L1 and Layer 2 without delays
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Censorship resistance:Â you can move your assets back to L1 at any time
Main features
Hyperscalability
zkSync Era is designed to accelerate the widespread adoption of blockchain technology by making decentralized applications more accessible and affordable at any scale. It relies on Zero Knowledge, which is a branch of cryptography that uses mathematics to calculate something called a 'zero-knowledge proof' (ZK-Proof) - which is like a seal of approval to check if a given statement is true. A zero-knowledge rollup (ZK-rollup) is a way of using mathematics to verify the outcome of a transaction and compress its data down to a minimum. The proof is generated, which is double-checked for judgment, after which the trade is confirmed as being successful, and written to the underlying L1 blockchain. The advantages of this method are that it enables higher scalability (and lower gas fees), fast finality, and a high-level guarantee that the transaction has not been faked or tampered with.
Security
zkSync Era is a Layer 2 blockchain designed to scale Ethereum, it is a protocol that inherits Ethereum-level security.
zkSync Era's security model doesn't rely on game theory or fraud proofs. Instead, it is built on cryptographic and mathematical primitives. zkSync Era broadcasts its cryptographic proofs along with the information required to authenticate and reconstruct all transactions on Ethereum (L1), this ensures the security of the users' funds by making it impossible to spoof or corrupt the transactions' state.
Far superior UX
To attract millions of mainstream users, it is mandatory to offer them a user experience that doesn’t just match these expectations but exceeds them.
zkSync Era supports native account abstraction, giving developers UX superpowers to bring the first billion users to Web3.
By upgrading users from externally owned accounts (EOAs) to smart contract accounts (CAs) it allows users to build experiences that abstract away seed phrases, schedule and automate payments, and pay gas fees in any token — or even pay the gas on a user’s behalf.
Conclusions
Our goal as eZKalibur is to build the foundation that allows other protocols to bootstrap their liquidity on zkSync. We can’t achieve this without a protocol capable of enabling real applicable yields for all liquidity providers in the ecosystem via sustainable emissions strategies and innovative tokenomics.
If you want to go into detail about how we will manage these sustainable emissions while maintaining attractive APRs please check our previous mirror post here: