The rise of decentralized finance (DeFi), non-fungible tokens (NFTs), and other blockchain-based applications have led to a growing need for faster, cheaper, and more efficient transaction processing. That’s where zkSync comes in — a Layer 2 scaling solution that leverages Zero-Knowledge Rollups (ZK Rollups) to achieve high throughput and low latency while maintaining the security and zero trust of the underlying Ethereum mainnet.

In the current state, the ZK Rollups have a maximum capacity of 2000 transactions per second (TPS), while the zkPorter up to 20,000 TPS.

The zkRollup technology of zkSync is being developed by Matter Labs, a blockchain scalability, research and development company.

The noteworthy aspects of the zkSync era include having security similar to that of the Ethereum mainnet without dependence on third parties. It also allows for permissionless smart contracts compatible with the Ethereum Virtual Machine (EVM) and utilizes a standard Web3 API. Additionally, it maintains important EVM features, such as smart contract composability, while introducing new features such as account abstraction.

The zkSync Era offers support for account abstraction, Solidity, and Vyper programming languages. It has been constructed with an LLVM compiler that will eventually allow us to leverage the capabilities of other programming libraries created using Rust, C++, and Swift. Moreover, any project developed on Layer 2 solution will be future-proof when Layer 3 solution will be unveiled.

The differences between zkSync Era and optimistic rollups (such as Arbitrum and Optimism) are significant. Firstly, zkSync Era offers higher security as it relies on cryptographic security rather than incentivized actors, eliminating the need for watchers. Secondly, zkSync Era has higher capital efficiency as native withdrawals of any asset are faster, while optimistic rollups require users to wait for up to a week. This waiting period can be bypassed through liquidity providers, but this comes at a cost that might not be acceptable for professional traders or institutions that need to move large amounts of liquidity. Thirdly, zkSync Era offers a better user experience for NFT withdrawals as these can be finalized in as little as 15 minutes, while optimistic rollups require users to wait for up to a week. Finally, zkSync Era has cheaper transaction costs for most use cases as it requires less data to be posted on-chain, with the cost of transactions amortized across multiple transactions that touch the same storage slots. Additionally, zkSync Era’s extension, zkPorter, offers ultra-low transaction fees by putting data off-chain, something that optimistic rollups cannot offer due to their reliance on public data for transaction verification.

A current disadvantage of zkSync that it is still centralized, as it is operated and run by the zkSync team’s servers. However, in the near future it is going to be transitioned to a decentralized system.

The mission of the zkSync is to accelerate the mass adoption of cryptocurrencies and to build a thriving ecosystem around zkSync. By providing a fast, secure, and low-cost solution for Ethereum transactions, zkSync aims to make decentralized finance and other blockchain-based applications more accessible to a wider audience.

Looking to the future, zkSync has the potential to revolutionize the way we think about decentralized applications and the scalability of blockchain networks. With its high transaction throughput, low fees, and interoperability with Layer 1, zkSync is poised to play a key role in the ongoing evolution of the Ethereum ecosystem.

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