Some of the biggest names in decentralized finance, including Uniswap, Sushi, Maker and Curve, are set to launch March 24 on zero-knowledge proof roll-up zkSync Era.
The Ethereum layer 2 scaling network has finally opened to users in alpha after four years in development, enabling faster and cheaper transactions. It is the first Ethereum Virtual Machine compatible zk-Rollup to launch on mainnet (competitor StarkWare uses a bespoke language called Cairo), allowing most Ethereum DApps to simply port over with very few changes.
Between 32 to 50 projects are expected to go live on March 24 or over the weekend, including Balancer, Pyth Network, Mute, Redstone, Graph and Argent. Banxa, Yearn Finance, Celer, Chainlink, Aragon, Woo Network and Tracer DAO are also porting to the network.
“Friday for us is the big one, it’s full launch alpha,” Anthony Rose, the head of engineering for zkSync developer Matter Labs, told Cointelegraph earlier in the week.
“But the systems are super complex and there’s a million other things we want to do.”
While zkSync Era can provide scaling “orders of magnitude” greater than Ethereum’s current 10 to 12 transactions per second (TPS), Rose said it would offer “tens of TPS” initially and scale up as demand requires.
The project launched its “fair onboarding alpha” on Feb. 17, allowing projects to port over and test out security and optimizations. Matter Labs said it spent $3.8 million on security testing, seven independent security audits and a bug bounty program to reduce the risk of any incidents.
The mission continues, and we’ve got more exciting news to share from zkSync Era’s fast-growing ecosystem. Today, we’re announcing our collaboration with WEMADE, creators of @WemixNetwork, to make the future of blockchain gaming a reality. #jointhemissionhttps://t.co/UVBHE838Rr
— zkSync ∎ (@zksync) March 22, 2023
What is a zk-Rollup?
Zk-Rollups — which include zkSync, Scroll and solutions from Polygon, StarkWare and Consensys — compute transactions away from the Ethereum blockchain while providing a tiny cryptographic proof that is written as a single transaction back on Ethereum showing that a bundle of other transactions has been carried out correctly. zkSync also employs recursion, which generates a proof showing a batch of other proofs (each representing many transactions) have been carried out.
Zk-Rollups can enable virtually instant withdrawals, giving them an advantage over optimistic-rollup layer…
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