What is ZKsync (ZK)?
ZKsync is a Layer 2 scaling solution for Ethereum that utilizes zero-knowledge rollups (zkRollups) to enhance the scalability, security, and cost-efficiency of the Ethereum network. By leveraging zkRollups, ZKsync can process thousands of transactions per second while maintaining the same level of security as the Ethereum mainnet. This makes it an ideal solution for decentralized applications (dApps), DeFi platforms, and NFT marketplaces looking to scale their operations.
What Problem Does ZKsync (ZK) Solve?
ZKsync addresses several critical issues within the Ethereum ecosystem:
- Scalability: Significantly increases transaction throughput, allowing Ethereum to handle more transactions per second.
- Cost Efficiency: Reduces gas fees, making transactions more affordable for users and developers.
- Security: Ensures the security and integrity of transactions through zero-knowledge proofs.
- Usability: Provides a seamless user experience with fast and low-cost transactions.
Why Does the Crypto Market Need ZKsync (ZK)?
ZKsync benefits the crypto market by:
- Enhanced Performance: Offers a scalable and efficient solution for Ethereum, enabling the development and growth of dApps.
- Cost Reduction: Lowers transaction fees, making blockchain technology more affordable and accessible.
- Improved User Experience: Provides faster transaction times, enhancing the overall user experience for Ethereum users.
- Developer-Friendly: Supports Solidity and Ethereum Virtual Machine (EVM), allowing developers to easily deploy and migrate their dApps to ZKsync.
History & Achievements
ZKsync was developed by Matter Labs, a team of experienced engineers and researchers. Since its launch, ZKsync has gained significant traction in the Ethereum community, partnering with major projects and integrating with various dApps. It has become one of the leading Layer 2 solutions, contributing to the scalability and usability of the Ethereum network.
Who Created ZKsync (ZK)?
ZKsync was developed by Matter Labs, founded by Alex Gluchowski and his team. The team comprises experts in cryptography, computer science, and blockchain technology, focused on solving Ethereum's scalability challenges through zero-knowledge proofs.
What Technology Does ZKsync (ZK) Use and How Does it Work?
ZKsync uses:
- Zero-Knowledge Rollups (zkRollups): A technology that bundles multiple transactions into a single proof, reducing the load on the Ethereum mainnet while ensuring security and transparency.
- Zero-Knowledge Proofs: Cryptographic proofs that ensure the validity and integrity of transactions without revealing any private information.
- ZKsync SDK: A software development kit that provides tools and resources for developers to build and deploy dApps on ZKsync.
What Affects ZKsync (ZK) Price?
Factors influencing ZK price:
- Market Sentiment: News and developments within the blockchain and crypto space.
- Network Adoption: Increased usage and integration with dApps and projects.
- Technological Advancements: Improvements and upgrades to the ZKsync network.
- Regulatory Changes: Cryptocurrency regulations and legal developments.
Circulating Supply, Total Supply, and Max Supply
- Circulating Supply: 3,675,000,000 ZK
- Total Supply: 21,000,000,000 ZK
- Max Supply: 21,000,000,000 ZK
All-Time High and All-Time Low for ZKsync (ZK)
- All-Time High: $0.321
- All-Time Low: $0.1322
Where to Buy ZKsync (ZK)?
ZK tokens can be purchased on various major cryptocurrency exchanges, including:
- Binance
- Coinbase
- Kraken
- Gemini
- FTX
Who Invested in ZKsync (ZK) at an Early Stage?
ZKsync has attracted investments from notable venture capital firms and investors in the blockchain space. Early backers include firms such as Union Square Ventures, Placeholder, and Dragonfly Capital.
What Are the Revenue Streams of ZKsync (ZK)?
ZKsync’s revenue streams include:
- Transaction Fees: Fees collected from transactions processed on the ZKsync network.
- Partnerships and Integrations: Revenue from collaborations with other blockchain projects and dApps.
- Ecosystem Growth: Incentives and rewards for network participants, including validators and developers.
