Update June 18 2020: zkSync v1 is live on Mainnet!
On Friday March 24, 2023 zkSync has announced the alpha release of the zkEVM Era Mainnet, a new technology that enables smart contract execution on Ethereum using zero-knowledge proofs.
This technology has the potential to significantly improve the scalability and privacy of the Ethereum network. The zkEVM Era Mainnet Alpha utilizes zero-knowledge proofs to execute smart contracts off-chain, reducing the computational load on the Ethereum network. This allows for faster and more efficient execution of smart contracts, while also maintaining the security and integrity of the network.
Well, this means that zkSync Era is now open to everyone, whereas previously, it had been open only to developers.
The robust testing is completed, multiple tier-1 security audits, public contests, and bug bounties. Independent monitoring and risk mitigation mechanisms are added and now everyone - developers, projects, and users can build on and bridge funds to experience the power of zkEVM.
This alpha release of the zkEVM Era Mainnet is a significant milestone for Matter Labs and the Ethereum ecosystem as a whole! It represents a major step forward in addressing the scalability and privacy issues that have long plagued the Ethereum network.
However, it's important to note that this is still an alpha release, which means there may be some issues that need to be addressed before it is ready for full deployment. Matter Labs is actively seeking feedback from developers and users to help identify and address any issues that may arise during the testing phase (see zkSync Era Bug Bounties by Immunefi program here).
With the latest quarterly report about the state of ZK, provided by ZKValidator team, it is clear that 2023 is becoming the year of explosion for zero knowledge technology, and that one of the main reasons for such an important narrative in the media and in social media is the launch zkSync zkEVMs! After launching almost a month ago, here are some stats regarding the activity and performance:
Yes, zkSync is on a roll 🚀 with a 600% increase in the number of daily active users and a 900% increase in the value of assets processed. These figures demonstrate a clear vote of confidence in zkSync and its ability to provide a fast, secure, and low-cost solution for Ethereum transactions. With such strong growth and investment, Matter Labs and zkSync are set to continue leading the way in the field of blockchain scaling solutions.
The CEO of Matter Labs (the development team behind zkSync) stated that there is currently no need for a token as the network is still highly centralized. However, he does anticipate the sequencer becoming decentralized within about a year's time.
Here are some useful resources for you to get started:
txFusion x zkSync collaboration will take the Ethereum to new heights, making a safe, scalable and decentralized future of transactions a tangible reality.
The goal is to create a seamless and user-friendly blockchain experience by providing the community with the tools and resources they need to succeed. You can read more about this collab here.
To learn about what zkSync projects we’re developing in our txCity, visit our blog and follow us on Twitter and Medium.
*This article is also published on txFusion Medium channel.
