Ethereum’s scalability problem has been one of the most controversial issues in the crypto world for years. While Ethereum is trying to increase its scalability by integrating its network and moving towards a proof-of-stake mechanism, it still takes time to implement on-chain solutions such as sharding, and off-chain solutions such as layer two can greatly help to increase scale. Ethereum is slow. zk sync solution One of the most popular solutions is the second layer of Ethereum, which can up to 2000 transactions per second process But zk sync What is? How does it increase the scalability of Ethereum and what technologies does it use? Answers to all these questions in the continuation of this article from Valex.
What is zk sync layer two project?
ZK Sync blockchain project in the middle The year 2020 It was launched on the Ethereum blockchain; This project is an Ethereum layer 2 solution to solve its scalability problem. zk sync uses the zkrollup solution, which is a subset of the rollup technology but with a combination of layer zero algorithms. This project with The slogan of limitless scalability It has started its activity and has shown good performance until today. By taking over a part of Ethereum network traffic, ZKSync is trying to reduce its operational load, which can increase the speed of transaction processing by Ethereum. In addition, by using roll-up technology, it consolidates transactions and processes a large number of transactions as one transaction in the second layer. This will reduce Ethereum network fees.
Introducing the zk sync project team
The zksync project is a product of the Matter Labs team, and this team is responsible for the development of this project. There is not much information available about the members of this team, but some of its famous people are: Alex Gluchowski (Alex Gluchowski) the founder and CEO of this collection pointed out. MeterLabs team started its activity in 2019 and has been working on the development of this project for about 4 years. During this time, they have cooperated with many organizations and investors and have attracted more than 485 million dollars in total. Famous investors of this project include A16Z, Ethereum foundation, Coinbase venture.
How does zk sync layer 2 network work?
To answer the question of how zk sync works, we must first look at its mechanism. ZK Sync layer two solution in two stages It increases the scalability of Ethereum. In the first step, it agrees a large number of transactions together (this is called roll-up) and transfers them to the zk sync layer, which is a second layer, with the help of smart contracts; This makes many transactions count as a single transaction and only one fee is paid for all of them. As a result, the fee of a transaction is spread among many users and reduces their cost. In the next step, it processes these transactions. Consider processing using zero-knowledge algorithms (zero-knowledge) is done These types of algorithms minimize the amount of data required for processing and cause a small amount of data to be used for processing.
In the Ethereum blockchain, the implementation of smart contracts and their support is the responsibility of the Ethereum virtual machine (EVM), but unfortunately, the compatibility of this machine with zero knowledge algorithms is very difficult, and the second layer networks that are part of the solution Zero knowledge roll-up users are required to set up their own virtual machine. But the solution of the second layer of zk sync in its second version (Zksync 2.0) is trying to be compatible with the Ethereum virtual machine, which can cause a large number of Ethereum network applications to move to the second layer of Zksync and start their activities on this platform. . Zero-knowledge algorithms are divided into different categories (interactive and non-interactive), which the ZK-Snarks project uses. (Snarks stands for Succinct Non-interactive Knowledge Argument and means brief and non-interactive proof).
In Zk sync, transactions are taken from the first layer, aggregated and processed in the second layer; Then they return to the first layer and are stored in it. In this mechanism, the state of the transactions is regularly restored by the smart contracts of the first layer, and for this reason, the first layer establishes a high interaction with the second layer. This makes data and currency transfer between these two networks in the shortest possible time. In addition, interactivity in the network increases the security of the second layer network, and for this reason, it can be said that the zero knowledge roll-ups in ZKSync benefit from a very high level of security.
The new version of zksync (zksync 2.0)
The Zksync project is launching its mainnet and a lot of changes are going to happen in this version. It was said above regarding the incompatibility of Ethereum virtual machine with zero knowledge algorithms; But ZK Sync is fixing this problem in its new version. In the new version, recovery of transaction status in two ways within the chain (Using Zkrollup) and off-chain (using Zkporter) will be done. Both will be interoperable, so users using Zkporter can seamlessly interact with users using Zkrollup. The difference between the two is the 99% reduction in fees at ZK Porter. (Of course, keep in mind that most of the security in ZK Porter is the responsibility of the layer 2 network)
ZK Porter will also enable interaction with EVM and decentralized applications based on Ethereum will be transferable on this platform. The fee for making a transaction on UniSwap using Zkporter can be less than $0.03.
Users will be able to choose; They can use the zero-knowledge roll-ups model and entrust the security of their assets to the Ethereum network (on-chain recovery) while enjoying low fees. Also, users looking for very low fees can settle for the guaranteed security of Zksync (off-chain recovery) and use Zkporter. Like Ethereum, ZK Porter supports smart contracts developed by programming language solidity will have
Advantages and disadvantages of zk sync
ZKSync’s second-layer developer can be considered the first second-layer project that uses zkrollup technology. In addition to many advantages, this project also has disadvantages that we will discuss further.
What are the benefits of zk sync?
One of the most prominent advantages of this project is ZK Porter and EVM compatibility, while other projects using zkrollup are not compatible with EVM. These advantages can cause the ZK Sync ecosystem to grow even more.
ZKSync has paid special attention to the field of NFTs and users can multiply, trade and transfer NFTs on this platform. In addition, it is possible to transfer NFTs between the Ethereum network and the second layer. Users can agree the purchase transactions of multiple NFTs and all transactions can be done by paying only one fee.
What are the disadvantages of zk sync?
The main criticism of this network is the lack of sufficient decentralization. The operators of this network are centralized and selected by the team itself. Of course, the project team has announced that they will fix this problem in their future plans and will pay special attention to increasing decentralization.
The second case is the compatibility of decentralized applications with zero knowledge algorithms. While this project has taken the necessary measures to be compatible with EVM, but still due to the difficulty of implementing these types of applications, few developers may be attracted to the ZK Sync ecosystem.
The final case some users report from Slow transfers between two networks Is. While ZK Sync promises high speed and scalability to users, a number of transactions must be aggregated to perform a roll-up, and if the demand for this work is low, the performance of this network may be somewhat problematic.
Roadmap of the ZK Sink project
Zk sync layer two solution has put three steps in the road map to develop the main network, which we will introduce each of them below.
Baby alpha phase
This project will launch the main network in the Baby alpha phase, and the purpose of this phase is to perform some internal tests, especially in order to maintain security. At this stage, users can always be active in the test network, help the project in debugging and check the network status through the explorer. (This step has been implemented to a large extent)
Fair onboarding alpha phase
At this point, decentralized applications will be allowed to run publicly. The project will have a special focus on improving the mechanism, support and increasing the interactivity of users. In this phase, the ZK Sync ecosystem is formed and transactions begin. In this phase, users can monitor the performance of smart contracts launched on this platform, learn about the ecosystem and its capabilities, and use a number of products of this project. (The implementation date of this stage is set for the first quarter of 2023)
Full launch alpha phase
In this phase, the network is launched publicly and can be widely used. Users can interact with the ecosystem of this network and developers can publicly develop their applications on this platform. The focus of the project in this phase will be on upgrading the network. (The implementation date of this stage is the second quarter of 2023)
Decentralization
After the full implementation of the mentioned items, they will decentralize. In this phase, they will try to increase decentralization in order to produce blocks and validate transactions. This project has announced that it has paid special attention to the issue of decentralization and has appropriate instructions for doing it.
How to use the second layer of zksync
Above, we answered the question of what is zk sync, but how can it be used? To work with the second layer of zksync, you must first add its network to your wallet. To do this, you can enter the site Chain List done, connect your TrustVolt to it, search for the desired network (Zksync v2) and then proceed to add it to the wallet.
The next step should be through this link Check out the ZKsync cross-chain bridge to transfer your assets from Ethereum to the second layer of Zk sync. To do this, you must select the desired currency and volume and transfer your assets by clicking on the Deposit option. To withdraw the asset and return it, you must also refer to the withdraw section, select the desired currency and volume, and click on the withdraw option to return the desired assets to the Ethereum layer.
Of course, currently this process is only possible on the test network (Goerli) and after the launch of the main network, it will be possible on its platform and with real assets!
Zksync airdrop
The zk sync layer two project has not launched its native currency yet, but according to the mentioned explanations, we can expect that its native currency will be launched at the same time as the main network is launched. Considering zk sync’s high fundraising, we can expect a valuable airdrop from this project. In order to increase their chances to participate in this airdrop, users are doing activities in the first version of this network and the test network of the second version.
What is sync? Introducing the solution of the second layer of the Ethereum network for the first time on the Wallex blog. appeared.
