On March 24, the Ethereum Layer 2 zero-knowledge proof project zkSync announced that the V2 version of the zkEVM mainnet was officially open to the public, named zkSync Era. This is an important milestone moment for Ethereum and L2. Next, let us fully interpret the zkSync Era. .
zkSync was developed by Matter Labs in 2019 and uses zero-knowledge proof Rollup (ZK Rollup) technology to solve the Ethereum mainnet expansion problem. In theory, zkSync can handle up to 20,000 TPS, becoming one of the most efficient L2 EVMs. With the implementation of L3 and account abstraction, zkSync's ultimate goal of mass adoption will be achieved.
zkSync Era released
Before the release of zkSync Era, the official first launch was the V1 version, which is also known as zkSync Lite. This version was released in December 2020. Its main purpose is to make a ZK summary payment.
The zkSync Era introduced EVM, and its vision was to extend Ethereum’s smart contracts without affecting security, decentralization, cost or performance. This vision was finally realized 4 years later, and the team spent a lot of time on the V2 version A lot of time and money, testing and auditing the zkSync Era components alone cost up to $3.8 million.
During this period, the team’s main actions include:
· 7 independent security audits with top security companies such as OpenZeppelin and ongoing audits
·3 internal audits
·Two zkSync Era Public Safety Competitions
·Open bug bounty program to the outside world
·Open source zkSync Era code
·The test network will be launched in February 2022 and the main network will be launched in October 2022.
Currently, zkSync Era is still in the Alpha stage, adding independent monitoring and risk mitigation mechanisms.
· Delay withdrawals and closely monitor for abnormalities
·Allow ZK proof submission
·Continuously monitor system vulnerabilities
·Run additional security audits and bug bounties
·Similar to zkSync Lite, a security committee will be created after the mainnet is stable to allow emergency protocol upgrades through the zkSync security committee
What are the highlights of zkSync Era?
1. Native account abstraction
no mnemonic
Extract private keys and mnemonic phrases that are easily lost or hacked.
Account Abstraction (AA) enables biometric verification and social recovery via family, friends, or selected third parties. Users can log into Ethereum using their web2 profile and customize permissions at the individual application level.
Pay fees in any token
Remove the friction of funding a new wallet with ETH to start trading.
Allows using ERC-20 to pay for gas or offset user gas fees. The gas cost of zkSync Era is already 10-100 times lower than L1, so programmatically subsidizing gas lowers one of the biggest barriers to entry for users.
On the zkSync Era, accounts that subsidize gas for other accounts are called Paymasters, and behind the scenes exchange selected tokens for ETH.
Batch complex actions together
Previously users had to manually approve every contract approval and transaction, creating unnecessary friction and increasing fees.
Using account abstraction, users can batch multiple operations and sign them all at once. This makes dapp interactions cheaper and faster because it means there is only one state change on L1.
Uninterrupted user experience
Every interaction on the chain currently requires a signature. On zkSync Era, users only need to sign once to start a session with preset time and value limits, and then engage in any number of interactions within those parameters.
automatic payment
Users can create automatic and scheduled transfers, recurring payment subscriptions, and other applications not possible today—all while remaining self-regulated.
Although EIP-4337 is a big step in the right direction for Ethereum, it does not mean that it is necessarily perfect. The main reason is that account abstraction introduces dependence on third-party intermediaries. Not only that, it doesn't work for most Ethereum users because most accounts are EOA.
On the other hand, account abstraction is a necessary condition for mass adoption. Unlike other EVM-compatible ZK-rollups, zkSync supports account abstraction. Account abstraction turns each account into a smart contract with its own logic. It allows everyone to have an account that suits their needs, making encryption safe and easy for everyone through seamless compatibility. For example, any account on zkSync Era can pay fees in any token and can even trade with zero fees on protocols willing to subsidize usage.
2. Powerful LLVM compiler
Optimizing virtual machines, on zkSync Era, developers do not need to rewrite code in a new language or use different tools. Built the first LLVM-based compiler for EVM languages (Solidity, Vyper, Yul). LLVM is the world's most mature compiler stack and will bring huge performance and developer experience improvements to the ecosystem.
3. Data compression
The zkSync Era is unique among existing zkEVM projects in that it solves this problem by publishing state differences instead of transaction inputs.
·data compression
·More frequent oracle updates
·Cheap private transfer
·Seamless off-chain storage expansion
4. Super scalability
cheap computing
The zkSync Era uses the ZK technology stack, including an LLVM-based Solidity compiler, a GPU prover, and the upcoming innovative Redshift proof system created by Matter Labs to reduce average transaction costs to a fraction of a cent.
The design of the zkSync Era allows for unlimited computation within each block, allowing dapps to process more on-chain data than before.
The zkSync Era allows maximum utilization of cheap compute by publishing final storage state updates.
cheap storage
zkSync Era provides cheap storage that is several times cheaper than L1, and the upcoming EIP-4844 (Cancun upgrade) is expected to further reduce costs by an order of magnitude.
The zkSync Era's architecture also includes zkPorter; a decentralized storage option with reduced security but much lower cost. Unlike other storage extensions, zkPorter supports synchronous atomic transactions between users and smart contracts on ZK-rollup, enabling shared liquidity and other unique use cases.
Unlimited throughput
Just like all Internet traffic cannot be handled by a single server or even a data center, all value transactions in the world cannot be handled by a single monolithic blockchain.
That’s why the zkSync Era introduces the concept of Hyperchain: a sovereign ZK chain on Ethereum, connected to the cheap and completely trustless Hyperbridge network. Anyone can deploy their own hyperlink with a custom consensus, validator set, or data availability policy - but they will all inherit security and finality from the underlying L1.
While the throughput of each individual hyperchain will be limited by the capacity and decentralization of its nodes, the hyperchains together remove any upper limit on the total throughput that the zkSync Era ecosystem can achieve.
Ecological situation
Although the zkSync Era mainnet has just been released, its ecological development is very rapid. As of the early morning of the 29th, the TVL of the entire ecosystem has exceeded US$50 million, as shown in the figure.
It is not difficult to see from the picture that zkSync Era has attracted the attention of many project parties since its release.
About the interaction of zkSync Era
As the Arbitrum airdrop sweeps the encryption circle, the interaction with zkSync has become popular again. zkSync has made it clear that it will conduct airdrops. The specific time has not yet been determined. The previous interaction was only with zkSync Lite, in order to ensure a greater probability of receiving more airdrops. , zkSync Era interaction must also be done.
1. First open the project official website https://zksync.io/, click on Network and select the bridge option.
2. Open the little fox.
3. Cross-chain from the Ethereum main network to the zkSync Era main network, select the amount of Ether, click Deposit, and wait for about 5 minutes.
4. After the cross-chain is successful, click on the wallet to see the balance.
5. If you want to cross back to the Ethereum main network, just click Withdraw.
At this point, the simple interaction of Eva's official bridge is completed. More functions may be released in the future, and we will continue to update it.
in conclusion
zkSync has a very ambitious vision. The intrinsic value of cryptocurrency will only succeed when it is adopted at scale. ZK is the key to mass adoption. What they want to do is to do it without compromising security, decentralization, cost or Extending Ethereum smart contracts without compromising performance enables mass adoption, and the release of zkSync Era is one step closer to this vision.
