What is zkSync?
zkSync is a layer-2 scaling solution that is designed to speed up transactions and lower gas fees on the Ethereum network while maintaining high security and privacy for users. It does this through Zero-Knowledge Rollup (ZK-Rollup) – transactions on Ethereum are bundled up to be processed off-chain and then sent back to the main chain after validation.
What is zkSync’s Zero-Knowledge (ZK) Rollup?
The ZK-rollup is the core element of zkSync. ZK-rollups generate cryptographic proofs (ZK-SNARK or ZK-STARK) to verify transactions without revealing the information itself, hence the name “zero-knowledge proofs.” It maintains privacy by making transaction details such as token amounts anonymous. It is also highly secure because compressed transaction data are stored on-chain.
About zkSync’s Development and Funding
zkSync is developed by Matter Labs, a company co-founded in 2019 by Alex Gluchowski and Alexandr Vlasov. Matter Labs has raised over $58 million, with its latest funding raised on 8th November 2021 from a Series B round led by Andreessen Horowitz (a16z). Other major investors include Dragonfly Capital, Placeholder, 1kx, and more.
zkSync’s Potential Token – $ZKS
There is no zkSync token yet, but the ticker will potentially be $ZKS. On 16th February 2023, zkSync launched its Fair Onboarding Alpha, with Full Launch Alpha of zkSync 2.0 i.e. zkSync Era in Q2 2023. Meanwhile, zkSync 1.0 will be renamed zkSync Lite.
How to get zkSync airdrop?
1: Create a zkSync Wallet
Begin by visiting the zksync wallet website and selecting the ‘Wallet Connect’ option. You will be presented with a QR code that you can scan to connect your wallet to Ethereum. Once you have signed in, you must connect to the zkSync Mainnet. The network will recognize your activity only after you have completed a few transactions or approved a token. For this purpose, zkSync Mainnet deposits are mandatory.
2: Top Up Your zkSync Wallet
Click the “Top up” button, and you may use Ramp to directly fill your L2 Zksync mainnet wallet without utilizing an exchange. This is currently the cheapest option to load your L2 Zksync wallet.
3: Use zkSync Testnet
Add zkSync Era Alpha Testnet on MetaMask
You will need to connect zkSync Era alpha testnet to your MetaMask. To do this, go to your MetaMask and click on the network button, then “Add network”. Then, click “Add a network manually”. Add the following information and click “Save”:
- Network Name: zkSync Era Testnet
- New RPC URL: https://zksync2-testnet.zksync.dev
- Chain ID: 280
- Currency Symbol: ETH
- Block Explorer URL: https://goerli.explorer.zksync.io/
Use the Deposit, Transfer, and Withdrawal buttons to complete transactions on the zkSync testnet. Additionally, click “Faucet” to obtain testnet tokens. https://goerli.portal.zksync.io/faucet.
Interact with the zkSync ecosystem, you can use any of the following dapps:
- Mute.io: is a zkRollup based DEX, farming platform, and Bond platform built on Ethereum and zkSync. Features Automated market maker (AMM) exchange, farming platform, and Bond platform.
- Orbiter Finance: is a decentralized cross-rollup Layer 2 bridge with a contract only on the destination side. It already supports transfer between zkSync and Arbitrum, the cost is low, and the process is instant.
- ZigZag Exchange: is a decentralized P2P order book exchange that uses ZK-Rollups for optimal security and scalability.
- Argent: A mobile wallet that supports Ethereum and zkSync transactions, enabling users to manage their assets and interact with dapps easily.
- MintSquare: A marketplace that allows creators to mint and sell their NFTs on zkSync for fast and low-cost transactions.
- SyncSwap: A decentralized exchange aggregator that uses zkSync for fast and low-cost transactions, enabling users to swap between different assets at the best available rates across multiple exchanges.