zkSync

zkSync

What is zkSync?

zkSync is a Layer 2 scaling solution platform running alongside Ethereum Blockchain (Layer 1) in which its main functionalities focus on low gas fees and faster transactions. Layer 2 solution lessens the burdens on Layer 1 by maneuvering most activities away from Layer 1 and still has security intact. To clarify, all funds are held by a smart contract on the mainchain, while computation and storage are performed separately on the off-chain without compromising security on the mainnet.

Additionally, the zkSync ecosystem also offers atomic swap, limit orders and native L2 NFT support as claimed.

zkSync was developed by “Matter Labs” which was founded in 2018 by Alex Gluchowski. After several series of fundraising, zkSync has processed over 1 million transactions on mainnet and has been integrated into several dApps such as Golem, Numio, StablePay, and Storj.

How to participate in zkSync?

There are 2 options available to participate in zkSync depending on whether you have an Ethereum wallet or a Metamask wallet.

If you have an Ethereum wallet, follow these instructions:

Visit the zkSync mainnet. Connect your Ethereum wallet. Now make swaps on the platform.

If you have a Metamask wallet, follow these instructions:

Visit the zkSync testnet page. Connect your Metamask wallet and you will be automatically asked to change the network to the Goerli test network. Use the Deposit, Transfer, and Withdraw options. Also, click on “Faucet” to get some testnet tokens.

How do you swap on zkSync?

You can efficiently perform a swap by following these 3 steps:

Sign an order that confirms that you want to perform a certain swap Acquire a signed declaration of the same format from the account that you want to swap with Submit both orders with a fee to the zkSync server

Will there be a zkSync token?

The team behind zkSync has already announced that they will launch their native token in the future. Look out for the latest announcement on its official Discord, Telegram, and Twitter.

How do I get zkSync token?

The tokenomics of zkSync’s native token is under development. Look out for the latest announcement on its official Discord, Telegram, and Twitter. You are also advised to keep an eye on activities regarding airdrop events which will grant airdrop winners native tokens in the future.

Does MetaMask work with zkSync?

zkSync is compatible with Ethereum Virtual Machine (EVM) which means MetaMask supports it. So the answer is “yes, it does”.

How do I add NFT to zkSync?

You can easily mint NFTs through zknft.xyz after you have logged in and authorized your account.

How do you bridge ETH to zkSync?

You can use zkSync bridge to bridge ETH to zkSync account following these steps:

Go to https://wallet.zksync.io/ and connect your wallet To connect to the zkSync 1.0 Mainnet, click on the Ethereum symbol at the bottom right and select Mainnet

Choose "+ Top up" You can choose different methods for adding funds to your zkSync wallet including FIAT onramps, zkSync Exchanges, or Bridges

Does Coinbase support zkSync?

No, the centralized exchange doesn’t yet support zkSync DEX.