ZkSync Coin and top projects on ZKSync: The Future of ETH Scaling Solutions
As for ZkSync coin, there is no separate cryptocurrency associated with the ZkSync protocol. Instead, ZkSync is a scaling solution for Ethereum that enables faster and cheaper transactions, making it easier to use Ethereum-based decentralized applications (dApps) and facilitating the growth of decentralized finance (DeFi)
What is ZkSync?
ZkSync is a layer 2 blockchain protocol that uses zero-knowledge proofs to eliminate Ethereum's inherent congestion and scalability issues. It was developed by Matter Labs, a well-known engineering team based in Europe, and has been audited by several top smart contract security firms, including OpenZeppelin and Halborn. The project has raised $458 million in financing across all rounds, backed by the likes of the Ethereum Foundation
As for ZkSync coin, there is no separate cryptocurrency associated with the ZkSync protocol. Instead, ZkSync is a scaling solution for Ethereum that enables faster and cheaper transactions, making it easier to use Ethereum-based decentralized applications (dApps) and facilitating the growth of decentralized finance (DeFi)
What Makes ZkSync Different From Scaling Solutions?
Several factors make zkSync different from other scaling solutions in the market. Firstly, zkSync is considered a "grassroots" ecosystem that is founded by Matter Labs, a German-based company with a focus on scaling Ethereum. Secondly, zkSync is designed to be smart contract-friendly and allows for the use of Solidity code on its platform.
Thirdly, zkSync is a specialized payments layer 2 solution with a focus on fast and cheap transfers. As of March 2023, zkSync is ranked 7th out of the top 10 scaling solutions with $88.3 million in total value locked inside its smart contracts. Additionally, zkSync has positioned itself as an Ethereum-focused scaling solution and has aligned itself as much as possible with the Ethereum community. Most rollups have aligned themselves with Ethereum because it has the greatest developer share and user activity.
Finally, Matter Labs, the company behind zkSync, has raised $200 million in a Series C funding round co-led by Blockchain Capital and Dragonfly. This will allow Matter Labs to scale zkSync and continue to develop its technology. Overall, zkSync's focus on speed, cost-effectiveness, smart contract compatibility, and alignment with the Ethereum community make it a unique and promising scaling solution for the future of decentralized finance.
ZKSync Coin and top projects on ZKSync
ZKSync does not have a native cryptocurrency, so there is no ZKSync Coin. However, there are projects being developed on ZKSync that may have their own tokens.
As for top projects on ZKSync, there are several early-stage projects currently running on the testnet. Some of the top projects on ZKSync that one could interact with to maximize their chances of a potential zkSync airdrop and even double their rewards include:
Orbiter Finance: A decentralized cross-rollup layer-2 bridge that supports zkSync as well as Arbitrum
ZigZag Exchange: The first case of bigger adoption on a Zk-rollup, offering a decentralized exchange with an implemented order book and minimal fees
Argent: A non-custodial wallet with built-in smart contract functionality
SyncSwap: A cross-chain DEX aggregator for trading various tokens across different networks.
SpaceFi: A decentralized metaverse and NFT marketplace on zkSync
Mute: A zkRollup based DEX, farming platform, and Bond platform built on Ethereum and zkSync
FAQs
Q: How can I test my dApps on ZkSync?
Registered projects can deploy and test their dApps on the ZkSync mainnet as part of the Fair Onboarding Alpha program.
Q: How can I interact with ZkSync?
You can interact with ZkSync using the following links:
Wallet: allows you to check your balances, NFTs, transaction history, and contacts. You can access it at https://wallet.zksync.io
Block Explorer: allows you to explore all transactions and blocks on ZkSync. You can access it at https://zkscan.io
Conclusion
ZKSync does not have a native cryptocurrency, so there is no ZKSync Coin. However, there are projects being developed on ZKSync that may have their own tokens. Recently, zkSync Era was launched on the public mainnet stage. zkSync Era is a scaling solution designed to speed up transactions and lower gas fees on Ethereum. It is compatible with Ethereum and is based on zero-knowledge proofs.