@__zkhack__ Berlin is officially done, wrapping up @BerBlockWeek!
Congratulations to all the winners! And thanks to everyone for making this 5th edition a great success!
#zkhack #zkhackberlin
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joshrudolf.eth
who has the best simple summary to make the bull case for based rollups as a pragmatic path to solving ethereum-wide interop? In the near/medium-term
will be discussing on this Weds "Interop working group" call (link in next tweet)
Plz also add below in thread here 🫡
ALEX | ZKsync ∎
As a founder of @zksync, I'm all in for scaling Ethereum L1 and figuring out interop between every chain.
I'm bearish based rollups for a different reason: it's an overly complicated Rube Goldberg Machine.
What I mean: all based rollups are essentially a single sequencer that concatenates n chains together; but instead of doing it directly like a simple high-performance chain, it has to deal with political coordination and management of intricate security interdependencies of a dozen of teams. I can elaborate on the technical details if needed.
If we want to scale L1 and directly compete with Solana, let's do it by directly improving the performance of Ethereum clients. Personally, I think that in this case we will fail, because the other camp is much more willing to sacrifice decentralization for higher throughput and lower latency. ETH's strength is in its cypherpunk roots: security, unstoppability and censorship-resistance, that make it the best settlement layer in the world.
If we want elastic, infinitely scalable network of sovereign rollups on Ethereum that can all talk to each other trustlessly, let's enshrine a rollup cluster archtitecture (i.e. shared bridge) directly into L1. It doesn't need to be Superchain or the Elastic Network. Happy to cooperate on this.
If we want the price of ETH to go up, we should stop trying to clinge to the once high, MEV-driven fees. It's just too late, there is no going back. The incentive to control the MEV of a rollup is too high for any OG social pressure to stop people from doing this.
All these attempts to revive ETH's position as a capital asset inevitable lead smart money to analyze chain revenues, and they won't look good compared to the pre-rollup world. It's the reason for ETH/BTC ratio to be where it is.
Instead, we should focus on the fact that ETH is the BTC of the emerging Internet of Value built on Ethereum. There is literally no second best in this economy that can serve as trustless Defi collateral and Store of Value.
I'm saying all of this as an ETH maxi, and my incentives are perfectly aligned. Go check it yourself: all L2 tokens, including ZK and OP, are firmly glued to the price of ETH, with minimal variation.
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ZKsync (∎, ∆)
when they let the intern attend the opening bell ceremony
Pudgy Penguins
Crypto’s mascot.
12.97K
115
Boundless
NYC - get your shades ready 😎
we'll be in Brooklyn today with @citrea_xyz @fiamma_labs enjoying a picnic in the park
come chat with us about BTC 🤝 ZK
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crypto.news
Alt $ZK solutions can save Ethereum | Opinion
Alt verification layers will rescue Ethereum from the $ZK proof deluge coming by 2030, delivering affordability and security, argues John Camardo.
The current price of ZKsync is $0.045080. Over the last 24 hours, ZKsync has increased by +13.24%. It currently has a circulating supply of 6,423,213,782 ZK and a maximum supply of 21,000,000,000 ZK, giving it a fully diluted market cap of $289.88M. At present, ZKsync holds the 0 position in market cap rankings. The ZKsync/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
ZKsync is a Layer-2 zero-knowledge (ZK) rollup designed to scale the Ethereum network and reduce the cost of transacting on the blockchain. ZK rollup, which underpins the platform, is a trustless protocol that allows validators to confirm a transaction's authenticity without revealing any information about the transaction. As a result, the protocol preserves user privacy and security on the network while supporting faster and cheaper transaction processing.
Built by Matter Labs, ZKsync is the first zkEVM (Ethereum Virtual Machine) chain. It's designed to "look and feel like Ethereum," according to the project team, to help simplify adoption. Meanwhile, just like Ethereum, smart contracts are written using the Solidity and Vyper smart contract languages, and can be called via the same clients as other EVM-compatible chains.
How does ZKsync work?
ZKsync adopts ZK technology, a cryptographic method used to confirm the proof of a statement while obscuring any information about the statement itself. Think of the technology like an identity card that confirms you're an adult without revealing your actual age, name, or any other personal details.
ZK rollups help to improve the scalability of the Ethereum blockchain by performing computation and state offchain. The solution bundles transactions together at Layer-2 before they're posted on Layer-1. This method allows users to benefit from all the security advantages of Ethereum's base network but with higher throughput and lower fees.
ZKsync is compatible with EVM, and almost every smart contract written for EVM will be supported by the platform. That means most projects can be migrated over to the network with little to no modification.
Why is ZKsync significant?
ZKsync helps to address one of the most pressing limitations of the Ethereum network — scalability. Ethereum's relatively limited transaction throughput can lead to network congestion during periods of high demand, an issue that's only compounded as more users adopt the network. Meanwhile, congestion can lead to high gas fees, making transactions and interactions with decentralized applications costly. High latency is another challenge impacting the network's performance, as transactions are typically confirmed in a relatively slow 13 to 15 seconds.
ZKsync's use of ZK technology helps to ease these limitations while providing a platform that retains Ethereum's robust security and familiar usability. In theory, this should incentivize more developers to adopt Ethereum, strengthening the network's appeal at a time when competing solutions continue to launch.
ZK price and tokenomics
The ZK token has a total circulating supply of 21 billion. In June 2024, an airdrop was completed to distribute 17.5% of the token's supply to the project's community. Of the approximately 3.6 billion tokens reportedly airdropped to 695,232 wallets, 89% went to those who'd transacted on ZKsync — although the exact criteria wasn't announced — with 11% going to ecosystem contributors. This included ZKsync native projects, onchain communities, and builders. Meanwhile, 49.1% of the ZK supply will reportedly be distributed through "ecosystem initiatives", while 17.2% will go to investors and 16.1% will be allocated to Matter Labs members.
Due to a lack of liquidity, no ZK price was available as of the June 2024 ZK token airdrop. However, based on existing pre-launch futures available on Aevo, ZK perpetuals look to be trading at about $0.22.
About the ZKsync founders
ZKsync was developed by Berlin-based blockchain developer Matter Labs. The company was founded in 2018 by Alex Gluchowski and Alex Vlasov, and first deployed ZKsync to a closed testnet in December 2021. The platform was made publicly available on the mainnet on March 24, 2023.
The Matter Labs team, comprised of engineers, researchers, and technical experts, has made clear its focus on redrawing the limits of blockchain scalability through zk technology and open source developments. The organization is working towards the mainstream arrival of public blockchains, and is backed by numerous major players in the space, including the Ethereum Foundation.
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 5.2K new posts about ZKsync, driven by 2.5K contributors, and total online engagement reached 204K social interactions. The sentiment score for ZKsync currently stands at 80%. Compared to all cryptocurrencies, post volume for ZKsync currently ranks at 2299. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of ZKsync.
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Posts
5,224
Contributors
2,481
Interactions
204,405
Sentiment
80%
Volume rank
#2299
X
Posts
4,997
Interactions
182,985
Sentiment
82%
ZKsync FAQ
How much is 1 ZKsync worth today?
Currently, one ZKsync is worth $0.045080. For answers and insight into ZKsync's price action, you're in the right place. Explore the latest ZKsync charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as ZKsync, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as ZKsync have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
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