Blockchain scaling solution to a hyperscalability
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What is zkSync Era?
zkSync Era is a layer 2 protocol that scales Ethereum with its cutting-edge technology. Their goal is to increase Ethereum throughput and maintain its fundamental values. It has grown with the exponential demand of Web 3. The hype and scalability of the blockchain as internet design is the ultimate goal of the protocol.zkSync era also focuses heavily on the security of the network.
zkSync Era testnet has been running for a whole year with 500,000 active accounts and almost 9 million transactions without having any problem.zk Sync Era security model guarantees 100% of the security of Ethereum. The protocol is EVM compatible with additional security benefits. Their designs also allow for unlimited computation in each block, allowing dapps to process more data on-chain. zkSync Era also offers cheap storage compared to L1.
zkSync Era has over 5706850 committed blocks with 33734715 transactions and growing rapidly. Meanwhile, Rocket Pool allows users to bet on the zkSync dashboard. This move means that various protocols are moving towards the zkSync Era for a higher scalability. zkSync Era is seeing strong adoption and may continue to grow in the future.
A look at activities in the zkSync era
zkSync has a total of 824052 unique wallets with over 0.45 ETH bridged per user. The cumulative transactions of the ETH mainnet have seen an exponential increase. The total ETH bridged through the mainnet is around 374021. Meanwhile, the total ETH deposited on the network has seen an increase from the past few weeks.
The total TVL of zkSync has seen an increase from the last few months. zkSync Era TVL has seen an increase from a low of $27 million on March 30, 2023 to a high of $160 million. The number of ETH deposited on the zkSync platform contains 75% of 0.1 ETH deposited or less.
The zKsync deposit trend has seen a decline in recent weeks. The number of dapps on zkSync has increased day by day. The social engagements in the protocol have also observed a strong trend.
Summary
The zkSync Era airdrop has been one of the most talked about topics on social media. The protocol saw an increase in users and TVL from the last few months. zkSync may see strong adoption and scale ETH in the future.
Disclaimer
The views and opinions expressed by the author, or any persons mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets comes with a risk of financial loss
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional money exchange systems. She is also fascinated by the blockchain technology and its function.
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