What Is ZKsync?
Also known as: ZK-Sync, zkSync Era, ZK Token
In short
ZKsync is a Layer 2 scaling network (ZK-Rollup) developed by Matter Labs that proves the correctness of transactions to Ethereum with zero-knowledge proofs. It supports EVM-compatible smart contracts, and its governance token is ZK.
The project's first version was a network designed for payments and token transfers, later renamed ZKsync Lite. ZKsync Era, opened to general use in 2023, is a zkEVM that brings smart contract support. Contracts written in Solidity are run on ZKsync's own virtual machine through a special compiler; for this reason, although the network is largely compatible with Ethereum, there are some differences.
One of ZKsync's standout features is native account abstraction: every account can behave like a smart contract. This makes it easier to pay transaction fees in different tokens or to use alternative authentication and recovery methods. Matter Labs also aims, with a software framework called the ZK Stack, to let other teams build interconnected ZK chains. The ZK token was distributed in 2024 and an airdrop was made to the community.
As with other rollups, who operates the sequencer that orders transactions and the fact that system contracts are upgradeable are centralization risks that users should assess. Bridge, smart contract and governance-related risks should also be taken into account.
Last updated: · This content is for information purposes only and is not investment advice.