The live price of ZKsync is - per (ZK / USD) with a current market cap of $247.93M USD. 24-hour trading volume is - USD. ZK to USD price is updated in real-time. ZKsync is -% in the last 24 hours with a circulating supply of 3.67B.
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zkSync is an Ethereum Layer 2 scaling solution that uses ZK-SNARK-based rollup technology compatible with the Ethereum Virtual Machine (EVM).
Developed by MatterLabs, zkSync is designed to address Ethereum’s key challenges of low transaction throughput and high gas fees. By leveraging zero-knowledge rollup technology, zkSync enhances transaction speed and reduces costs while preserving the security of the Ethereum network. As a result, it has become an ideal solution for decentralized finance (DeFi), non-fungible tokens (NFTs), and other blockchain applications that demand high throughput and low fees.
zkSync’s core technology is based on zero-knowledge rollups, which bundle multiple off-chain transactions into a single batch and then process and verify it on Ethereum’s mainnet. These batches are validated using special cryptographic proofs called zk-SNARKs, which confirm the validity of the transactions without revealing any details. By performing most transaction processing off-chain, zkSync reduces the burden on Ethereum, resulting in lower fees and faster confirmations.
zkSync has formed partnerships with various companies in the blockchain and Web3 space, including the Web3 development platform Alchemy, decentralized data storage service Space and Time (SxT), and the Web3 gaming platform Trala. The project is also backed by prominent investors such as Andreessen Horowitz (a16z), Dragonfly Capital, OKX Ventures, and Blockchain Capital.
The ZK token is primarily used for governance. Token holders can vote on upgrades and other important decisions that affect the protocol. According to the whitepaper, the ZK token also helps encourage community involvement and maintain active participation.
zkSync was created by Matter Labs in 2018. The company is dedicated to improving Ethereum’s performance using advanced cryptographic technologies. Matter Labs was founded by Alex Gluchowski, who also serves as the company's CEO. The CTO and Chief Product Officer are Ankur Rakshit and Steve Newcomb, respectively.
zkSync achieves consensus and verifies transactions through a zero-knowledge rollup system. It bundles multiple transactions conducted off the Ethereum mainnet into a single batch, which is then verified using a special cryptographic proof called a zk-SNARK. This proof is sent to the Ethereum blockchain for final verification. The system ensures Ethereum-level security while reducing the workload on the mainnet, resulting in faster and cheaper transactions.
zkSync (ZK) leverages advanced cryptographic technology to enhance Ethereum’s speed and efficiency without compromising security. Its key innovation lies in using zero-knowledge rollups, allowing transactions to be processed off-chain and verified on-chain. This not only reduces costs and increases security, but also supports full compatibility with Ethereum smart contracts and tools. With features like account abstraction, zkSync improves the user experience and helps developers integrate applications more seamlessly.
The maximum supply of the ZK token is set at 21,000,000,000 tokens. As of this writing, the circulating supply is 3,675,000,000 tokens.
