What is Ethereum Layer 2 network ZKsync and how does it work? | Headlines | News | CoinMarketCap
06/14/2024 01:25ZKsync is a Layer 2 scaling solution for Ethereum that aims to increase the network's transaction throughput while reducing transaction fees. It is …
ZKsync is a Layer 2 scaling solution for Ethereum that aims to increase the network's transaction throughput while reducing transaction fees. It is built on top of ZK-rollup technology, which allows for aggregating multiple transactions into a single proof that can be verified on the Ethereum blockchain.
In this article, we will explore what ZKsync is, how it works and its potential impact on the Ethereum ecosystem.
How does ZKsync work?
The ZKsync platform aims to enhance the Ethereum network by addressing its key issues of low scalability and high transaction fees.
The platform utilizes a technology known as zk-Rollups, which is a type of zero-knowledge proof that enables the aggregation of multiple transactions into a single one, processed off-chain and then verified on …