In celebration of its one-year anniversary, zkSync Era, Ethereum’s Layer-2 scaling protocol, highlights significant milestones achieved within the competitive Layer-2 ecosystem over the past 12 months.
Key Highlights of zkSync Era’s Growth: Announced on March 24, 2023, zkSync Era has introduced notable innovations, including the launch of the ZK Stack, a modular framework facilitating the creation of independent hyperchains. To address Ethereum’s transaction throughput limitations, zkSync Era implemented the Boojum Proof System, reducing hardware requirements for validators.
A notable achievement includes reaching a Transaction Per Second (TPS) peak of 188 during the 2023 Inscription Event. Additionally, zkSync Era hosted the largest Code4rena audit competition, with a prize pool exceeding $1.1 million. Presently, analytics from L2Beat ranks zkSync Era as the third most performant Layer-2 solution, with an average TPS of 16.23, marking a 16.94% increase over the past week. In the last 30 days, zkSync Era processed approximately 37.77 million transactions.
Following the Ethereum London Upgrade, transaction fees on zkSync Era significantly decreased, reaching as low as 1 cent, enhancing protocol usability. Looking ahead, zkSync Era aims to prioritize the Zero Knowledge (ZK) aspect of its vision.
Contribution to Ethereum’s Advancement: Amidst various Layer-2 scaling protocols, zkSync Era distinguishes itself by employing the Zero Knowledge model, while others like Arbitrum and Optimism utilize Optimistic Rollup technology. Continuously evolving, zkSync Era fosters community engagement, exemplified by initiatives such as the Code4rena audit competition.
With a focus on broad accessibility, zkSync Era has forged partnerships over the past year, including collaboration with the City of Buenos Aires in Argentina for Blockchain Digital ID innovation, demonstrating the protocol’s versatility.
While zkSync Era has yet to introduce its native token, its innovations underscore Ethereum’s capabilities, positively impacting the cryptocurrency’s market value.