- ZkSync uses zero-knowledge proofs to enhance scalability and lower transaction costs.
- ZkSync’s ability to batch multiple transactions together lowers overall transaction costs.
- Launchpads can leverage ZkSync’s Layer 2 solution to increase scalability.
With zero knowledge proofs, the Layer 2 blockchain technology zkSync reduces Ethereum’s innate congestion. The invention of Matter Labs aims to hasten the widespread use of cryptocurrency for individual autonomy.
It is intended to scale Ethereum’s fundamental principles while releasing the full power of trustless blockchain technology. The Ethereum Foundation provided the original funding for zkSync, which has already supported over 14 million high-speed transfers.
What Is ZkSync?
ZkSync is a Layer 2 scaling solution for Ethereum that seeks to deliver quick and inexpensive transactions while upholding the network’s security and decentralisation. Off-chain processing of transactions is made possible by using zero-knowledge proofs, greatly enhancing scalability and lowering transaction costs.
Systems that are zero-knowledge-proof have active cryptographic security. For instance, zk-rollup solutions determine the veracity of a transaction without disclosing the supporting evidence. Zk-rollups, to put it simply, take a “trust me on this” attitude. Zero-knowledge proofs are regarded as one of the most potential scaling and privacy solutions for Ethereum, despite the fact that this may seem contradictory to a layperson.
By building a Layer 2 blockchain that is anchored to the Ethereum mainnet, ZkSync carries out its operations. By depositing their Ethereum tokens into a smart contract on the mainnet, users can use this Layer 2 solution to lock their tokens and create the appropriate Layer 2 tokens. When compared to making transactions directly on the Ethereum mainnet, using Layer 2 tokens allows for substantially higher throughput and reduced transaction fees.
ZkSync’s capacity to batch many transactions together, which lowers overall petrol costs, is one of its key benefits. ZkSync aggregates many transactions into a single proof and pays the petrol fees only once for the full batch, as opposed to each individual transaction needing its own petrol fees. ZkSync is a desirable option for decentralised applications (dApps) that demand fast transaction throughput and minimal costs as a result of this methodology.
Popular Launchpads On ZkSync
When referring to launchpads on ZkSync, a launchpad is a platform that aids startup projects in obtaining funding and launching their development through the use of initial token offerings or token sales. ZkSync can be used as a platform for fundraising activities and token launches despite it being primarily a scaling solution. There aren’t any well-known or well-liked launchpads made exclusively for ZkSync yet. However, it’s important to note that a number of Layer 2 solutions, such as ZkSync, can be used in conjunction with current launchpad systems to improve scalability and lower launchpad expenses.
Popular launchpad platforms that connect with several blockchain networks include:
- Arbipad
It is a multichain launchpad, owned by Good Gaming Guild for metaverse and blockchain gaming projects, which connects the greatest metaverse gaming projects with investors and crypto gamers.
- eZKalibur
It is custom built infrastructure which supports the zkSync ecosystem by developing a flexible and sustainable liquidity strategy. It give a chance to bootstrap their liquidity on zkSync by offering real applicable returns for all liquidity providers through sustainable emission techniques and novel tokenomics.
- Zk launch
Built on a ZkSynch protocol, it is a one-stop shop for projects, providing information, teams, token distribution and reward systems. Its first version is in the testing stage.
- Array Capital
This allows companies to raise financing on Arbitrum’s decentralised, permissionless and interoperable ecosystem. Users engage in safe environment and employ assets superior to the present ERC20 standard.
- Dappad
It is a decentralised platform that ensures fair and transparent token allocations through a two-round system. It leverages the $Appa token to streamline access to high-quality projects. Dappad solves problems such as lack of accessibility due to high token acquisitions costs and a lack of guaranteed allocation spots.
Conclusion
ZkSync is a layer 2 scaling solution for Ethereum, using zero-knowledge proofs to enhance scalability and lower transaction costs. It enables off-chain transaction processing and offers benefits like batching transactions. WHile no exclusive launchpads exist for ZkSync, platform like Arbipad, eZKalivur, Zk launch, Array Capital and Dappad can utilise ZkSync’s scalability for fundraising and token launches.
