# zkSync Airdrop?

**Published by:** [ROHIT MOHOD](https://paragraph.com/@rohit-mohod/)
**Published on:** 2023-03-19
**URL:** https://paragraph.com/@rohit-mohod/zksync-airdrop

## Content

zkSync is a layer-2 scaling solution designed to speed up transactions and lower gas fees on the Ethereum network while maintaining high security and privacy for users. It does this through Zero-Knowledge Rollup (ZK-Rollup) — transactions on Ethereum are bundled up to be processed off-chain and then sent back to the main chain after validation. zkSync is developed by Matter Labs. The company was co-founded in 2019 by Alex Gluchowski and Alexandr Vlasov. Matter Labs has raised over $58 million. Their latest funding was raised on 8th November 2021 from a Series B round led by Andreessen Horowitz (a16z). Other major investors include Dragonfly Capital, Placeholder, 1kx, and more. The ZK-rollup is the core element of zkSync. ZK-rollups generate cryptographic proofs (ZK-SNARK or ZK-STARK) to verify transactions without revealing the information itself, hence the name “zero-knowledge proofs.” It maintains privacy by making transaction details such as token amounts anonymous. It is also highly secure because compressed transaction data are stored on-chain. Unlike other layer-2 solutions, zkSync relies on math instead of third-party validators to scale computation. Validators are known as “operators” or “sequencers” and are in charge of executing, aggregating, and submitting transactions to the main chain, but they do not validate the transactions themselves — the Ethereum smart contract does. By relying on math and cryptographic security, zkSync ensures a truly secure and trustless environment for decentralized finance (DeFi). There is no zkSync token YET. But the ticker will potentially be $ZKS. On 16th February 2023, zkSync launched its Fair Onboarding Alpha, with Full Launch Alpha of zkSync 2.0 i.e. zkSync Era in Q2 2023. Meanwhile, zkSync 1.0 will be renamed zkSync Lite. There is no zkSync ($ZKS) token airdrop yet. Currently, the zkSync Era mainnet is closed, but registered projects can deploy and test their dapps there. Users can also test zkSync Lite.

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