zkSync - L2 protocol is positioned as a scaling and privacy mechanism for Ethereum. It is based on the ZK-Rollups technology, on which Vitalik Buterin has high hopes.

Development of zkSync began in the summer of 2020, although the company behind it, Matter Labs, has been working on L2 solutions based on zero-knowledge proofs since at least 2019. The CEO and co-founder of the project is Alexey Glukhovsky. In June 2020, a beta version of the platform was introduced with a performance of up to 200 transactions per second.

Among its distinctive features:

• commissions in the transferred token,

• not in Ethereum gas; instant confirmation of transactions and their completion within a few minutes;

• withdraw funds to the main Ethereum network in less than 15 minutes.

In early 2021, startup Matter Labs raised $6 million from Union Square Ventures, Coinbase, DeFi projects Aave, Balancer and Curve Finance, venture capital firms Placeholder, 1kx, Dragonfly Capital and other well-known market players.

Late that year, Matter Labs closed a $50 million Series B funding round led by a16z. Other contributors include: Blockchain.com, Crypto.com, ConsenSys, Bybit, OKEx, Alchemy, Covalent. In November 2022, the firm raised $200 million in a Series C round led by Blockchain Capital and Dragonfly. The total amount of investments received by the project during four rounds is $258 million.

In March 2023, the alpha version of the zkSync Era L2 solution, formerly called zkSync 2.0, was launched. It assumes account abstraction, which means that each address on the network is a separate smart contract.

The developers noted that initially the protocol will not be completely decentralized, so that the team has time to fix security issues. Matter Labs spent $3.8 million on several smart contract audits and rewards for white hat hackers. Rollups used by zkSync provide high privacy of operations and allow scaling the main Ethereum network: many transactions are combined into a single package, which is confirmed in the first level blockchain.

zkSync - L2 protocol is positioned as a scaling and privacy mechanism for Ethereum. It is based on the ZK-Rollups technology, on which Vitalik Buterin has high hopes.

Development of zkSync began in the summer of 2020, although the company behind it, Matter Labs, has been working on L2 solutions based on zero-knowledge proofs since at least 2019. The CEO and co-founder of the project is Alexey Glukhovsky. In June 2020, a beta version of the platform was introduced with a performance of up to 200 transactions per second.

Among its distinctive features:

• commissions in the transferred token,

• not in Ethereum gas; instant confirmation of transactions and their completion within a few minutes;

• withdraw funds to the main Ethereum network in less than 15 minutes.

In early 2021, startup Matter Labs raised $6 million from Union Square Ventures, Coinbase, DeFi projects Aave, Balancer and Curve Finance, venture capital firms Placeholder, 1kx, Dragonfly Capital and other well-known market players.

Late that year, Matter Labs closed a $50 million Series B funding round led by a16z. Other contributors include: Blockchain.com, Crypto.com, ConsenSys, Bybit, OKEx, Alchemy, Covalent. In November 2022, the firm raised $200 million in a Series C round led by Blockchain Capital and Dragonfly. The total amount of investments received by the project during four rounds is $258 million.

In March 2023, the alpha version of the zkSync Era L2 solution, formerly called zkSync 2.0, was launched. It assumes account abstraction, which means that each address on the network is a separate smart contract.

The developers noted that initially the protocol will not be completely decentralized, so that the team has time to fix security issues. Matter Labs spent $3.8 million on several smart contract audits and rewards for white hat hackers. Rollups used by zkSync provide high privacy of operations and allow scaling the main Ethereum network: many transactions are combined into a single package, which is confirmed in the first level blockchain.