In acknowledgment of its first anniversary, Ethereum Layer-2 scaling protocol zkSync Era has showcased some of its major milestones within 12 months of competing in the competitive L2 world.

The zkSync Era Growth Highlight

Taking to the X platform, the protocol highlighted that the protocol which launched on March 24, 2023, has recorded some innovations including the shipping of the ZK Stack, a modular framework for building sovereign hyperchains.

Since the Layer-2 scaling solutions are designed to help handle transaction throughput, especially as Ethereum often falters in that regard, over the past year, zkSync Era has deployed the Boojum Proof System to help its validators reduce hardware requirements.

One major performance highlight recorded featured the Transaction Per Second (TPS) which topped 188 during 2023’s Inscription Event. zkSync also hosted the largest Code4rena audit competition for over $1.1 million.

zkSync Era is a year old!

In that year, we:

 Shipped the ZK Stack, a modular framework for building sovereign hyperchains

Deployed the Boojum proof system to reduce hardware requirements

 Hit 188 TPS during 2023’s Inscription Event

 Hosted the largest Code4rena… https://t.co/nNX2uEzzL6

— zkSync (∎, ∆) (@zksync) March 24, 2024

Data from analytics platform L2Beat currently pegs zkSync Era as the 3rd performant L2 with an average TPS of 16.23, up 16.94% in the trailing 7-day period. Over the past 30 days, zkSync Era has recorded a transaction count of 37.77 million in the past week. 

The Ethereum L2 comes off as one of the biggest beneficiaries of the recently deployed Ethereum Dencun Upgrade. As it unveiled, the fees for transactions on zkSync Era dropped as low as 1 cent, making the protocol generally more usable than it was a year earlier. Setting its sights on what truly matters, zkSync Era outlines the next major goal which is to truly focus on the Zero Knowledge (ZK) part of its vision.

Driving Ethereum Evolution

There are different protocols with unique technology to scale Ethereum. While zkSync Era is focused on using the Zero Knowledge model, other L2s like Arbitrum and Optimism make use of the Optimistic Rollup tech stack.

To stay relevant as a viable L2, zkSync has had to evolve and encourage community-building as showcased by the Code4rena audit competition.

With zkSync building for the general public, it has had to ink some collaborations over the past year. It is powering the Blockchain Digital ID innovation of the City of Buenos Aires in Argentina, showcasing how its application can be diversified.

With the zkSync protocol yet to launch its native token, most of the innovations it is powering underscores the capabilities of Ethereum and this is showing up positively in boosting the price of the coin.

The post Ethereum L2 zkSync Era Unveils Major Milestones After 1 Year Launch appeared first on CoinGape.

---

Filed under: News - @ January 1, 1970 12:00 am