An overview of the zkSync ecological landscape
zkSync is a Layer 2 blockchain that uses Zero Knowledge rollup technology to address Ethernet scalability. Since the launch of zkSync Era (zkSync 2.0) in February 2022, the ecosystem has gradually expanded as it should be able to handle over 20,000+ TPS and become the most efficient Layer 2 EVM-compatible scaling protocol available. The ecosystem is gradually expanding and projects from all tracks of the crypto space are participating in the construction of the protocol ecosystem.
For zkSync, Alex Gluchowski, co-founder and CEO of Matter Labs, has talked about, “Our long-term mission is to make self-sovereign participation in the digital economy affordable for anyone in the world — that is, to maintain true control.” zkSync’s long-term mission can only be achieved with a thriving ecosystem.
According to official sources, there are already over 200 projects deployed or committed to zkSync Era, covering a wide range of verticals such as DeFi, NFT, gaming, identity, privacy, DAO, and including many top projects such as Chainlink, SushiSwap, Uniswap, Aave, Argent, 1inch Gnosis, Curve.
DeFi Domain
ZK has the potential to bring real scalability and privacy to DeFi. For users, the ability to get lower fees, faster transactions and more advanced security. At the same time, services based on ZK technology will be a key driver of the next wave of DeFi innovation.
The zkSync DeFi ecosystem has been growing rapidly in 2022 and has the largest pre-committed DeFi ecosystem in the Ether Layer 2 track. Among others, like Aave founder Stani Kulechov in the community shows that “deploying Aave V3 on zkSync is critical to ensure the security and scalability of the DeFi protocol.” In addition, Uniswap v3’s proposal to launch on zkSync 2.0 received over 700,000 “yes” votes, demonstrating the extraordinary support and participation of the entire community in zkSync.
Currently deployed DeFi protocols include the ZK-Rollup-based AMM and IDO platforms Mute.io, Sprintcheckout, Trustless, Increment, Phezzan Protocol, SpaceFi, MES Protocol, Dexchange, rhino. fi, etc.
Infrastructure Platform
The zkSync ecosystem needs to ensure that developers can easily launch and scale their projects on zkSync, so a robust infrastructure stack can provide a platform for crypto infrastructure players and small project innovators, and the zkSync ecosystem now covers every vertical from prophecy machines to nodes and developer toolkits.
Among other things, native integration of Chainlink Data Feed supports the zkSync ecosystem, enabling developers to access reliable, decentralized market data and secure sources.
For deposits and withdrawals, Ramp enables easy interchange between the crypto ecosystem and fiat currencies through a simple user experience, across different geographic locations with multiple payment methods. ramp already covers over 150 countries and territories worldwide, offering a range of convenient payment methods including credit and debit cards, bank transfers and Apple Pay, Google Pay and more.
In terms of interoperability, Hop Protocol enables the creation of interoperability across Ethernet Layer 2 solutions, allowing users to send tokens from one rollup or sidechain to another rollup or sidechain almost instantly without waiting for rollup verification. hop protocol will be used for trustless bridging for zkSync 2.0.
Accessibility and Digital ID
For the growth of the zkSync ecosystem, increased accessibility is a key part of the ecosystem’s development. Currently, OKX’s one-stop zkSync portal, the decentralized trading platform Hashflow and the crypto-friendly digital platform Juno are all integrated with zkSync.
In addition, wallets like Argent, Numio, Wallet Connect, MetaMask, Formatic, Trezor, Ledger, imToken, and MathWallet already integrate zkSync. cross-chain solutions or bridges also integrate zkSync, with ZigZag and Orbiter Finance already support cross-chaining between zkSync and other blockchains.
In the asset tokenization space, Daura, a tokenization platform launched by institutional service providers, has selected zkSync as the preferred blockchain. tokenization of real-world assets has shifted from small value pilots to tokenization of large-scale value and full on-chain transactions, creating greater potential for the zkSync ecosystem to flourish.
On the digital identity front, RNS.ID, the world’s first Web3 legal identity platform, integrates with zkSync and conducts on-chain KYC, and leverages the zkEVM platform to allow authentication without revealing sensitive user data using the cryptographic features in the Zero Knowledge Proof solution, enabling users to maintain privacy when accessing the Web3 world.
NFT and Web3 Gaming
In the NFT and Web3 gaming space, zkSync’s universal blockchain capabilities will provide a solution due to advances in scalability, interoperability and UX, especially the need for native account abstraction and custom payer functionality.
NFT and Web3 games also need faster, lower-cost transactions that do not congest Ethernet Layer 1 and can be easily integrated with other Ethernet-based applications and protocols, all of which can be seamlessly achieved with zkSync, and users can also benefit from the ecological effects of greater convenience and the ability to achieve a Web2-like user experience based on the smart contract wallet that provides additional security.
Already, more than 40 NFT and Web3 game projects are committed or already live on zkSync 2.0. These include tfoNFT, Art Blocks, Homespace Metaverse, Horizon Land, zkEagles, Kreatorland, Sooho, Mechaverse, Basic Cat Society, Funkyland, and more.
Security and more
Security providers and networks already support the zkSync ecosystem, including OpenZeppelin, an open source smart contract repository, Hacken, a network security auditing company, and Nexus Mutual’s Protocol Cover, which is also connected to zkSync. The security of developers and users on the zkSync ecosystem will be verified, tested, and secured by the most professional teams in the community.
Other ecosystem projects built on zkSync include Snapshot, an on-chain governance platform; Aragon, which allows anyone to create and manage decentralized organizations; Forward Protocol, an application deployment protocol that enables users to interact without a code-free environment; and clr.fund, which provides a funding channel for public products.
When zkSync is fully decentralized, it will introduce a separate consensus mechanism and two different roles, one for verifiers to pledge ecotokens and the other for Guardian to pledge its share of tokens to nominate the majority of holders of verifiers. This means that zkSync will completely decentralize the management of the platform and open up all development source code for complete decentralization.
About Bitbyte
Bitbyte.finance provides SAAS services for developers in the Web3 space, including Defi&NFT applications, Swap and mining pools, and community traffic services, Bitbyte is committed to helping developers quickly build their own Defi financial ecosystem and lower the barrier for traditional users to migrate to decentralized finance.
