Thursday, February 29, 2024

zkSync unveils new network of ‘Hyperchains’ — Testnet by end of year

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Ethereum zero-knowledge proof scaling system zkSync Period has unveiled its reply to Optimism’s Superchain idea within the type of ZK Stack.

It’s a modular framework for a collection of ZK-powered customized blockchains referred to as Hyperchains, which can function as a brand new layer on prime of the prevailing layer-2 protocol. The chains can be composable and interoperable, enabling almost-instantaneous transfers of liquidity and flash loans between protocols within the system, which isn’t doable between L1 blockchains.

It shares some similarities to the Superchain community of L2s unveiled by Optimism when it introduced Coinbase’s BASE would be the first addition.

Alex Gluchowski, the co-founder and CEO of zkSync, advised Cointelegraph that the system did away with the necessity for clunky and insecure token bridges, that are the weak level exploited by most of the largest crypto hacks.

“Now we have the ZK Stack now accessible for folks to start out constructing and we have already got the primary merchandise we’re working with to construct it, and this can be stay on the testnet positively by the tip of the yr,” he stated.

Whereas Gluchowski expects greater than 95% of DApps will nonetheless port over on to the L2, the Hyperchains will possible be utilized by initiatives with particular necessities round privateness, pace and information availability. Video games, social networks, low-latency exchanges and banks are a few of the potential customers.

After a barely muted launch, zkSync Period has grown in leaps and bounds, notching up virtually $620 million in whole worth locked. It now processes 20.8 million transactions per thirty days at round 8 transactions per second, peaking at 12 TPS.

The quick rising TVL of zkSync Period. Supply: L2beat

Gluchowski in contrast the ZK Stack to the framework of the web, which allows a limitless enlargement of the community. “You possibly can at all times add extra servers, extra cables, extra connections and develop it from 1000 servers to 1 million servers to 1 billion servers,” he says. “Blockchains at present will not be having this property.”

ZK Stack will make use of recursive scaling, the place transactions are batched right into a ZK proof, after which a collection of these ZK proofs are batched right into a single proof for progressively higher compression. This implies the system can theoretically scale as much as any demand.

Associated: Privacy, scaling drives use cases for zero-knowledge technology

“We are able to nonetheless mix a number of proofs from a number of protocols collectively and paste them collectively recursively,” he defined, including:

“Each on occasion we are going to simply publish one single proof on Ethereum which trustlessly incorporates the proofs of all these chains.”

The code is free and open supply beneath the MIT/Apache license. zkSync advised Cointelegraph that a few massive companions are already on board to trial the system, however didn’t present additional particulars.

Whereas the ZK Stack can theoretically join different ZK roll-ups, reminiscent of Polygon’s zkEVM, ConsenSys’ Linea or StarkNet, Gluchowski indicated that this was unlikely. So the ZK Stack appears to be like unlikely to unravel the interoperability downside with ZK rollups any time quickly.

Journal: Here’s how Ethereum’s ZK-rollups can become interoperable