zkSync is a layer 2 blockchain on Ethereum that eliminates it's inherent congestion via Zero-Knowledge proofs to offload its network traffic and reduce transfer fees.
Zero-Knowledge proofs are extremely cost effective as compared to Optimistic Rollups due to the almost instant finality, and making the assumption that all transactions are good unless challenged.
With the emergence of zkEVM projects to assist with integration with dapps, there is room for zk projects to grow. zkSync currently has 291 projects in their ecosystem, and zkSync Era is still in development.
Some special featuers of zkSync are as follows:
- transfer fee is reduced to 1/100 of Eth L-1 fees
- up to 20k TPS
- Digital assets can be moved from L2 to L1 almost immediately
- The more transaction volume zkSync receives, the less time it takes to withdraw digital assets due to bundling of transactions
- Smart contract interoperability (Solidity can be reused) Show Less
