On Friday 28th October 2022, the much awaited Ethereum rollup from Matter Labs dubbed as zkSync released. It is said to be the second version of Ethereum scaling platform from its developer.
Before the much-anticipated “Baby Alpha” launch, zkSync, an Ethereum “rollup” network that enables users to transact swiftly and affordably without sacrificing security, came under fire from doubters and rivals leery of its most bold technological claims.
In particular, Matter Labs’ marketing of the zkSync v2 platform as the first of its sort to “launch” on Ethereum’s mainnet, defeating quickly approaching rivals from Polygon and Scroll, has come under fire.
Although the platform is now active on Ethereum’s main network, for the time being it will have very few functionalities. The Baby Alpha launch, according to Matter Labs’ official road map, will not be open to outside projects but will instead be used to put zkSync’s systems “through a series of real-money stress tests that will help us verify the production system is operating as intended and is performing as expected.”
According to the road map, a “Fair Launch” with access to outside teams would occur soon.
The first of three anticipated zkEVM projects to deploy in some capacity on Ethereum’s mainnet is zkSync, even though access to its v2 network will initially be highly limited. All of the projects promise to be compatible with any Ethereum smart contract and to outperform the network’s existing scaling solutions in terms of security and efficiency.
The majority of network activity is anticipated to occur through layer 2 rollup platforms in the upcoming years as a result of the Ethereum community’s adoption of a rollup-centric road map, which addresses Ethereum’s exorbitant fees and slow speeds. Layer 2 rollup platforms are quick and inexpensive networks that sit on top of Ethereum.
A layer 2 network called zkSync is a “zero-knowledge” (ZK) rollup that combines user transactions and sends them to Ethereum so that they can be added to its ledger. ZK-rollups use intricate cryptographic proofs to demonstrate the integrity of the data they transmit to Ethereum.
The bite-sized computer programmes that power apps on Ethereum, known as “smart contracts,” will all be fully interoperable with zkSync’s v2 platform, in contrast to the previous version of its rollup.
Source: https://www.thecoinrepublic.com/2022/10/30/zksync-launches-despite-criticism-all-over/