Startup Matter Labs launched on the Ethereum blockchain a beta version of zkSync second-level solution based on zkRollup technology with a throughput of 2000 transactions per second and an average transaction fee of $ 0.01.
Initially, zkRollup will increase scalability from the current 15 to 200 transactions, which is comparable to the bandwidth of the PayPal payment system. Over the next months, the startup plans to increase the data processing speed by ten times, which will put the sidechain capabilities on a par with the Visa payment system.
In the same dramatic way the average size of commissions will change from the current $ 0.2 to about $ 0.01. Currently, Ethereum users' monthly costs exceed $ 2 million.
Matter Labs developers also mentioned other distinctive features of zkRollup:
- commissions in the transferred token, and not in Ethereum gas;
- lack of costs when creating an account;
- transfers from the sidechain to any Ethereum address;
- instant confirmation of transactions and their completion within a few minutes;
- Withdrawing funds to the Ethereum core network in less than 15 minutes
- An intuitive interface that works with any Ethereum wallet.
In future versions, developers promise to add support for smart contracts, privacy features and anti-censorship
The main purpose of zkSync is to transfer ERC20 tokens . Users can connect existing Ethereum wallets to zkSync to deposit tokens into second-level wallets and conduct transactions with them.
ZkRollup is a hybrid scaling method that combines first and second level networks as well as evidence- based solutions with zero disclosure through smart contracts .
ZkRollup can contain thousands of transactions, which makes each of them significantly cheaper. Previous use cases for protocols such as Zcash (ZEC) and Loopring required repeated extensive multi-party trusted installations to integrate with new applications or updates.
Unlike other second-tier solutions, zkSync only requires a one-time trusted configuration, allowing you to apply updates and new features without losing the security benefits provided by the technology.
Recall OMG Network (OmiseGo) launched a beta test of OMG Network V1 solution for scaling the Ethereum network. Users are promised productivity in thousands of transactions per second and a reduction in their cost by 66%.
