zkSync Unveils Significant Milestones in First Year

zkSync Unveils Significant Milestones in First Year

zkSync Unveils Significant Milestones in First Year

zkSync Era, an Ethereum Layer-2 scaling protocol has celebrated its first anniversary with significant achievements.

The Ethereum Layer-2 scaling protocol zkSync Era has celebrated its first anniversary by showcasing a number of significant achievements it has made in the year since it started competing in the fiercely competitive L2 sector.

Launched on March 24, 2023, the protocol highlighted its innovations on the X platform. One of these innovations is the shipping of the ZK Stack, which is a modular framework for creating sovereign hyperchains.

The zkSync Era Growth Highlight

Over the past year, zkSync Era has implemented the Boojum Proof System to assist its validators in reducing the required hardware. This is due to the fact that Layer-2 scaling solutions aim to help manage transaction throughput, especially since Ethereum often struggles with this aspect.

The Transaction Per Second (TPS) reached a significant high of 188 during the Inscription Event in 2023, marking one of the major performance highlights.

In addition, zkSync hosted the largest Code4rena audit competition, which brought in more than $1.1 million. Data from the analytics platform L2Beat currently ranks zkSync Era as the third most performant L2.

It has an average TPS of 16.23, an increase of 16.94% in the trailing seven-day period. For the past thirty days, zkSync Era has logged 37.77 million transactions.

The Ethereum L2 has emerged as one of the most significant beneficiaries of the recently implemented Ethereum Dencun Upgrade.

The protocol introduced transaction rates as low as one penny, making the protocol generally more accessible than it was a year earlier.

The protocol has outlined the next main goal, which is to entirely focus on the Zero Knowledge (ZK) component of its mission. This is important because it lets the company concentrate on what is essential.

A variety of protocols, each utilizing a distinct technology, can scale Ethereum. Some L2s such as Arbitrum and Optimism, use the Optimistic Rollup technology stack, in contrast to the zkSync Era, which is primarily concerned with utilizing the Zero Knowledge paradigm.

The Code4rena audit competition is an excellent example of how zkSync has had to develop and provide opportunities for community building to maintain its relevance as a viable L2 platform.

There have been some collaborations that zkSync has had to sign throughout the past year because it is building for a broader audience.

It showcases the versatility of its application by harnessing the power of the Blockchain Digital ID innovation, which the City of Buenos Aires in Argentina has recently implemented.

Even though the zkSync protocol has not yet introduced its native currency, the majority of the developments that it is powering highlight the possibilities of Ethereum, which is resulting in a positive impact on the price of the coin. 

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