What is zkSync

zkSync is a ZK-Rollup Layer 2 blockchain built on Ethereum by Matter Labs — designed to deliver Ethereum-equivalent smart contract functionality at orders-of-magnitude lower cost and higher throughput using zero-knowledge cryptography. It is one of the most used Layer 2 networks and represents a major advance in practical ZK-EVM technology. THE EVOLUTION OF ZKSYNC zkSync Lite (zkSync 1.0, 2020): Payments and token transfers only. No smart contracts. Demonstrated that ZK-Rollups could achieve production-scale performance for simple transfers. zkSync Era (zkSync 2.0, 2023): Full EVM compatibility via LLVM-based compiler. Supports arbitrary smart contracts — developers can deploy existing Solidity code with minimal modification. Native account abstraction (smart contract wallets by default). PLONKY2-based ZK proof system. KEY TECHNICAL FEATURES EVM Compatibility: zkSync Era uses a custom zkEVM that compiles Solidity and Vyper code into circuits provable by its ZK proof system. Existing Ethereum dApps can be deployed with minor modifications. Account Abstraction: All accounts in zkSync Era are smart contracts by default — enabling paymasters (third parties paying gas fees for users), multi-sig wallets natively, and social recovery without special setup. Hyperchains: zkSync's modular architecture allows other chains to be built as zkSync-based "hyperchains" sharing the same proving system and bridging infrastructure. THE ZK TOKEN AND AIRDROP Matter Labs launched the ZK governance token in June 2024 — one of the most anticipated token launches in crypto. The airdrop distributed 17.5% of total supply to community members based on historical usage metrics. ZK is used for: governance of the ZKsync protocol, paying transaction fees (alongside ETH), and participating in protocol governance decisions. THE ZKSYNC ECOSYSTEM Major DeFi protocols: SyncSwap, Mute.io, Maverick Protocol. NFT infrastructure: Tevaera, ZKMarkets. Gaming and consumer apps benefit from zkSync's low fees and fast finality. The ecosystem received significant venture capital backing and developer grants from Matter Labs.

Terms in addition to the zkSync

Blockchain

A blockchain is a subset of a distributed database. The Bitcoin inventors originally prototyped the system in 2008. This modern database is made up of separate blocks that are connected together in a chronological chain. Blockchains may be used to store a wide range of data types. It has mostly been utilized as a public ledger for bitcoin transactions to date. A peer-to-peer network comprised of independent nodes uses a consensus process to ensure the blockchain's security and legitimacy. Each node in the network keeps a public and immutable copy of the data.

2 Factor Authentication (2FA)

2 Factor Authentication is a security measure with two layers. It is used by the majority of cryptocurrency exchanges. To log in, you must provide not only a password, but also a code obtained, for example, from the Google authenticator.

Airdrop

An airdrop is a method of distributing coins. End users can typically obtain coins for free or in exchange for doing a small task, such as subscribing to a newsletter, sending a tweet, or inviting others via a personal affiliate link. Cryptocurrency airdrops — the act of depositing cryptocurrency into public crypto wallets — are utilized as a marketing, liquidity creation, and network bootstrapping technique for many different types of blockchain initiatives.

Altcoin

Altcoin - "alternative coin" - is any kind of digital currency other than Bitcoin. Since the launch of Bitcoin, the world's first digital currency, many altcoins (as well as supporting blockchains) have been created. Altcoin digital currencies share many similarities to Bitcoin, but consistently and have significant differences. There are about 20,000 altcoins, and this number is expected to grow significantly in the coming years. Altcoins often develop Bitcoin features. Ethereum, currently the most widely used blockchain, supports digital contracts and separate applications where Bitcoin does not. Altcoins are also often created to cater to the needs of different users. The Litecoin blockchain, for example, can process payments quarterly for the duration of Bitcoin.

Cold Storage

Cold storage is the way to store cryptocurrency offline. The word refers to the use of offline wallets that are not connected to the internet. Cold storage is the most secure way to keep cryptocurrencies since an offline currency becomes less likely to be hacked and stolen. Paper wallets, printed renditions of private keys, and offline hardware and software wallets are all examples of cold storage.