zkSync is a Layer 2 solution for Ethereum that utilizes zero-knowledge rollups (zk-Rollups). Here are some advantages of zkSync compared to other Layer 2 solutions and its potential future developments, explained in 10 sentences:
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Cost Efficiency: zkSync significantly reduces transaction costs by compressing many transactions into a single cryptographic proof uploaded to Layer 1.
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High Security: Using zero-knowledge proofs ensures the security and integrity of data, making it very difficult to manipulate.
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Transaction Speed: Transactions on zkSync are processed much faster than on Layer 1, as verification is done off-chain and only validity proofs are uploaded to the Ethereum mainnet.
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Ethereum Compatibility: zkSync is fully compatible with the Ethereum Virtual Machine (EVM), allowing existing Ethereum dApps to be easily ported.
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Decentralization: Despite operating on Layer 2, zkSync maintains Ethereum’s decentralized nature, as it doesn't require centralized validators to confirm transactions.
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Scalability: zkSync can increase transaction capacity to thousands of transactions per second (TPS), which is much higher than Ethereum Layer 1.
