The Rising Performance of zkSync Era

04/07/2023 14:44 • Digital Disruptors • 151 views

According to reports, according to zkSync Era’s on chain data, the current number of submitted blocks has exceeded 1 million, reaching 1001636 at the time of writing. Among them, the number of verified blocks is 932956, and the total number of on chain transactions reaches 5104679. According to data from l2beat, the lockdown volume of zkSync Era was $156 million, an increase of 98.52%.

Data: zkSync Era submitted over 1 million blocks

Introduction

zkSync Era’s on-chain data shows that the number of submitted blocks has surpassed 1 million, reaching 1001636 at the time of writing. Verified transactions number around 932956, pointing to the network’s reliability. With the total number of on-chain transactions reaching 5104679, we see a steady increase in the platform’s activity.

What is zkSync Era?

zkSync Era is a layer 2 scaling solution aimed at improving Ethereum’s scalability. Based on zero-knowledge technology, it enables secure, fast, and cost-effective transactions on the Ethereum network. The platform allows users to process more than 300 transactions per second, which is about 100 times faster than the current rate on the Ethereum network.

Growing Traction on zkSync Era

Data from l2beat shows that there has been a surge in the volume of zkSync Era transactions. The data depicts a remarkable increase in liquidity, recording $156 million lockup volumes, which is ultimately a 98.52% increase. Furthermore, zkSync Era recorded a network capacity of 450, which is the highest among other Ethereum scaling networks or sidechains.

Advantages of zkSync Era

zkSync Era’s user base continues to rise because of the following advantages:

Speed

The platform’s zero-knowledge technology ensures fast and cost-effective transactions. It allows users to achieve transactions at an incredible speed of 300 per second, making it among the fastest Ethereum scaling solutions.

Reliability

zkSync’s Era’s high-performance and security features set it apart from other Ethereum scaling solutions. Its verification process ensures that transactions on the platform are tamper-proof and secure.

Cost-effective

Processing transactions on Ethereum’s main network comes with high gas fees, which significantly increases the cost of transactions. However, with zkSync Era, users can make transactions at an almost negligible cost. This low transaction fee has attracted more users to the platform, making it the go-to solution for many.

Easy to Use

The platform’s intuitive interface means that new users can quickly get started without a steep learning curve. The instructions are simple, and the platform is user-friendly, making it an attractive option for new users.

Conclusion

With its impressive on-chain data, increasing transaction volume, and growing user community, zkSync Era is set to become a significant player in the Ethereum scaling space. Its speed, reliability, cost-effective transactions, and user-friendliness have made it very popular among users. As the platform continues to grow, we can expect even more exciting developments from zkSync Era.

FAQs

1. What is zkSync Era, and how is it helpful?

zkSync Era is a layer 2 scaling solution aimed at improving Ethereum’s scalability. Based on zero-knowledge technology, it enables secure, fast, and cost-effective transactions on the Ethereum network. Its benefits include speed, reliability, cost-effectiveness, and ease of use.

2. How does zkSync Era measure up against other Ethereum scaling solutions?

zkSync Era’s network capacity of 450 makes it the highest among other Ethereum scaling networks or sidechains. With its speed, reliability, and cost-effectiveness, it is a significant player in the Ethereum scaling space.

3. What is the impact of zkSync Era on the future of Ethereum?

As Ethereum’s user base continues to expand, the platform’s scalability becomes more important. With zkSync Era’s impressive performance, it has the potential to become a key player in helping Ethereum achieve its scalability goals.

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