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Matter Labs has announced the launch of the first-ever permissionless zkEVM mainnet, called zkSync Era. On Friday, the zkSync Era will move into the public alpha phase as early as 10:00 am ET.
A New Scaling Solution
The newest Ethereum scaling solution to reach the public mainnet stage, zkSync Era, will go live on Friday. zkSync Era was launched exclusively for developers just last month, with the project taking the next step and opening the platform for general users. Previously known as zkSync 2.0, Era was rebranded to zkSync Era last month as well.
The zkSync Era code is also completely open source, which the team sees as a considerable difference maker.
Zk-rollups refer to a type of blockchain scaling system that is based on zero-knowledge proofs. In the case of zkEVM, they are a special type of zk rollups that are compatible with the Ethereum Virtual Machine (EVM), making it easier for developers already familiar with the EVM ecosystem to design or reconfigure applications. While developers have been working with zk rollups for years, one has not been available for users that features EVM compatibility.
Host Of Projects Show Interest
Several notable projects are already live on zkSync Era. These include DeFi Ethereum wallet Argent, and a fractional algorithmic stablecoin, Frax, along with Pyth, an oracle network. Additionally, several Ethereum-based projects, such as 1inch, decentralized exchange Uniswap, and self-custodial wallet MetaMask, have all expressed interest in the project. Users will also be able to bridge funds from Ethereum by using wallets such as MetaMask.
“Use zkSync Era Users can now bridge funds & experience dapps built on zkSync Era.”
Developers who are familiar with Solidity, Vyper, and Yui programming languages can easily compile code for zkSync Era through the use of LLVM. Compilers such as LLVM convert smart contracts into instructions that the blockchain can interpret. Matter Labs still has to run security audits and will form a Security Council in due course to perform any emergency updates. However, the company has advised users not to risk a significant amount of funds, stating that this is just the alpha network.
Gluchowski believes that zkSync Era would have over 200 projects ready to be deployed, believing that a key differentiator would be native account abstraction, allowing users to have a far more user-friendly experience.
The zkEVM Wars
There has been considerable competition between developers to be the first in the market to come out with a zkEVM. Ethereum scaling solution Polygon had recently announced plans to launch its own zkEVM live as recently, with its equivalent offering set to go live on Monday, the 27th of March. According to Alex Gluchowski, the co-founder of Matter Labs, the timing of the zkSync Era announcement was simply a coincidence and that the company was following a set schedule following the completion of a second public security contest. He also added that the testing of the product has been quite extensive, stating,
“Now we feel completely safe to launch. You really need this layered approach to security,” Gluchowski said, adding, “Now we feel comfortable, but I mean, it’s still Alpha — people have to understand it’s still brand new technology.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.