zkSync 2.0 is a ZK Rollup, the only type of scaling solution that fully inherits the security of the L1. It scales computation using zero knowledge proofs: one node runs the computation of transactions and produces a proof, and all other nodes verify it trustlessly, which is a lot less work.
Some data about transactions is posted on Ethereum in order to enable the reconstruction of the state of the zkSync network and production of new blocks. Because Ethereum’s resources are expensive, zkSync created zkPorter, an extension where this data is posted off-chain and secured by token stakers using PoS. This enables 1–3 cent transaction fees, yet still magnitudes more security and decentralization than any other L1 or sidechain.
The power of zkSync 2.0 is in the interoperability and composability of the zkRollup and zkPorter, where Uniswap can deploy on the zkRollup for full Ethereum security, yet zkPorter users can swap for 1–3 cents. This is a game changer because this enables zkSync 2.0 to support all use cases and all types of users under one system. And it’s EVM-compatible, powered by the zkEVM!
Developers can pull zkSync mainnet data by accessing the network via the unified API and changing the chainId parameter. Examples of available blockchain data include:
- Token balances per address
- Historical transactions per address
- Historical prices by address and ticker symbol
- Decoded log events
Matter Labs is excited to take this first step in elevating the zkSync developer experience!
“Matter Labs has an ambitious vision — scale Ethereum using zero knowledge proofs. It’s exciting to watch this team execute over the past year. With Solidity support inside a zero knowledge rollup, it’s the most compelling solution available to developers today. Covalent is happy to build into the zkSync ecosystem and bring the richest indexing and query system available today.” says Ganesh Swami, CEO of Covalent.
About Covalent
Covalent leverages big-data technologies to create meaning from hundreds of billions of data points, delivering actionable insights to investors and allowing developers to allocate resources to higher-utility goals within their organization. Instead of pain-stakingly sourcing data from a small handful of chains, Covalent aggregates information from across dozens of sources including nodes, chains and data feeds. The Covalent API then sources end users with individualized data by wallet, including current and historical investment performance across all types of digital assets. Most importantly, Covalent returns this data in a rapid and consistent manner, incorporating all relevant data within one API interface.
About zkSync Protocol
zkSync is a ZK rollup, a Layer-2 scaling solution that preserves the security properties of the underlying blockchain by leveraging the latest generation of succinct zero-knowledge proofs.
About Matter Labs
Matter Labs is the pioneer of Zero-Knowledge Proof technology on Ethereum. The company has launched the first-ever public ZK rollup prototype in early 2019, was the first to implement recursive ZK proofs on Ethereum, and created the world’s first practical FPGA-based hardware for ZKP acceleration in 2020. Matter Labs recently launched a zkEVM testnet, making zkSync the first ZK rollup capable of executing native Ethereum smart contracts.
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