{"id":204993,"date":"2021-11-18T11:00:43","date_gmt":"2021-11-18T11:00:43","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=204993"},"modified":"2021-11-18T05:35:58","modified_gmt":"2021-11-18T05:35:58","slug":"new-zksync-sidechain-brings-privacy-and-decentralization-at-a-few-cents-to-ethereum-users","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/new-zksync-sidechain-brings-privacy-and-decentralization-at-a-few-cents-to-ethereum-users\/","title":{"rendered":"New zkSync sidechain brings privacy and decentralization at a few cents to Ethereum users"},"content":{"rendered":"

The Ethereum (<\/span>ETH<\/span><\/a>) scaling solution zkSync 2.0 was developed by combining the EVM-compatible zkRollup and zkPorter, an off-chain data availability system, dubbed as \u201cthe engine for mass crypto adoption.\u201d<\/span><\/p>\n

Because the two are interoperable and composable, contracts and accounts on the zkRollup side are able to seamlessly interact with accounts on the zkPorter side and vice versa.\u00a0<\/span><\/p>\n

1-3 cent transaction fees\u00a0<\/strong><\/h2>\n

ZK rollup is an L2 solution for increased scalability that, in short, bundles, or \u201crolls-up,\u201d hundreds of transfers into a single transaction. Each batch generates a cryptographic proof, a so-called ZK-SNARK, that gets posted on L1.<\/span><\/p>\n

Meanwhile, an off-chain data availability system, zkPorter, allows two orders of magnitude more scalability than rollups.<\/span><\/p>\n

The data availability of zkPorter accounts is secured by the so-called Guardians, who participate in proof of stake (PoS) with the zkSync token.\u00a0<\/span><\/p>\n

Besides leveraging \u201ccryptoeconomic guarantees of the data availability,\u201d PoS in zkSync also brings a high level of security, with Guardians only being able to freeze the zkPorter state, but without power to steal funds. In such a scenario, zkRollup users will remain able to withdraw their funds.<\/span><\/p>\n

Users can choose between the two security thresholds. Those who prefer all data available on-chain can opt to stay on the rollup side, while exponentially cheaper fees may attract fee-sensitive users and vigorous traders on the zkPorter side of the state.\u00a0\u00a0<\/span><\/p>\n

\n

zkPorter by @zkSync<\/a> offers 1-3 cent transaction fees, yet is magnitudes more secure and decentralized than any other L1 or sidechain. <\/p>\n

Why? ELI5, in 5 tweets! <\/p>\n

\u2b07\ufe0f\u2b07\ufe0f\u2b07\ufe0f<\/p>\n

— angelfish.eth (@0xangelfish) November 16, 2021<\/a><\/p><\/blockquote>\n