Ethereum Users Cross the Chain to zkSync Era

On March 27th, according to the Web3 Knowledge Map Protocol 0xScope monitoring, since the opening of the main network of zkSync Era, more than 100000 addresses have crossed the chain of Ethereum to zkSync Era. As of now, the number of Ethereum across the chain to zkSync Era is about 15900, with a value of about $27.9 million. At the same time, the daily activity of zkSync Lite has significantly decreased with the opening of the main network of zkSync Era.

Data: More than 100000 addresses have cross linked Ethereum to zkSync Era

Table 1: Outline
1. Introduction
2. What is zkSync Era?
3. Ethereum Cross Chain Transactions
4. Meet the Demand for Scalable and Low-Cost Transactions
5. The Functionality of zkSync
6. zkSync Era vs. zkSync Lite
7. The Success of zkSync Era
8. Conclusion
Table 2: Article
# Ethereum Users Cross the Chain to zkSync Era
March 27th marked a significant milestone for the Web3 knowledge map protocol 0xScope monitoring, as over 100,000 addresses had crossed the Ethereum chain to the zkSync Era since its main network opened. Currently, the number of Ethereum cross-chain transactions on zkSync Era is approximately 15,900, with a total value of roughly $27.9 million. As a result, the daily activity of zkSync Lite has significantly decreased with the opening of zkSync Era’s primary network.

What is zkSync Era?

zkSync Era, built by Matter Labs, is a layer 2 scaling solution that is capable of processing thousands of transactions per second while still maintaining the low-cost fees of the Ethereum network. It utilizes zero-knowledge proofs to conduct off-chain transactions while maintaining Ethereum’s security.

Ethereum Cross-Chain Transactions

The Ethereum network has been presenting blockage issues for a while now due to its popularity and usage. As a result, users have been exploring alternatives, which includes cross-chain transactions. Cross-chain transactions allows users to conduct transactions on a separate blockchain without the involvement of a middleman.

Meet the Demand for Scalable and Low-Cost Transactions

One of the most significant challenges that cryptocurrencies face is the scalability issue, which hinders their adoption. By streamlining the transaction and verification process, zkSync Era meets the demand for scalable and low-cost transactions, providing a strong basis for mainstream adoption of cryptocurrencies.

The Functionality of zkSync

zkSync provides key features such as instant transactions, low transaction fees, and high scalability, making it an attractive alternative to the Ethereum network. It enables even small transactions to be processed affordably and efficiently.

zkSync Era vs. zkSync Lite

zkSync Lite is a functional demo of Matter Lab’s original zkSync project, which enables developers to experiment with the technology without committing to the main network. While it served as a valuable testing ground for the team, with the opening of the zkSync Era network, it has now become obsolete.

The Success of zkSync Era

The number of Ethereum cross-chain transactions on the zkSync Era network conveys how successful the project has been in delivering a valid solution for Ethereum’s scalability issues. There is a constant increase in the number of addresses crossing the chain, which indicates the trust of users in the new technology.

Conclusion

The opening of the zkSync Era main network marks a significant step towards the wider adoption of cryptocurrencies. Scalability issues have always been the primary issue with blockchain technology, and the zkSync Era network tackles that problem head-on. Its ability to process thousands of transactions per second while providing an affordable and efficient low-cost solution can attract the mainstream population towards cryptocurrencies.

FAQs

1. What is Ethereum cross-chain technology?
Ethereum cross-chain transactions refer to the process of conducting transactions on a blockchain different from Ethereum’s network without a middleman’s involvement.
2. Can users still use the zkSync Lite network now that zkSync Era is online?
The zkSync Lite network served as a testing ground and exploratory tool for the project developers. With the opening of zkSync Era’s primary network, zkSync Lite is now obsolete.
3. What are the benefits of the zkSync Era network?
The zkSync Era network provides instant transactions, low transaction fees, and high scalability. It enables even small transactions to be processed affordably and efficiently.