Multichain and zkSync Era: Enabling the Cross-Chain of USDC and ETH

According to reports, according to official Twitter, the cross chain routing protocol Multichain announced that it supports assets such as USDC and ETH to cross chain to zkSync Era. At the same time, crossing into zkSync Era is free of handling fees and only charges $0.9 Gas Fee.

Multichain supports cross chain transactions to zkSync Era, with a cross chain transaction value exceeding $2 million

In recent times, the crypto space has witnessed an upsurge in the adoption of decentralized finance (DeFi) applications, especially in the Ethereum ecosystem. However, with the growing demand for scalability and interoperability solutions, the need for cross-chain protocols like Multichain has become more apparent.

What is Multichain?

Multichain is an innovative cross-chain routing protocol that enables users to transfer assets and data across multiple blockchain networks. The project employs a unique sharding mechanism that facilitates interoperability between various blockchain protocols. It is a highly scalable, secure, and trustless protocol that enhances the efficiency and flexibility of the DeFi ecosystem.

Multichain Supports the Cross-Chain of USDC and ETH to zkSync

Recently, Multichain announced on Twitter that its protocol now supports the cross-chain transfer of assets like USDC and ETH onto zkSync Era without handling fees. This development is significant for the DeFi space, as it enables users to transfer their cryptocurrencies across various blockchain networks and protocols seamlessly.
zkSync Era is a Layer 2 scaling solution for Ethereum that enhances the network speed, TPS (transactions per second), and reduces gas fees for users. It is built on zero-knowledge proofs and enables fast and cheap transfers of Ethereum assets. Therefore, the integration of Multichain with zkSync Era provides users with an enhanced DeFi experience, improving accessibility, speed, and cost-efficiency.

How to Cross-Chain Assets to zkSync Era

The process of cross-chain asset transfer to zkSync Era is straightforward and user-friendly, requiring minimal effort and time. First, the user needs to select the asset they want to transfer and the network they are currently on. They then proceed to select the recipient network (zkSync Era) and provide the wallet address of the recipient.
After confirming the details, the user pays a minimal gas fee ($0.9) to cover the transaction processing costs. Once the transaction is confirmed, the asset is transferred to the specified network seamlessly. This process is fast, secure and does not involve any intermediaries, ensuring full control and flexibility for the user.

Benefits of Multichain and zkSync Era Integration

The integration of Multichain and zkSync Era provides several benefits to users and developers in the DeFi ecosystem. First, it enables seamless cross-chain asset transfer, without intermediaries or handling fees, reducing the transaction costs and increasing the efficiency of the process.
Second, it enhances the scalability of the DeFi ecosystem, improving network speed, and TPS, enabling more users and dApps to utilize the platform. This development is significant for the DeFi community, as it promotes wider adoption, attracts more users and investors, and strengthens the ecosystem’s resilience.

Conclusion

In summary, Multichain’s integration with zkSync Era provides users with an enhanced DeFi experience, promoting scalability, interoperability, and cost-efficiency. The cross-chain transfer of USDC and ETH assets onto zkSync Era is fast, secure and does not involve intermediaries or handling fees, enhancing accessibility and flexibility. This development is significant for the DeFi space, as it promotes wider adoption, attracts more users, and strengthens the ecosystem’s resilience.

FAQs

1. What is the Multichain protocol, and how does it work?
Multichain is a cross-chain routing protocol that enables users to transfer assets and data across various blockchain networks. It employs a sharding mechanism that enhances the interoperability and efficiency of the DeFi ecosystem.
2. What is zkSync Era, and how does it improve the DeFi experience?
zkSync Era is a Layer 2 scaling solution for Ethereum that enhances network speed, TPS and reduces gas fees. It is built on zero-knowledge proofs and enables fast and cheap transfers of Ethereum assets, improving accessibility and cost-efficiency.
3. How does the cross-chain asset transfer process work on Multichain?
The process of cross-chain asset transfer on Multichain is straightforward and user-friendly. Users select the asset to transfer and the network they are currently on and select the recipient network (zkSync Era). They pay a minimal gas fee to cover transaction processing costs and confirm full control and flexibility over the process.