1inch Network Integrates ZKsync to Boost Ethereum Transactions

You can also read this news on COINTURK NEWS: 1inch Network Integrates ZKsync to Boost Ethereum Transactions

1inch Network has integrated ZKsync, a second-layer scaling solution developed for Ethereum . This integration aims to facilitate faster and lower-cost transactions across different networks.

Details of the Integration

The new integration allows users to seamlessly conduct cross-network transactions. 1inch reported that it achieved significant transaction volumes with its “Fusion+” technology, which was launched in beta last September.

“We expect an increase in transaction volume due to trust-based, bridge-less transactions on ZKsync Era.” – Sergej Kunz, Co-Founder of 1inch

The fact that transaction fees are not borne by users is made possible through system actors, known as resolvers, staking 1INCH tokens. This situation aims to generate solutions that provide competitive rates for users.

Technology and Future Vision

ZKsync is built using zero-knowledge technology. The platform offers a scalable alternative that maintains the security of the Ethereum mainnet while providing lower transaction fees and increased speed.

Additionally, ZKsync’s roadmap includes a target of processing 10,000 transactions per second and initiatives to eliminate transaction fees in the future. These developments could support the adoption of the technology and encourage broader user participation.

“Lower fees, faster transaction certainty, and increased security can attract both experienced and new users to the market.” – Sergej Kunz, Co-Founder of 1inch

Swiss-based UBS has entered the testing phase for ZKsync technology for one of its gold-backed financial products. This application could pave the way for new interactions between traditional finance and digital asset management.

The deployment of this integration indicates potential reductions in transaction costs and increases in speed, suggesting a promising enhancement in market participation and liquidity. Technological advancements may provide various solution alternatives in finance and digital assets.

The post 1inch Network Integrates ZKsync to Boost Ethereum Transactions appeared first on COINTURK NEWS.