zkSync Counters Polygon With ‘Mainnet’ Rollup

Layer 2s Escalate Battle to Rule Ethereum Scaling Solutions

That didn’t take lengthy.

A day after Polygon launched a zero-knowledge-based scaling answer for Ethereum, zkSync opened up registrations for builders to deploy functions to its blockchain-based platform, referred to as a “mainnet.”

zkSync, one of the vital well-known tasks within the zero-knowledge rollup house, stated it isn’t a full-blown launch — builders should register their blockchain addresses earlier than they will deploy code. 

Ethereum Race

Yet the transfer escalates the competition between two of essentially the most dynamic Layer 2 blockchain networks within the race to ramp up Ethereum’s capacity to help decentralized transactions. It additionally demonstrates how zero-knowledge know-how is quickly reshaping the way in which customers could work together with the No. 2 cryptocurrency community and its good contract capabilities.

On Tuesday, Polygon stated its zero-knowledge answer would go reside on Mar. 27. 

So far, no zero-knowledge rollup has gained the higher hand within the Ethereum scaling problem. This kind of ZK-rollup is named a zkEVM. 

It’s a extremely aggressive market. ZK-rollups are competing with Optimistic rollups, one other know-how whose two most important implementations, Optimism and Arbitrum, dominate the Layer 2 house with over 80% market share, in keeping with L2BEAT.

Stephen Goldfeder, Arbitrum’s co-founder, has lately been turning up the warmth on ZK-rollups by questioning their superiority to Optimistic methods. 

“There’s a narrative out there that ZK Rollups will be able to do everything that Optimistic Rollups do but better,” he stated on Twitter final month, earlier than diving into methods wherein the EVM, the algorithm which dictate how the Ethereum blockchain processes transactions, may be expanded on. 

Taking Heat

Goldfeder mentioned a brand new providing which he stated would offer much more helpful performance than EVM-compatible methods, in an interview with The Defiant earlier this month. 

zkSync has taken some warmth earlier than for one more announcement concerning its system. On Oct. 28, the challenge launched a mainnet open solely to its personal builders. This meant that no exterior tasks had been reside on the community, bringing into query whether or not the announcement wanted to be made in any respect. 

Ecosystem Fund

Despite some criticism, zkSync has picked up momentum. Holders of UNI, the token of Uniswap, DeFi’s largest decentralized alternate by quantity, voted to deploy the protocol to zkSync’s answer, when it goes reside, again in October. 

Matter Labs has raised a complete of $258M, in keeping with Crunchbase. The firm additionally has raised one other $200M to develop an “ecosystem fund,” to foster adoption of zkEVM. 

StarkWare, a key competitor with zkSync and different options, raised $100M at an $8B valuation in May regardless of not having launched an open mainnet.