ZK Sync is a Layer 2 solution that improves the Ethereum blockchain by increasing transaction speed and lowering costs, while keeping the original security and decentralization.
Description
Here's a simple explanation:
- ZK Rollup: ZK Sync uses a method called ZK rollup. It processes transactions off-chain (outside the main Ethereum network) and stores most data off-chain too. But it still proves all transactions on the Ethereum mainchain, so it's as secure as Ethereum.
- Zero-Knowledge Proofs: It uses zero-knowledge proofs (ZKPs) to bundle many transactions into one. This means more transactions can happen quickly and cheaply on Ethereum.
- Validators and Guardians: There are two important roles:
- Validators: They bundle transactions and create zero-knowledge proofs.
- Guardians: They watch the network to prevent bad behavior and ensure decentralization.
- Focus on Programmability and Privacy: ZK Sync uses RedShift, a technology for creating ZK circuits, and Zinc, a programming framework for smart contracts. This makes it easier for developers to build secure and efficient programs.
In summary, ZK Sync is designed to make Ethereum faster and cheaper without losing its security. It's a user-friendly solution for better scalability, security, and development on Ethereum.
Team of the Project
Alex Gluchowski
CEO
Alex Gluchowski is the Co-Founder & CEO of Matter Labs - a software engineer with over 17 years of experience.
Starting as a Junior Software Developer, he advanced to leadership roles, including Head of Software Engineering at Clarity AG and CTO roles at ExpoGlobus.com and Somuchmore GmbH.
Funding
$200,000,000
$200,000,000
Ecosystem Fund
Backed by BitDAO.
$200,000,000
$200,000,000
Series C
Led by Blockchain Capital, Dragonfly, Variant , Lightspeed Venture Partners , Andreessen Horowitz.
$50,000,000
$50,000,000
Series B
Led by Andreessen Horowitz , 1kx , Wintermute, Placeholder.
$6,000,000
$6,000,000
Series A
Led by Union Square Ventures , Andreessen Horowitz ,Dragonfly, 1kx, Placeholder.
$2,000,000
$2,000,000
Matter Labs Seed round
Led by Placeholder, Hashed,Dragonfly,1kx,Dekrypt Capital.