zkSync

Ethereum, a leading blockchain platform, faces significant challenges in scalability and transaction costs. zkSync, developed by Matter Labs, emerges as a groundbreaking solution to these issues, leveraging zero-knowledge rollups (zk rollups) to enhance Ethereum's performance without compromising its security or decentralization. This article delves into zkSync's development, technical innovations, user adoption, financial performance, and its broader market implications.<h2 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;" dir="ltr">The Need for zkSync</h2>Ethereum's popularity has led to network congestion, high transaction fees, and slower processing times. These issues hinder its ability to support large-scale applications, prompting the need for effective scaling solutions. zkSync addresses these challenges by moving the bulk of transaction processing off the main Ethereum chain, significantly improving efficiency.<h2 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;" dir="ltr">What is zkSync?</h2>zkSync is a layer 2 scaling solution that utilizes zero-knowledge rollup technology. Unlike traditional methods that process every transaction on the main chain, zk rollups bundle hundreds of transactions off-chain and generate cryptographic proofs to verify their validity. These proofs are then posted on the Ethereum main chain, ensuring security while drastically reducing the data load and associated costs.<h3 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;" dir="ltr">Key Innovations of zkSync</h3><ol style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:11pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:decimal;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Zero-Knowledge Proofs: zkSync uses zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge), a type of cryptographic proof that allows one party to prove to another that a statement is true without revealing any additional information. This ensures transaction privacy and security.</li><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:11pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:decimal;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Scalability: By processing transactions off-chain, zkSync can handle thousands of transactions per second (TPS), compared to Ethereum's current capacity of around 15 TPS. This scalability is crucial for supporting decentralized applications (dApps) and decentralized finance (DeFi) protocols.</li><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:11pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:decimal;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Lower Transaction Costs: zkSync significantly reduces gas fees, making transactions more affordable. This is achieved by minimizing the data posted on the Ethereum main chain, which lowers the cost per transaction.</li><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:11pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:decimal;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Instant Transactions: Transactions on zkSync are confirmed almost instantly, enhancing user experience and making the network more practical for everyday use.</li></ol><h3 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;" dir="ltr">Development and Progress</h3>Since its inception in 2019, zkSync has made substantial strides. The project is spearheaded by Matter Labs, under the leadership of CEO and Co-Founder Alex Gluchowski. zkSync's first prototype was launched in the same year, followed by multiple iterations, rigorous testing, and security audits. The zkSync mainnet officially launched on March 24, 2023, and has rapidly gained traction, becoming one of the fastest-growing Ethereum rollups.<img src="https://static.bitrue.com/bitrue-cms/upload/image1_0e0b011447.png" alt="image1.png" srcset="https://static.bitrue.com/bitrue-cms/upload/thumbnail_image1_0e0b011447.png 245w,https://static.bitrue.com/bitrue-cms/upload/small_image1_0e0b011447.png 500w,https://static.bitrue.com/bitrue-cms/upload/medium_image1_0e0b011447.png 750w,https://static.bitrue.com/bitrue-cms/upload/large_image1_0e0b011447.png 1000w," sizes="100vw" width="1999" height="823"><h3 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;" dir="ltr">Adoption and Ecosystem</h3>zkSync has seen impressive adoption metrics, outperforming competitors like Arbitrum, Optimism, and Starknet in terms of transaction counts and active users. It has attracted a vibrant ecosystem of projects and developers, with significant activity in decentralized exchanges (DEXs), lending platforms, and other DeFi applications.<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:11pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">SyncSwap: A leading DEX on zkSync, SyncSwap has locked $52.54 million in value and handles daily trading volumes between $60-80 million.</li><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:11pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">zkSync Name Service: This service offers human-readable wallet addresses, similar to the Ethereum Name Service, enhancing usability and user experience.</li></ul><img src="https://static.bitrue.com/bitrue-cms/upload/image2_e152fcb71a.png" alt="image2.png" srcset="https://static.bitrue.com/bitrue-cms/upload/thumbnail_image2_e152fcb71a.png 241w,https://static.bitrue.com/bitrue-cms/upload/small_image2_e152fcb71a.png 500w,https://static.bitrue.com/bitrue-cms/upload/medium_image2_e152fcb71a.png 750w,https://static.bitrue.com/bitrue-cms/upload/large_image2_e152fcb71a.png 1000w," sizes="100vw" width="1820" height="1178"><h3 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr">​​Utility and Tokenomics of ZK Token</h3>The ZK token, the native utility and governance token of the zkSync ecosystem, is primarily used to pay for transaction fees on the zkSync network. This allows users to benefit from lower costs compared to the main Ethereum network, thanks to zkSync’s efficient Layer 2 solution. The total supply of ZK tokens is 21 billion, distributed as follows: 29.3% for Token Assembly, 19.9% for Ecosystem Initiatives, 17.5% for Airdrops, 17.2% for Investors, and 16.1% for the Team.<h2 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;" dir="ltr">Conclusion</h2>zkSync represents a significant advancement in Ethereum scalability, offering a practical and efficient solution to the network's current limitations. With its innovative use of zero-knowledge rollups, strong developer activity, and growing user base, zkSync is poised to play a crucial role in the future of decentralized applications and finance. As the platform continues to evolve and its token is introduced, zkSync's impact on the Ethereum ecosystem and the broader blockchain landscape is expected to grow significantly.<h2 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;" dir="ltr">Website and Social Media</h2>Website:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://zksync.io/">https://zksync.io/</a>&nbsp;Social media:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://twitter.com/zksync">https://twitter.com/zksync</a>&nbsp;

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Ethereum, a leading blockchain platform, faces significant challenges in scalability and transaction costs. zkSync, developed by Matter Labs, emerges as a groundbreaking solution to these issues, leveraging zero-knowledge rollups (zk rollups) to enhance Ethereum's performance without compromising its security or decentralization. This article delves into zkSync's development, technical innovations, user adoption, financial performance, and its broader market implications.

zkSync (ZK): Transforming Ethereum Scalability with Zero-Knowledge Rollups

The cryptocurrency market's recent correction has notably affected the valuations of Notcoin (NOT) and zkSync (ZK) tokens, with both experiencing significant drops in price amid overall market fluctuations. This analysis delves into the specific impacts on these tokens and their potential paths forward, informed by recent trading data and market reactions.Read More:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/how-to-buy/NOT">How to Buy Notcoin (NOT)</a>&nbsp;<h3 style="line-height:1.38;margin-bottom:2pt;margin-top:12pt;text-align:justify;" dir="ltr">Key Takeaways:</h3><ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:11pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Significant Price Drops: Notcoin and zkSync tokens have seen substantial declines, with NOT&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://twitter.com/W3Vibes/status/1802627837670645904?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1802627837670645904%7Ctwgr%5E0e36349d722a2a287f3d3e0c48c28e8925a666ad%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fcoinedition.com%2Fnotcoin-and-zksync-tokens-plunge-amid-market-correction%2F">falling</a> 13% and ZK dropping 16% in the last 24 hours.</li><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:11pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Market Resilience and Recovery Potential: Despite the declines, indicators like the Relative Strength Index (RSI) suggest there might still be buying interest, hinting at potential market resilience and recovery.</li><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:11pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">High Trading Volume Amidst Sell-offs: The market witnessed high trading volumes for ZK following a sell-off by a significant portion of top wallet holders, indicating active market participation.</li></ul><h2 style="line-height:1.38;margin-bottom:4pt;margin-top:18pt;text-align:justify;" dir="ltr">NOT Price Action and Market Response</h2>Despite the recent downturn, Notcoin (NOT) has seen a surge of 130% over the last month, though it recently underwent a significant three-day sell-off, bringing its price down to $0.01582. This correction has moved NOT’s market capitalization to $1.61 billion, positioning it just outside the top 50 cryptocurrencies. Currently, NOT is trading 45% below its peak of $0.02896, which was reached shortly after its listing on Binance. However, with an RSI of 51.43, there is sustained buying interest, keeping NOT bullish on the RSI spectrum. This situation aligns with analysts' predictions following its rapid increase in value.Read More:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/blog/Notcoin-NOT-Defies-Market-Downturn-Soars-40-in-24-Hours-But-Faces-Overbought-Concerns">Notcoin (NOT) Defies Market Downturn</a><h2 style="line-height:1.38;margin-bottom:4pt;margin-top:18pt;text-align:justify;" dir="ltr">ZK Price Action Amid Sell-offs</h2>The zkSync token (ZK) has also faced a downturn, primarily driven by a significant sell-off from top wallet holders who received new ZK tokens. Data from&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://query.nansen.ai/public/dashboards/uHhTXjQbXiR6OCB1BXlmOAujStIPCfJdPleAknZa?org_slug=default">Nansen</a> shows that 41.1% of tracked addresses sold their entire airdrop allocation, contributing to a spike in the 24-hour trading volume by 125.48%, amounting to approximately $1,021,708,204. Despite the sell-off, about 28.5% of the top receiving wallets are holding onto their tokens, which may cushion the price from further drops. ZK has a fully diluted market value exceeding $4.224 billion, with only 17.5% of its total supply currently circulating.Read More:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/how-to-buy/ZK">How to Buy zkSync (ZK)</a>The recent price actions of NOT and ZK underline the volatile nature of the cryptocurrency markets, where significant gains can often be followed by rapid corrections. Both tokens demonstrate the complexities of market dynamics and investor behaviors, offering critical insights into the challenges and opportunities within the cryptocurrency trading landscape.<h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">FAQs</h2><h3 style="line-height:1.38;margin-bottom:4pt;margin-top:14pt;text-align:justify;" dir="ltr">FAQ 1: What caused the recent price drop in Notcoin (NOT) and zkSync (ZK) tokens?</h3>Answer: The recent price drop in Notcoin (NOT) and zkSync (ZK) tokens can be attributed to a market correction. For NOT, a significant three-day sell-off and a decrease in trading volume contributed to the decline. For ZK, the price drop was driven by a substantial sell-off from top wallet holders who received airdrop allocations.<h3 style="line-height:1.38;margin-bottom:4pt;margin-top:14pt;text-align:justify;" dir="ltr">FAQ 2: Despite the recent downturn, are there any indicators of potential market recovery for Notcoin (NOT)?</h3>Answer: Yes, despite the recent downturn, there are indicators of potential market recovery for Notcoin (NOT). The Relative Strength Index (RSI) for NOT stands at 51.43, suggesting sustained buying interest and keeping the token bullish on the RSI spectrum. This indicates that there might still be significant market interest, hinting at potential resilience and recovery.<h3 style="line-height:1.38;margin-bottom:4pt;margin-top:14pt;text-align:justify;" dir="ltr">FAQ 3: How has the market activity for zkSync (ZK) tokens changed following the sell-off?</h3>Answer: Following the sell-off, the market activity for zkSync (ZK) tokens has seen a significant increase. The 24-hour trading volume spiked by 125.48%, reaching approximately $1,021,708,204. Despite the sell-off, about 28.5% of the top receiving wallets have opted to hold onto their ZK tokens, which may provide some stability to the market.Bitrue Official Website:Website:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/?cn=400103">https://www.bitrue.com/</a>Sign Up:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/user/regsiter?cn=400103">https://www.bitrue.com/user/register</a>&nbsp;Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.

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The recent market correction significantly affected the valuations of Notcoin (NOT) and zkSync (ZK) tokens, with declines of 13% and 16% respectively. 

Market Downturn Effects: Notcoin and zkSync Token Performance Analysis

Discover the controversy surrounding ZKSync's airdrop as the crypto community raises concerns over Sybil attacks, ineligibility, and unfair token allocation. Learn how these issues impact the project's future.

ZKSync Airdrop Controversy: Community Backlash Over Sybil Attacks and Unfair Token Distribution

The much-anticipated ZKSync airdrop, intended to reward early adopters and active users, has unfortunately sparked significant controversy and backlash within the crypto community.Initially envisioned as a celebratory event, the airdrop has turned into a focal point of complaints and dissatisfaction.<h3 id="h_01J14ETRZ6TEMXYNV7A0G0HBWW">Key Takeaways</h3><ul><li>The ZKSync airdrop suffered from inadequate Sybil filtering, allowing multiple fake identities to exploit the system. This oversight led to an unfair distribution of tokens, causing frustration within the community and highlighting the need for better anti-Sybil measures in future airdrops.</li><li>Many legitimate users who actively supported ZKSync and met the criteria were inexplicably excluded from the airdrop. This lack of transparency angered genuine supporters, emphasizing the importance of clear communication and transparent criteria in airdrop processes to avoid alienating loyal users.</li><li>Early supporters felt undervalued due to the low cap on the maximum token allocation per participant. The perceived inadequacy of rewards for these key contributors added to the dissatisfaction, calling for a re-evaluation of allocation strategies to better honor early contributions and ensure community satisfaction.</li></ul><h2 id="h_01J14ETRZ6THJMS826Z8T4QVQD">Key Complaints from the Community&nbsp;</h2>Sybil VulnerabilitiesThe primary concern revolves around the perceived lack of effective Sybil filtering. Sybil attacks involve the creation of multiple fake identities to game the system, and it appears that the ZKSync airdrop fell prey to this tactic. Many users pointed out that the airdrop did not adequately filter out these fraudulent claims, resulting in an unfair distribution of tokens. This has led to widespread frustration and calls for better anti-Sybil measures in future airdrops to maintain fairness and trust within the community.&nbsp;Ineligibility CasesAnother significant issue raised by the community is the ineligibility of many legitimate users. Numerous participants who had actively supported ZKSync and met the criteria found themselves excluded from the airdrop without clear explanations. This lack of transparency has sparked anger and disappointment among genuine supporters who feel unfairly treated. For an airdrop intended to reward loyalty and participation, the exclusion of eligible users is a critical misstep. This situation underscores the need for clearer communication and more transparent criteria in future airdrops to avoid alienating loyal users.Unfair Token Allocation:The controversy didn’t end with Sybil attacks and ineligibility issues. Many early supporters felt shortchanged by the token allocation process. The airdrop's design, which placed a low cap on the maximum allocation of tokens per participant, resulted in loyal supporters receiving fewer tokens than expected. Early adopters play a crucial role in the success of any crypto project, and ensuring they feel valued is essential. The perceived inadequacy of rewards for these key supporters has added to the overall dissatisfaction and calls for a re-evaluation of allocation strategies to better honor early contributions.<h2 id="h_01J14ETRZ6MR9ZB2EW9DYJPT5X">ZKSync Token Price Prediction</h2>Despite the controversy, the future of ZKSync's token remains a topic of keen interest. Analysts and enthusiasts are closely watching how the project handles these challenges and predicts that effective solutions could positively influence the ZKSync token price. A successful resolution to the current issues, combined with strategic improvements in airdrop processes and anti-Sybil measures, could lead to a more optimistic ZKSync token price prediction.In conclusion, while the ZKSync airdrop aimed to reward early adopters and active users, it has underscored the necessity for robust anti-Sybil mechanisms, transparent eligibility criteria, and fair allocation strategies. Addressing these challenges is crucial for restoring community trust and ensuring the success of future airdrops.<h2 id="h_01J14ETRZ680MS1ZZE6MAR61AK">FAQs</h2><ul><li>What is a Sybil attack, and how did it affect the ZKSync airdrop? A Sybil attack involves creating multiple fake identities to exploit a system. In the ZKSync airdrop, inadequate filtering allowed these fake identities to receive tokens unfairly, leading to frustration and calls for better anti-Sybil measures.</li><li>Why were some legitimate users excluded from the ZKSync airdrop? Many legitimate users who met the criteria were excluded without clear explanations, sparking anger and disappointment. This highlights the need for more transparent eligibility criteria and better communication to avoid alienating genuine supporters in future airdrops.</li><li>How did the token allocation process contribute to the controversy? The low cap on the maximum allocation of tokens per participant led early supporters to receive fewer tokens than expected, making them feel undervalued. This dissatisfaction calls for a re-evaluation of allocation strategies to ensure fair rewards for loyal contributors and maintain community trust.</li></ul>Disclaimer: This response provides information based on available data and general analysis. It does not constitute financial advice. Always perform your own due diligence and consult with a professional financial advisor before making investment decisions.

ZKSync's Airdrop Controversy: Community Uproar Over Sybil Attacks and Token Distribution

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The anticipated ZKSync airdrop, aimed at rewarding early adopters, has faced significant backlash. The community's primary complaints include vulnerabilities to Sybil attacks, exclusion of eligible users, and unfair token allocation. The inadequate Sybil filtering resulted in many fake claims receiving tokens, while genuine supporters were left out without clear reasons. Additionally, the low token cap per participant disappointed early supporters, who felt undervalued. These issues highlight the need for better anti-Sybil measures, transparent criteria, and fair allocation strategies in future airdrops to regain community trust. The resolution of these problems could positively influence the ZKSync token price.

Discover ZK Nation’s second wave airdrop for the ZK token. Learn how to claim free tokens targeting Protocol Guild members and contributors to ZKsync projects. Explore the benefits of participating in this community-driven initiative.

ZK Nation’s Second Wave Airdrop for ZK Token: Claim Now!

ZK Nation is rolling out its second wave of airdrop claims for the ZK token, targeting Protocol Guild members, external project contributors, and nominees from ZKsync ecosystem projects. Discover how this initiative aims to reward community engagement and explore ZKsync’s Layer-2 solutions for Ethereum, powered by zero-knowledge technology. Stay informed about the latest price fluctuations and market trends of the ZK/USDT trading pair as you consider participating in this exciting opportunity.<h2 style="margin-left:0in;text-align:justify;">Key Takeaways</h2><ul style="list-style-type:disc;"><li style="color:black;line-height:normal;margin-bottom:0in;tab-stops:list .5in;vertical-align:baseline;">ZK Nation’s second wave of ZK token airdrop targets Protocol Guild members, external project contributors, and ZKsync ecosystem nominees, promoting community engagement until early January 2025.</li><li style="color:black;line-height:normal;margin-bottom:0in;tab-stops:list .5in;vertical-align:baseline;">ZKsync employs zero-knowledge (ZK) technology to optimize Ethereum’s scalability and transaction efficiency through its Layer-2 solutions, including modular rollups and validiums.</li><li style="color:black;line-height:normal;margin-bottom:0in;tab-stops:list .5in;vertical-align:baseline;">The ZK/USDT trading pair exhibits significant volatility, prompting traders to stay vigilant about market movements before participating in ZK token opportunities.</li></ul><h2 style="margin-left:0in;text-align:justify;">ZK Nation’s Second Wave Airdrop Claims</h2>ZK Nation has announced the project’s airdrop claims for its ZK token are now live for the second wave of distribution. According to a&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://x.com/TheZKNation/status/1805247047940895158">post</a> on the official ZK Nation X account, this second round of the native token’s airdrop claims targets members of the Protocol Guild, contributors to external projects, or individuals nominated by given ZKsync ecosystem projects. This group of airdrop beneficiaries can now check their eligibility and those eligible will have until January 3, 2025, to claim their ZK tokens.&nbsp;Last week, ZKsync rolled out the first wave of its airdrop, with total tokens set to be airdropped to the community at 17.5% of the total supply of 21 billion ZK. That meant 3,675,000,000 tokens would be up for grabs, with 89% meant for ZKsync users, 5.8% for ZKsync native projects, 2.8% for on-chain communities, and 2.4% for builders. In the June 24 announcement, ZK Nation said the new round of airdrop for ZK accounts for 1.91% of the total 3.67 billion airdrop supply is up for grabs.&nbsp;Read more:&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/blog/zk-sync-airdrop-controversy-sybil-attacks-token-distribution">ZKSync’s Airdrop Controversy: Community Uproar Over Sybil Attacks and Token Distribution</a><h2 style="margin-left:0in;text-align:justify;">ZKsync Price</h2>ZKsync is a Layer-2 protocol and scaling solution for Ethereum. The project’s ZK chains offer high performance, modular rollups, and validiums, with ZKsync’s zero-knowledge (ZK) technology powering the ecosystem.<img src="https://static.bitrue.com/bitrue-cms/upload/image_8643f11401.png" width="492" height="318" border="0" v:shapes="Picture_x0020_1" uploadprocessed="true" alt="image.png" srcset="https://static.bitrue.com/bitrue-cms/upload/image_8643f11401.png 241w, https://static.bitrue.com/bitrue-cms/upload/image_8643f11401.png 500w, https://static.bitrue.com/bitrue-cms/upload/image_8643f11401.png 750w, https://static.bitrue.com/bitrue-cms/upload/image_8643f11401.png 1000w" sizes="100vw">Source: Bitrue&nbsp;The current price of ZK/USDT is $0.1627, reflecting a 0.18% decrease over the past 24 hours. Within this period, the highest price reached was $0.1726, while the lowest was $0.1529. The 24-hour trading volume stands at 710,989.4 ZK, equivalent to $116,252.647. The market capitalization is $603.52 million, placing it at rank 108.&nbsp;The ZK/USDT trading pair has shown considerable price fluctuation within the last 24 hours, highlighting a volatile market environment. The price, after experiencing a brief peak, has settled close to its opening value, which may suggest potential stabilization or consolidation. Traders should exercise caution and closely monitor the market for more defined trends before making any trading decisions.&nbsp;Read more:&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/trade/zk_usdt/?cn=400103">How to Buy: zkSync (ZK)</a><h2 style="margin-left:0in;text-align:justify;">Conclusion</h2>ZK Nation’s second wave of airdrop claims for the ZK token presents an opportunity for Protocol Guild members, external project contributors, and nominees within the ZKsync ecosystem. This initiative aims to foster community engagement while ZKsync continues to roll out tokens to its community. As participants explore these airdrop opportunities, understanding ZKsync’s Layer-2 solutions for Ethereum, driven by zero-knowledge technology, becomes crucial. Stay updated on the latest developments, including price fluctuations and market trends of the ZK/USDT trading pair, to make informed decisions. Engage with ZK Nation’s airdrop claims to potentially benefit from this dynamic and evolving blockchain ecosystem.<h2 style="margin-left:0in;text-align:justify;">FAQ</h2><h3 style="margin-left:0in;text-align:justify;">What is ZK Nation’s ZK token airdrop?</h3>ZK Nation’s ZK token airdrop is a distribution of free tokens to Protocol Guild members, external project contributors, and nominees from ZKsync ecosystem projects. It aims to reward community engagement and participation in the blockchain ecosystem.<h3 style="margin-left:0in;text-align:justify;">How does ZKsync use zero-knowledge (ZK) technology?</h3>ZKsync employs zero-knowledge (ZK) technology to enhance Ethereum’s scalability and transaction efficiency through Layer-2 solutions. These include modular rollups and validiums, contributing to faster and more cost-effective transactions on the Ethereum network.<h3 style="margin-left:0in;text-align:justify;">What factors should traders consider when participating in token airdrops like ZK Nation’s ZK token?</h3>Traders interested in participating in token airdrops, such as ZK Nation’s ZK token airdrop, should stay informed about eligibility criteria, distribution mechanics, and market dynamics like price fluctuations of associated tokens. It’s essential to monitor developments closely to make informed decisions and maximize potential benefits from these initiatives.

ZK Nation’s Second Wave Airdrop for ZK Token

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Discover the latest in Layer 2 (L2) solutions with Blast, Starknet, zkSync, and Manta Network. Learn about their token allocations, community incentives, and strategic reserves for growth and development.

Blast, Starknet, zkSync, and Manta: Comparative Analysis of Layer 2 Solutions

Key Takeaways:<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Blast, Starknet, zkSync, and Manta Network differ significantly in their token allocation strategies, with Blast and zkSync leading in community allocation percentages.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Starknet maintains the highest reserve allocation among the compared Layer 2 solutions, critical for future ecosystem growth.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Manta Network stands out for its substantial allocation to public investors, contrasting with other projects' strategies.</li></ul>The recently launched Blast crypto project has attracted significant attention for its generous community token allocation, ranking second among the latest Layer 2 (L2) solutions, as reported by Token Unlocks.&nbsp;Data from the tracker highlights Blast's substantial reserve of BLAST tokens specifically designated for community members. The analysis contrasts Blast with three other prominent L2 solutions: Starknet (STRK), zkSync (ZK), and Manta Network (MANTA).<span style="border-style:none;display:inline-block;font-style:normal;font-variant:normal;font-weight:400;height:412px;overflow:hidden;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;width:624px;"><img style="margin-left:0px;margin-top:0px;" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfQkqc-gM8p1Mm1KmNsTV1g8TYk_2visw6vQ2YBjXUAGlBT0zFYdQqsRU5evqEYQ7dVODwdl26XzJqYV3dnzDKd1e4LUQ9xwV_7z70-6eWndiHerw8It6GJqowqo4SNIbZSH0BEHC_AzjTs4HbklTJHWON1?key=SgVlhcQH6fEJ-TsvvTcU2A" width="624" height="412">Source:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://x.com/Token_Unlocks/status/1806217439522541743">Token Unlocks on X</a>zkSync leads in community allocation with 67%, followed closely by Blast at 50%. Manta Network has allocated 36% of its total token supply to the community, while Starknet's allocation stands at 18%.Tokens reserved for community use play a vital role in incentivizing ecosystem growth and rewarding liquidity providers. Such allocations often fund airdrop campaigns. The accompanying chart illustrates that these projects have largely unlocked their community allocations, except for Manta Network.<h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Token Reserves and Allocation Insights Across Projects</h2>In terms of token reserves, zkSync stands out with a zero allocation, while Starknet leads with a 32% reserve allocation, followed by Manta Network at 14% and Blast at 8%.When it comes to allocation to private investors, Manta Network allocates the highest at 24%, with Starknet following closely at 19%. Blast and zkSync allocate the least, each dedicating 17% of their token supplies to private investors. Notably, Starknet has fully utilized its reserve allocation.In terms of token allocation to team members and founders, Starknet leads with 31%, followed by Blast at 26%, Manta Network at 18%, and zkSync at 16%. Among the compared projects, only Manta Network has a substantial allocation for public investors, while others have none.<h2 style="line-height:1.38;margin-bottom:12pt;margin-left:40px;margin-top:12pt;text-align:justify;" dir="ltr">FAQs:</h2><ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">What role do community token allocations play in Layer 2 solutions like Blast and zkSync?&nbsp;Community allocations incentivize participation and liquidity provision, fostering broader ecosystem engagement and growth.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Why is Starknet's reserve allocation notable among these projects?&nbsp;Starknet's significant reserve allocation ensures ongoing support for its ecosystem and future development initiatives.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">How does Manta Network's allocation strategy differ from other Layer 2 solutions?&nbsp;Manta Network prioritizes public investor allocations, aiming to broaden its investor base and community engagement compared to its peers.</li></ul>&nbsp;Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.

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Explore Blast, Starknet, zkSync, and Manta Network, leading Layer 2 (L2) solutions. Compare their token allocations, community incentives, and strategic reserves for ecosystem development and growth.

Discover ZKsync 3.0's groundbreaking Elastic Chain, launched on June 7, 2024, enhancing Layer 2 with recursive ZK proofs for faster transactions. This upgrade boosts capital efficiency, supports over 20 new chains, and strengthens user security during a major ZK token airdrop.

ZKsync's New Elastic Chain, Boosting Efficiency in Layer 2

<h3 style="line-height:1.7999999999999998;margin-bottom:12pt;margin-left:36pt;margin-top:12pt;text-align:justify;" dir="ltr">Key Takeaways:</h3><ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The ZKsync 3.0 protocol upgrade, released on June 7, 2024, transforms the L1 bridge into a shared router contract, enhancing capital efficiency and simplifying asset movement.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The Elastic Chain employs recursive ZK proofs for infinite parallelism and rapid transaction verification, addressing efficiency and user experience challenges across multiple blockchains.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The updated strategy includes interconnected Layer 2 networks and advanced cryptographic techniques, improving scalability and security while preparing for over 20 additional ZK Chains by the end of 2024.</li></ul>&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/user/register?cn=400103"><span style="-webkit-text-decoration-skip:none;border-style:none;display:inline-block;font-style:normal;font-variant:normal;font-weight:400;height:155px;overflow:hidden;text-decoration-skip-ink:none;vertical-align:baseline;white-space:pre-wrap;width:624px;"><img style="margin-left:0px;margin-top:0px;" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdqp7KGn7ynFyQAq5g-YMgTGJCixWimCzQnun_9bzfo5RsJCSIRYeRI0X2ytA3q4_XhKQLW3ER4-0aN11S3OmeKcOOjnCa0ANPYosr_ES4FWOmgA-a_ppP2nt6PmfVZ8dMIjpU2NQSWyuvEOAj3D8PMrI0?key=V9eW0ci_htoiu48vFDkF3w" width="624" height="155"></a><h2 style="line-height:1.38;margin-bottom:10pt;margin-top:18pt;text-align:justify;" dir="ltr">What's New in the ZKsync 3.0 Protocol Upgrade</h2>The ZKsync Elastic Chain,&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://x.com/zksync/status/1808125972434067699">introduced</a> as part of the ZKsync 3.0 protocol upgrade, marks a significant development. Released on June 7, 2024, this update transforms the existing L1 bridge into a shared router contract, improving capital efficiency and simplifying asset movement.&nbsp;The new configuration prepares the network for over 20 additional ZK Chains set to launch by the end of 2024.&nbsp;The Elastic Chain employs recursive ZK proofs, allowing infinite parallelism and rapid transaction verification. This approach addresses user experience and efficiency challenges across multiple blockchains.&nbsp;By creating an ecosystem of interconnected autonomous chains, the Elastic Chain facilitates smoother asset transfers and enhances security, distinguishing it from traditional cross-chain bridges.Read more:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://bitrue.com/blog/what-is-zksync-elastic-chain">What is ZKsync's Elastic Chain?</a><h2 style="line-height:1.38;margin-bottom:10pt;margin-top:18pt;text-align:justify;" dir="ltr">ZKsync's Strategy for Improved Scalability and User Protection</h2>The latest ZKsync roadmap signifies a shift from a single Ethereum Layer 2 setup to a more extensive multi-chain architecture. This updated strategy fosters interconnected Layer 2 networks, utilizing shared infrastructure to improve scalability and functionality.&nbsp;Recursive ZK proofs ensure the system can manage a high volume of transactions efficiently, meeting the increasing demands of its users.<span style="border-style:none;display:inline-block;font-style:normal;font-variant:normal;font-weight:400;height:466px;overflow:hidden;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;width:1192px;"><img style="margin-left:0px;margin-top:0px;" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcZWZSkXz-Z--d8Kg76IfmJOfRgisJEWoIDAHhkogntHQ-Q8rHuBQpaKb80lxAW7qxxN8VpX6IrMxMX4QkPiTGw-UPAvX2Pukn4n9eyK6OEYUgpUhti1GD5Ifxmu_VZOxe-MkIrVj2ruztu8ptx9VuAU3Ar?key=V9eW0ci_htoiu48vFDkF3w" width="1192" height="466">Source:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://x.com/zksync/status/1808125974061384130">zkSync on X</a>Moreover, following the announcement that over 695,000 wallets were eligible for the ZK token airdrop, there was a rise in malicious DApps impersonating zkSync. Ido Ben-Natan, CEO of Blockaid, explained that these DApps used drainer SDKs to avoid detection. Scammers exploited X’s verified accounts to distribute malicious links.&nbsp;The token distribution, running from June 17 to July 16, aims to allocate 10.5 million ZK tokens. The community raised concerns about filtering Sybil farms, which the zkSync team is addressing to ensure a fair process.By combining advanced cryptographic techniques with a commitment to user security and scalability, the ZKsync Elastic Chain represents a pivotal step forward in blockchain technology.<h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">FAQs:</h2><ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">What is the main improvement introduced by the ZKsync 3.0 protocol upgrade? The upgrade transforms the existing L1 bridge into a shared router contract, significantly enhancing capital efficiency and simplifying asset movement across the network.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">How does the Elastic Chain improve transaction verification? The Elastic Chain uses recursive ZK proofs, allowing for infinite parallelism and rapid transaction verification, which boosts efficiency and user experience across multiple blockchains.</li><li style="background-color:transparent;color:#000000;font-family:'Helvetica Neue',sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">What measures are being taken to ensure the security of the ZK token distribution? The zkSync team is addressing community concerns about filtering Sybil farms and tackling malicious DApps impersonating zkSync, ensuring a fair and secure token distribution process.</li></ul>&nbsp;Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.

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ZKsync 3.0 introduces the Elastic Chain, enhancing Layer 2 efficiency with recursive ZK proofs for rapid transactions. Launched on June 7, 2024, it improves capital efficiency and supports over 20 additional ZK Chains. The upgrade shifts to a multi-chain architecture, boosting scalability and user security, amidst a significant ZK token airdrop.

Discover ZKsync 3.0's Elastic Chain, a transformative upgrade that enhances blockchain scalability and security. Learn how this interconnected network of ZK Chains simplifies cross-chain transactions, eliminates traditional bridging complexities, and offers a seamless user experience.

What is ZKsync's Elastic Chain?

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ZKsync 3.0, also known as the Elastic Chain, introduces a groundbreaking upgrade to the ZKsync network, transforming it from a singular Ethereum L2 solution into an interconnected network of ZK Chains. This upgrade enhances scalability, security, and user experience by leveraging cryptographic proofs, seamless cross-chain transactions, and simplified user interfaces. The Elastic Chain aims to eliminate the complexities and security risks of traditional bridging, offering a unified and efficient multi-chain ecosystem.