Question 1

What is zkSync (ZK)?

Accepted Answer

zkSync (ZK) is a layer 2 scaling solution for Ethereum designed by Matter Labs. It leverages zero-knowledge rollups (zk-rollups) to enhance transaction throughput and reduce costs while maintaining security and decentralisation. By aggregating multiple transactions into a single proof, zkSync significantly decreases the data load on the Ethereum mainnet, resulting in lower transaction fees and faster processing times. zkSync aims to provide a scalable, efficient, and user-friendly platform for Ethereum users and developers.

Question 2

What is zkSync (ZK) used for?

Accepted Answer

zkSync (ZK) is used for various purposes within the Ethereum ecosystem, including:

1. **Transaction Scaling:** By batching transactions into a single proof, zkSync enables higher transaction throughput and lower fees compared to the Ethereum mainnet.
2. **Decentralised Finance (DeFi):** It supports DeFi applications, facilitating activities like trading, lending, and borrowing with improved efficiency and reduced costs.
3. **NFT Marketplaces:** zkSync's low fees and fast transactions make it suitable for NFT minting, buying, and selling, enhancing the user experience.
4. **Payments:** The platform supports cost-effective micropayments, making it ideal for applications requiring frequent small transactions, such as subscriptions and in-app purchases.
5. **Token Transfers:** zkSync allows for quick and inexpensive ERC-20 token transfers, benefiting overall network usability.

Question 3

Who created zkSync (ZK)?

Accepted Answer

zkSync was developed by Matter Labs, a company focused on solving Ethereum’s scalability issues through advanced cryptographic techniques. The key members of the Matter Labs team include:

- **Alex Gluchowski:** Co-Founder and CEO
- **Zoé Gadsden:** Chief Operating Officer (COO)
- **Anthony Rose:** Chief Technology Officer (CTO)
- **Geoffrey Thompson:** General Counsel

Question 4

How does zkSync (ZK) work?

Accepted Answer

zkSync employs a zk-rollup mechanism to achieve scalability. The process includes:

1. **Batching Transactions:** Multiple transactions are grouped into a batch off-chain.
2. **Generating Proofs:** A cryptographic proof, known as a zk-SNARK, is generated for the batch, certifying the validity of all transactions within it.
3. **On-Chain Verification:** This proof is then submitted to the Ethereum mainnet, where it is verified, ensuring all transactions are correct.
4. **State Updates:** Upon verification, the Ethereum mainnet updates its state to reflect the batched transactions.

This method significantly reduces the data that needs to be processed on-chain, thus lowering fees and increasing throughput.

Question 5

Security and Decentralisation

Accepted Answer

zkSync maintains high security and decentralisation standards by adhering to Ethereum’s security model. The use of zk-rollups ensures that transactions are cryptographically verified before being included on-chain, eliminating the need for trusted intermediaries. This approach preserves Ethereum's security guarantees while enabling higher transaction capacity and lower costs.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	ZK-USDT ZKUSDT	binance	AA	0.01479USDT	-10,90%	490 541 448,10ZK	95 785	0.01660USDT	0.01706USDT
2	ZK-TRY ZKTRY	binance	AA	0.7270TRY	-10,80%	145 707 254,00ZK	8 487	0.8149TRY	0.8380TRY
3	ZK-USDT ZK-USDT	okex	A	0.01477USDT	-10,97%	116 713 439,80ZK	23 968	0.01659USDT	0.01707USDT
4	ZK-USDT ZKUSDT	bybit	A	0.01479USDT	-10,84%	109 272 543,20ZK	49 105	0.01658USDT	0.01706USDT
5	ZK-USD ZK-USD	coinbase	AA	0.01473USD	-11,18%	94 215 480,60ZK	12 916	0.01658USD	0.01703USD
6	ZK-USDT ZK_USDT	whitebit	BB	0.01480USDT	-10,74%	89 910 043,20ZK	28 860	0.01658USDT	0.01708USDT
7	ZK-USDT ZK_USDT	gateio	A	0.01478USDT	-10,93%	89 594 969,91ZK	27 172	0.01659USDT	0.01707USDT
8	ZK-USDC ZKUSDC	binance	AA	0.01477USDC	-10,92%	25 806 491,20ZK	11 866	0.01658USDC	0.01705USDC
9	ZK-USDC ZKUSDC	bybit	A	0.01477USDC	-10,84%	22 931 255,92ZK	14 543	0.01657USDC	0.01705USDC
10	ZK-USD ZKUSD	kraken	AA	0.01472USD	-11,16%	19 655 315,23ZK	1 560	0.01657USD	0.01710USD
11	ZK-TRY ZK_TRY	whitebit	BB	0.7290TRY	-10,99%	13 531 798,50ZK	1 377	0.8189TRY	0.8410TRY
12	ZK-USDT ZKSYNCUSDT_SPBL	bitget	BB	0.01475USDT	-11,30%	11 618 250,84ZK	2 843	0.01663USDT	0.01705USDT
13	ZK-USDT ZK-USDT	kucoin	BB	0.01477USDT	-11,13%	8 482 817,00ZK	4 005	0.01662USDT	0.01703USDT
14	ZK-EUR ZK_EUR	whitebit	BB	0.01322EUR	-10,01%	7 583 634,20ZK	1 195	0.01469EUR	0.01516EUR
15	ZK-EUR ZKEUR	kraken	AA	0.01254EUR	-15,16%	3 648 853,53ZK	131	0.01478EUR	0.01502EUR
16	ZK-BTC ZK_BTC	whitebit	BB	0.0₆1787BTC	-10,02%	2 038 614,00ZK	301	0.0₆1986BTC	0.0₆2028BTC
17	ZK-USD ZK_USD	cryptodotcom	AA	0.01428USD	-13,54%	964 010,00ZK	125	0.01652USD	0.01695USD
18	ZK-USDC ZK-USDC	okex	A	0.01475USDC	-10,76%	604 629,05ZK	167	0.01652USDC	0.01700USDC
19	ZK-USDT ZK_USDT	cryptodotcom	AA	0.01443USDT	-8,28%	146 570,00ZK	16	0.01573USDT	0.01664USDT
20	ZK-TRY ZK-TRY	okex	A	0.7544TRY	-3,55%	99 166,69ZK	15	0.7822TRY	0.7822TRY
21	ZK-EUR ZK-EUR	okex	A	0.01321EUR	-9,81%	60 323,47ZK	35	0.01465EUR	0.01506EUR
22	ZK-USD zkusd	bitstamp	AA	0.01280USD	0,00%	0ZK	0	0.01280USD	0.01280USD
23	ZK-USDT zk_usdt	xtpub	-	0.01478USDT	-11,02%	168 056 876,30ZK	17 548	0.01661USDT	0.01706USDT
24	ZK-USDT zk_usdt	lbank	C	0.01471USDT	-11,33%	125 007 027,50ZK	16 322	0.01659USDT	0.01706USDT
25	ZK-KRW KRW-ZK	upbit	B	19,90KRW	-11,16%	99 000 919,73ZK	4 178	22,40KRW	23,00KRW
26	ZK-USDT ZKUSDT	bitrue	D	0.01474USDT	-11,15%	90 537 102,30ZK	48 048	0.01659USDT	0.01708USDT
27	ZK-USDT ZK_USDT	p2pb2b	D	0.01479USDT	-10,96%	77 501 008,00ZK	23 971	0.01661USDT	0.01706USDT
28	ZK-USDT sZKUSDT	phemex	C	0.01483USDT	-10,82%	60 471 662,57ZK	7 541	0.01663USDT	0.01708USDT
29	ZK-USDT ZK_USDT	coinw	-	0.01471USDT	-11,39%	56 819 223,16ZK	3 667	0.01660USDT	0.01705USDT
30	ZK-USD ZK-USD	btse	-	0.01479USD	-10,69%	30 281 104,40ZK	50 294	0.01655USD	0.01708USD
31	ZK-TRY ZKTRY	btcturk	E	0.7262TRY	-10,83%	27 681 725,20ZK	1 326	0.8145TRY	0.8375TRY
32	ZK-USDT ZK-USDT	bingx	D	0.01472USDT	-11,33%	24 346 108,98ZK	30 208	0.01660USDT	0.01709USDT
33	ZK-USDT zk_usdt	digifinex	D	0.01477USDT	-10,97%	22 924 829,20ZK	16 142	0.01659USDT	0.01709USDT
34	ZK-USDT zkusdt	huobipro	C	0.01720USDT	-1,15%	19 328 914,84ZK	5 921	0.01739USDT	0.02080USDT
35	ZK-USDT ZK_USDT	bitunix	C	0.01478USDT	-10,96%	18 840 412,40ZK	15 634	0.01660USDT	0.01705USDT
36	ZK-EUR ZK-EUR	bitvavo	B	0.01320EUR	-10,70%	15 690 681,58ZK	555	0.01478EUR	0.01519EUR
37	ZK-KRW ZK_KRW	bithumbkorea	-	19,75KRW	-10,51%	13 724 451,11ZK	1 049	22,07KRW	22,78KRW
38	ZK-USDT ZKUSDT	mexc	C	0.01470USDT	-11,33%	11 920 557,10ZK	3 833	0.01658USDT	0.01704USDT
39	ZK-USDT ZKUSDT	btcturk	E	0.01437USDT	-13,43%	7 597 224,00ZK	351	0.01660USDT	0.01700USDT
40	ZK-USDT ZK_USDT	bydfi	-	0.01470USDT	-11,45%	3 957 609,46ZK	2 712	0.01660USDT	0.01689USDT
41	ZK-EUR ZKEUR	bit2me	B	0.01254EUR	-15,16%	3 648 853,53ZK	131	0.01478EUR	0.01502EUR
42	ZK-USDC ZKUSDC	mexc	C	0.01471USDC	-11,13%	3 608 218,36ZK	2 967	0.01655USDC	0.01700USDC
43	ZK-THB THB_ZK	bitkub	C	0.5000THB	-9,86%	1 324 046,35ZK	51	0.5547THB	0.5612THB
44	ZK-USDT USDT-ZK	upbit	B	0.01502USDT	-4,88%	799 070,40ZK	49	0.01578USDT	0.01663USDT
45	ZK-INR ZKINR	coindcx	-	1,43INR	-12,58%	266 937,26ZK	120	1,63INR	1,69INR
46	ZK-USDT ZK-USDT	btse	-	0.01474USDT	-11,31%	245 682,80ZK	1 381	0.01662USDT	0.01702USDT
47	ZK-KRW ZK_KRW	coinone	C	20,76KRW	-3,53%	170 354,25ZK	17	21,52KRW	22,80KRW
48	ZK-KRW zk_krw	korbit	C	20,77KRW	-4,86%	73 282,49ZK	4	21,83KRW	22,50KRW
49	ZK-BTC BTC-ZK	upbit	B	0.0₆1800BTC	0,00%	0ZK	0	0.0₆1800BTC	0.0₆1800BTC
50	ZK-USDC ZK-USDC	btse	-	0.01474USDC	-10,45%	19 467,10ZK	800	0.01646USDC	0.01702USDC