Matter Labs has launched its alpha version of the EVM mainnet called zkSync Era.
Several significant crypto projects are already present on zkSync Era, including Argent, a DeFi and Ethereum wallet, Frax, a fractional algorithmic stablecoin, and the oracle network Pyth.
Ethereum projects such as the decentralized exchange Uniswap, the DEX aggregator 1inch, and the self-custodial wallet MetaMask have shown interest in the project.
Currently, users can transfer funds from Ethereum to zkSync Era using MetaMask.
Developers familiar with Ethereum programming languages Solidity, Vyper, and Yul can compile code for zkSync Era using LLVM, a compiler developed by the LLVM development group. Compilers convert human-readable smart contract languages into instructions that the blockchain can understand.
Matter Labs will delay the withdrawal of funds from the alpha version of zkEVM and initiate security audits. When the system matures, a security council will be appointed to execute urgent upgrades.
Accordingly, Matter Labs advises users not to transfer significant funds to the alpha version. Currently, $5.42 million in total value is locked on zkSync Era.
The company launched a ‘fair onboarding process’ on February 17, 2023, to enable decentralized application developers to optimize their smart contracts and verify the security of the network.
Zero knowledge (zk) rollups are a type of solution for scaling Ethereum’s transaction throughput and reducing transaction fees.
The difference between zk rollups and other optimistic rollups like Arbitrum and Optimism lies in the way series of transactions are finalized.
In most cases, rollups are designed to reduce congestion on the main blockchain by performing heavy computations on series of transactions and sending a reduced amount of data back to the main chain.
Zk rollups generate cryptographic proofs that the series of transactions are valid. These proofs are sent to the main Ethereum chain, where the series becomes final.
ZkSync Era uses a special type of zk rollup called SNARK.
