Celebrating the 1st anniversary of the Ethereum Layer 2 Scaling Protocol zkSync era has introduced some of the major milestones within 12 months of competing in the competitive L2 world.
Growth highlights in the zkSync era
Taking on the X platform, the protocol noted that the protocol, launched on March 24, 2023, has recorded several innovations, including the shipment of ZK Stack, a modular framework for building sovereign hyperchains. I emphasized.
Since Layer 2 scaling solutions are designed to help handle transaction throughput, and Ethereum in particular often fails in that regard, zkSync Era has spent the past year helping validators reduce their hardware requirements. We introduced the Boojum Proof System for this purpose.
One of the main highlights of the recorded performance was the transactions per second (TPS) which topped 188 during the 2023 Inscription event. zkSync also hosted his Code4rena audit contest, the largest of its kind with over $1.1 million.
According to data from analytics platform L2Beat, zkSync Era currently ranks as the third best performing L2 with an average TPS of 16.23, up 16.94% over the following 7 days. Over the past 30 days, zkSync Era recorded 37.77 million transactions in the past week.
Ethereum L2 turns out to be one of the biggest beneficiaries of the recently introduced Ethereum Denkun upgrade. As it became clear, transaction fees In the zkSync Era, it dropped to 1 cent, and the protocol is generally easier to use than it was a year ago. Setting its sights on what really matters, zkSync Era outlines its next major goal to truly focus on the Zero Knowledge (ZK) part of its vision.
Driving the evolution of Ethereum
There are various protocols with their own technology to extend Ethereum. zkSync Era focuses on using a zero knowledge model, while other L2s such as Arbitrum and Optimism utilize the Optimistic Rollup technology stack.
To remain relevant as a viable L2, zkSync has had to evolve and encourage community building as demonstrated by the Code4rena audit competition.
Since zkSync is built for the public, we've had to do several collaborations over the past year. What gives power is blockchain digital id We present an innovation from the city of Buenos Aires, Argentina and show how its applications can be diversified.
Since the zkSync protocol has not yet launched a native token, most of the innovations that the zkSync protocol is promoting emphasize Ethereum features, which has positively manifested in the coin's price growth.
