The Rise of zkSync Bridge: A Game Changer for Ethereum

According to reports, after zkSync announced this week that its main network, “zkSync Era,” will be fully opened for everyone to use without a license, the number of bridge users has increased. According to the latest data from Dune Analytics, the number of zkSync bridge users has exceeded 700000, reaching 708089 at the time of writing this article, compared to the current indicator values of 615,877, 313,426, and 206,404 for Arbitrum, Optimism, and StarNet, respectively. However, in terms of bridge storage scale, up to now, zkSync is 231538 ETH, lagging behind Arbitrum (2370614 ETH) and Optimism (521939 ETH).

ZkSync bridge users exceeded 700000

As Ethereum continues to expand, its scalability issues have become a major concern for the blockchain community. The zkSync bridge is one of the proposed solutions to this problem. This article will provide an in-depth look at the rise of zkSync bridge and how it has become a game changer for Ethereum.

What is zkSync?

zkSync is an off-chain scaling solution that aims to provide increased transaction throughput for Ethereum. It is based on zero-knowledge proofs, which allow for the creation of private and secure transactions. This technology enables zkSync to bypass the Ethereum blockchain and process transactions more efficiently.

zkSync Era Opens Without a License

Recently, zkSync announced that its main network, “zkSync Era,” would be fully opened for everyone to use without a license. This move was tremendous news for the blockchain community, and it seems that it was exactly what users were waiting for.
According to the latest data from Dune Analytics, the number of zkSync bridge users has exceeded 700,000, reaching 708,089 at the time of writing this article. By comparison, the current indicator values for Arbitrum, Optimism, and StarNet are 615,877, 313,426, and 206,404, respectively.

Bridge Storage Scale

However, in terms of bridge storage scale, zkSync lags behind Arbitrum and Optimism. As of now, the total value of ETH locked on zkSync is 231,538, while Arbitrum has 2,370,614 ETH, and Optimism has 521,939 ETH. It is no surprise that zkSync has some catching up to do in terms of volume.

Solutions Offered by zkSync Bridge

One of the most significant advantages of zkSync bridge is the ability to move assets between different Ethereum-based chains. This cross-chain transfer capability allows users to transfer assets between different blockchains and take advantage of lower transaction fees and faster confirmation times.
Another exciting feature offered by zkSync bridge is the ability to execute smart contracts off-chain. This means that the computation required for smart contracts can be performed off-chain, reducing the computing resources required on-chain.

The Future of zkSync Bridge

Since its release, zkSync has been gaining traction and attracting a large user base. The zkSync team is continually improving the technology and is committed to scaling Ethereum efficiently.
In conclusion, the zkSync bridge has emerged as a game changer for Ethereum’s scalability issues. The release of zkSync Era without a license has seen the number of bridge users rise rapidly. While zkSync may lag behind Arbitrum and Optimism in terms of volume, the ability to move assets across different chains and execute smart contracts off-chain is a significant breakthrough for the blockchain community.

FAQs

Q: Is zkSync free to use?
A: Yes, zkSync is available for everyone to use without a license.
Q: How does zkSync help with Ethereum’s scalability issues?
A: zkSync provides off-chain scaling solutions that increase the transaction throughput of Ethereum.
Q: What is the total value of ETH locked on zkSync?
A: As of writing this article, the total value of ETH locked on zkSync is 231,538.