As part of its mainnet launch, the Ethereum Layer 2 scaling solution did not announce a coin launch.
ZkSync, an Ethereum Layer 2 scalability solution, will launch on the mainnet within three months, the group stated Wednesday.
ZK is an abbreviation for zero knowledge, and zkSync is a scalability solution based on rollups with zero knowledge. ZkRollups is one of the techniques employed by Layer 2 networks to allow quicker and less expensive transactions than the Ethereum mainnet is capable of. Additionally, there are optimistic rollups, sidechains, and state channels.
The creator of the technology, Matter Labs, has announced that zkSync 2.0 will be compatible with the Ethereum Virtual Machine (EVM) upon its release. With the introduction of its mainnet, the project aims to become the first zk proof-based scaling solution for EVM smart contracts accessible in a natural production setting.
As a result, zkSync will also support the programming languages Solidity and Vyper, which are both used by EVM-based applications. Additionally, the statement noted that zkSync 2.0 would be compatible with previous versions of the solutions. This is to make upgrading to the new version simpler for project creators.
The launch of the mainnet will occur in three stages. The first phase will occur in November, with no external projects involved. The second step will consist of audits and a successful alpha launch. The last step will be the end of 2022 introduction of the entire mainnet.
The statement made today made no mention of a potential token for zkSync. Optimism, an additional Ethereum Layer 2 project, has just issued its native currency, and StarkNet has declared that it will do the same.