2023-04-20 20:10:10
© Reuters 1inch Expands to Ethereum Rolloup zkSync Era
CriptoFácil – A , aggregator of decentralized cryptocurrency exchanges (DEX), announced this Thursday (20) its integration with zkSync Era, one of the largest zero knowledge (zk) protocols with support for the EVM (Virtual Machine) ever launched .
As 1inch highlighted in the announcement, zkSync Era is one of the leading Layer 2 (rollup) solutions aimed at scaling Ethereum. Launched in late March 2023, zkSync Era has a total lock-in value (TVL) of around $107 million, according to data from DeFi Llama. By way of comparison, the zkEVM protocol, released around the same time, has a TVL of just over $2 million.
Layer 2 (L2) rollups work by grouping transactions before sending them to the mainnet for completion. As a result, zk-rollups can process thousands of transactions in one batch. They then send only some minimal digest data to the main network.
These solutions promise to combine the privacy and performance benefits of using zero-knowledge proofs to inherit Ethereum’s core security. In addition, they allow developers to easily deploy code written for the EVM.
1inch no zkSync Era
As Sergej Kunz, co-founder of 1inch Network, pointed out, zkSync Era is a very promising L2 solution. Therefore, 1inch is proud to be among the first projects to reach this network.
“As zkSync Era gains traction, 1inch users will benefit from faster and cheaper transactions.”
Alex Gluchowski, CEO and co-founder of Matter Labs, the team behind zkSync, highlighted that 1inch, as the largest DEX aggregator by on-chain volume, will provide deeper liquidity for the zkSync Era, offering DeFi users greater transparency and enabling them to execute trades faster at better rates.
“DeFi has been a driving force behind the explosive growth of the zkSync Era,” he said. “We hope that the inch deployment will contribute to even greater adoption and usage of zkSync Era.”
By porting its protocol to the zkSync Era, 1inch becomes one of the largest crypto protocols yet to ship on a zkEVM.
Last week, as reported by CriptoFácil, announced its launch of Polygon zkEVM after a unanimous governance vote.
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