ZKsync

Messari compiled a comprehensive report covering ZKsync’s groundbreaking rollup technology with a lengthy focus on institutional adoption. Read the full report here along with this breakdown from Xochitl De Groot Ivory https://lnkd.in/eG5WdnQB

Coinbase has added institutional custodian support for ZKsync! Through Coinbase Institutional, institutions can safely manage ZKsync ecosystem assets and take part in governance, signaling an important step toward broadening the ZKsync ecosystem's appeal to a wider audience.

CREATOR and ZTX are partnering to integrate with ZKsync to bring Zepeto’s 500+ million users and 20 million monthly active users to the Elastic Chain. Zepeto is a popular avatar-based social platform that has been leveraging ZTX to bring its vibrant Web2 community into the Web3 space. Leveraging relationships with successful web2 platforms for new user onboarding, CREATOR is building with ZKsync’s leading zero-knowledge (ZK) technology that solves Ethereum’s security, scalability, and cost issues. Ian Maverick, Special Strategy Director at CREATOR commented: “The ZTX and CREATOR teams are fully aligned on ensuring the seamless onboarding of ZTX users and its legacy web2 platform users to the CREATOR blockchain… We are delighted to leverage the ZK Stack to help us expedite our building.” Read the full details here: https://lnkd.in/dsZwJ9ZR

Matter Labs and Nethermind just completed the first formal verification of ZKsync's on-chain zk-verifier. This is a major milestone for ZKsync and blockchain security! The zk-verifier ensures that ZK rollups process transactions correctly. It checks the correctness of zero-knowledge proofs, which are central to making rollups scalable and efficient. If a verifier has errors, it could make the system vulnerable to attacks. But since verifiers are complex, ensuring their accuracy is no simple task, which is where we introduce Formal Verification. Most rollups rely on human-conducted audits to catch errors. These audits can sometimes miss edge cases or subtle bugs in complex, low-level code like the zk-verifier. ZKsync, however, went beyond human-based audits by using formal verification—a mathematical approach that proves the correctness of the code.  We described how the verifier should behave, using mathematical notation, and wrote a proof that the code matches this behavior. This is where computers step in. They can precisely and rigorously check code, making sure it's correct. We used this power to ensure the verifier’s logic is airtight. Writing proofs in a way that computers understand was a huge task, made possible by skilled engineers and researchers. We used appropriate tools like EasyCrypt, a proof assistant, which helped speed up our progress. Formally verifying the zk-verifier gives the highest level of security assurance in any on-chain zk-verifier. This sets new standards for blockchain, influencing future developments in scaling and privacy solutions. With decentralized systems growing fast, security and scalability are more critical than ever. This formal verification of ZKsync’s zk-verifier is a step toward building a more secure and scalable blockchain future. This announcement will be followed by a blog post and paper giving the details of this work, as well as an open-sourcing of the EasyCrypt proof that individuals can personally check. We want to thank Denis Firsov, Nethermind, Julian Sutherland, and Igor Zhirkov for their contributions to this project!

ZKsync Era has integrated Chainlink CCIP, the industry standard for cross-chain interoperability. The integration provides an additional on-ramp for people to join the Elastic Chain ecosystem and empowers Web3 developers with top-tier infrastructure for creating feature-rich dApps. “ZKsync has become a household name in the blockchain industry, quickly building its ecosystem into a powerful environment for developers and financial institutions looking to move onchain,” commented Johann Eid, Chief Business Officer at Chainlink Labs. This integration marks a milestone for both Chainlink and ZKsync, uniting the Layer 2 ecosystem on Ethereum and increasing access to zero-knowledge technology. “As more financial institutions move onchain, the tokenization of onchain assets is growing rapidly,” said Marco Cora ∎, Director at the ZKsync Foundation. ‘’The need for transparent and secure cross-chain standards becomes paramount, and with Chainlink CCIP, ZKsync provides a gateway for these institutions to come onchain’’. Read the full post here: https://lnkd.in/gBJ9_-cu

Congratulations to Space and Time on its $20 million Series A funding round to converge AI and blockchain technologies on ZKsync. Backed by leading technology funds including Microsoft and Digital Currency Group, Space and Time is building a ZK Chain to tackle the toughest data challenges by building the decentralized data foundation for web3 secured by zero-knowledge technology. As the world becomes increasingly AI-powered, blockchain technology is indispensable to combating deep fakes and providing proof of personhood. Space and Time is building the decentralized data foundation for web3 to bring the immutability of blockchain to AI applications. Co-founder and CEO of Space and Time Nate Holiday commented, "[We're] moving to an AI-powered world… It's super critical… to ensure that as applications are being built in this new world, powered by Space and Time, you have this verifiability, trust, and transparency." https://lnkd.in/eJYSt4qD

The tokenized market is expected to reach $30 trillion by 2034, underscoring DeFi’s potential to revolutionize traditional finance. In this Bloomberg article about Wall Street “Blockchain Pioneers,” Matter Labs President Nana Murugesan discusses why larger ecosystems will develop on public blockchains like ZKsync. Read the full article here: https://lnkd.in/dSX44Kpk

Anchorage Digital is the first institutional custodian to support ZKsync. Institutions can securely hold ZKsync ecosystem assets and participate in governance through Anchorage Digital's platform, marking a significant milestone in the growth of the ZKsync ecosystem. As home to the only U.S. federally chartered crypto bank, Anchorage Digital’s support of ZKsync underscores its commitment to providing institutional investors secure access to cutting-edge zero-knowledge technology. CEO and Co-Founder of Anchorage Digital Nathan McCauley commented, “Zero-knowledge technology is here, now from a clear-cut qualified custodian in Anchorage Digital Bank.” Read the full post here: https://lnkd.in/d_JwmBNG

Nodle and Campaign Verify's partnership to verify political identities with trustworthy content is a testament to the power of Blockchain in an era where disinformation threatens democratic stability. Click’s digital trust network will now enable politicians to authenticate their photos and videos on ZKsync, giving voters the confidence to trust content from politicians online and on social media platforms. ZKsync stands as a beacon of transparency and reliability in this use case that is crucial for the integrity of U.S. elections and democracy at large. Read more here: https://lnkd.in/g7p-KECy

The launch of Ether ETFs in the U.S. is a significant milestone for web3. Read why Matter Labs President Nana Murugesan believes Ether ETFs are a “watershed moment” for the industry in this Reuters article.