Matter Labs To Launch Revolutionary Ethereum (ETH) Scaling Solution zkSync 2.0 This Month

Matter Labs, the company behind the zero-knowledge rollup zkSync, has announced the much anticipated zkSync 2.0 is closer than ever.

Layer2 solutions provider zkSync Mainnet Launch Nears

Matter Labs, the company behind zero-knowledge rollup zkSync, has revealed that the much anticipated zkSync 2.0 is closer than ever. According to Matter Labs, the zkSync 2.0 testnet is already active, with the mainnet set to follow soon.

Matter Labs Prepares for zkSync 2.0 Launch

ZkSync 2.0, a so-called zkEVM, promises to be an advanced Ethereum scaling solution (a.k.a a “zero knowledge rollup”) that will aim to decrease Ethereum’s high fees, while simultaneously increasing the network’s transaction capacity

Sponsored

Matter Labs asserts that zkSync 2.0 will be the first rollup with the ability to handle scaling for all Ethereum smart contract formats. Should the tool live up to this tall order, developers would be able to build on zkSync just as they would on Ethereum’s main network.

The zkSync 2.0 mainnet will further launch with an on-and-off-ramping feature, called “Ramp”. Ramp offers several payment methods including credit and debit cards, bank transfers, and Apple Pay in 150 countries.

ZkSync is considered to be superior to other scaling solutions, such as Optimistic and Zero Knowledge rollups. According to Matter Labs, the zkSync 2.0 mainnet will launch on October 28th.

Touted to be capable of handling over 100,000 transactions per second when run in conjunction with Ethereum sharding, excitement for the zkSync 2.0 mainnet has already started gathering momentum.

Sponsored

In addition to the reveal of its release date, Matter Labs announced a flurry of partnerships with the Ramp Network, Automata Network, Nsuite, Homespace NFT, and BOBG projects.

On the Flipside

  • While Matter Labs has yet to officially unveil any plans for a zkSync token airdrop, many industry observers expect one to be announced ahead of the release.

Why You Should Care

The launch of zkSync 2.0 will mark a major shift in the Ethereum scaling landscape, introducing advanced scaling options for Ethereum-based tokens.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia