Thread by @ZK_Daily

1/22. Deep dive to @zksync
2. #zkSync Overview
3. Features
4-6. #zkSNARKs
7. #zkPorter
8. zkSync 1.0
9. #zkEVM
10. Zinc
11-13. zkSync2⃣.0⃣
14-15. #Ecosystem
16. Skininthegame
17. TVL
18. Roadmap
19. Wen token
20. Backers
21. Audit
22. Comparison

2/22. zkSync Overview
@zksync is a zkRollup Layer 2 scaling solution on Ethereum developed by @the_matter_labs. It offers low gas and fast transactions, without compromising on security.

3/22. Features
- Ultra-low tx fees
- 2k TPS (20k TPS w/ zkPorter)
- Based on Eth security
- Users control of their funds
- No requirement for operational activity to keep the funds safe
- Withdrawals to mainnet in ~10 minutes
- Multisig support
- Permissionless smart contracts

4/22 zkSNARK
#zk: protecting user’s privacy
#S: succinct proofs can be verified within a few milliseconds
#N: non-Interactive means that the prover only needs to send a single message to the verifier, instead of back-and-forth communication
#ARK: generate off-chain trusted proofs

5/22. zk-SNARKs use collision resistant elliptic curves to secure the randomness required for a proof (so it is very hard to find two separate inputs that produce the same output)

6/22. SNARK verification is much cheaper than verifying every transaction individually, and storing the state off-chain is significantly cheaper than storing it on EVM. Hence enabling a huge boost of scalability (~100-200x mainnet capacity) and tx cost savings.

7/22. #zkPorter is an open-sourced, audited, non-custodial and highly scalable decentralized exchanges & payments by batch-processing thousands of requests off-chain, with verifiably correct execution via ZKPs. And as a result, ultra-low transaction fees

8/22 zkSync 1.0 is zkRollup scaling solution on Eth that is non-custodial with zero trust assumption. It was used exclusively for simple purposes. It lacks support for a zkEVM, and cannot process more complicated smart contract. Even so, ZigZag has built a cool products on zkSync

9/22. #zkEVM: A virtual machine that can execute many Solidity smart contracts and is compatible with zkRollup. This fixes the use case limitation of zkSync 1.0.

10/22. #Zinc is a programming turing-complete language based on Rust, which performs more effectively than Solidity.
Zinc is an emerging framework for developing smart contracts and SNARK circuits on the zkSync platform.

11/22. #zkSync 2.0 is a ZK rollup: a trustless protocol that utilises ZKP to provide scalable low-cost transactions on Ethereum. All assets are stored in a single smart contract on the mainchain, while computation and storing data are performed off-chain.

12/22. zkSync 2.0 highlights:
- Mainnet-like security with zero reliance on 3rd parties.
- Permissionless #EVM-compatible smart contracts.
- Standard Web3 API.
- Preserving key EVM features, such as smart contract composability.
- Account abstraction and meta-transactions.
+++

13/22. zkSync 2.0 #Volition
zkSync 2.0 will also have a Volition design, in which users can decide between posting transaction data on Ethereum (#rollup) or on zkPorter (#validium).

14/22. zkSync ecosystem

https://twitter.com/ZK_Daily/status/1537461972920197120?s=20&t=T5JmIOaKwtijsN_v2s6NiQ

15/22. You can see all legos in below thread 👇

https://twitter.com/ZK_Daily/status/1537461975982125057?s=20&t=T5JmIOaKwtijsN_v2s6NiQ

16/22. Skininthegame

You can testnet some projects such as @ZigZagExchange @syncswap @IncrementHQ @trustlessfi @Dank_Protocol @MintSquareNFT @tevaera @zksync 2.0 + + +

https://twitter.com/ZK_Daily/status/1522737026642051072?s=20&t=OC17MvLDjtGMyQJHWR01ZQ

17/22. #TVL ~$58M, total unique addresses ~ 321.3k, total txs from mainnet ~10.1m, fee ~$0.06-$0.14

You can transfer your asset to zkSync through #zkSync wallet, @Orbiter_Finance, @layerswap, @ZigZagExchange, @Bybit_Official, @RampNetwork, @BanxaOfficial

18/22. Roadmap
zkSync 1.0 (mainnet)
#zkSync 2.0
- zkSync 2.0 public Testnet (live)
- zkSync 2.0 public Testnet v2 (coming soon)
- zkSync 2.0 Alpha Mainnet
- zkSync 2.0 Mainnet
#zkPorter

19/22. Wen token
When zkSync becomes fully decentralized, the token will be used for staking in order to become a validator in the zkSync network.

20/22 Backers
- Seed round: MatterLabs led by @gluk64 has successfully raised $2m
- Series A: raised $6M
- Series B: raised $50M
- Jan 2022: #BitDAO launched $200M for zkSync.
Total $258M from @BitDAO_Official @a16z @usv @placeholdervc @binance @coinbase @ethereum @1kxnetwork +++

21/22. #Audit
zkSync protocol, smart contracts, and zero-knowledge circuits have been audited by one of the most respected expert groups in the zero-knowledge space: #ABDK Consulting
docs.zksync.io/zksync-1.0-aud…

22/22. Compare to others

https://twitter.com/ZK_Daily/status/1520617956257918976?s=20&t=Yqc7_OI6Bm1aiPv1Xx2Z0g