Thread by @BinanceResearch

@zkSync is one of multiple projects building #zkEVM. The project recently launched its Baby Alpha and here is all you need to know 🧵👇

1/ Both zero-knowledge proofs and Ethereum Virtual Machines are concepts that have been around for some time now but bringing them together in a fully operational way, this soon after the Ethereum merge, might heat up the debate around Layer 2 scaling solutions again

2/ One project building zkEVMs is #zkSync. As of now, zkSync’s Baby Alpha allows Devs to port and develop on the mainnet, but the system will still be closed to external users. The reason is to allow for additional security tests.

3/ Once all security checks have passed, the project will allow open access to the bridge for external users.

4/ EOY 2022, the full Mainnet is expected to launch. Q1 2023, the project is aiming to deliver a Layer 3 proof of concept called “Opportunity” - a #HyperChain built on top of the zkSync Layer 2.

5/ zkSync’s #zk-rollup will allow for on-chain data availability, while #zkPorter will bring off-chain data availability. As such, the hope is that zkPorter fills the gap between zkSync and scalability when it comes to mainstream/mass adoption

6/ Looking closer at zkPorter, we can note that the data availability of zkPorter accounts will be secured (in the future) by zkSync token holders

7/ zkEVMs are only one way to scale #Ethereum - they have tough competition with optimistic rollups since they have had time to establish themselves already. That said, zk-rollups (especially combined with EVM compatibility) offer numerous upsides to the Ethereum mainnet

8/ Entering the ongoing debate if it is the holy grail to be fully Ethereum equivalent, compatible, or highly specialized, we reject the narrative that the more compatible to Ethereum you are, the better you are. Instead, we see a need and use cases for all ends of the spectrum

9/ In the long term, we can envision highly EVM-compatible zk-rollups building the future of blockchains. At the same time, we expect to see more specialized zkVMs help develop the Web3 space as a whole, tackling unique problems with custom solutions

10/ For more details, a full report looking at zkEVMs can be found here: research.binance.com/en/analysis/zk…