Global crypto exchange LBank hosted an AMA session on Twitter with Ethereum Layer 2 scaling solution zkSync Era on May 3. ZkSync’s representative was Omar Azhar, Head of Enterprise Business Development at Matter Labs, the developer of zkSync. An audience of about 10,000 listeners tuned in to learn more about the ambitious project.
The cryptocurrency space, especially the Ethereum ecosystem, has seen a lot of exciting developments recently. The launch of zkSync on the Mainnet about five weeks ago has led to the creation of numerous interesting DeFi projects, creating a highly competitive environment.
zkSync Era scales Ethereum’s blockchain with zero-knowledge proofs (ZKPs). According to the developers, this technology is the most viable option to enable the mass adoption of public blockchains. Azhar expressed his excitement by saying “I’m pretty excited to see it could be a pretty strong ZK summer.”
What’s even more exciting is the potential for innovation in Web3’s user experience through a DeFi revolution. Azhar explained that “Developers can now focus on improving the way people sign transactions and possibly even remove gas costs altogether using paymasters, where applications pay for their users’ gas costs.”
This could attract more mainstream users and make cryptocurrency use more accessible, he claims. However, scalability remains an important issue.
“For blockchain to be used at scale by companies like Visa or MasterCard, it must be able to support massive amounts of throughput, potentially millions of transactions per second. This is a long-term goal that will take a lot of work,” says Azhar.
zkSync is a company making progress in this direction. The company’s mission is to promote the use of crypto and encourage the mass adoption of crypto for public sovereignty. However, without the community, this mission would be pointless. Fortunately, it is clear that the community loves zkSync and that the company prioritizes the community.
“Without the municipality we are nothing. An ecosystem or a blockchain is just code. It’s pointless without the community,” concludes Azhar.
Disclaimer: This is a paid post and should not be treated as news/advice.