What is ZKsync (ZK)? How Does It Work?

ZKsync is one of the initiatives that emerged to enhance the scalability of blockchains, enabling faster and cheaper transactions. As a Layer 2 solution connected to Ethereum, ZKsync quickly gained traction and became popular in a short period. In this article, you can find answers to questions such as: What is ZKsync?, How does ZKsync work?, What is ZK coin?, How to store ZK coin?, and How to buy ZK token?

What is ZKsync (ZK)?

ZKsync is a Layer 2 blockchain operating on the Ethereum network. Although Ethereum is preferred by many users due to its decentralization and unique structure, its scalability is still limited. ZKsync addresses this issue by offering an infrastructure that maintains Ethereum’s security standards while enabling much faster and cheaper transactions.

Layer 2 blockchains are generally divided into two categories. The first type uses Optimistic Rollups, and the second uses Zero Knowledge Rollups. ZKsync is built using the Zero Knowledge Rollup mechanism.

How Does ZKsync (ZK) Work?

ZKsync processes transactions off-chain, i.e., outside of the main blockchain it is connected to. In Layer 1 blockchain structures, each transaction is verified individually and added to the blocks, while in rollup structures, multiple transactions are grouped together, and a single code representing this group is recorded on the main blockchain. This way, the grouped transactions are processed as if they were a single transaction, reducing the load on the Ethereum blockchain.

The code representing these grouped transactions is generated using Zero Knowledge Proof (ZKP). The infrastructure that ZKsync uses is critical for ensuring transaction privacy and user anonymity. This is because, in Zero Knowledge Proofs, the correctness of the transactions is verified without revealing the contents of the transactions.

Thanks to ZKP, the time required to transfer assets from the ZKsync blockchain to the Ethereum blockchain is significantly shorter than the 1-week period typically seen with Optimistic Rollups. Assets can be transferred to Ethereum within just a few hours.

Get to Know ZKsync

• Matter Labs started working on ZKsync in 2019 and launched its first version in 2020.
• ZKsync is a Layer 2 blockchain connected to the Ethereum network.
• ZKsync uses Zero Knowledge Rollup technology.
• Transactions on ZKsync are verifiable through Zero Knowledge Proofs (ZKP).
• ZK coin is the native cryptocurrency of the ZKsync platform.
• The ZK token can be used for voting on changes related to the ZKsync platform.
• Passive income can be earned by staking ZK.
• Fees for transactions on ZKsync can be paid using ZK tokens, ETH, or any ERC-20 tokens.
• The total supply of ZK is capped at 21,000,000,000.
• To visit the ZKsync website, click here, and for more detailed information, click here.

How to Store ZKsync (ZK)?

The ZK cryptocurrency can be stored in web, browser, desktop, mobile, and hardware wallets that support the ZKsync network.

How to Buy and Sell ZKsync (ZK)?

To buy and sell ZKsync (ZK) with Turkish Lira or Tether (USDT), you can use the BtcTurk | Kripto website or the BtcTurk | Kripto mobile app. If you are not a member of BtcTurk | Kripto, you can sign up immediately on our website or mobile application and buy ZKsync (ZK). You can deposit Turkish Lira 24/7 using one of our seven affiliated banks.