Hello Hop community! We are reaching out to propose supporting zkSync V2 bridging. We will be going live on mainnet in less than 60 days and would be great to have Hop as one of our launch partners.
- zkSync ecosystem has over 200 projects committed to launching on mainnet, including top DeFi protocols, infrastructure, on/off ramps
- Deploying on zkSync can onboard new users & increase user activity
- ZK-rollups rely purely on math to fully inherit the security of Ethereum L1; users can always retrieve funds from the smart contract with no trust involved
- EVM compatibility increases ecosystem network effect
- zkSync shares Ethereum ethos with a commitment to decentralization, opensource, and permissive licensing
We would like Hop to support fast bridging between zkSync V2 and other chains, particular the other chains in the Ethereum ecosystem.
zkSync, as a zkEVM Layer 2, natively maintains a bridge between Etherium and zkSync. However, we would like to direct users to Hop for bridging between zkSync and the rest of the blockchain ecosystems.
With over 200 projects committed to launching on mainnet we expect to have a significantly robust ecosystem from day 1. This provides a huge economic value to Hop as there will be significant market demand for bridging to and from zkSync.
zkSync is a layer-2 network that eliminates scaling constraints and high transaction costs on Ethereum using zero-knowledge rollup technology (ZK-rollups). It’s an EVM-compatible rollup, meaning existing, battle-tested smart contracts written in Solidity and Vyper can deploy to zkSync with little to no modifications or reaudits while leveraging existing Ethereum tooling and infrastructure.
All funds are held by a smart contract on the mainchain, while computation and storage are performed off-chain. The main idea is that instead of verifying each transaction separately, transactions are rolled up to a single item, which is then verified, approving all them simultaneously.
This SNARK verification is much cheaper than verifying every transaction individually, and storing the 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.
ZK-rollups can offer up to 2000 TPS at peak load and will be extended in the future with off-chain data availability.
Roughly 1/50th of the costs on L1 because it requires the least amount of data to be posted on-chain. Savings could be an order of magnitude more significant as only the final changes to state need to be published. zkSync V1 is has been out for two years and is consistently one of the cheapest Layer 2s for swaps and transfers as measured by https://l2fees.info/
We believe zero-knowledge rollups are the most promising scaling solution for public blockchains, and EVM-compatibility will accelerate developer and retail adoption.
zkSync v2 is expected to be the first zkEVM-compatible rollup to go live on mainnet in less than 60 days.