Ethereum‘s scalability issues have created a whirlwind of problems for the cryptocurrency industry, however, it has also fostered a ground for innovative ideas to overcome the same. Many layer 2 solutions have emerged in the recent past in order to combat the congestion on Ethereum, including zero-knowledge rollups. An enhancement for this has now been released by zkSync, which has announced the launch of its Rollup protocol on the Ethereum public testnet.
The zkEVM is the first EVM-enabled ZK Rollup on the Ethereum network, according to a blog post from the company. Moreover, it is also a permissionless and comprehensive deployment that facilitates the launch of decentralized applications (dApps) in a more scalable and cost-effective manner.
Moreover, since the Rollup relies on cryptography for transactions to be processed, it also eliminates the need for human validators. This is also expected to significantly reduce the transaction fee that the Ethereum network currently charges its users, a pain point that has led to many migrating from the network to other new-age blockchains that are much more affordable.
The EVM-enabled rollup was highly anticipated by the community, who consider it to be the final piece to solving the Ethereum scalability puzzle, as they handle off-chain transactions and thus reduce compute and storage resources. storage requirements of Ethereum Layer 1.
As expected, crypto Twitter appeared to be rejoicing on the news, with some dApps having already deployed on the zkSync 2.0 testnet.
Others also seemed ecstatic, with one developer saying they could “smell the future” with the rollup rolling out after testing its speed.
Another Twitter user claimed that the Ethereum network will receive a huge boost once the Rollups are launched on the mainnet.
However, that’s not to say the launch was completely problem-free. Some Twitter users could also be seen complaining about the issues they were facing while trying to make transactions. Most of them revolved around speed, a problem Rollups are ironically designed to solve.
Nevertheless, zkSync rising popularity has been getting more evident lately, with recent data suggesting that the number of ETH currently deposited in the zkSync L2 network has exceeded 90,000. Moreover, more than 350,000 transactions of deposit transfers from the Ethereum mainnet to the zkSync have also taken place to date.
