Ethereum Layer 2 solution ZKSync introduces “Hyperchain” vision
3 min readThe team behind the scaling solution for Ethereum ZKSync has big plans. So Matter Labs presented yesterday in a blog entry the vision of a “hyperchain” in prospect. Instead of a single one, it should therefore house an entire network of interconnected blockchains. They all build on ZKSync’s zero-knowledge cryptography and are designed to further scale the ecosystem.
The foundation of this vision is the “ZKStack”. It consists of customizable code building blocks that developers can integrate into their workflow. This should result in a network of layer 2 and layer 3 networks on Ethereum. ZKStack is a clear homage to Optimism’s OP Stack. The competing Layer 2 project has been pursuing the same dream for a while and already has prominent blockchain solutions from Coinbase (BASE) and Binance (opBNB) in its portfolio.
Crypto vs. Optimism
Both ZKSync and Optimism scaling solutions are rollups, which means that transactions are performed off-chain and then bundled and sent to the Ethereum mainchain for validation. What makes them different is the way they validate transactions. Optimism uses Optimistic Rollup technology. It simply assumes that transactions are valid and only allows a window of seven days in which to dispute on-chain activity.
ZKSync, on the other hand, relies on complex mathematical proofs in which the content of a transaction does not need to be known in order to be validated. These zero-knowledge proofs are considered the “holy grail” in blockchain scaling, but they are still in their infancy. As a result, optimistic rollups like Arbitrum and Optimism currently enjoy some “first mover” advantage. However, ZKSync wants to compete with them as early as this year.
ZKSync – waiting for the airdrop
Not only the potentially revolutionary technology of ZKSync is currently causing a little hype. The prospect of an imminent airdrop is also causing activity on the mainnet of the Layer 2 chain launched in March to increase sharply. The community is now counting on the launch of a token. As with Arbitrum, its distribution to users could depend on each individual’s activity. The more the blockchain was used, the higher the reward.
In view of this, the Total Value Locked (TVL) on ZKSync has recently really picked up speed. With an increase of 22 percent since mainnet launch, the network is already the third largest scaling solution.
However, ZKSync is still a few hundred million dollars away from overthrowing the most popular rollups, Arbitrum and Optimism. And as remarkable as the activity so far is, it is not clear to what extent it is just airdrop hunters. The selection of dApps available on the chain also leaves a lot to be desired compared to the competition. Adaptation could therefore still lag behind for some time, especially since the technology has not yet reached its full potential.
Meanwhile, the project is getting competition from the domestic CC sector. Polygon introduced a similar, interoperable ZK-Vision with Polygon 2.0 just a few days earlier. So, even if the ZK Rollups do outperform the Optimistic Rollups in the long run, ZKSync may still have to fight for the top spot. The competition, however, should give a boost to the mother chain, Ethereum in particular. The fact that the layer 2s are constantly outdoing each other with new innovations ultimately means for the largest smart contract blockchain that scaling benefits in any case.
