ZkSync: A 0xScope Overview

0xScope has recently launched support for zkSync, a layer-2 scaling solution for Ethereum based on zk-Rollup technology, on Scopechat and Scopescan.

The zk in zk-Rollup stands for "zero knowledge," in reference to the technology used to process transactions off-chain while keeping records of the transactions' data on a Layer-1 blockchain like Ethereum. Meanwhile, "rollup" refers to the smart contracts used to bundle several transactions, increasing scaling and efficiency in the process.

What sets zk-Rollup technology apart from other rollups such as Optimistic rollups is its method of using validity proofs for instant verification of transactions.

In this article, the 0xScope team provides an overview of key statistics and important trends related to the zkSync ecosystem.

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Brief History of zkSync

Developed by Matter Labs, zkSync first launched in June 2020 as zkSync 1.0, featuring zk-Rollup technology, but without support for smart contracts. Despite this disadvantage, zkSync 1.0 was able to get as much as $170M in TVL (total value locked) before giving way to its current iteration: zkSync 2.0.

Matter Labs launched a "baby alpha" version of zkSync 2.0 in October 2022, this time featuring EVM compatibility, as well as support for smart contracts and multiple programming languages such as Rust, Yul, Vyper, and Solidity, in addition to the platform's own Zinc language. Just a few months later, on March 2023, zkSync 2.0 launched on mainnet.

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Stats and Projects

Just over a year after its mainnet launch, zkSync currently has a $173M TVL, which is close to its $196M peak in July 2023. For reference, L2 platform Linea, which is another prominent zk-Rollup platform, currently has a $92.2M TVL. L2 solutions that use zk-Rollups currently have lower TVLs compared to their Optimistic rollup counterparts like Arbitrum ($4.22B TVL) and Optimism ($1.08B).

As of today, a total of 177,123.05 $ETH (worth $634.9M) has been bridged to zkSync.

Among the 77 zkSync projects tracked by Scopechat, the biggest one based on TVL is SyncSwap, a native DEX that currently has $61.9M TVL, followed by DeFi lending protocol ZeroLend with $23.7. In terms of daily active entities, the leading project on zkSync is Mute, a DEX, yield, and bond platform that currently has 25,514 daily active entities (on $17.7M TVL), followed by SyncSwap with 23,283.

Interestingly, 8 out of the top 10 zkSync projects based on TVL are DEXes.

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Blockchain Data

Here are some more statistics that highlight recent trends on the zkSync network:

1. Top gas spender: Over the past 24 hours, the top gas spender on zkSync is 0x0541, an $ETH whale that has been active since August 2023. This address currently has $25M worth of $ETH in its portfolio
2. Top gas consumer: The list of top zkSync gas consumers is mostly comprised of addresses connected to DEXes, with the exception of the Soul ($SOUL) token, deployed in December 2023. $SOUL is a token that Web3 quest platform CARV launched through a recent airdrop tied to the introduction of its Data-to-Earn (D2E) concept.

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Conclusion

With 0xScope's launch of support for zkSync, users can uncover more insights and trends on the activities of this blockchain. For this report, we used Scopescan tools such as Project Explorer, Wallet Explorer, Live Statistics, Whale Watch, and more. We encourage the Web3 community to unearth more findings about Linea projects and activities using 0xScope, Scopechat, and Scopescan.

0xScope is adding support for more blockchains in the future. Stay tuned for updates.