A scaling solution for ETH... another one... Yes! ETH alone won't be able to do what is needed, so they need a second layer to do the hard work... (I kind of want to give all ETH L2 an instant 1-star as I think we are settling too early on tech that isn't functional on a large scale). But I have to be open to solutions instead of focusing on the problem...
Some of the issues that zkSync is trying to solve are the low TPS and high fee costs of the Ethereum blockchain while keeping the security of the original blockchain. One way of doing this is by combining multiple transactions and only updating the final state onto the L1 network. By removing the requirement to sign every transaction individually, you're able to batch multiple actions at once.
For example, if you want to distribute 1 ETH to 10 different wallets, on the L1 network, each transaction would require you to sign off on it, resulting in high fees and a long waiting time for them to finish. However, with zkSync, you can log in once, set a spend limit of 1 ETH, post all 10 transactions in a row, and then finalize them all together.
I'm not sure if it works the same when buying an NFT and adding it to a lending platform for example, as you need to update the blockchain to receive the NFT you require in your next steps.
But that's not all! They are also creating the concept of Hyperchains, multiple ZK-chains at the same time. Basically, they are creating forks that work with the same principles. I'm not sure if more chains are what we need, but hey, it gives you an unlimited amount of scalability without pushing the limits on the tech itself. So A real Ethereum Solution... Show Less
