ZKsync Elastic Chain Unveiled to Transform Layer 2 Ecosystem

Key Takeaways:

1. ZKsync Elastic Chain Enhances Interoperability: The Elastic Chain, part of the ZKsync 3.0 upgrade, introduces a shared router contract to improve capital efficiency and asset movement.
2. Scalability Through Recursive ZK Proofs: Recursive ZK proofs enable the Elastic Chain to achieve infinite parallelism and rapid transaction verification, addressing multi-chain efficiency challenges.
3. ZK Token Launch Faces Challenges: The ZK token launch on June 17 faced network strain and security issues, including high RPC load and malicious DApps targeting users.

YEREVAN (CoinChapter.com) — The ZKsync Elastic Chain, introduced as part of the ZKsync 3.0 protocol upgrade, marks a significant development. This update, released on June 7, 2024, converts the existing L1 bridge into a shared router contract. This improves capital efficiency and simplifying asset movement. The new configuration prepares the network for over 20 additional ZK Chains set to launch by the end of 2024.

Elastic Chain Boosts Scalability and Interoperability with Recursive ZK Proofs

The Elastic Chain employs recursive ZK proofs, allowing infinite parallelism and rapid transaction verification. This approach addresses user experience and efficiency challenges across multiple blockchains. By creating an ecosystem of interconnected autonomous chains, the Elastic Chain facilitates smoother asset transfers and enhances security. This distinguishes the Elastic Chain from traditional cross-chain bridges.

The latest ZKsync roadmap signifies a shift from a single Ethereum Layer 2 setup to a more extensive multi-chain architecture. This updated strategy fosters interconnected Layer 2 networks, utilizing shared infrastructure to improve scalability and functionality.

Recursive ZK proofs ensure the system can manage a high volume of transactions efficiently, meeting the increasing demands of its users.

zkSync Token Launch Faces Network Strain and Airdrop Scams

Moreover, following the announcement that over 695,000 wallets were eligible for the ZK token airdrop, there was a rise in malicious DApps impersonating zkSync. Ido Ben-Natan, CEO of Blockaid, explained these DApps used drainer SDKs to avoid detection.

Scammers exploited X’s verified accounts to distribute malicious links. The token distribution, running from June 17 to July 16, aims to allocate 10.5 million ZK tokens. The community raised concerns about filtering Sybil farms, which the zkSync team is addressing to ensure a fair process.