The zkSync Ecosystem, an Ethereum (ETH) developer platform, has grown significantly over the past few weeks and now has more value locked than Polygon.
After the launch of the layer-2 scaling protocol Era by zkSync on March 24, this extension has drawn particular attention. It is reasonable to conclude that zkSync has achieved more TVL success than Polygon, the blockchain platform that just unveiled the EVM equivalent, zkEVM, when compared to the latter.
The extraordinary performance of the zkSync Ecosystem “in the few weeks since the launch of zkSync’s Era,” the crypto market research company Messari tweeted to its 313 thousand followers.
In contrast to Polygon’s zkEVM, Messari said that “at the end of Q1, zkSync had nearly $200M in TVL across its ecosystem.” He gave a further explanation, adding to his earlier remarks.
The most notable distinction between the two chains is that Polygon zkEVM is EVM equivalent, while zkSync Era is EVM compatible.
Polygon’s TVL has stayed mostly stable at a rate of roughly $2.2 million, whereas zkSync’s TVL has significantly increased since the release of Era and has already topped $200 million.
Matter Labs’ development of zkSync, a Layer 2 blockchain protocol that uses zero-knowledge proofs to reduce Ethereum’s innate congestion, aims to hasten the widespread adoption of cryptocurrencies for personal sovereignty.
It is intended to scale the fundamental principles of Ethereum while releasing the full power of trustless blockchain technology. Over 14 million high-speed transfers have already been supported by zkSync, which received early financing from the Ethereum Foundation.
Polygon zkEVM is a fascinating new development in the area of Ethereum-compatible blockchains. A highly scalable and secure blockchain system is created using the Ethereum Virtual Machine (EVM) and zero-knowledge proofs (often referred to as zk-proofs).
Zero-knowledge proofs can be used to demonstrate the validity of a transaction without disclosing any private information about the transaction itself. In today’s digital age, this opens up the possibility of creating more private and secure blockchains.