Circle has integrated Ethereum’s zero-knowledge layer-2 solution zkSync into its native stablecoin, USD Coin, thereby increasing transaction processing speeds while preserving Ethereum’s fundamental values, thereby enhancing the Ethereum layer-2 ecosystem. Its availability in the system has expanded.
Circle, one of the largest stablecoin producers, has expanded its support for Ethereum’s layer-2 solution zkSync to include its own stablecoin, USD Coin (USDC). This integration expands the possibilities for Ethereum developers and users, allowing them to benefit from zkSync’s zero-knowledge proofs and rollup technology.
Expanding USD Coin’s reach
With the addition of ZkSync, USDC is now available on 16 blockchains, including Ethereum, Solana, Base, Arbitrum, and more. This extension allows developers to build on a stable foundation provided by Circle, ensuring the reliability and stability of their apps and services.
Taking advantage of zkSync’s technology
zkSync uses zero-knowledge proofs and rollups to execute transactions on Layer 2 of the Ethereum network with record speeds and low costs. Zero-knowledge proofs enable the integrity of transactions to be evaluated without revealing the underlying data, guaranteeing confidentiality and security. Rollups combine multiple transactions from the Ethereum core layer into a single transaction, increasing scalability and reducing costs.
The integration of zkSync with USDC provides several benefits for organizations and developers:
1. Quick and low-cost transactions
Using ZkSync’s unique data compression mechanism, developers can enjoy low-cost transactions on the Ethereum network. This scaling solution significantly reduces petrol expenses and increases transaction throughput, making it more affordable for both individuals and companies.
2. Better security and privacy.
zkSync’s zero-knowledge proofs provide cryptographic assurance of transaction validity, ensuring transaction integrity. This enhanced security feature is important for banking apps and DeFi protocols, where trust and privacy are essential.
3. Basic Account Abstraction
Developers can use zkSync’s built-in account abstraction to perform social wallet recovery, membership payments, and network fee payments in USDC. This functionality improves user experiences and broadens the use cases for USDC in the Ethereum ecosystem.
zkSync ecosystem development
As of April 9, 2024, the zkSync ecosystem has over 180 decentralized apps and 5.7 million unique active wallet addresses in the last 30 days. This growing growth and user community shows that layer-2 solutions like zkSync are becoming more popular and in demand.
Circle’s commitment to the future of Ethereum
Circle’s integration of zkSync with USDC is in line with its aim to increase Ethereum’s throughput while maintaining its core ideals of independence, self-sovereignty, and massive decentralization. Circle aspires to foster innovation and growth within the Ethereum ecosystem by providing access to a reliable and scalable infrastructure for developers and companies.
conclusion
Circle’s adoption of zkSync into its native stablecoin, USD Coin, is another important step towards establishing the Ethereum layer-2 ecosystem. zkSync’s zero-knowledge proofs and rollup technologies provide developers with a robust platform for faster, lower-cost transactions and improved security. This integration underlines Circle’s commitment to the future of Ethereum and its aim to promote scalability while maintaining the essential principles of the network.
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