‘Natural Evolution' Of Scaling Solutions

Would You like a feature Interview?

All Interviews are 100% FREE of Charge

Cross-chain automated marker maker Symbiosis has onboarded its layer 2 scaling protocol zkSync to improve speed and reduce fees for token swaps on its platform.

The decentralized exchange (DEX) was launched in March 2022. It offers liquidity providers a one-sided stablecoin pool with zero permanent loss. It also facilitates “any-to-any” native asset swaps on its platform across Ethereum Virtual Machine (EVM) and non-EVM networks.

Symbiosis co-founder Nick Avramov told Cointelegraph that the zkSync integration will offer one-click swaps from Ethereum, Polygon, Avalanche, BNB, Telos, and other blockchains to zkSync. .

Additional functionality also eliminates the need for users to switch between different wallets and interfaces. Avramov also confirmed that the integration will improve various token swaps via DEX and support any-to-any native swaps to and from zkSync.

Related: ConsenSys zkEVM Configured for Public Testnet to Enable Secure Payments on Ethereum

The zkSync integration also aims to move liquidity to and from zkSync “safely, fast, and cheaply,” with Avramov also emphasizing the importance of Layer 2 scaling protocols for various DeFi platforms and services. increase.

“Scaling layers like Optimistic and ZK Rollup are very important for the next big wave of Web3. This is to lower the barriers to entry.”

The co-founder of Symbiosis also emphasized his personal view that ZK rollup could beat optimistic rollup solutions such as Arbitrum and Optimism. Avramov also believes it is important that cross-chain players and interoperability layers support his ZK solution as soon as possible.

“ZK represents an inevitable and natural evolution in scaling solutions.”

Symbiosis processes over $100 million in total stablecoin transaction volume, over 12,000 unique wallet addresses, and an average of 3,000 transactions per day.

The Ethereum Scaling ZK Rollup will continue to be a hot topic in 2023. As Cointelegraph previously reported, Polygon, an Ethereum Layer 2 scaling platform, has released its zkEVM to mainnet beta.

Scaling technology is not limited to Ethereum or other smart contract blockchains. The Swiss-based non-profit ZeroSync Association is currently developing a zero-knowledge proof tool that will allow Bitcoin (BTC) users to speed up the process of verifying individual blocks and, ultimately, entire blockchains.

Magazine: Crypto audits and bug bounties are broken: Here’s how to fix them