ZK is the endgame for unlimited scaling in Web3
ZK is the endgame for unlimited scaling in Web3
ZK technology enables unlimited scaling in Web3 without compromising decentralization. The endgame is thousands of permissionless hyperchains with thousands of transactions per second (TPS), with ZK proofs aggregated into one for each block. Ethereum will serve as the most decentralized settlement layer. Each transaction will be verified by every user in under 1 second. UX and liquidity fragmentation will be addressed, allowing seamless transactions between chains and free flow of liquidity. This vision will become reality on Ethereum in 2024.
1k TPS is a drop in the ocean of the world's demand for Web3. The Internet can't run on a single server. The Internet of Value can't run on a single monolithic blockchain, no matter how fast and willing to sacrifice decentralization. The endgame is ZK singularity: ⧫
Say what you want about SOL hitting its scaling limits today At least SOL is trying, as ETH gave up on scaling a long time ago SOL is clocking in over 1k TPS of real usage every day! While ETH has remained stuck on 100 TPS for three years, they have no ground left to stand on!
ZK is the endgame Every single chain that needs scale will upgrade to being validity proven, or be obsoleted It's a straight up >1,000x improvement in performance, cost, efficiency & composability - 0 compromise Anyone still FUDing are like horsemen FUDing automobiles in 1900
ZKSync Airdrop Contract Exploit Limited to 111M Tokens, Protocol Remains Secure
A compromised admin account exploited ZKSync's airdrop distribution contracts, minting approximately 111M unclaimed ZK tokens (~0.45% of total supply) worth ~$5M. Key points: - Exploit contained to airdrop contracts only - No further token minting possible - Main protocol, ZK token contract, and governance systems unaffected - User funds were never at risk The attacker still holds majority of funds at address: [0xb1027ed67f89c9f588e097f70807163fec1005d3](https://era.zksync.network/address/0xb1027ed67f89c9f588e097f70807163fec1005d3) ZKSync team is coordinating with exchanges and @_seal_org for recovery. Attacker encouraged to contact security@zksync.io to negotiate return.
Goldman Sachs and Major Institutions Discuss Tokenization Future at NYC Conference
At The Institutional Crypto Conference NYC, representatives from major financial institutions gathered to explore the current implementation and future of tokenization. The panel featured speakers from Goldman Sachs, Figure Markets, DTCC, and Ozhar. This discussion follows Goldman Sachs' earlier announcement of three tokenization projects planned for deployment. The increasing participation of traditional financial institutions signals growing mainstream acceptance of digital asset infrastructure. - Key participants included leaders from major financial institutions - Focus on practical implementation of tokenization - Builds on Goldman's planned tokenization initiatives *The convergence of traditional finance and digital assets continues to accelerate.*
Matter Labs Speaking at EtherArgentina
Matter Labs representative @alcitocampenni is scheduled to present at EtherArgentina in Córdoba. The talk will focus on **Elastic Network interoperability** and practical real-world applications. This continues Matter Labs' engagement with the Argentine crypto community, building on Ethereum's growing presence in the region.
Nana Murugesan and Jeremy Allaire Discuss ZK Proofs on The Money Movement Podcast
Nana Murugesan joins Jeremy Allaire on The Money Movement podcast to explore zero-knowledge (ZK) proofs. The discussion covers: - The necessity of ZK-proofs for Ethereum scaling - ZK-powered applications in privacy and identity - How ZK technology is facilitating institutional adoption of blockchain This episode follows a recent trend of industry leaders discussing ZK technology. Previously, Sandy from Scroll emphasized the importance of developer-friendly tooling to drive real-world adoption of ZK proofs. **Listen to the full episode:** [YouTube Link](https://www.youtube.com/watch?v=oL7NM6chBQM)
ZKSync Ecosystem Thrives Amidst Market Downturn
Despite the broader crypto market experiencing a bearish October, the ZKSync ecosystem is bucking the trend with significant developments: - Continuous shipping of new projects and updates - Strong ecosystem growth, contrasting with general market sentiment - Multiple initiatives launched, represented by letters: R Z I X Q S T C C P G This 'Octobull' for ZKSync highlights the resilience and progress of zkRollup technology on Ethereum Layer 2, even in challenging market conditions. Stay tuned for more updates on ZKSync's ecosystem expansion and its impact on Ethereum scalability.