The number of primary network addresses of zkSync Era has exceeded 160000, and the number of cross chain ETHs has exceeded 34000

According to reports, according to Dune data, as of March 30, the number of single addresses on the zkSync Era chain had reached 160351, and 34188 ETHs had entered the zkSync Era network across the chain, with an average of about 0.2 ETHs stored per address.

The number of primary network addresses of zkSync Era has exceeded 160000, and the number of cross chain ETHs has exceeded 34000

1. Introduction
2. What is the zkSync Era chain?
3. How does the zkSync Era network work?
4. Benefits of the zkSync Era network
5. Number of single addresses on the zkSync Era chain
6. ETHs stored on the zkSync Era network
7. Future potential of the zkSync Era network
8. Conclusion

Article: The Rise of zkSync Era Chain: More Than 160,000 Addresses and Counting

With the increasing demand for faster and cheaper transactions on the Ethereum network, a new layer 2 solution called zkSync Era chain has emerged. According to reports, as of March 30, 2021, the number of single addresses on the zkSync Era chain had reached 160,351, and 34,188 ETHs had entered the zkSync Era network across the chain, with an average of about 0.2 ETHs stored per address.

What is the zkSync Era chain?

The zkSync Era chain is a layer 2 scaling solution built on top of the Ethereum network. It uses zero-knowledge proofs (zk-proofs) to enable fast and cheap transactions with the same level of security as that of the Ethereum mainnet. The zkSync Era chain takes advantage of the zk-rollup technology, which is a type of layer 2 scaling solution that enables off-chain computation while still guaranteeing the integrity of the on-chain data.

How does the zkSync Era network work?

The zkSync Era network works by bundling multiple transactions into a single transaction, which is then sent to the zkSync smart contract on the Ethereum mainnet. This means that only one transaction fee needs to be paid for multiple transactions, making it much cheaper than using the Ethereum mainnet directly.
For example, let’s say Alice wants to send 0.1 ETH to Bob, and Carol wants to send 0.05 ETH to David. Instead of sending two separate transactions on the Ethereum mainnet, they can bundle their transactions into a single transaction and send it to the zkSync Era chain. The zkSync Era network will then verify the transactions and update the account balances on the Ethereum mainnet.

Benefits of the zkSync Era network

The zkSync Era network offers several benefits over the Ethereum mainnet, including:
– Faster transactions: Since the zkSync Era chain does not need to wait for all nodes on the Ethereum network to reach consensus, transactions can be processed much faster.
– Cheaper transaction fees: By bundling multiple transactions into a single transaction, the zkSync Era network significantly reduces the transaction fees.
– Improved scalability: The zkSync Era network can handle a much higher volume of transactions than the Ethereum mainnet, making it more scalable.

Number of single addresses on the zkSync Era chain

As mentioned earlier, the number of single addresses on the zkSync Era chain had reached 160,351 as of March 30, 2021. This is a significant milestone for the zkSync Era network, indicating that more and more users are starting to adopt layer 2 scaling solutions to avoid high gas fees and slow transaction times on the Ethereum mainnet.

ETHs stored on the zkSync Era network

In addition to the number of addresses on the zkSync Era chain, 34,188 ETHs had entered the network as of March 30, with an average of about 0.2 ETHs stored per address. This shows that users are not only using the zkSync Era network to save on transaction fees but are also storing their ETH on the network, given its fast and secure nature.

Future potential of the zkSync Era network

The growth of the zkSync Era network is a clear indication that layer 2 scaling solutions will play a crucial role in the future of the Ethereum network. With the recent surge in gas fees on the Ethereum mainnet, more and more users are starting to utilize layer 2 solutions like the zkSync Era chain to avoid high transaction costs and slow processing times.

Conclusion

The zkSync Era network is an innovative layer 2 scaling solution that offers faster and cheaper transactions than the Ethereum mainnet while maintaining the same level of security. With more than 160,000 single addresses and over 34,000 ETHs stored on the network, the zkSync Era chain is poised for significant growth in the coming months and years.

FAQs

1. How does the zkSync Era chain compare to other layer 2 scaling solutions?
The zkSync Era chain offers several benefits over other layer 2 scaling solutions, including faster transaction times, cheaper fees, and the ability to handle a higher volume of transactions.
2. Is the zkSync Era network secure?
Yes, the zkSync Era network uses zero-knowledge proofs, which are based on advanced cryptography and provide the highest level of security.
3. Is it easy to use the zkSync Era network?
Yes, using the zkSync Era network is relatively easy, and users can access it through a variety of wallets and dapps that support the network.
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